More than 1,100 properties sold through WA's affordability initiative

The Western Australian government have sold 1,112 properties through the Opening Doors initiative over the past two years, having launched in September 2011.

As part of the government's Affordable Housing Strategy, Opening Doors delivers properties substantially below the median house price under a shared ownership scheme.

The median price of properties under this project is $293,000, which is around $200,000 below the current median of Perth.

Housing Minister, Bill Marmion, said that the government retained up to 30% equity in the property through the Department of Housing's shared ownership scheme, or sold with the purchaser acquiring 100%, depending on the situation.

Currently, 79% were sold through shared equity, however those looking for 100% ownership are increasing in numbers.

"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,” said Marmion.

"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," he said.

Properties ranged from one-bedroom units to four-bedroom houses and are located in suburbs throughout the Perth metropolitan area. Some regional towns are also home to these properties.

Marmion noted that the majority have been in the suburbs of West Perth, Mirrabooka, Fremantle, Cockburn Central, Butler, Brighton, Banksia Grove, Ellenbrook, Avely, Girrawheen, Brookdale, Bertram, Wellard and Baldivis.

Under the Affordable Housing Strategy in total, 10,000 homes have been delivered. The aim is for 20,000 by 2020.