Savings for more than 2,500 homebuyers in Blair
Tanya Plibersek and Member for Blair Shayne Neumann today announced a proposal by the Ipswich City Council has been offered $10 million to bring down the cost of new homes in Ipswich.
Ms Plibersek said the funding was offered under the Housing Affordability Fund (HAF), an Australian Government program investing $512 million over five years to reduce planning and infrastructure costs in new housing developments.
“I am pleased to announce the Ipswich City Council project is a winner in the first round of the Housing Affordability Fund,” Ms Plibersek said.
“The funding offered for this project will be used to construct sewerage infrastructure to facilitate the development of 2,505 residential lots. These lots are expected to start being released by July 2010.
“The $10 million will reduce the cost of building new homes and is a great outcome for people in Blair who will appreciate the added assistance from the Rudd Government in saving for their own home.”
Mr Neumann said over two and a half thousand homebuyers are set to benefit – not just first homebuyers.
“Each homebuyer will save $10,000 on the cost of the residential lots,” Mr Neumann said.
“Families renting houses in Blair who have owned a house in the past and struggled to get back into the market are able to purchase one of over 2,500 subsidised lots being developed for release with money from the Rudd Government.”
Nationally, the first round of the Housing Affordability Fund is expected to deliver cost savings to 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.