The announcement of a new loan product from Keystart does little to address the housing crisis, says Liberal Shadow Housing Minister Steve Martin MLC.
The Urban Connect Home Loan will allow Western Australians singles earning up to $180,000 and couples earning up to $200,000 to access home loans intended for medium and high-density apartments.
The Scheme will be limited to just 300 places over 2 years.
“The Urban Connect Home Loan does not go far enough to address the pressures facing Western Australian families,” said Mr Martin.
“Rental vacancy rates in Perth are currently sitting at just 1 percent, rental and house prices are continuing to increase and almost 34,000 people are waiting for a placement in the public housing system.
“To offer just 300 placements over two years will have very little impact on the state of WA’s housing market.
“Since June last year the number of people waiting for a public housing property has increased by over 3,600 people. 300 homes won’t even scratch the surface,” said Mr Martin.
Concerns have also been raised around the Scheme’s high-income limits.
“Western Australians earning almost triple the median Western Australian wage will be eligible for government assistance,” said Mr Martin.
“This will not help those in our community who are struggling to keep a roof over their heads in the face of rising inflation.
“The Premier says he is focused on keeping cost of living pressures off WA families, yet this new scheme will be available to those who might not necessarily need government assistance.”
The median Western Australian wage is $65,000.
“The Premier continues to refuse to take meaningful action to help Western Australians who are struggling with increased costs in every aspect of their lives.
“This government has a surplus of nearly $6 billion. It’s time Mr McGowan takes some real steps
to help those in our community to get ahead.”