High-end suburb sales to go on

15/04/2009 - 22:00

THE state government is progressing with its plan to relocate social housing stock from high-end Perth suburbs into lower-cost suburbs In October, Treasurer Troy Buswell announced a review into Homeswest housing in wealthier suburbs, ordering the Departme

High-end suburb sales to go on

THE state government is progressing with its plan to relocate social housing stock from high-end Perth suburbs into lower-cost suburbs

In October, Treasurer Troy Buswell announced a review into Homeswest housing in wealthier suburbs, ordering the Department of Housing to identify high-value properties that could be sold when vacated.

The funds raised from the sale of properties could then be re-invested into providing homes in less expensive suburbs.

The review is part of the government's efforts to reduce the waiting list for social housing and increase the number of homes available. No Homeswest tenants will be displaced of identified properties in the short term, with properties only considered for sale once tenants choose to give notice.

There are currently two properties listed with agents for sale, one in Cottesloe and another in Wembley.

The Cottesloe home was the first of more than an estimated 1,200 homes to go to auction under the program in November.

The two-bedroom home in Ackland Way was not sold at auction and is still on the market.

Proceeds from the sale of the property, which was expected to fetch offers around the $1.6 million mark, would have reportedly gone towards six new seniors units in Lancelin and two new homes in Dianella.

The initiative is ongoing and is progressing on a property-by-property basis, with high-value properties to be disposed of as tenants vacate. The process could take some time to execute, as most Homeswest tenancies have no end date and no tenants will be forced to relocate.

Mr Buswell said waiting times for social housing had reached an unacceptable level and that the government had to do everything possible to increase the number of homes available.

Trading expensive stock in high-value suburbs to provide a greater amount of accommodation in more sustainable, less expensive suburbs was one way the government could increase social housing stock, he said.

Mr Buswell said optimising public housing in this way did not need to be at the expense of social inclusion.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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