The ACT is looking at developing a series of $3.6 billion development projects across the country to help address housing affordability, the ACT Government has announced.
The Government announced a $3 billion capital budget for housing affordability in April, with funding of $1.4 billion for housing and infrastructure.
Key points:The ACT Government will announce a series the ACT will look at over the next two yearsThe ACT’s housing market has been plagued by rising prices, as well as rental demand, in recent years.
The state government has been aiming to address those issues through a series it has called the Housing Forward.
The Housing Forward will aim to create a housing market that is more affordable, flexible and adaptable, and provide more options for renters, particularly those on low incomes.
It will also look at ways to encourage people to stay in their homes longer.
The ACT has been working with developers to deliver housing for a generation and to build on the state’s past success in delivering affordable housing, said Mr Tudge.
“The ACT is the only state in Australia that has seen a housing affordability recovery that hasn’t been a direct result of the state government.”
But the ACT has a long way to go.
“A number of ACT government projects are also under consideration to be part of the Housing Future, including the proposed development of a $1 billion housing complex in the city of Townsville.
The Capital Budget announcement will include funding for the Housing Prospects Programme, a program which will support the development of affordable housing in the ACT.
It is also set to allocate $200 million over five years to help build out housing projects in the regional and regional regions.
The first phase of the Capital Budget is expected to be released in the next fortnight.
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