Home Uncategorized More affordable house and land packages on way

More affordable house and land packages on way

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12 April 2007

MORE AFFORDABLE HOUSE AND LAND PACKAGES ON WAY

The ACT Government is to increase the availability of new house and land packages in the $200,000 – $300,000 price range, Chief Minister Jon Stanhope announced today, part of a suite of measures that will give more Canberrans an entrée into the housing market.

The initiative is part of the Government’s Affordable Housing Action Plan, which was released today.

The Chief Minister said the Government would ensure that blocks in the $60,000 to $120,000 price range – well below existing market prices – were available, to enable an exciting new range of affordable housing options to be made available to Canberra homebuyers.

“We believe demand for this type of housing will constitute around 15% of the market over the next few years,” Mr Stanhope said today. “With the decline in household size and the growth of one- and two-person households, we expect the demand for stand-alone two-bedroom housing will grow. It is already one of the forms of housing most often requested by Housing ACT clients and is also popular in other cities.

“The Government is committed to high-quality design and will commission architects to design a range of examples of the new housing form. We will construct new demonstration villages and estates so that Canberrans can see for themselves what is possible in the way of truly affordable housing before making the big decision to purchase.

Mr Stanhope said the cheaper blocks and house-and-land packages would not affect the value of the investments made by Canberrans who had already entered the market. The blocks in question were considerably smaller – in the range of 200 to 300 square metres – and the homes to be built on the new, affordable blocks would differ in design and size from regular suburban houses too.

The Chief Minister said the initiative would also give investors who wanted to enter the market the opportunity to provide genuine rental properties for little more than $200 a week.

“This will open a new range of choices for both owner occupiers and investors, targeting areas of unmet need in the market,” he said.

Statement Ends
Media Contact: Penelope Layland 6205 9777 0438 289 714 penelope.layland@act.gov.au
Paul Kindermann 6205 1690 0403 600 955 paul.kindermann@act.gov.au

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