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Gillard Labor Government makes new homes more affordable in North Canberra.

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Gillard Labor Government Makes New Homes More Affordable in North Canberra

Andrew Leigh,Tanya Plibersek posted Wednesday, 11 August 2010

Minister for Housing, Tanya Plibersek and Federal Labor Candidate for Fraser, Andrew Leigh today announced two projects that will make new homes more affordable for home buyers in North Canberra.

The two projects will cut the price of nearly 1,700 residential lots at Crace and Gungaderra West by up to $23,760 per lot.

The ACT Land Development Agency will receive a total of $9.76 million through Federal Labor’s Housing Affordability Fund for two projects:

· $7.6 million to build a collector road and bus route to provide public transport services at Crace. This project will cut the cost of 1,591 lots by an average $15,525 per lot.

· $2.16 million for roads and services at Gungaderra West, including pedestrian paving, drainage, gas reticulation, telecommunications and soft landscaping. This project will save the buyers of 100 lots an average $23,760 per lot.

Andrew Leigh said that the Housing Affordability Fund projects at Crace and Gungaderra West were welcome news for home buyers in North Canberra.

“I am delighted that the Gillard Labor Government is investing in two local infrastructure projects that will deliver savings to nearly 1,700 home buyers,” Andrew Leigh said.

“On top of these savings, the $7.6 million investment in Crace will allow new housing to be brought to market an average 14 months earlier than would otherwise be the case.

“This is a much needed boost to housing supply in North Canberra.

“By investing in these two innovative projects, the Gillard Labor Government is also demonstrating its commitment to supporting sustainable and liveable communities.”

Tanya Plibersek said that the projects at Crace and Gungaderra West were a terrific example of how the Housing Affordability Fund was delivering direct cost savings to home buyers.

“Federal Labor established the Housing Affordability Fund in 2008 to reduce planning and infrastructure costs in new housing developments,” Tanya Plibersek said.

“Through this program, we are investing more than $460 million in over 70 local projects around Australia.

"These projects will deliver average cost savings of over $18,000 to the buyers of more than 14,000 residential lots across Australia.”

Funding for these two projects is provided in the budget, through the Housing Affordability Fund.

Tags: Andrew, Canberra, Fraser, Housing, Leigh, Plibersek, Tanya