Page 879 - Week 06 - Tuesday, 25 July 1989
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .
provide some relief against high interest rates, and I am sure Mrs Nolan is aware of them. In particular, Mr Speaker, the ACT Housing Trust can provide short- and long-term mortgage relief to eligible home owners. It also has a scheme to help low to middle income earners acquire home ownership. I am sure the review will look at some expansion of that.
People in difficulty with mortgage repayments, subject to an income limit, may obtain either an interest-free loan or a grant under the mortgage relief scheme. This is aimed at helping people experiencing short-term hardship and is basically a temporary measure. Should the situation deteriorate and a person be faced with loss of his or her home, assistance under the Commissioner for Housing loans scheme can be sought. Under this scheme a bank or building society loan may be totally refinanced, with repayments limited to 25 per cent of gross income. As with the mortgage relief scheme, an income limit applies to the loans scheme to ensure that assistance goes to those most in need. The Commissioner for Housing loans scheme also provides loans at 13.5 per cent to low and medium income earners to build or buy their homes.
All in this Assembly share with the community a desire for lower interest rates and look to the Federal Government to continue efforts on economic policy to bring about a reduction in interest rates at the earliest possible time. I am sure that the ACT community recognises that, with the current mortgage relief and refinancing assistance available and the high priority we have given to the housing policy review, the ACT Government is doing everything it can within budgetary limits to help home owners and those wanting to build or buy homes. The evidence is on the record.
You have just heard in the announcements made by the Chief Minister that the Government has taken several steps to improve both access to, and the quality of, public housing in the ACT. Let me pick out some of those matters that were contained in the Chief Minister's budget speech.
In 1989-90 the public housing stock of rental dwellings will be increased by 280, through a combination of construction and purchases. It will increase the stock of aged persons units, with an additional 56 units approved for commencement in that year. Major upgrades of five of the trust's older large flat complexes will be commenced, redevelopment of Ainslie Village will be continued, and a further 120 substandard rental dwellings will be upgraded. The Government is acting in the area of housing.
In addition, the Government has decided that Melba flats will be replaced over four years, commencing in 1989-90. Some $7.35m will be spent on this project in that year. Ninety-five replacement dwellings will be acquired as a first stage by the Housing Trust, in addition to the 280 projected increase already in the public housing stock.
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .