Reaching a major milestone, the Liberal National Government has this week completed delivery of 20,000 affordable homes across Western Australia since 2010.
The Government committed to at least 20,000 homes by 2020 under its 'Opening Doors' Affordable Housing Strategy.
Premier Colin Barnett today announced a new target of 30,000 affordable homes by 2020.
"This strategy has changed the lives of thousands of West Australians by giving them a place to call home but there is still more to be done," Mr Barnett said.
"I am proud to announce the Government has not only delivered on its promise early but is now committing to a further 10,000 homes by the original deadline."
The Premier announced the new target at the Abode Apartments in West Perth, where he handed over the keys for the 20,000th home to Sheree Beven, an applicant from the social housing priority wait list.
Abode Apartments in West Perth
"The strategy has worked across the housing spectrum, from affordable land and housing sales and Keystart home loans to social housing and affordable rentals," Mr Barnett said.
"Projects such as Abode are excellent examples of how the Government has changed the way it does business by using its own land to secure private sector finance and expertise to deliver more affordable options as part of broader housing developments."
Housing Minister Colin Holt described the 86-unit Abode development at City West as a shining example of the Affordable Housing Strategy at work, bringing much needed diversity in housing choice to the inner city.
"Abode is the second inner-city development in which the Government has provided land and partnered with this developer to deliver a range of housing choices in great locations close to transport, employment and services," Mr Holt said.
"This is a model for future developments, delivering significant affordability outcomes in addition to a focus on diversity and innovation."
The State Government has previously partnered with Diploma Properties to build One on Aberdeen, which has delivered 161 apartments for inner-city living, and strong affordability outcomes.
"Creating pathways beyond social housing for low-to-moderate income households is fundamental to the Government's strategy," Mr Holt said.
"Rather than being a passive seller of the land, the Government has been an active equity partner - effectively leveraging over $70 million in private sector investment for the One on Aberdeen and Abode developments."
The 20,000 affordable homes delivered since 2010 under the State's Affordable Housing Strategy includes 10,000 low-deposit Keystart home loans, 1,900 shared equity homes, 2,700 discounted private rentals and 5,400 social housing properties.
A/Director General of Housing Paul Whyte, Sheree Beven, Sue Iles and John Pynes who helped Sheree transition into her new home
- Keystart has provided nearly 60,000 low-deposit loans over the past 25 years, with 86% of current borrowers being first homebuyers
- Department of Housing and its partners have delivered 15% of all land supply in WA over the past five years, with an average of 80% below the median land price for Perth
- 28% of Abode's 86 apartments are for people on low-to-moderate incomes - including social housing, private rentals through the National Rental Affordability Scheme and shared equity home ownership.