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Canberra Today 20°/24° | Friday, March 29, 2024 | Digital Edition | Crossword & Sudoku

Government’s plan for cheaper housing

THE Government has launched phase three of its Affordable Housing Action Plan, which aims to make housing more affordable in Canberra.

Almost 84 recommendations from phase one – which started in 2007 – and two – which started in 2009 – are already completed or under way, with a record 17,000 dwellings sites released over the last four years indicators are beginning to point towards supply catching up to market demand.

The phase three plan includes 14 actions such as focusing on key areas of increasing supply of rental accommodation, better utilising existing sites, relieving blockages to affordable purchase and releasing sites for short-term accommodation.

“This Plan furthers the Government’s work in this area and demonstrates the Government’s commitment to providing affordable housing to Canberrans – particularly those on lower incomes,” Minister for Economic Development Andrew Barr said.

More information, visit www.economicdevelopment.act.gov.au

[box] Phase three actions:

Increasing supply of rental accommodation

• Reduce land tax on properties with average unimproved land values between $75,000 and $390,000.

• Encourage institutional investment in affordable rental properties.

• Increase the supply of affordable rental properties through transfer of land or surplus properties to the community housing sector.

• Investigate a requirement for the delivery of public and community housing stock in large infill and greenfield residential developments.

Better utilising existing sites

• Provide grants to small clubs to assess the viability of their sites for residential development.

• Assess and consider options for facilitating residential development on underutilised community facility land.

• Offer a lease variation charge remission to facilitate redevelopment or adaptive reuse of

commercial accommodation that delivers affordable housing.

Relieving blockages to affordable purchase

• Introduce variable thresholds for affordable housing based on dwelling size.

• Commence abolition of stamp duty.

• Increase property and income thresholds for the Home Buyer Concession Scheme.

• Explore options for extending the OwnPlace scheme into englobo and joint venture

developments.

• Investigate higher targets for affordable housing requirements in englobo releases.

• Develop a Sustainable Land and Affordable Housing Guide.Short term accommodation

• Release land for short term accommodation. [/box]

 

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