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34k new homes to land on WA market
The federal and Western Australian governments have announced a joint investment of more than $2 billion to deliver more than 34,000 homes.
The multibillion-dollar deal forms part of the $4.7 billion investment in housing and homelessness in the 2026–27 Western Australia state budget.
As part of the joint investment, $1 billion will be allocated to several government initiatives to deliver more than 30,000 new homes statewide, including 11,000 exclusively for first home buyers.
The agreement includes more than $500 million to provide water and power infrastructure to support new home development, as well as almost $700 million for land development works in METRONET station precincts, new residential estates, and regional Western Australia.
Additionally, the agreement includes support for first home buyers through the Urban Connect Shared Equity program, whilst establishing the First Home Buyer Commercial Financing Facility.
The Urban Connect Shared Equity scheme will allow the state government to take a 35 per cent share in a home, reducing the cost by up to $250,000, while the Commercial Financing Facility will provide low-cost financing for multi-unit developments that offer affordable homes for FHBs.
The new homes and residential lots delivered under the deal are expected to become available over time, starting in 2027, easing some of the pressure on the state’s housing market.
Federal Minister for Housing, Homelessness and Cities, Clare O’Neil, said the investment in housing would help deliver affordable housing as the state’s property values continue to rise.
“This is about something simple, making sure young Western Australians can afford a home of their own,” O’Neil said.
“Right now, too many Western Australians feel locked out of the housing market.”
“This investment is about changing that, building more homes and backing first home buyers to get in.”
Deputy Premier and Treasurer Rita Saffioti said the initiatives would supercharge housing supply and affordability across the state.
“Every Western Australian deserves a secure place to call home, which is why we’ve made housing our number one priority in this year’s state budget,” Saffioti said.
“We’re proud to have secured this landmark funding agreement with the federal government, which will deliver thousands of new homes for Western Australians and put home ownership within reach for many.”
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