The Property Council welcomes the ACT Government's recent push to finalise the CSIRO land deal to build much-needed homes in Canberra.
"Recent data shows our median house prices are currently second in the country. And with the fastest growing population in the country, demand for homes is only going to increase," says Property Council ACT & Capital Region Executive Director Shane Martin.
"We must address housing supply in the Capital to keep up with our growing population, and one piece of this puzzle is to release more land."
The Ginninderra CSIRO site has the potential to provide thousands of new homes, and to assist the Territory in reaching housing targets that are already at risk of falling short. The stark reality of the risk posed to housing targets was confirmed by ABS data from February, which showed building approval was down 22.8 per cent from the previous month more than any other jurisdiction in the country.
"The Property Council stands ready to work with the Government on how to fast-track residential development of this land to get shovels into the ground and the homes built," said Mr Martin.
"We urge the government to continue this momentum and allow more land release under englobo, to partner with the private industry for development and establish a taskforce with the Planning Directorate, SLA and industry to identify and monitor release of land."
"Through working with industry we can speed up land release and development to build the homes for Tomorrow's Canberra."
