❓ WA Housing Authority confirms plans to sell $2B in land/housing (2015-19), aiming for a net increase in social housing despite demolitions/sales. Around 3300 dwellings will be sold on the open market and through Keystart, plus vacant land for 12463 dwellings.
AnsweredQoN 4636Legislative Assembly
QuestionView source ↗
(1) Can the Minister confirm that the Housing Authority intends to sell around $2 billion worth of land and housing inventory in 2015/16 and over the forward estimates? (2) How many additional social housing dwellings will be delivered as a result of these sales and will this result in a net increase in the quantum of housing stock in the public housing system? (3) How many homes are estimated will be developed on these sites that will be sold on the open market and through Keystart? (4) How much of the Housing Authorities' total asset holdings will this land and housing inventory sell off constitute? (5) What is the estimated value of the Housing Authorities’ remaining land and housing inventory after this round of sales is complete?
AnswerView source ↗
Answered
24 November 2015
Responded by
Minister representing the Minister for Housing
Response time
34 days
The Housing Authority advises:
(1) Yes.
(2) Land and housing inventory sales contribute to the Authority's overall general revenue used to fund the Authority's operating activities, a portion of which may be allocated to the procurement of social housing. The Authority plans to deliver 1 222 dwellings for social housing from 2015-16 to 2018-19 from all funding sources, which includes property sales, specific grants and general revenue.
Public housing stock numbers fluctuate as the Authority regularly reviews its stock and disposes of public housing properties for a variety of reasons, including to reduce high presence concentrations, such as can occur when a property is no longer required or is at the end of its useful life, or when an eligible tenant applies to purchase the property. The social housing demolitions and sales for 2015-16 to 2018-19 are expected to be 1 112. There is expected to be a net increase in the quantum of public housing stock in the system.
(3) The Authority plans to deliver and sell approximately 3 300 dwellings from 2015-16 to 2018-19 as well as sell vacant land that will yield an estimated 12 463 dwellings. This is an estimate as the Authority does not track the yield achieved on land that it sells.
(4) Approximately 11% (includes land, housing and other assets).
(5) Around $15 billion.
(1) Yes.
(2) Land and housing inventory sales contribute to the Authority's overall general revenue used to fund the Authority's operating activities, a portion of which may be allocated to the procurement of social housing. The Authority plans to deliver 1 222 dwellings for social housing from 2015-16 to 2018-19 from all funding sources, which includes property sales, specific grants and general revenue.
Public housing stock numbers fluctuate as the Authority regularly reviews its stock and disposes of public housing properties for a variety of reasons, including to reduce high presence concentrations, such as can occur when a property is no longer required or is at the end of its useful life, or when an eligible tenant applies to purchase the property. The social housing demolitions and sales for 2015-16 to 2018-19 are expected to be 1 112. There is expected to be a net increase in the quantum of public housing stock in the system.
(3) The Authority plans to deliver and sell approximately 3 300 dwellings from 2015-16 to 2018-19 as well as sell vacant land that will yield an estimated 12 463 dwellings. This is an estimate as the Authority does not track the yield achieved on land that it sells.
(4) Approximately 11% (includes land, housing and other assets).
(5) Around $15 billion.
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