Back in 2020, on 7th June, the Western Australian Government made an announcement of a housing stimulus package of approximately triple $444 million to help other states recover from the aftermath of the global pandemic. For anyone who wants to understand the Western Australia housing stimulus better, keep reading to know about some important aspects of this stimulus below-
One of the most important aspects of the Western Australia housing stimulus is the delivery package of $319 million under the Social Housing Economic Recovery Package also known as SHERP. The main idea behind SHERP is to improve the quality and condition of the homes under the social housing category.
At present, there are three separate workstreams that are being targeted by the SHERP that include the following.
Under Workstream 1, approximately $97 million will be allotted to either buy or build some 250 new housing properties in different regions and metropolitan areas.
Under Workstream 2, approximately one $42 million will be allotted to refurbish the existing 1500 residential and public houses available for the community.
Under Workstream 3, approximately 3800 social housing properties in the region will be targeted with a maintenance program that costs up to $80 million. This includes all remote communities as well as housing for government workers as a subsidy.
According to the Western Australia housing stimulus, under their SHERP plan, a minimum of 1700 jobs will be supported, out of which at least 55% will belong to the regional areas. Other than this, if you discuss an economic activity, another six $60 million are expected to be collected from the entire state out of which $300 million will come from the remote and regional areas.
Additionally, under the Workstream 2 category, the stream of refurbishment will be targeted to create opportunities of accommodation for refugees, disability accommodation, childcare accommodation, etc., for maximum support.
Overall, the main idea behind the introduction of Western Australia housing stimulus is to help reduce the major impact of the global pandemic on the community. With the help of this new stimulus, the housing properties for the social population will improve evidently, with increased comfort and accessibility to these new properties.
Moreover, additional effort Will be taken now to create more opportunities for employment under SHPRP to support the locals, women, youth, and many more. Just like every other country government, the Western Australian housing stimulus is an attempt to improve the living standards for the population as a recovery plan from the global pandemic.