After just 48 hours on the market, 12 affordable homes for sale under a $400 million Marshall Liberal Government housing stimulus sold, further demonstrating the huge demand for first-home buyers wanting to get their foot in the door of homeownership.
The two-bedroom homes, being built by Metricon Homes’ EveryOne division in Dover Gardens, were for sale at $420,000 but an eligible applicant using a HomeStart financial assistance package (shared equity) paid as little as $318,150.
The homes sell at fixed prices, meaning eligible low-and-moderate income South Australians are not competing at sky-high auctions.
Since the 12 new affordable homes were launched on the Marshall Liberal Government’s exclusive HomeSeekerSA website:
- All 12 homes in Dover Gardens sold in just 48 hours
- The real estate agent received a whopping 160 enquiries within 24 hours of the homes being on the market
- All homes were sold to low-and-moderate income South Australians
- The majority of homes were purchased by first-home buyers
In addition to helping more South Australians into homeownership, the Marshall Liberal Government’s initiative to deliver 1000 new affordable by homes by 2025 is injecting hundreds of millions into the economy, creating 467 jobs per year – and almost 2500 jobs – by 2025.
It comes after the success of a $21.4 million stimulus delivering 100 new homes, 71 of which were sold as affordable. All homes are now sold.
A further 19 homes being built by Scott Salisbury under the 1000 homes stimulus also sold quickly.
Minister for Human Services Michelle Lensink said this deliberate and targeted housing stimulus was a “clear winner” with women and young South Australians.
“There is no doubt our strong, clear plan to deliver hundreds of new affordable homes right across South Australia is hitting the mark with South Australians wanting to get into homeownership,” said Minister Lensink.
“In what is a challenging and tight housing market, the proof is in the pudding that our stimulus is both popular and much-needed given the lightning speed in which these homes are being snapped up by first-home buyers.
“Not only is the Marshall Liberal Government supporting more South Australians into their own homes, we’re delivering a targeted, steady pipeline of work during the COVID-19 and pandemic, supporting vital jobs at this time.”
NCrealestate director Nick Coulls said: “Young South Australians are quickly being priced out of the market, so First Home Buyers have understandably reacted quickly to secure a new Metricon home with the certainty they don’t have compete against investors or interstate buyers.
“As we see in most of our projects, first home buying females made up the majority of the affordable homes enquiries at 62 per cent.
“Homes under the scheme are sold on a first in first served basis to eligible HomeSeeker buyers only.
“Fixed price contracts mean buyers can’t offer too low, but they can offer too slow. We encourage anyone who is interested in our next release to understand their eligibility, have their preapprovals ready and register nice and early.”
There are more affordable homes for sale now on the Government’s exclusive new affordable HomeSeeker SA website: www.homeseeker.sa.gov.au