One thousand new Housing Trust homes will be built in 1000 days to provide a valuable boost to South Australia’s housing and construction industry.
Treasurer Tom Koutsantonis said the 2015-16 Mid-Year Budget Review, to be handed down tomorrow, will include $208 million over three years to help stimulate the housing and construction industry.
It builds on the $65 million public housing package announced in 2015-16 State Budget to renovate and rebuild ageing Housing Trust homes to stimulate the sector.
The 1000 homes in 1000 days program will include:
- The acceleration of the self-funding Better Neighbourhoods Program to replace ageing
- Housing Trust homes with new social housing.
- More than 500 new Housing Trust homes across greater Adelaide including Mount Barker and in regional locations including Naracoorte, Goolwa and the Barossa Valley. The program will be funded through the sale of land and old Housing Trust stock. “This is an industry that employs thousands of South Australians.
This program will provide some certainty to this important sector,” Mr Koutsantonis said.
“It is estimated this initiative will create about 400 jobs in 2016 before ramping up to about 500 jobs in its second and third years.
“By providing these opportunities for industry to build 1000 homes in 1000 days, it will deliver a boost to metropolitan and regional economies.”
Deputy Premier John Rau said the program would not just create jobs but provide better homes for Housing Trust tenants.
“We are looking at building these new homes on existing public land in suburbs across greater Adelaide and in regional areas.
“This includes areas with large numbers of old Housing Trust homes.
“A lot of the stock currently owned by the Housing Trust isn’t serving the needs of tenants, with more demand for smaller dwellings expected to increase as the demographic changes.
“This allows us to increase density in sought after suburbs and locate people close to the services they need like transport and schools.
“Through this program we are providing a much needed boost for the construction industry, supporting local jobs and better serving the needs of Housing Trust tenants.”
The program will complement the Renewing Our Streets and Suburbs strategy that will see the regeneration of all Housing Trust dwellings that pre-date 1968, within the next 15 years.
Source: News Release, South Australian Government, 06 December, 2015