A landmark new investment partnership between the Albanese and Cook Labor Governments will deliver almost 1,800 social and affordable homes for Western Australia, in one of the single biggest boosts to affordable housing stock in the State's history.
The agreement, through the Federal Government's Housing Australia Future Fund Facility (HAFFF) and the National Housing Accord Facility (NHAF), will see the State Government directly contracting builders to deliver 21 new social and affordable housing projects near METRONET stations and on other Government-owned land.
The projects comprise a mix of affordable rentals and social housing, with projects packaged together to create a pipeline of work for the State's building industry and to attract builders from the east coast.
These new dwellings will be constructed on State-owned land and the completed dwellings will be sold to and managed by the Community Housing sector, with Availability Payments attached to support affordable rental dwellings for Western Australians.
Under the proposal, the Cook Government will initially invest $443 million to fund the upfront construction costs of the new homes, which will then be sold to Community Housing Providers (CHPs).
Subject to agreements being finalised with Housing Australia, CHPs may have access to concessional loans from the HAFFF and NHAF and may also be able to apply for senior debt through the Housing Australia Affordable Housing Bond Aggregator (AHBA), as well as ongoing subsidies to support their repayments over a 25-year period.
Around 20 per cent of the homes will be available as social housing, with 80 per cent to become affordable community housing.
The investment also presents a significant opportunity to attract new CHPs to WA and build capacity in the sector.
The first tranche of projects will consist of 14 developments in Ellenbrook, Byford, Brabham, Redcliffe, Wellard, Woodbridge, Banksia Grove, Rivervale, White Gum Valley, Subiaco East, Albany, Dallyellup, Golden Bay, and Treeby - delivering nearly 1100 new homes.
DevelopmentWA and the Department of Communities will release tenders for the first tranche of projects in coming months, with construction to commence next year.
Detailed design will commence on a further seven projects in Cannington, Ballajura, Butler, Midland, Kelmscott, Subiaco, and Bassendean.
The Albanese Labor Government looks forward to finalisation of agreements between the WA Government and Housing Australia to facilitate these outcomes.
The Cook Labor Government has invested $3.6 billion into housing and homelessness measures since 2021-22, while the Albanese Labor Government has committed $32 billion to help Australians to build, rent, and buy.
As stated by Prime Minister Anthony Albanese:
"I grew up in social housing - I know how important a roof over your head is, and the opportunities it brings.
"We are working with the Cook Labor Government to deliver thousands of new affordable and social homes close to public transport links for people who need it most.
"This is part of our $32 billion plan to deliver more than one million homes across Australia.
"My Government is determined to pull all levers to build houses, it's disappointing to see the Coalition blocked and voted against our legislation this week that will see more homes built across the country."
As stated by Western Australian Premier Roger Cook:
"My WA Labor Government is throwing everything at getting more Western Australians into a home.
"This landmark new partnership with the Albanese Labor Government will build the affordable homes our growing State needs, right where we need them.
"It means we have a sustainable pipeline of affordable housing projects now and in coming years.
"Our nation leading housing plan is fast-tracking approvals, unlocking more land and getting more houses built, faster - because we'll always do what's right for WA."
As stated by Federal Housing and Homelessness Minister Clare O'Neil:
"I'm so pleased to announce such a large investment in social and affordable housing in the great state of Western Australia. It means that thousands of Western Australians will have well-positioned, safe and secure places to call home.
"The Albanese Government will continue working closely with the WA Cook Government to build more homes, because more homes means more affordable housing for everyone."
As stated by Treasurer Rita Saffioti:
"Our Government continues to drive investment and new initiatives to deliver more housing for Western Australians.
"This partnership with the Albanese Government will ensure a strong pipeline of job-creating housing projects for the years ahead and provide more homes for people in need across our communities.
"Our commitment to housing supply and affordability is unwavering, and we will continue utilise every opportunity to maximise housing options for as many Western Australians as possible."
As stated by Housing and Homelessness Minister John Carey:
"The Cook Labor Government is investing a now record $3.6 billion in housing and homelessness measures.
"I've been very clear, we're not stopping our reforms to boost housing supply and today we've announced a further $443 million commitment for 21 new social and affordable housing projects - delivering nearly 1,100 new homes in the first tranche.
"Partnering with the Albanese Government is delivering major housing projects in WA, including the Pier Street and Smith Street build-to-rent projects, and is in vast contrast to the previous Liberal-National Government who showed no interest in boosting housing in WA."
