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SA to drive new housing with state budget

South Australian Treasurer Stephen Mullighan delivered the Malinauskas Government’s third State Budget to Parliament with one of the key aspirations being to drive new housing for first home buyers which will be positive for South Australia’s forest industries. Source: Timberbiz

“For South Australia’s forest industries, Treasurer Stephen Mullighan’s budget will drive new housing construction combined with a social housing drive that will support local manufacturers such as the forest industries and help support the over 21,000 South Australians that directly and indirectly work in the forest industries,” said Mr Nathan Paine, Chief Executive Officer of the South Australian Forest Products Association (SAFPA).

“The great news is the State Government is responding to the housing crisis through the abolishment of stamp duty for all first home buyers building or purchasing a newly built home, whilst also extending the first homeowner grant for another four years.

“This presents an opportunity for the collaboration of the forest and construction industries to ensure these new homes are built with the ultimate renewable material – timber.

“Not only will timber lower the costs of the build, but it is the only building product that can achieve a positive carbon outcome, with every cubic meter of finished softwood products sequestering a net 718kg of co2e and, so by building with timber you are not just getting a more sustainable house but supporting local jobs.

“In addition, the Government has provided $24.4 million over five years to support net zero agriculture through the development and delivery of innovation, on-farm solutions and support for the upskilling of the agricultural sector to reduce emissions.

“SAFPA is pleased with this commitment which is in line with our State Budget Submission request. We look forward to working with Government and PIRSA on the rollout of the important program.”