Minister Barr: National Cabinet Statement: ACT’s housing supply response
- Written by ACT Government
Released 16/08/2023
The ACT is well placed to implement the National Cabinet agreed reforms to increase housing supply and improve housing choice, access and affordability.
The Commonwealth Government have put additional funding on the table through the Housing Support Program, New Home Bonus and Social Housing Accelerator. The Senate should further boost this financial capacity by passing the Housing Australia Future Fund.
In return, First Ministers have committed to principles for planning and zoning changes that are a crucial component of increasing housing supply and housing choice.
New Home Bonus and Housing Support Program
The ACT welcomes the $3.5 billion investment from the Commonwealth Government today across the New Home Bonus and Housing Support Program to support the delivery of the new 1.2 million dwelling target.
We were already planning to deliver our per capita share of the 1 million homes target and will continue to pursue this necessary objective as one of the fastest growing jurisdictions in the country.
Once applications are open for the Housing Support Program we will be ready to submit a range of project proposals to further accelerate the delivery of more new homes.
Planning Reform Blueprint
The ACT Government committed to the National Planning Reform Blueprint at National Cabinet. We will implement residential zoning changes as part of the Planning System Review and Reform Project.
These changes will provide more medium density housing choices in existing Canberra suburbs through a long-term program of gentle urbanism. New housing will be built close to transport, to public services, to economic opportunities.
We have undertaken an extensive consultation process for almost a year and the final Territory Plan and District Strategies will reflect that feedback and our vision for Canberra.
The objective is simple: more housing for Canberrans, where they want to live.
The Government will be releasing the new planning documents with these proposed zoning changes shortly.
A Better Deal for Renters
The ACT leads the way across the nation in tenancy rights.
No-fault eviction protections, minimum standards for rental properties, and preventing excessive rent increases are established protections in the ACT.
Increased supply combined with appropriate prescribed rent caps and no cause eviction protections – as currently formulated in the ACT – strike the balance of ensuring property maintenance, encouraging further investment and avoiding excessive rent increases.
We are committed to implementing the full tenancy protections outlined in the Better Deal for Renters agreed today. The Government’s Rent Relief Fund will be expanded further with further announcements to follow.
Increasing housing choice, access and affordability
We are already increasing housing supply across the board with a range of new initiatives designed to increase choice, access and affordability.
In the 2023-24 Budget we announced a $345 million package of housing measures including a $60 million Affordable Housing Project Fund to grow the number of affordable rental options available at less than market rent.
We are continuing nation-leading tax reform – reducing stamp duty in every Budget since 2012.
During Stage 3 of tax reform we have split the duty payable to identify investors from owner-occupiers, prioritising duty reductions for owner-occupiers to support more people buying a home for them to live in. This is in addition to the Home Buyer Concession Scheme and eligible off-the-plan purchases which can fully exempt stamp duty.
This complements our land release program which identifies a range of greenfield and infill sites with capacity for more than 16,000 new dwellings. The planning and zoning changes above are critical to achieving these urban infill objectives. We have also invested an additional $236 million for Housing ACT to more and improved public housing.
We are also continuing the Affordable Community Housing Land Tax Exemption as well as the Lease Variation Charge discounts available for affordable rental projects in the ACT.
Together, this all contributes to the Government’s objective of a more affordable, sustainable, liveable, diverse, interesting, productive and economically-efficient city.
- Statement ends -
Andrew Barr, MLA | Media Releases
