More than 70 per cent of the first affordable homes being built under the Marshall Liberal Government’s $21.4 million housing stimulus have been sold or are under contract following a targeted push to support vital jobs and help more South Australians into homeownership.
In the 2019-20 State Budget, the Marshall Liberal Government committed to build 100 new homes to provide a steady pipeline of work for businesses and trades, as well as creating more affordable housing.
Construction on the majority of the 100 homes is now complete or in the final stages – and the Marshall Liberal Government has committed an additional $400 million to build 1000 new affordable homes by 2025.
The interest in affordable home sales is showing huge confidence in the market and an appetite for South Australians wanting to own their first home.
Today, the Minister for Human Services Michelle Lensink took at a “first-look” tour of one of the finished homes.
Of the 100 new homes:
* 71 are being sold as affordable
* Of the 71 homes, 51 are settled or under contract
* Of the 29 market homes, 26 are sold or under contract and 3 are still on the market
* Many of these homes are being sold for as little as $250,000 to $418,000
* Suburbs include Klemzig, Taperoo, Mount Barker, South Plympton, Kidman Park, Findon, Edwardstown, Mitchell Park, Elizabeth Park, Devon Park, Morphettville, Woodville Gardens, and Blair Athol
Homes offered under the Government’s Affordable Homes Program must be sold under the price of $365,000 (or $419,750 for homes which have lower ongoing living costs through energy efficiencies or location).
Minister Lensink said the Marshall Liberal Government’s housing stimulus was delivering on its intended two-pronged aim – supporting jobs and building more affordable housing.
“The surge in sales we’re receiving from our affordable homes build is very promising and shows there is a clear need for more affordable housing in South Australia – and we’re delivering that,” said Minister Lensink.
“Not only is the construction of these affordable homes providing a major shot-in-the-arm for our building and construction industry, we’re creating more homes for South Australians in what we know is a very challenging and tight housing market.
“That’s exactly why the Marshall Liberal Government has a new $400 million commitment to build 1000 additional affordable homes by 2025 so we can support people into homeownership and free up rental properties for other South Australians.
“Our first 71 affordable homes we’re building through many local builders are being sold from as little as $250,000 up to $418,000, so there’s a price point for everybody.
“There is no better time for low-and-moderate income South Australians to buy a home, with a range of Government grants now available to go towards their new purchase and record-low interest rates.
“Many of the homes are being built in suburbs within 20-to-40 minutes of the CBD, which is fantastic because it means people on moderate incomes are able to purchase a home much closer to the city than they would otherwise be able to.”
Site work on the first of the 1000 homes has begun – a key component of the Marshall Liberal Government’s new, once-in-a-generation $550 million housing and homelessness strategy.
Visit the Government’s new HomeSeeker SA website for exclusive affordable homes listings and more information: https://www.homeseeker.sa.gov.au/