Rudd Government Announces Housing Affordability Fund
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.
