CANBERRA, ACT, Jan. 31 -- The Prime Minister of Australia issued the following media release:
The Albanese and Malinauskas Labor Governments have struck a deal to unlock 17,000 new homes for South Australians, including nearly 7,000 for first home buyers.
Both Labor Governments are determined to build more homes and help first home buyers achieve their dream of owning a home.
The $801.5 million deal announced today is a major milestone in the delivery of the Albanese Government's 2025 election commitment to help build 100,000 homes for first home buyers, in partnership with state governments and industry.
In addition to 6,877 new homes for first home buyers under the South Australian and Commonwealth Government deal, it will also unlock approximately 10,000 additional homes for other home buyers, adding significant housing supply.
The Albanese Government will provide $667.9 million in support to pave the way for these houses to be built and tackle major housing supply barriers including:
* A $300 million concessional loan to deliver even more water infrastructure in the Northern Suburbs, that will directly unlock and deliver 4,000 homes.* A $50 million 3-year concessional loan for civil works to deliver a new first homebuyer-only precinct of 400 homes within the Playford Alive urban renewal development.* A $184 million concessional loan to deliver over 1,700 homes at multiple urban renewal projects across metropolitan Adelaide.* $133.6 million in grant funding, which South Australia will match, to deliver 750 dwellings for first home buyers through other programs.
Construction will be fast-tracked so that the first of these homes will commence construction in 2026/27 with first home buyers moving in from 2027/28.
This builds on the Albanese Government's $45 billion plan to build more homes and make them easier for first home buyers to buy, including:
* Working with states, territories and industry to remove barriers to building through the National Planning Reform Blueprint, reforms to environmental approvals and a pause and streamlining of the National Construction Code.* Training more tradies through our investments in Free TAFE and $10,000 apprenticeship incentives.* Delivering 55,000 social and affordable homes for those doing it toughest through initiatives like the Housing Australia Future Fund.* Helping more than 220,000 first home buyers to buy their own home under the 5% Deposit Scheme.* Launching the national Help to Buy shared equity scheme for those most locked out of home ownership
Even in the face of a Liberal and National Party that's divided and destructive, Labor is delivering. The former Coalition opposed this policy and the tens of thousands of homes that it's unlocking, alongside help for first home buyers and our other supply measures, including the Housing Australia Future Fund, tax cuts for Build to Rent developments, Help to Buy and the $3 billion New Homes Bonus.
While there's still more work to do to fix a housing crisis generations in the making, this deal represents a great step forward for South Australians.
Quotes attributable to Prime Minister Anthony Albanese:
"We're determined to make it easier for young people and first home buyers to achieve the dream of owning a home.
"Thanks to this agreement we've reached with Peter Malinauskas and his Government, there will be thousands more South Australians getting the keys to their very own home.
"We know the housing market is tough, and we want Australians to know that Labor has got your back."
Quotes attributable to the Premier of South Australia, Peter Malinauskas:
"Our Government is throwing everything at building more homes for South Australians.
"There are already more homes under construction in the state than at any point in history.
"Now, thanks to our agreement with the Albanese Government, this work is about to reach a new level.
"For first homebuyers, this announcement means the dream of owning your own home will become significantly easier in South Australia.
"This is a partnership of two busy Labor Government's delivering for South Australians."
Quotes attributable to the Minister for Housing, Clare O'Neil:
"We're putting first home buyers at the heart of our home building program, making sure that when we build more homes - first home buyers benefit.
"We said we'd make it easier for first homebuyers to get into homeownership and that's exactly what this deal does.
"This is what Labor Governments do - we're building a better future for first homebuyers by unlocking more homes just for them, right across South Australia.
"Whether it's homes for first-time buyers, affordable social housing, more options for renters or unblocking the supply pipelines, our government is tackling this crisis from all angles and making a real difference to the lives of thousands of Australians."
Quotes attributable to the Minister for Housing and Urban Development, Nick Champion:
"Numerous industry groups celebrate the Malinauskas Labor Government as a national leader in housing policy.
"The work to create this momentum has put South Australia in a position to strike the first deal to deliver the Albanese Government's ambitious 100,000 homes commitment.
"Our incredible momentum in tandem with the Albanese Government's investment in South Australia will mean even more homes for South Australian first homebuyers will be delivered."
Disclaimer: Curated by HT Syndication.
