Major investment in housing stock to support those most in need

  • 2024-25 State Budget to inject more than $840 million into social and affordable housing and homelessness initiatives to increase supply and support across WA
  • Expanded Social and Affordable Housing Investment Fund builds on record funding
  • Cook Labor Government helping those most in need with almost 5,000 additional social homes now funded, including more than 2,100 already delivered
  • $92.2 million boost for homelessness support services and case management to help vulnerable Western Australians into permanent accommodation

The Cook Government has bolstered its delivery of social and affordable housing and homelessness initiatives, with an additional $843 million included in this week’s Budget.

The funding boost brings the State Government’s total new investment in housing and homelessness measures since 2021-22 to $3.2 billion.

The 2024-25 State Budget will include an additional $400 million in funding to expand the Social and Affordable Housing Investment Fund (SAHIF) to support the delivery and refurbishment of social housing stock, and provide vital housing to the most vulnerable members of the community.

This latest investment in the SAHIF brings the total number of new social homes funded in this term of government to almost 5,000 of which more than 2,100 have already been delivered. More than 1,500 homes have also been refurbished, significantly extending their useful life.

The expansion of the SAHIF will also help support a pipeline of affordable multi-residential housing across priority sites, including METRONET precincts, by partnering with the Commonwealth through Housing Australia and the community housing sector.

A further $144 million will be provided to accelerate priority affordable housing projects including Pier Street in Perth, while $179 million in additional funding will be invested to maintain the State’s portfolio of around 45,000 social, key worker and Aboriginal homes.

Acknowledging the important role that National Rental Affordability Scheme (NRAS) properties have played in providing affordable options, the State Government will also selectively spot purchase NRAS properties to convert to social housing over time. NRAS is a Federal Government initiative implemented and funded from 2008 that is set to end by 2026.

The additional social and affordable homes for vulnerable Western Australians will be complemented by the Cook Government’s major $92.2 million funding boost in the 2024-25 State Budget for critical homelessness support services and case management to assist more people experiencing homelessness into permanent accommodation.

As stated by Premier Roger Cook:

“We are doing everything we can to boost the supply of housing, social housing and rentals across WA amid significant demand for properties.

“In recognition of cost of living and housing challenges across the country, my Government’s State Budget this week will include this significant investment and other initiatives, to help get more vulnerable Western Australians into homes.

“There is no doubt that housing supply is a key challenge right now, and that’s why my Government is leaving no stone unturned when it comes to the issue of housing.

“We are also making major investments in training to grow our construction workforce and speed up delivery of homes, and boost supply of affordable housing and rentals so social housing is available for those most in need.”

As stated by Treasurer Rita Saffioti:

“With Western Australia’s rapidly growing population, we continue to invest significantly in boosting social and affordable housing to support those most in need.

“The additional spending in this Budget will see the number of new social homes funded by our Government during this term grow to nearly 5,000 while we continue to invest in a range of other measures that will help boost overall supply.

“We recognise the housing challenge will require ongoing investment and our Government is committed to looking at all opportunities to address housing supply and affordability.”

As stated by Housing Minister John Carey:

“Our Government continues to do everything we can to bolster the supply housing in-particular for those who need it most with more than $840 million of investment towards social and affordable housing reforms and homelessness initiatives.

“I want to be clear we’re not stopping our ambitious housing reform program which now includes delivery of almost 5,000 social homes, as well as maintenance and refurbishment to be undertaken to thousands of dwellings across the State.

“We’ve already added more than 2,100 social homes across Western Australia, with a further 1,000 social homes currently under contract or construction.

“This additional investment totalling more than $840 million will provide a boost to social and affordable housing throughout the State and provide a major uplift in funding to more than 120 critical homelessness services across WA.”

/Public Release. View in full here.