Ensure you never miss an issue of the
real estate business bulletin
$512 million Housing Affordability Fund to boost first home buyer market

$512 million Housing Affordability Fund to boost first home buyer market

by Reporter 0 comments

Prime Minister Kevin Rudd and housing minister Tanya Plibersek yesterday launched the Housing Affordability Fund, a $512 million initiative to help cut planning and infrastructure costs in new housing developments.

The government claims that tens of thousands of new home buyers will benefit from the fund, with savings coming from grants of up to $10,000 per home, reduced holding costs and contributions from other levels of government.

Mr Rudd said the grants, which are available for state, territory and local governments as well as private companies, would be targeted towards areas with high demand for new, entry-level housing.

“Applicants will have to be able to demonstrate that their cost savings are passed on to new home buyers,” he said.

The fund will also address upfront costs of developing that are passed on to home buyers, such as sewerage, roads and parks, and will allocate $30 million towards fast tracking a national electronic assessment system to improve the efficiency of the development paper trail.

Published: 16-09-08

Today's other stories

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
$512 million Housing Affordability Fund to boost first home buyer market
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?