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$vuetify.icons.faPhone1300 650 620

Record spend on affordable housing in ACT Budget

Media release

Record spend on affordable housing in ACT Budget

Media release
Today’s Budget commitment to a record spend of $345 million on a multi-faceted affordable housing package as part of the broader 2023-24 Budget is an important step in addressing the current housing shortage in the ACT, said Simon Croft, HIA Acting Executive Director, ACT/Southern NSW.

“The package of measures primarily focuses on increasing the supply of social, community and rental housing to improve affordable housing options in the Territory.

“This is a commendable commitment by the ACT Government. It recognises the need for ongoing investment in housing supply and acknowledges the significant shortfall of all forms of housing, but particular housing to support those in our community under the greater housing stress.

“During the Budget briefing HIA highlighted that whilst this is an important initiative, the Government needs to ensure the program does not add more pressure on current labour and supply shortages the housing industry continues to face.

“The ACT Budget also needs to look at complementary policies to this Housing Package, that address the long term skill shortages in the industry. We must continue to bring more apprentices and skilled workers into the industry in the Territory.

The Budget also highlights that over the next five years the ACT Government will release a range of greenfield and infill residential development sites providing capacity for more than 16,000 dwellings.

“Whilst this is a good start, HIA will continue to advocate for increasing the supply of shovel ready, affordable land to keep pace with the current demand for new homes and our expected population growth over the next 2-3 years,” concluded Simon Croft.

For further information please contact:
Simon Croft, HIA Acting Executive Director ACT/Sthn NSW 0417 032 160

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