REGIONAL HOME OWNERSHIP
1029. Hon ROBIN SCOTT to the minister representing the
Minister for Housing:
In 2015, banks raised the minimum
deposit to 30 per cent for homebuyers in regional Australia.
(1) Given that
the mining industry is now recovering, when can we expect regional homebuyers
to enjoy the same rate as metropolitan homebuyers?
(2) Will the
state government encourage the banks to lend a percentage of their loan dollars
to regional Australia's homebuyers?
(3) Can the state
government see the benefits to regional shires and local service industries if
home ownership is encouraged?
STEPHEN DAWSON replied:
I thank the honourable member for
some notice of the question.
The following information has been
provided to me by the Minister for Housing.
accordance with section 51 of the Australian Constitution, banking regulation
and financial corporations policy falls under the jurisdiction of the
commonwealth government. In respect of matters within the purview of the state
government, the Keystart program continues to support customers in regional Western
Australia. Keystart approved 396 loans across regional Western Australia in
2015–16; 313 in 2016–17; 392
in 2017–18; 390 in 2018–19; and 114 to date in 2019–20.
That is a total of 1 605 loans since 2015–16.
The McGowan government recognises
that secure and affordable housing provides an essential foundation for
individual and family stability, resilience and connection to community. The
government supports regional home ownership in a number of ways, including
through Keystart, which is able to offer low-deposit home loans to Western Australians,
including those in regional areas, with more than $4 billion in state
borrowings, approximately 25 per cent of which flows to regional home buyers.
The Country Housing Authority provides housing loans to Western Australian
farmers and rural businesses where finance options are limited. The home
ownership subsidy scheme encourages more employees to commit to regional
communities for the longer term. These homes are for skilled government
employees and ensures that a broad range of services are available to develop
regional communities. The North-West Aboriginal
Housing Fund and transitional housing initiatives use access to housing to
promote employment, education and general wellbeing outcomes.