LATEST NEWS

Land release program exceeds 12 month target

Released 14/07/2008

The ACT Government has exceeded its 3,200 land release target for 2007-08 by releasing 3,400 blocks of land through its various estates, joint ventures and englobo releases Chief Minister Jon Stanhope said today.

"I am pleased to announce the ACT Government has exceeded its residential land release target for 2007-08, by releasing 3,400 blocks of land," Mr Stanhope said. "Increasing the supply of land is one of 62 initiatives in the ACT Government's Affordable Housing Action Plan, which is helping more Canberrans access more affordable and appropriate housing."

Mr Stanhope said the release of the first 114 blocks in the Land Development Agency's new estate of Bonner on Saturday 28 June 2008 capped off a very successful year of land release for the ACT Government.

"Over the next five years the LDA will progressively release some 2,200 dwelling sites in Bonner, with 15 per cent to be released as affordable blocks and house and land packages as part of the ACT Government's Affordable Housing Action Plan," Mr Stanhope said.

"The ACT Government is now working towards meeting future land release targets with 4,200 blocks to be released in 2008-09 and more than 15,000 blocks to be released over the next five years."

Implementation of the 62 initiatives contained in the ACT Government's leading Affordable Housing Action Planis well advanced. Already the Labor Government has:

• increased land supply to 3,400 in the 2007-08 financial year;
• adopted a rolling five-year land release program;
• streamlined land release processes, and introduced englobo land releases;
• mandated the delivery of house and land packages priced between $200,000 and $300,000, and introduced the OwnPlace initiative;
• provided more generous concessions, to help first home buyers into the housing market;
• introduced the land rent scheme to assist more low-income families buy their own home;
• invited institutional investors to increase the supply of private rental accommodation;
• boosted community housing with an equity injection of $40 million and a loan facility of $50 million;
• ensured that better and more targeted use is made of public housing - 87 per cent of new public housing allocations are made to applicants in urgent need compared to 38 per cent nationally;
• implemented measures to improve the energy efficiency in the public housing;
• released two demonstration projects to showcase affordable land and housing packages; and
• funded design awards to encourage excellence in affordable housing design and construction.

Media Contact: