The Western Australian Government is bringing forward funds earmarked in a $150 million housing investment package, to help maintain a pipeline of work for local tradies and building businesses. The Housing Investment Package, originally announced in December 2019, was due to roll out from July but has been brought forward as part of the Government's response to the impact of the COVID-19 pandemic.
The immediate focus of the stimulus, originally scheduled to begin in 2020—21, is on refurbishing 70 homes across the metropolitan and regional areas, with construction of up to 500 social and affordable homes coming on line as the package unfolds.
Housing Minister Peter Tinley announced the move today to boost the residential construction sector, following calls for greater certainty of ongoing work in the face of the COVID-19 pandemic. The stimulus initiative is expected to create and support about 1,000 jobs and generate hundreds of millions in economic activity as part of the construction work, with the outcome of providing more social and affordable housing for people on low incomes or at risk of homelessness.
The package also includes $19.2 million for 200 additional shared equity homes, delivered in partnership with Keystart — WA's low deposit home ownership scheme.