Abolishing stamp duty for first home buyers purchasing new homes and fast-tracking land releases are just some of the measures to improve housing outcomes for South Australians.

The initiatives are part of a $474.7 million housing package, aimed at helping more people become homeowners while boosting supply of new properties in the housing market.

Measures aimed at helping more people become a homeowner for the first time include:

• Abolishment of stamp duty for eligible first home buyers purchasing a new home valued up to $650 000, with relief progressively phased out for properties valued up to $700,000. For the purchase of vacant land on which a new home will be built, stamp duty will be abolished on land valued up to $400 000, with relief phasing out for land valued up to $450,000. This is estimated to assist around 3800 first home buyers each year.
• Increasing the First Home Owner Grant property value cap from $575,000 to $650,000 for eligible contracts entered into from 15 June 2023.
• A  fast-tracked approval process for eligible first home builders to help expedite the planning approval process.
• Increased access to HomeStart's interest free starter loan by raising its annual income cap from $65,000 to $75,000 for singles, and from $90,000 to $100,000 for couples.
• Introduction of a new HomeStart loan which will enable eligible first homebuyers building their new home to take a loan with as little as two per cent deposit.

By abolishing stamp duty for new builds only, and not increasing demand for existing homes, the State Government is encouraging the supply of new housing with the intention of also taking the pressure off the state's tight rental market. Measures aimed at helping renters include more affordable bonds and a ban on rent bidding.

Also included in the 2023-24 State Budget are land releases across Adelaide's northern and southern suburbs, that will create 25,000 new blocks.

More than 1200 additional social and affordable homes will be delivered, as part of South Australia's share of the National Housing Accord. Key sites for the new properties include Park Court on Greenhill Rd, Newton Boulevard in Playford Alive, Second and Third streets in Bowden, and Churchill and Regency roads in Prospect.

More support for regional housing will be provided, with the establishment of an Office for Regional Housing, and creating a Regional Key Worker Scheme, building more housing to attract and retain health workers, teachers, police officers, and other regional workers.

To boost housing in the CBD, a site at 111-129 Franklin St will be developed to deliver 392 apartments, including at least 137 social and affordable housing units.

The Aspire Homelessness Program will receive $1.7 million over four years to extend the program by 12 months to 31 December 2024, providing access for an additional 88 people who have experienced recurrent homelessness or are at risk of returning to homelessness.

First homeowners Abigail and Blake bought their first home in Dover Gardens recently, thanks to the State' Government's HomeSeeker SA scheme which helps South Australians on low to moderate incomes become homeowners.

A new public education campaign, which started on 15 June 2023, is helping to create awareness among first home buyers, renters, and the broader community about the new measures and their purpose.

More information is available at www.betterhousing.sa.gov.au.