A re-elected ACT Labor Government has committed to implementing a practical plan to provide 30,000 additional homes for Canberra’s expanding population.
“We know that Canberrans want more homes to buy and rent across the city and Labor’s plan will deliver the housing future generations will need, while putting in place necessary environmental protections on sensitive land,” Chief Minister Andrew Barr said.
“Next term, ACT Labor will progressively begin to deliver early on our long-term commitment to fully abolish stamp duty.”
Chief Minister Barr said they will prioritise removing stamp duty for first home buyers, pensioners looking to downsize and those buying an off the plan unit or vacant land.
The Property Council of Australia welcomed ACT Labor’s commitment to deliver up to 30,000 more homes for Canberra by 2030, calling it a shot in the arm for the housing crisis.
Property Council Acting Executive Director ACT Katie Stevenson said with a population explosion expected over the next 25 years, now is the time for bold action to increase housing supply.
“The Property Council ACT Division has been working hard behind the scenes with all parties on our Election Platform and it’s great to see much of today’s announcement lines up with our priorities.
“The ACT has the fastest growing population in the country, with government data anticipating an almost 60 per cent increase by 2060 to 784,000, and the median cost of housing already double 2011 prices.
“We welcome the focus on the ‘missing middle’, a commitment to planning system improvements to drive more choice and speed of delivery, and acknowledgement of the value of investment in Local Centres and mixed-use development.
“While these measures will provide a shot in the arm, we need to continue with bold reform to deliver the right supply and mix of housing, to give everyone access to quality and affordable homes to suit their stage of life for years to come,” she said.
Ms Stevenson said additional zoning reforms – including upgrading of RZ1 and RZ2 blocks – along with system improvements including block amalgamation could create capacity for thousands more new homes.
“A review of residential zoning rules to allow uplift in existing areas close to public transport and other local amenities could help lower the pressure on greenfield development and deliver more diverse housing options sooner.
“Today’s announcement is a great start, and we’ll continue to work with all parties ahead of the October election to put the property sector at the heart of housing solutions.
“Along with more supply, we need to see development applications processed more quickly, with clear accountability to statutory timeframes, and a fast-track for strategic residential projects.
“We also need more support for build-to-rent including measures to encourage investment, and reforms to drive more social and affordable, retirement and student housing,” she said.