This article is from the Australian Property Journal archive
THE Western Australian government is establishing a new unit to boost housing supply and affordability across the state.
The dedicated Housing Supply Unit will be responsible for producing economic forecasts for WA and the development of market-driven housing policies.
The new unit will be established within the Department of Treasury and will report to the Residential Lands and Housing Delivery Ministerial Oversight Committee.
“Our government is using every lever we can to accelerate the delivery of housing throughout Western Australia. My laser focus is doing everything we can to boost housing supply,” said John Carey, housing minister.
“We’re investing a record $2.6 billion in housing and homelessness measures, including the delivery of 4,000 social homes and refurbishment and maintenance to thousands more.”
The unit will develop market-driven housing policies including measures to boost supply and improve choice and affordability.
This will include consultation with the residential building industry and the property development sector to identify specific barriers to increasing supply.
As well as working with other agencies and Government Trading Enterprises to address those barriers.
Due to its placement in the treasury, the unit will be able to provide budgetary and economic advice to the government.
“The is the first time we have established a dedicated housing unit within the Department of Treasury, which highlights how important this issue is to our Government,” said Rita Saffioti, treasurer.
“The Department of Treasury has significant strength in providing economic and fiscal advice to Government and is ideally placed to provide strategic guidance with significant national investment expected to flow following the passing of the HAFF by the Federal Government.
The unit will also support the drive for WA’s fair share of funding from the Commonwealth from pools of funding such as the Housing Australia Future Fund, the New Home Bonus, Housing Support Program and funding through Housing Australia.
“The Unit builds on our Government’s significant recent investments to boost housing supply and affordability, including the $750 million housing package in the 2023-24 Budget and the recent extension of the off‑the-plan transfer duty concession to apartments under construction,” concluded Saffioti.
