Greens seek to cap capital gains on real estate

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ACT GREENS planning spokesperson Caroline Le Couteur has announced a landmark plan to put people, not developers, at the centre of housing.

“This plan is about putting the community first and making sure housing is affordable for people, not just profitable for developers,” Caroline said.

“The Greens want to see new models of affordable housing that allow people to be involved in the shaping of their community and their developments. That’s why we want new models that disrupt the status quo – starting by bringing the Nightingale Housing Model to Canberra.

“We all know that quality, well-designed housing is critical to our wellbeing. Canberrans deserve well-built and well-sized homes designed for real life, but the market is not delivering.

“The Nightingale model taps into different sources of finance so that the developers margin doesn’t have to be as high. Buyers also agree to sell for only the cost price plus CPI, which keeps affordable housing affordable over the long-term, not just the first buyer.

“As long as the current formula remains profitable for developers, they will never put the community first.

“The Greens’ commitment to initiate the Nightingale model changes that. It has a smaller profit margin for developers, ensuring that people can afford to live near their jobs, transport connections and family.

“This is exactly what Canberra needs – housing projects that are fairly and transparently priced, designed for people, community and the environment.

“It’s time to make sure housing delivers for people, not developers,” said Ms Le Couteur.

[Photo by woodleywonderworks, attribution licence]

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