Latest news with #HousingEnablingInfrastructureFund
West Australian
3 days ago
- Business
- West Australian
State Budget delivers on election commitments but more is needed
There were few surprises for housing in the 2025-26 State Budget, with funding allocated for previously announced election promises, including stamp duty concessions for first homebuyers, loans for modular housing and shared equity loans. REIWA has previously welcomed the increase to the thresholds for the first homeowner rate of duty but we would like to see the thresholds pegged to REIWA's median and lower quartile prices to ensure they better reflect market conditions and ensure the concessions are available to as many first homebuyers as possible. Similarly, we would like to see the threshold for the $2000 Home Buyers Assistance Account grant for first homebuyers increased and linked to REIWA's annual median. With housing supply continuing to be a key issue for Western Australia, the budget also provided a range of support for construction. This included allocating the first $101 million of the $400 Housing Enabling Infrastructure Fund to fund 21 projects, such as new wastewater plants and substations, to make the release of about 33,000 new residential housing lots viable. While we welcome initiatives making more land available, there are many other factors impacting the timely delivery of housing. Currently, this includes delays to obtaining land titles, which impacts the ability to start construction on new homes, as well as energisation, which significantly delays the handover of completed homes to their new owners. These issues need funding as well. The budget allocated $104 million to double the Government Regional Officer Housing (GROH) construction program, with the aim of delivering over 100 new homes in the regions over 2026-27 to 2028-29. The current shortage of GROH has seen government departments look to the private rental market to house staff and this has placed an additional burden on regional rental markets which are already severely challenged. We welcome the investment in GROH but note these homes are needed now. One potential solution is for the State Government to invest in modular housing itself to provide a solution for the regions more quickly. The budget allocated $246 million for 548 additional social and affordable homes. Our members have seen first-hand the toll the rental crisis has taken on the more vulnerable in our society and REIWA's 2025 State Election platform called for ongoing investment in social housing. We have welcomed the government's delivery of more social housing in the past couple of years and their continued investment, but we support the call from organisations like Shelter WA and Western Australian Council of Social Service for a greater commitment. You can read REIWA's full State Budget response on
West Australian
25-05-2025
- Business
- West Australian
Time to deliver on housing promises
The spotlight will be on the first budget of the newly re-elected Cook Government when it is handed down in late June. For many Western Australians, housing continues to be one of the most pressing issues which will receive funding initiatives in this budget. The squeeze of rising living costs, declining affordability and ongoing housing supply shortages are still being felt in many households across the state. To that end, UDIA WA welcomed WA Labor's housing commitments during the election campaign, many of which closely aligned with our own advocacy. Now, as we approach the first budget of the new term, we are expecting these promises to be backed with the funding needed to implement them. While the budget is likely to focus on those already-announced initiatives, there is also an opportunity to look at further initiatives to addressing the state's housing challenges. With smart, targeted investment, the State Government can partner with the private sector to deliver even more homes faster. Among the key commitments we expect to see funded is the $20.6 million to expand stamp duty exemptions for off-the-plan and under-construction homes by $100,000, including townhouses, villas and apartments. The State Government also promised $110.7 million to lift the First Home Owner Rate of duty threshold to $500,000, with discounts available for homes priced up to $700,000 in Perth and $750,000 in regional areas. We also anticipate $75 million for a Build to Rent Kickstart Fund and a $210 million boost to the Keystart shared equity scheme for up to 1000 new apartments and townhomes purchased off-the-plan or under construction, which will help deliver up to 1000 new homes for Western Australians. The $400 million Housing Enabling Infrastructure Fund is another significant initiative we fully support. Infrastructure investment is essential to unlocking housing supply and bringing new developments to life. But we can't stop there. UDIA WA is urging further funding to support the delivery of new homes and to help keep housing within reach for more people. This includes ensuring service agencies have the capital budgets they need to avoid delays to residential land development. We'd also like to see further funding allocated to build on the initial $400 million Housing Enabling Infrastructure Fund to catalyse residential development in key growth areas, as well as an extension and expansion of the existing Infrastructure Development Fund to boost the viability of apartment projects. UDIA WA has also recommended reforms to improve government efficiency and coordination in planning and approvals. Overall, this budget is an opportunity for the Cook Government to follow through and make a real difference to the future of housing in WA.
