Government agencies around Australia are standing up to support the campaign to end violence against women today for White Ribbon Day.
ALL THINGS P: The federal government wants to know which open data would be most useful to business, researc
We recently moved our readers to a new system. You may need to reset your password here to login.
Not a member ? Join here for free.
Forgot your password?
Home Features How they’re tackling housing affordability in the West
Text size :
TAGS Housing, housing affordability, WA Department of Housing, WA Premier's Awards, Western Australia
As housing affordability worsens, policymakers are looking to creative solutions. One prize-winning program in WA has already helped over 700 low income earners buy their own homes.
House prices are soaring in comparison to incomes, making life difficult for many and threatening to undermine national economic performance. Western Australia has devised an innovative policy solution.
Using a shared equity model, the Shared Home Ownership scheme allows low-earning prospective homeowners who meet certain criteria to purchase a property by sharing up to 30% of the capital cost with the Department of Housing and borrow the rest with a SharedStart loan through state mortgage lender KeyStart Home Loans.
The loan is directly linked to a major construction expressions of interest project that means the department is able to procure newly built, affordable dwellings in bulk from the market at discounted rates. The discount to market prices gained by the department become its equity share in the portfolio of properties.
In recognition of its achievements, the Department of Housing won the overall award at the 2014 WA Premier’s Awards for Public Sector Excellence and the “Developing the Economy” award for the scheme.
Receive unlimited access, get all the latest public sector news and features, plus The Juice, our daily news update sent direct to your inbox.
The Mandarin is where Australia's public sector leaders discuss their work and the issues faced within modern bureaucracy. Join today to discover the latest in public administration thinking and news from our dedicated reporters, current and former agency heads and senior executives.
David Donaldson is a journalist at The Mandarin based in Melbourne. He's previously written for The Guardian and Crikey and holds a masters in international relations.
Read Related Content
Western Australia has embarked on significant reform of its funding program for schools. The Education Minister announced more details today.
The scheme was successful in dragging 700 immigrants into the Perth property ponzi, but will ultimately be unsuccessful in keeping the bubble inflated.
Just another scheme designed to keep the property bubble from bursting.