Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

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

16 September 2008 Reporter

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


$512 million Housing Affordability Fund to boost first home buyer market
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.