The Property Council of Australia and the Residential Development Council believe the Building Better Regional Cities funding announced today paves the way for improved infrastructure needed to support a ‘Sustainable Australia’.
The funding, announced by Prime Minister Julia Gillard, will invest $200 million to help build up to 15,000 more affordable homes in regional cities over three years and will relieve pressure on our major capital cities, so that Australia can grow sustainably.
Caryn Kakas, Executive Director of the Residential Development Council, strongly supports the announcement, which is modelled on the successful Housing Affordability Fund (HAF) which ties funding dollars to performance outcomes.
The HAF funding has demonstrated that the provision of forward-linking infrastructure has the ability to remove costs that would otherwise keep the development from occurring. These projects have the added advantage of also bringing much-needed housing supply to the marketplace.
“Housing affordability is not an issue that is restricted to capital cities. There is no doubt that regional areas have been unable to develop to their potential due to the lack of affordable housing, delivery of linking infrastructure and employment opportunities,” Ms Kakas said.
Peter Verwer, chief executive of the Property Council of Australia, indicated that it was imperative that cities be the focus of the election and welcomed the first major policy announcement which was has been directed to delivering infrastructure to cities.
“We need long-term strategic planning that secures the strong economic growth that will fund sustainable communities that are greener, more vibrant and liveable,” Mr Verwer said.
He called on both parties to provide comprehensive cities policies that join up metropolitan and regional programs during campaign.
“That means moving to better urban planning frameworks, and introducing a national urban planning policy that allows our cities to successfully deliver housing and key infrastructure for our growing population.”
“All parties should be focused on stemming the tide of inefficiencies overtaking our cities, through increased investment in long-term planning and renewed commitment to the delivery of infrastructure.”