The Rudd government yesterday released the technical paper on its $512 million Housing Affordability Fund, which will aim to lower the cost of building new homes through a focus on supply constraints.
In particular the Fund will address the holding costs incurred by developers as a result of long planning and approval times, as well as the costs of infrastructure like water, sewage and transport.
The Fund will be distributed by direct grants to local governments, local government associations and State and Territory governments through a selection process aligned to a needs-based selection criteria.
The government is inviting submissions on the policy from industry stakeholders.
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