New housing stimulus package to deliver affordable housing
The State Government has announced an Affordable Housing Stimulus Program to deliver about 175 homes and support more than 500 jobs over the next 18 months.
The 2013-14 State Budget will provide $88.7 million funding to support the program, which will provide a critical boost to the housing construction industry in South Australia.
Premier and Treasurer Jay Weatherill said the construction industry had been under significant pressure and the new raft of measures would support jobs in construction and provide access to affordable housing.
"We want to support the builders, tradespeople and workers in the housing construction industry who have been doing it tough in recent times," Mr Weatherill said.
"We know that many South Australians are struggling with cost of living pressures - and housing is the single biggest expense in a household budget.
"That's why we have made An Affordable Place to Live one of the State Government's seven strategic priorities and it will be supported with funding in the State Budget."
The Affordable Housing Stimulus Package includes three main initiatives:
- $38.7 million to extend the $8500 Housing Construction Grant for people buying or building a brand new home.
- $30 million for a social housing investment program to build 100 new social housing dwellings.
- $20 million for a capital grant program for community housing to partner with community housing providers to activate stalled developments and deliver approximately 75 homes.
As part of the stimulus package, the State Government also will deliver a range of existing housing projects more quickly.
In total, all of the initiatives will mean construction will start on more than 930 homes over the next 18 months, making a total investment in affordable housing of $220 million, which will support more than 2400 jobs.
Social Housing and Disability Minister Tony Piccolo said that of the approximately 175 new social housing dwellings, 15 per cent will be for people with disabilities.
"Everyone deserves to have somewhere secure to live and this investment in affordable housing and other accommodation will provide that for some of the most disadvantaged people in our community," Mr Piccolo said.
"This building program will also help to stimulate the local housing industry in what is a difficult time for that sector, particularly in the regions where some of these homes will be built."
The State Government will reconvene the housing industry roundtable on Monday to bring industry representatives together to work on ensuring the stimulus package provides the maximum benefit to the South Australian economy.