Media Release by The Hon Tanya Pibersek MP

Rudd Government program saves Sunshine Coast home buyers $26,000

Tanya Plibersek today announced that 450 home buyers on the Sunshine Coast would save $26,000 each as a direct result of a new $11.5 million Housing Affordability Fund project.

$4.5 million will be used by Sunshine Coast Regional Council to construct a trunk gravity sewer main, with the remaining $7 million to fund a ‘green link’ transit, bicycle and pedestrian corridor.

During a visit to Palmview today with representatives from Sunshine Coast Regional Council and Investa Property Group, Ms Plibersek said that improving housing affordability was a major priority for the Rudd Government.

“The Housing Affordability Fund is reducing costs incurred by homebuyers as a result of planning delays and infrastructure costs, such as water, sewerage, transport and open space.

“The $11.5 million being provided to Sunshine Coast Regional Council will reduce the price of 450 new homes at Palmview by around $26,000 each.

“This is a great outcome for new home buyers in this rapidly growing region of south east Queensland,” Ms Plibersek said.

The HIA-RP Data Residential Land Report, released yesterday by the Housing Industry Association, found the Sunshine Coast to be Australia’s most expensive land market outside the capital cities.

Sunshine Coast Regional Councillor Anna Grosskreutz said that Council had worked hard to ensure both housing diversity and affordability were given priority in new greenfield developments on the Sunshine Coast.

“This excellent partnership between the Australian Government, Investa Property Group and Sunshine Coast Regional Council proves good quality, affordable living is not out of reach of homebuyers on the Sunshine Coast,” Councillor Grosskreutz said.

Ms Plibersek said that the Palmview project was one of eight new Housing Affordability Fund projects announced by Prime Minister Kevin Rudd last month.

“In total the Government’s $50 million investment in new projects will save home buyers an average of $20,000 for 3,214 new homes across the nation.

“It will also help to bring more than 7,000 lots forward between six and 14 months faster than would otherwise have been the case,” Ms Plibersek said.

The Palmview Declared Master Planned Area is a greenfield development with a focus on the early delivery of public transport, environmentally sustainability, housing affordability and a diverse range of housing types to support liveable communities.

In total the Rudd Government is investing $512 million in the Housing Affordability Fund to reduce planning and infrastructure costs in new housing developments.