Call for Projects on Round Two of Housing Affordability Fund

The Rudd Government will deliver more affordable houses for low and moderate income earners through Round Two of the Housing Affordability Fund, which opens today.

The Housing Affordability Fund is a $512 million initiative reducing planning and infrastructure costs of building new housing developments.

Thirty-seven projects shared in around $120 million under Round One, which will ultimately benefit tens of thousands of home buyers through savings on individual lots and faster planning and development approval times.

Savings generated by the Housing Affordability Fund are already being passed onto to new home buyers.

The Government wants to build on the success of Round One and provide more targeted new affordable housing in areas of high growth across Australia.

Each successful infrastructure project under Round Two must provide savings on at least 50 new homes, with preference given to housing for low and moderate income earners.

Round Two also gives priority to greenfield and infill projects with access to public transport, and public housing estate redevelopments which create mixed communities by building affordable homes for private ownership.

Applications can be submitted by State and Territory Governments, local governments and Local Government Associations, and they can partner with private companies and developers to deliver more new homes in a shorter period of time.

The Housing Affordability Fund helps provide affordable new homes for Australians by contributing to infrastructure costs such as water, sewerage and roads, and leveraging reforms at local government level.

Applications for Round Two close on 8 January 2010.

For further information on the Housing Affordability Fund and the application guidelines, please visit the FaHCSIA website.