The McGowan 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 immediate focus of the stimulus, originally scheduled to begin in 2020-21, is on refurbishing 70 homes across the metropolitan and regional areas. Construction of up to 500 social and affordable homes will come 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 $150 million Housing Investment Package, originally announced in December 2019, was due to roll out from July but was brought forward as part of the McGowan Government’s responses to the current crisis.
The stimulus initiative is expected to create and support about 1,000 jobs and generate hundreds of millions in economic activity, 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.
Over the past 12 months, the McGowan Government has delivered a string of stimulus measures to support the building and construction sector and to protect and create jobs.
As stated by Housing Minister Peter Tinley:
“The coronavirus pandemic has completely changed the workplace landscape and has required both government and industry to demonstrate flexibility and agility in their response.
“Expediting various elements of this stimulus package will help maintain a pipeline of work for industry and provide greater certainty of continued employment for workers.
“It is estimated that the package will provide around 1,000 jobs in the property and home building industries, and generate hundreds of millions of dollars in economic activity.
“The McGowan Government continues to work closely with the housing construction sector to develop additional stimulus and support measures.”
As stated by Bicton MLA Lisa O’Malley:
“Bringing forward funding to assist the residential building sector offers a lifeline for small businesses and tradespeople who might otherwise lose their jobs.
“COVID-19 has impacted everyone, but the McGowan Government is working hard to overcome the challenge and make life better for all Western Australians.”
