The Property Council of Australia welcomed the Commonwealth’s $2.1 billion funding commitment to improve the nation’s housing affordability.
“The Rudd Government has taken decisive action to address Australia’s housing affordability crisis,” according to Property Council Chief Executive Peter Verwer.
“Tonight’s budget provides essential funds to implement breakthrough Commonwealth strategies.”
The 2008/09 budget includes:
- $623 million for the Commonwealth’s National Rental Assistance
- $500 million for a Housing Affordability Fund, and
- $1.2 billion for the First Home Savers Accounts ($150 million more than originally planned).
“The Rudd Government has moved swiftly, firstly appointing a Minister for Housing and now delivering substantial funds to implement breakthrough strategies,” Mr Verwer said.
“The property industry looks forward to working with this Government and its state counterparts to make sure these strategies deliver more affordable housing to Australia.”
Peter Verwer, Chief Executive, 0407 463 842