Housing Affordability Fund delivers for homebuyers in Campbelltown

Tanya Plibersek today announced that a local infrastructure proposal by the South Australian Government Department for Families and Communities which has been offered $250,000 to bring down the cost of new homes in Campbelltown.

Federal Housing Minister Tanya Plibersek today announced the Housing Affordability Fund (HAF) proposal to construct stormwater infrastructure in a Lochiel Park Affordable Housing Model Green Village project.

“I am pleased to announce the Lochiel Park Affordable Housing in a Model Green Village project is a winner in the first round of the Housing Affordability Fund,” Ms Plibersek said.

“The funding offered will assist the development of 25 residential dwellings, which are expected to be released by March 2011. The Housing Affordability Fund will reduce the cost of building each of these homes by $10,000.

“Combined with the savings from the environmental design features of these homes and an additional South Australian Government contribution, eligible low to moderate income earners will save up to $34,600 each on 20 of the new houses when they are sold through the South Australian Government’s Affordable Homes Program. Five houses will be set aside for affordable rental accommodation.

“This project is a great example of the benefits of designing energy efficient houses, and how environmental design features can also provide additional savings to home owners by reducing energy costs.”

The Housing Affordability Fund is a Rudd Government initiative investing $512 million over five years to reduce planning and infrastructure costs in new housing developments.

“This funding will reduce the cost of building new homes and is a great outcome for people in Sturt who will appreciate the added assistance from the Rudd Government in saving for their own home,” Ms Plibersek said.

“Nationally, the first round of the Housing Affordability Fund is expected to deliver cost savings up to 14,000 new homes, through the construction of a variety of infrastructure including water pipes, sewerage systems and community facilities.

“Many more will benefit via reforms to the planning and development approval processes in local government areas, secured as a condition of funding.”

“Housing and construction is a major employer in the Australian economy,” Ms Plibersek said.

“That’s why housing has featured so strongly in the Rudd Government’s Nation Building Economic Stimulus Plan – firstly through the First Home Owners Boost and then by building 20,000 new social housing dwellings.

“This investment in social housing will stimulate the building and construction industry and has been estimated by Treasury to support 15,000 jobs nationally over the next two years.”