Page 4374 - Week 10 - Thursday, 22 September 2011
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and the ACT government has a coherent strategy in place to help all Canberrans into affordable housing. Our affordable housing action plan was announced in 2007 and included 63 initiatives to increase the supply of affordable homes for sale and rent in Canberra. Phase 2 of the action plan announced in 2009 included 21 initiatives focused on the issues of homelessness and affordable accommodation options for older Canberrans.
There are undoubtedly many factors in play in relation to housing affordability. Demand for housing is high, and this naturally drives prices. Housing energy and running costs over time must also be considered. Land too is clearly a factor, and that is primarily where the ACT government can make a difference.
When we released our affordable housing strategy, we recognised there would be no quick fixes. We knew that the issues were complex and that it would take an ongoing effort to ensure more Canberrans could access affordable housing. And over the past four years, a great deal has been achieved. Initiatives of particular note include accelerating land supply, which has seen the ACT government release 5,048 dwelling sites in the 2010-11 financial year. This compares with 4,279 sites in 2009-10, 4,339 sites in 2008-09, and 3,470 sites in 2007-08. We are working towards releasing 5½ thousand dwelling sites in the current financial year.
The government has also established affordable housing requirements. This initially delivered 15 per cent affordable housing in all new greenfield estates. The government has increased this to ensure 20 per cent of all housing in new greenfield estates is affordable. Additionally, the value of what is considered affordable is indexed annually. Currently, affordable homes must be delivered for $337,000 or less.
Of particular relevance to this MPI debate this afternoon is the government’s work in the area of community housing. We are working with Community Housing Canberra, or CHC, to supply 220 affordable homes for sale and 250 homes for affordable rent by 2013. These targets grow to 500 affordable homes for sale and 500 affordable properties for rent by 2018. To enable this to occur, the ACT government has provided a $70 million revolving finance facility to CHC Affordable Housing. And CHC is working hard to meet these targets, with more than 150 affordable rental properties to date and 135 affordable homes completed for sale.
OwnPlace is an ACT government initiative that commenced on 30 June 2008. It provides affordable house and land packages in Bonner and Franklin, at the current threshold of $337,000, targeting households with a household income of under $120,000. As at 1 August this year, 454 blocks had been taken up by the OwnPlace builders panel. Of these, 216 homes have been completed, 31 homes are under construction and a further 157 are due to commence construction over the next six months.
The ACT government’s unique land rent program has been applauded around the country. Since 1 July 2008, 1,343 land rent contracts have been entered into and 1,112 have been either exchanged or settled. We will continue to work on affordable housing.
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