Saturday, 26 October 2013.   Opening Doors property’s median price $200,000 less than Perth median.  Home ownership the preferred destination - not public housing

More than 1,000 families, singles and seniors have realised the dream of owning their own home since the State Government’s Opening Doors initiative was launched in September 2011.


The Opening Doors initiative is an important part of the Government’s Affordable Housing Strategy.


Housing Minister Bill Marmion said the median price of Opening Doors properties was $293,000 - around $200,000 less than Perth’s median house price.


Mr Marmion said the homes were either sold under the Department of Housing’s shared ownership scheme, where the Government retained up to 30 per cent equity in the property, or sold with the purchaser acquiring 100 per cent of the property.


“Most people who purchase a home under the shared home ownership scheme pay less in monthly mortgage repayments than they would pay in rent for a similar home in the same suburb,” he said.


“As of October 1, 2013, 1,112 properties have been sold through this initiative. The success in reaching this milestone in less than two years is a strong signal that the State Government is delivering quality housing at an affordable price.


“We want to make home ownership, rather than public housing, the destination for all West Australians.”


Homes sold through the Opening Doors initiative range from one-bedroom units to four-bedroom houses in suburbs throughout the Perth metropolitan area and some regional towns.


Most properties sold have been in the suburbs of West Perth, Mirrabooka, Fremantle, Cockburn Central, Butler, Brighton, Banksia Grove, Ellenbrook, Avely, Girrawheen, Brookdale, Bertram, Wellard and Baldivis.


“The Affordable Housing Strategy has already delivered 10,000 homes and is on track to deliver 20,000 new affordable housing opportunities by 2020,” the Minister said.


Fact File

79% of Opening Doors homes have been sold through shared equity
Sales of 100% full value properties are increasing and account for 43% of sales this financial year
For more details on the Opening Doors initiative go to: http://www.openingdoorswa.com.au