WA government underwrites new apartment builds to combat ‘market failure’

Western Australia’s government announced a $250 million initiative on Tuesday to underwrite new apartment builds, addressing a housing market failure. The plan aims to fund up to 1,200 apartments by guaranteeing the purchase of up to 50 percent of off-the-plan units, with Premier Roger Cook calling it an 'elegant' solution to housing pressures in the state.

Summary by Glance · SMH