Housing affordability in Canberra
Housing affordability is an issue that lots of people around Australia are talking about.
In Canberra, the strategy of providing affordable housing is underpinned by the ACT Government’s Affordable Housing Action Plan.
The Plan aims to help Canberrans at all points on the accommodation spectrum, including home-buyers and people who would like to build their own home.
The Affordable Housing Action Plan has been, and will continue to be a key contributor in responding to housing demand, containing house prices and rent increases, and providing an economic boost to the Territory.
As a part of the Action Plan, the focus for the government includes:
- Accelerating the supply of land
- Ensuring that at least 20% of all new estates include affordable housing
- Implementing programs to support affordable house and land packages
- Rolling out the innovative land rent scheme to reduce upfront costs for purchasers
The Ginninderry project will help to ensure demand for housing can be met and provide a diverse range of affordable housing options that may not be available in existing suburbs in Canberra.
The project will contribute to the ACT Government’s Affordable Housing Action Plan target of 20% of dwellings in residential areas meeting a range of affordability criteria.
In line with the Plan, Ginninderry’s aim is to create quality places with a mix of home types supported by initiatives such as longer term rental and shared equity arrangements.
The project’s approach to housing affordability and diversity of choice will contribute hugely toward creating a diverse and socially sustainable community.
To find out more about housing diversity, check out our recent blog.