- State Government to establish new dedicated Housing Supply Unit in Treasury
- Unit will work across Government and with industry on policies to boost housing supply, affordability, and expand workforce capacity
- Builds on the Government's significant recent investments to boost housing supply
A dedicated Housing Supply Unit will be established within the Department of Treasury, as the State Government continues to drive new measures to boost housing supply and affordability in Western Australia.
Like other property markets across the country, WA's housing market is facing significant pressures, with a tight rental market in metropolitan and regional WA and a low number of properties listed for sale.
The new Unit will report to the Residential Lands and Housing Delivery Ministerial Oversight Committee and be responsible for producing economic forecasts for WA and the development of market-driven housing policies including measures to boost supply and improve choice and affordability.
This will include regular consultation with the residential building industry and the property development sector, to identify specific barriers to increasing supply, and working with other agencies and Government Trading Enterprises to address those barriers.
The placement of the Unit within Treasury will allow it to harness the Department's strengths in providing budgetary and economic advice to Government, particularly given the strong links between housing supply and the State's economic conditions, and economic diversification objectives.
The Unit will also support the push for WA's fair share of funding from the Commonwealth from pools of funding such as the Housing Australia Future Fund, the New Home Bonus, Housing Support Program and funding through Housing Australia.
The new Unit will complement existing functions within the Department of Communities including social, affordable, remote, key worker and Government Regional Officer Housing, as well as addressing homelessness and continue efforts to drive WA's interests at a national level on housing policy and funding.
The establishment of the new Unit comes on top of existing Government measures to boost housing supply and affordability including:
- $80 million Infrastructure Development Fund;
- $55 million strategic investment in water and wastewater infrastructure; and
- transfer duty concession for off-the-plan apartments and apartments under construction.
The new Housing Supply Unit is anticipated to be operational from January 2024.
As stated by Treasurer Rita Saffioti:
"The is the first time we have established a dedicated housing unit within the Department of Treasury, which highlights how important this issue is to our Government.
"The Department of Treasury has significant strength in providing economic and fiscal advice to Government and is ideally placed to provide strategic guidance with significant national investment expected to flow following the passing of the HAFF by the Federal Government.
"The Unit will work with the residential building industry and property development sector to identify specific barriers to increasing supply, and work with other agencies and Government Trading Enterprises to address those barriers.
"The Unit builds on our Government's significant recent investments to boost housing supply and affordability, including the $750 million housing package in the 2023-24 Budget and the recent extension of the offthe-plan transfer duty concession to apartments under construction."
As stated by Housing Minister John Carey:
"Our Government is using every lever we can to accelerate the delivery of housing throughout Western Australia.
"My laser focus is doing everything we can to boost housing supply.
"The Housing Supply Unit in the Department of Treasury will work with the Department of Communities, Department of Planning, Lands and Heritage and DevelopmentWA to deliver new measures to boost housing supply and affordability.
"We're investing a record $2.6 billion in housing and homelessness measures, including the delivery of 4,000 social homes and refurbishment and maintenance to thousands more."
