Some 17,000 new homes will be built across South Australia, 7000 of them for first-time buyers, under a joint federal-state deal.
Prime Minister Anthony Albanese and SA Premier Peter Malinauskas announced details of the agreement in Adelaide on Saturday.
Key elements of the plan will see $300 million in concessional loans granted to deliver additional water infrastructure in the city’s north, unlocking 4000 dwellings.
A $50m, three-year loan will fund civil works to establish a first-home-buyer-only precinct of 400 dwellings within the northern suburbs’ Playford Alive development.
A further loan of $184m will support the delivery of more than 1700 homes across multiple urban renewal projects in Adelaide.
And $133m in grant funding, matched by the SA government, is slated to deliver 750 dwellings for first-home buyers through complementary programs.
Urban Development Institute of Australia president Oscar Stanley says the $800m agreement demonstrates the kind of supply-focused reform needed to unlock housing delivery at scale.
“The industry applauds the government’s supply-focused measures that create a template for housing creation around Australia and also provide a test-bed to fast-track housing which is often held up by planning and enabling infrastructure,” Mr Stanley said.
The plan makes SA the first state to sign on to the federal government’s 2025 election plan to build 100,000 homes nationally for first-home buyers.
Australian Associated Press is the beating heart of Australian news. AAP is Australia’s only independent national newswire and has been delivering accurate, reliable and fast news content to the media industry, government and corporate sector for 85 years. We keep Australia informed.
