Media Release by The Hon Tanya Pibersek MP

350 New Affordable Homes in Henley Brook

Minister for Housing, Tanya Plibersek, today visited the Henley Brook housing development in Perth’s Swan Valley, where around 350 homes will be made cheaper and come to market quicker through round two of the Rudd Government’s Housing Affordability Fund.

Prime Minister Kevin Rudd announced yesterday that the Western Australian Housing Authority would receive $7 million to cover the upfront costs of sewerage, water, gas, electricity and road connections in Henley Brook.

This will take around $19,625 off the cost of around 350 new homes in Henley Brook and bring forward the development by six months.

The Rudd Government believes that infrastructure costs are at present keeping too many homebuyers out of the home market.

The Housing Affordability Fund reduces costs incurred as a result of planning and approval delays and infrastructure costs, such as water, sewerage, transport, and open space.

“We know that housing supply is a critical issue in Australia. The Housing Affordability Fund is designed to help unlock housing supply and improve housing affordability,” Ms Plibersek said.

“This funding will reduce the cost of building new homes and is a great outcome for people in Henley Brook.

“The Rudd Government announced eight housing development projects across Australia will share in $50 million under Round Two of the Housing Affordability Fund.

“The $50 million investment will save home buyers an average of $20,000 for 3,214 new homes and housing lots, and will bring more than 7,000 lots forward between six and 14 months faster than would otherwise have been the case.”

Additional Round Two recipients will be announced shortly.

Thirty-seven projects have shared in around $120 million under round one of the Housing Affordability Fund and the savings generated are already being passed onto to homebuyers.

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.