Western Australia goes to the polls on Saturday and for the property industry the big question is what the parties can do to alleviate the issues bedevilling the sector.
While the state’s economy under current Premier Roger Cook is strong, overcrowding, the housing crisis and the cost of living have emerged as key election issues.
The Urban Developer has highlighted the key policies and promises made by each of the major parties of relevance to developers and the property industry.
Party leader: Roger Cook (incumbent WA Premier)
Premier Roger Cook has led a state with a strong economy and managed to keep it that way.
Among the promises Labor has made ahead of the election is $210 million for the Keystart Equity program, a shared equity scheme—the WA government takes on up to $250,000, or 35 per cent, of the equity in new apartments or townhouses.
It is aimed at making it easier for those on lower incomes to get into home ownership.
Singles earning up to $123,000 and couples or families earning $189,000 qualify for the scheme, which would gain 1000 apartments under the promised funding.
Also promised is $443 million for 1800 social and affordable homes and $19.5 million for more community housing.
Labor has also promised to raise exemption thresholds for stamp duty for first homebuyers at a cost of $130 million.
A build-to-rent fund would be established with $154.5 million to help get projects off the ground.
There would also be $145 million for key worker, community, and local, regional and subdivision housing projects.
In the lead-up to the election the Cook Government released land at Broome and introduced planning regulation changes that make projects with 5 per cent affordable housing eligible for fast-track approval.
It is hoped that this will help boost affordable housing being built and delivered by providing an incentive for more projects to include affordable components.
The regions have been promised more digital connectivity, and $600,000 has been earmarked for the TradeStart program over a three-year period in the South West and Great Southern regions.
WA led the nation in housing completions in January but still fell short of its National Housing Accord target.
Labor also wants to spend $58 million to create fee-free TAFE courses in construction so more people are paid while training.
There would be $11.5 million spent on a training scheme to prepare for a boom in the defence industry thanks to AUKUS and the Henderson defence precinct.
Also promised is $387 million for rebates for residential batteries.
Labor wants to spend $93.3 million to expand the emergency department at Royal Perth Hospital and $7 million for other works around the hospital.
They would also add $11.5 million to the $2.5 million already allocated for the Albany Airport upgrade and spend $107 million expanding the Swan River ferry network.
And under a previous promise, $745 million has been allocated to building 11 schools and upgrading others.
Continuing the state’s history of stadium building, Labor wants to spend $16 million on Warwick Stadium to make it the new home of the Perth Wildcats and Perth Lynx.
They also plan to spend $217.5 million on a motorsports precinct at Burswood.
Party leader: Libby Mettam
The Liberals have made it clear that they believe the cost of living and housing crisis are the biggest issues facing Western Australians.
A concession on first homebuyer stamp duty and a $20,000 rebate for downsizers to sell their house and move were the first policies promised.
There has also been $300-million promised for regional infrastructure to help 90,000 homes get under way and another $200 million promised for apartment development.
They have also narrowed in on the healthcare industry with commitments to new hospitals, expansions and services.
That includes an initial $80-million investment to rebuild Royal Perth Hospital and $33.5 million for a new eating disorders hub at Fiona Stanley Hospital.
There would also be $73.2 million for three urgent care clinics designed to take the pressure off the hospital emergency departments and prevent ambulance ramping.
A new $33-million hospital at Tom Price is also on the table.
The Liberals want to spend $112.5 million on the duplication of Shelley Bridge along Leach Highway to ease traffic congestion, and $20 million is put aside for women’s refuges and increasing support for those enduring domestic violence.
Party leader: Shane Love
The Nationals have proposed abolishing stamp duty and creating a $1 billion regional fund.
That money is expected to create 1000 homes in regional areas.
Another $1 billion is planned to be used to set up infrastructure in the regions for power, water, sewerage and telecommunication networks.
They also want to spend $10 million on expanding data collection and creating targeted housing for the homeless in regional WA.
The party is promising $40 million to provide 80 new independent living units in the City of Kalgoorlie.
Assistance would also be provided to homeowners who have been waiting for more than two years for their homes to be built.
The Nationals also want a new minister for Northern Western Australia to help drive investment and development in that region, as well as a $14-million Albany Airport upgrade.
As water access becomes a bigger issue, the Nationals want to spend $102 million on a desalination plant in the Goldfields.
The Greens do not choose a party leader
The Greens remain in lockstep with their counterparts across the country, focusing on housing with promises of freezes or caps on rent increases, taxing short-term accommodation, and building more public and affordable housing.
Part of the social and affordable housing would be delivered through targets for projects on government-owned land where 50 per cent of the housing must be affordable.
The short-term accommodation levy would be set at 7.5 per cent for investors who own a vacant property and a 90-day limit per year for use as short-term rentals would be imposed.
There would also be powers granted to allow buildings to ban or limit short-stay apartments.
The Greens want to set up a WA Housing Future Fund and tax vacant properties.
A First Nations Housing Organisation and building more First Nations housing is also part of the election platform after reports of overcrowding in communities due to a lack of affordable housing.
As well as a push for free public transport, which would cost the state $778 million, the Greens want to spend $1.9 billion for a light rail network, or $620 million on trackless trams.
