ACT Labor delivers new homes and supports jobs

076/11

The ACT Labor Government has continued to increase the supply of land in Canberra with 5,048 new housing sites released last financial year, delivering new homes and supporting the jobs of 15,800 Canberrans in the construction industry.

Figures contained in the Land Development Authority’s (LDA) latest annual report shows the ACT Labor Government has exceeded land release targets for the fourth consecutive year.

The ACT Labor Government understands the need for Canberrans to have secure housing, whether it is through renting a home, or buying one and we are committed to increasing the opportunity for Canberrans to achieve this by increasing the supply of land for housing, particularly for low income earners.

Over the past three financial years, the ACT Labor Government has delivered over 13,000 sites for new homes.

Through a range of initiatives in the 2011-12 Budget, the ACT Labor Government continues to increase the supply of new housing, and over the next four years the ACT’s Land Release Program will deliver a further 18,500 new residential dwelling sites, of which 2,400 will be dedicated to affordable homes.

Land releases in 2010-11 totalled sites for 5,048 residential dwellings, compared with an original target of 5,000. Included are sites for single residential dwellings and multi-unit developments in ACT Government estates and joint ventures with developers. Also included are englobo releases – where developers are responsible for services and infrastructure.

Overall, almost 60 per cent of the total 2010-11 releases of residential land related to Gungahlin suburbs. Significant volumes of land were released in Bonner and on Flemington Road and through joint ventures at Forde and Crace. Releases from the new estate at Harrison Four also commenced during the year, with all sites in the estate released and sold.

Englobo releases occurred in Ngunnawal 2C – 475 dwellings, and Casey 4 – mixed use including up to 500 dwellings, with both sites selling.

Importantly, while these sites provide homes for Canberrans, the land supply strategy has also resulted in record levels of construction, and is a major contributor to the ACT economy, supporting the jobs of 15,800 Canberrans in the construction industry.