³Ô¹ÏÍøÕ¾ Cabinet identified a series of priority reforms around planning, land release and boosting renters’ rights, most of which are already underway in SA under the Malinauskas Government’s plan for A Better Housing Future.
The $474.7 million plan funded in the June State Budget includes a host of measures to boost housing supply, cut taxes for first homebuyers and offer a fairer deal for renters.
At ³Ô¹ÏÍøÕ¾ Cabinet in Brisbane on Wednesday, the Prime Minister committed $3 billion in incentive payments to states and territories who deliver more than their share of a million new homes, while a further $500 million competitive funding program will be available to state and local governments to kick-start supply.
As part of A Better Housing Future, the Malinauskas Government is already:
- Fast tracking the single largest release of residential land in the state’s history;
- Abolishing stamp duty for first home buyers on new homes valued up to $650,000 or vacant land up to $400,000 to build a new home;
- Strengthening renters’ rights including banning no cause evictions and rent bidding, extending minimum notice periods, allowing pets in rentals, raising bond thresholds, and expanding the Private Rental Assistance Scheme;
- Fast tracking approvals for new homes in key areas;
- Delivering the first substantial increase to public housing in a generation – building an additional 564 public homes and stopping the sale of 580 others;
- Preparing around 700 additional affordable homes at Prospect, Bowden and Playford to be delivered under the ³Ô¹ÏÍøÕ¾ Housing Accord;
- Developing the former Adelaide Bus Station site on Franklin Street to deliver more than 130 social and affordable apartments;
- Delivering new housing developments for key workers in regional South Australia through a new Office for Regional Housing in Renewal SA, and
- Preparing a new 2 per cent deposit home loan through ³Ô¹ÏÍøÕ¾Start for first home buyers building a new home.
As put by Peter Malinauskas
We are leading the nation with our targeted interventions to boost supply in the housing market and make the system fairer for renters.
The priorities identified by ³Ô¹ÏÍøÕ¾ Cabinet are a strong endorsement of my Government’s actions, from the moment we unveiled our housing package in February.
I welcome the Federal Government’s decision to incentivise rapid action to boost new supply into the housing market, and I thank the Prime Minister for recognising this opportunity.
Given our actions around planning reforms, land release, tax relief and fast tracking of approvals, we are well placed to capitalise.
Ultimately, we are united in our mission – delivering more safe, secure and affordable homes for more South Australians.
