The Government is supporting the delivery of more homes for Canberrans where and how they want to live.
The Territory Budget will invest more than $145 million to kickstart a significant pipeline of homes for our growing city. This supply pipeline will be supported through a range of policy initiatives and industry incentives.
In partnership with the Australian Government, and our commitments under the national housing accord, the ACT Government has a clear plan to enable 30,000 new homes by 2030.
The Housing Supply and Land Release Program released today demonstrates how the Government will achieve this target, with government land release to support nearly 26,000 homes over the next five years, direct investment to build social and affordable housing, and thousands more homes expected to be delivered on leased land enabled by new planning reforms.
The investments through the Budget will make it easier for Canberrans to find the home they need, whether they're buying their first home, raising a family, ageing in place, or in need of supported housing.
This includes direct investment in new social and affordable homes, modernising the planning system to support medium-density supply, and targeted reforms to improve fairness and choice in the housing market.
At the same time, the Government will be increasing apprenticeship subsidies for training in six key construction trades to 90 per cent, building on our existing investment in electrotechnology apprenticeships.
This significant investment in training for the construction industry will shape the workforce Canberra needs to build more homes for a generation.
The Budget supports a wide range of practical initiatives to boost supply, increase affordability and deliver homes that suit different stages of life:
- Increasing eligibility for stamp duty concessions for all eligible purchasers' price threshold above $1 million.
- 85 new public housing dwellings delivered through Community Housing Providers under the Housing Australia Future Fund Facility (HAFFF).
- $20 million additional funding for the Affordable Housing Project Fund, increasing the total to $100 million.
- 300 affordable Build-to-Rent homes.
- 17 new social housing townhouses acquired in Coombs under the Social Housing Accelerator.
- Ongoing investment in the Growing and Renewing Public Housing Program to maintain and expand Canberra's public housing portfolio.
In addition to new home construction, the ACT Government is continuing the planning work needed to ensure Canberra grows in a smart, inclusive and sustainable way.
This includes:
- Planning for new housing and community facilities in well-located areas, particularly around town centres, local shops and public transport corridors.
- Funding to support the Construction Productivity Agenda for the ACT of the new Planning Act, aimed at streamlining approvals and increasing clarity for developers and the community.
To support our plans to enable 30,000 homes by 2030, the Budget supports the development of a future construction workforce, including:
- An increase in training subsidies to 90% for carpenters, plumbers, tilers, bricklaying and other critical construction trades.
- The Try-a-Trade program in ACT public high schools to support more young women to enter the construction industry.
- $250 cost-of-living payments to apprentices and trainees, including an extra $250 for first year apprentices, building on the $10,000 payments available under the Commonwealth's residential construction training incentive.
Chief Minister Andrew Barr said housing remains a central investment priority as Canberra grows.
"Canberrans need homes where they want to live that are affordable, sustainable and well-designed," the Chief Minister said.
"This Budget brings together land release, planning reform, housing delivery and tax reform to meet the needs of a changing city and enable 30,000 new homes by 2030."
Deputy Chief Minister Yvette Berry said the Budget delivers both practical results and a pathway to lasting change.
"We're investing in affordable homes now and laying the foundations for a more equitable, more liveable city," Minister Berry said.
"A stable home is essential for a good life, which is why we're partnering with the Commonwealth Government to get more homes built than ever before."
Treasurer Chris Steel said that the Budget demonstrates how the ACT Government is taking action on housing supply from all sides to support 30,000 new homes and making Canberra a more affordable place to live.
"Housing is a key priority for our Government in the Budget. These targets will be achieved through budget investment to build more social and affordable homes, undertaking the next stages of planning reform, further land release and investment in supporting infrastructure," Minister Steel said.
"We will continue to progress missing middle housing reforms, as well as supporting more well-located homes close to transport, services and jobs.
"The investment in construction skills, trades and productivity will make a real difference to getting more quality homes built more quickly, boosting our economy and helping to reduce inequality."
Finance Minister Rachel Stephen-Smith said reforms to stamp duty are part of the Government's broader approach to making housing more accessible.
"By expanding stamp duty concessions to more homebuyers, we're making it easier for Canberrans to enter the market and find a home that suits their needs."
Minister for Skills, Training and Industrial Relations Michael Pettersson said that the ACT Government was delivering on election commitments to strengthen Canberra's construction workforce.
"We promised to make training in the construction trades more accessible for Canberrans who want to develop the skills they need to get a good, secure job - and now we're delivering."
