Investing in housing and homelessness initiatives
The 2024-25 Budget delivers $1.1 billion for housing and homelessness, bringing total new investment since 2021-22 to $3.2 billion. This includes funding for social and affordable housing, and for homelessness services, expanding the capacity of the residential construction workforce, and boosting regional land supply.
Social and affordable housing
- $400 million additional funding for the expanded Social and Affordable Housing Investment Fund, bringing the total number of new social homes to almost 5,000, with more than 2,100 already delivered.
- Funding available to support affordable housing projects in partnership with the Commonwealth through Housing Australia funding and the community housing sector.
- $179 million maintenance investment for WA’s 45,000 social homes, government worker housing and other assets.
- $144 million to deliver new housing projects, including at Pier Street in Perth.
Homelessness
- $92 million to support more than 120 critical homelessness services across the State, as well as wrap-around services for rough sleepers to transition into permanent accommodation.
Expanding construction sector workforce
- $85 million to boost the capacity of our residential construction workforce, including:
- $21 million for an additional 150 places to subsidise wages for new apprentices and trainees for Group Training Organisations.
- $37 million to provide incentives to complete apprenticeships, including tool allowances and milestone payments.
- $4 million to continue the Construction Migration Office to attract skilled migrants.
Affordability and rental supply
- $82 million to increase the stamp duty exemption threshold for first home buyers to $450,000 and increase the concession threshold to $600,000, assisting almost 5,000 first home buyers per year, and increasing the total saving to up to $15,390 in stamp duty.
- $5 million for $5,000 incentive payments to encourage owners of vacant homes to make them available on the rental market.