Recognising that supply, diversity and affordability is a critical issue across all elements of public and private housing, the government has launched a comprehensive housing package, A Better Housing Future, to undertake immediate and long-term action to address housing pressure and support around $965 million of additional construction activity.
Renewal SA, working closely with our development partners, government agencies and community housing providers, is in a unique position to redress housing affordability and significantly increase the availability of affordable homes for purchase and rent through its projects.
By helping more South Australians access affordable housing and rental properties, from detached dwellings, to townhouses, and apartments, we can deliver lasting change in the lives of many.
Affordable housing is housing for people on low-to moderate-incomes and includes both rental and home ownership. It is priced so that housing costs no more than 30% of the weekly household income.
The maximum sale price for affordable housing is $495,000 - $569,250 (dependent on features) in greater Adelaide and $381,000 - $438,150 in the rest of South Australia. The maximum land-only price is $222,750 in greater Adelaide and $171,450 in the rest of the state.
Affordable rentals are rentals offered at less than 75% of the market rate.
South Australia Housing Trust manages delivery of the 20% affordable housing policy on behalf of the South Australian Government.
This involves:
- facilitating partnerships between private industry and not-for-profit providers to deliver commercially successful developments that include affordable housing
- providing 'best practice' advice to industry on designing and marketing affordable housing
- providing support, information and education to assist local government to include affordable housing in their local area
- working with financial institutions to improve purchasing power for buyers.