Rudd Government Announces Housing Affordability Fund |
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Written by Marc Pallisco
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Monday, 15 September 2008 |
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The Rudd Government today launched its five-year, $512 million housing affordability fund in Canberra.
The fund aims to bring down the cost of new developments by up to $20,000 by reducing infrastructure charges it imposes on developers, and speeding up planning approvals. He told reporters: "The challenge is to make it work, so
Mr Rudd said the average cost of buying a new home represented four times the average wage in 1996.
As at December 2008, this increased to seven and a half times the average.
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