28 September 2022
Help for home seekers
South Australia’s HomeSeeker SA program has been extended for home buyers on moderate incomes looking to purchase their own affordable home, and Member for Stuart Geoff Brock MP could not be more pleased. “HomeSeeker SA is a State government initiative designed to reduce housing stress,” Mr Brock said.
“It helps South Australians buy their own home or learn more about how to find an affordable property to rent.”
Mr Brock said that affordable and available housing had become a pressure point for South Australians, but particularly for regional residents, and he welcomed any measures which would help the acquisition of homes as well as initiatives to ease the rental market.
HomeSeeker connects eligible South Australians with exclusive affordable home listings, avoiding the need to compete with ‘cashed up’ property investors.
“The scheme has increased the exclusive listing period for eligible buyers from a minimum of 30 to 60days, which applies to newly listed homes on the website: www.homeseeker.sa.gov.au,” Mr Brock said.
The new 60 day listing period applies to private developers who are offering affordable housing through the HomeSeekerSA Affordable Housing policy, encouraging developers to include a 15 per cent affordable housing component in new projects.
There have also been changes to the eligibility criteria, particularly for those living in regional areas, where singles earning less than $75,000 a year and couples who earn less than $100/000 are eligible.
The affordable housing price point is reviewed annually so people on moderate incomes pay no more than 30 percent of their before-tax income on their mortgage.
“Together, HomeSeeker SA and HomeStart Finance are critical to ensuring South Australians on low to moderate household incomes, who might otherwise be unable to progress beyond renting, have an opportunity to purchase their own home/’ Mr Brock said.