Through an investment of $345 million, the ACT Government will fund more housing options for Canberrans.
21 June 2023
Through an investment of $345 million, the ACT Government will fund more build-to-rent projects; deliver repairs, growth and renewal in public housing; and facilitate the expansion of the local community housing sector for low income and vulnerable Canberrans.
As part of the 2023-24 ACT Budget, the government has:
- created a $60 million Affordable Housing Fund – the first of its kind in the ACT – to significantly grow the number of long-term affordable rental homes;
- invested $233 million in public housing growth, repairs and renewal; and
- provided $11 million to support further land release, alongside continued planning reform to enable the private market to deliver as much new housing as possible.
These initiatives contribute to the government’s delivery of 600 additional affordable rentals and 400 additional public housing dwellings.
The 2023-24 ACT Budget also includes funding for a second large-scale Build-to-Rent project in Gungahlin, following the release of land in Turner for a pilot Build-to-Rent project. Importantly, both projects will include an affordable rental component.
For public housing tenants, $177.1 million will ensure their homes are safe, comfortable and meet the needs of people living in them, now and into the future.
A further $55.9 million for the Growing and Renewing Public Housing program will see 140 additional homes for Canberrans to build their lives in.
The ACT has one of the fastest-growing populations in Australia, which is expected to reach half a million people before the end of the decade.
These measures will ensure Canberra has the right mix of housing to meet the needs of our growing population, while contributing to a more affordable, sustainable and liveable city.
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