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Western Australia Minister for Housing Bill Marmion

High End Property Sales Raise $17 Million For Public Housing

Victor P Taffa

Housing Minister Bill Marmion today announced that sales across 12 months of 18 high value State Government homes had raised $17,268,500 for Public Housing.

“These sales realised an average of close to a Million Dollars per House.” Mr. Marmion said.

“At the end of July 2010, the Government has used the money raised from the high value property sales to purchase 25 Public Housing dwellings worth $10.5 Million.”

The Minister said the remaining funds would be reinvested in public housing, including purchasing or building new properties.

“The last home sold, on Alfred Road, Mount Claremont, had a sale price of $1,025,000.” the Minister said.

“This is the type of property we are targeting under this initiative. This is an excellent result and a policy that delivers real outcomes for the community.”

“The High Value Property Strategy is another one of this State Government’s initiatives to address the problem of the growing public housing waiting list a legacy of the previous Labor government.” Mr. Marmion said.

“We are working hard on this problem by boosting public housing stock, reviewing eligibility for public housing and cracking down on anti-social behaviour.”

“Our Government wants to encourage eligible tenants to move into the private rental market or, with the help of our shared equity loan schemes, take the step to buy their first home.”

The Policy identifies State-owned properties of high market value and well above the median house price.

In the June 2010 quarter, the median house price for the Perth Metropolitan Area was $490,000.

“The Government’s review of its housing stock will continue.  We will identify more high value properties in the future to sell under this program.” Mr. Marmion said.

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