More than bricks and mortar, a home is the foundation for a good life for ourselves, our families and our communities.
Every Canberran deserves that.
That’s why the 2023/24 Budget builds on ACT Labor’s long-standing ambition for everyone to have a comfortable and secure place to call home.
This year's Budget provides record investment for housing choice, access and affordability.
Housing affordability is a challenge right across Australia. This issue is complex and a multifaceted response is needed. The Labor-led ACT Government has an ambitious housing agenda to tackle this challenge. This agenda will be complemented by the Commonwealth’s Social Housing Accelerator package, and hopefully, the Housing Australia Future Fund.
With a record $345 million housing package, the ACT Government is funding more build-to-rent projects; speeding up repairs, renewal and growth of public housing; and facilitating the expansion of the local community housing sector.
We’re taking strong action to increase housing supply and encouraging growth in the affordable and community housing sector to ensure every Canberran, especially low income and vulnerable Canberrans, have a secure and comfortable place to call home.
Labor Governments have always invested in homebuilding and affordable housing, and we always will.
For more details on what our Budget delivers, check out the initiatives below:
- Affordable Housing Project Fund: The ACT Government has established a $60 million Affordable Housing Project Fund to grow the number of affordable rental homes. This fund will encourage community housing providers and build-to-rent operators with shovel ready projects to come forward for financial support. Growing the capacity of community housing providers in Canberra is an essential step in facilitating increased supply of affordable rentals.
- Investing in Repairs and Maintenance: This year’s Budget invests a record $177.1 million in Housing ACT operations, repairs and maintenance.
- Renewal and growth of public housing in the ACT – Year five of the Growth and Renewal Program: The Government is continuing to prioritise providing social housing as part of the Growing and Renewing Public Housing program. The Government is putting an extra $55 million funding to ensure the program achieves its target of 400 additional public housing dwellings. This initiative builds on over $200 million that has previously been committed to the program that will deliver 1,400 new and renewed properties that better meet the needs of public housing tenants.
- Large scale build-to-rent: The Government is planning for the release of a second site for another large-scale Build-to-Rent project in the Gungahlin area. Like the existing build-to-rent development in Turner, the Gungahlin project will be required to provide at least 15 per cent of the dwellings in its development for affordable rent.