Page 2084 - Week 06 - Tuesday, 21 June 2011
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video
There is also the sale-to-tenant program which allows public housing tenants the opportunity to purchase the home in which they live. This product is aimed principally at the market renter, as it requires them to purchase their property outright.
Another program is the shared equity scheme under which public housing tenants can purchase 70 per cent of the value of the property. The Commissioner for Social Housing retains ownership of the remaining 30 per cent, which can be paid off over a period of 15 years, although early payouts of the commissioner’s share are often preferred.
Mr Speaker, I am pleased to inform the Assembly that since the shared equity scheme commenced in May last year, 14 properties have been purchased by public housing tenants who have successfully made the transition into home ownership.
Another program is the bond loans scheme under which 90 per cent of the value of the bond required to rent privately is provided as an interest free loan. Since the inception of this scheme, 764 bond loans have been approved. The period for repaying the bond loan is two years, although most people will pay it back somewhat earlier.
Programs such as these, which are aimed at helping people on lower incomes access affordable housing, shall continue to be a priority for this government.
MR SPEAKER: Yes, Mr Hargreaves?
MR HARGREAVES: Minister, could you please tell me and the Assembly what impact the federal government’s stimulus package has had on the number of social housing properties in the ACT? I have a very deep interest in this.
MS BURCH: I acknowledge your deep interest in housing in the ACT, Mr Hargreaves. The total number of units constructed using the stimulus funding through the federal contribution is 421, which increases to 496 when combined with funding injected by the Community Services Directorate. These numbers are 70 per cent of the units that the federal government expected to see delivered when their funding was made available.
The first stage of the program delivered 57 properties and, under stage 2 to date, 298 properties have been completed, including those at Bonython, Conder, Curtin, Hackett, Harrison, Kambah and Macquarie. Work is still underway on properties at Chapman, Florey, Narrabundah and Rivett, and these will be finished shortly. I expect that the construction of all these works will be completed by October of this year.
I am encouraged by much of the early positive feedback by the tenants moving into their new homes. Just a few weeks ago I spoke to a tenant who had lived in her previous property for 60 years but she was delighted to accept the keys to her new home, which is one of the purpose-built, older persons units. As older public housing tenants move into their new homes, the family dwellings that they vacate will now become available to house those applicants who remain on the waiting list.
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video