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“This investment includes concessional loans and grants to support more homes for first home buyers delivered faster, which is timely given home ownership rates for those under 40 are at decade lows.
“The $250 million joint commitment is primarily focussed on key ‘last mile’ enabling infrastructure including roads, sewerage, water and power to fast track new dwellings delivery across a range of projects in the Territory.
“This investment is critical to build more homes faster, as builders often tell us that getting this key ‘last mile’ infrastructure is what holds many projects back from being delivered in a more-timely fashion.
“The $250 million commitment includes:
“HIA has been advocating extensively for a boost in enabling infrastructure funding as part of this year’s Federal and ACT Budget to support state and local governments to unlock more new homes faster, so it pleasing to see this new commitment announced today.
“This investment will be particularly important to boost new greendfield housing options for first home buyers in the Territory, as these are quickly becoming the “missing middle” in the ACT with apartments dominating the Canberra skyline and the only real option for perspective home owners presently.
“This joint Federal and ACT commitment will enable more new greenfield housing projects to be shovel ready faster and in turn boost housing supply across the Territory and get the nation one step closer to 1.2 million new homes target,” concluded Ms Martin.
“Investors are responsible for building 43 per cent of new homes in Australia over the past year, according to ABS data released today,” stated HIA Chief Economist, Tim Reardon.
The State Government today released a discussion paper setting out its long-anticipated recommendations arising from the review of WA’s home building laws.
The Housing Industry Association (HIA) has raised concerns regarding several reform recommendations outlined in today’s Home Building Laws review discussion paper, which has been released for public consultation.
Positive supply reforms offset by housing taxation changes.