Landmark state-federal housing agreement announced
Under the joint federal-state agreement, around 17,000 new homes will be built in South Australia, including 7000 for first-time buyers.
Prime Minister Anthony Albanese and SA Premier Peter Malinauskas announced details of the agreement in Adelaide on Saturday.
Key elements of the plan will include $300 million in concessional loans to provide additional water infrastructure in the city’s north and unlock 4,000 homes.
The $50 million, three-year loan will fund construction work to create a 400-home first-home buyer-only precinct as part of the Playford Alive project in the northern suburbs.
An additional $184 million loan will support the delivery of more than 1700 homes across multiple urban renewal projects in Adelaide.
The $133 million in grant funding from the SA government is planned to deliver 750 homes to first home buyers through complementary programmes.
Oscar Stanley, president of the Urban Development Institute of Australia, said the $800 million deal demonstrated the type of supply-led reform needed to unlock housing delivery at scale.
“The industry appreciates the government’s supply-led measures, which have created a template for housing production across Australia, as well as providing a test bed for rapid housing production supported by the planning and activation of infrastructure,” Mr Stanley said.
The plan makes SA the first state to sign up to the federal government’s 2025 election plan to build 100,000 homes nationwide for first home buyers.
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