- 100 new homes have been built, 79 are designated as affordable housing
- Some homes have been sold for as little as $250K
- Funding comes from $400 million package
The South Australian Government has announced over 70% of the first affordable homes being built under its $21.4 million housing stimulus have been sold or are under contract.
Specifically, of the 100 new homes, 71 are being sold as affordable with 51 settled or under contract. The remaining 29 homes are designated as market homes – as opposed to affordable – and currently, 26 are sold or under contract with three still on the market.
The Government says it has spent $21.4 million on building these 100 houses.
Most of the homes are being sold in the $250,000 to $418,000 range with suburbs including Klemzig, Mount Barker, South Plympton, Mitchell Park and Woodville Gardens.
Under the South Australia Government’s Affordable Homes Program, houses must be sold under $365,000 with the limit increasing to $419,750 for houses that have lower ongoing living costs, such as greater energy efficiencies or because of location. This includes the new 34-apartment Nightingale Bowden development near Adelaide’s CBD.
Michelle Lensink, the Minister for Human Services, said the project is delivering on its two aims – to support jobs and build more affordable housing for locals.
“The surge in sales we’re receiving from our affordable homes build is very promising and shows there is a clear need for more affordable housing in South Australia – and we’re delivering that.”
“Not only is the construction of these affordable homes providing a major shot-in-the-arm for our building and construction industry, we’re creating more homes for South Australians in what we know is a very challenging and tight housing market.”
Michelle Lensink, Minister for Human Services
The State Government has announced a $400 million package to deliver 1,000 additional affordable homes by the middle of this decade, which falls under a broader $550 million housing and homelessness strategy.