Property has always been one of the main points of economic growth across Australia. As owners of Belconnen real estate can attest, moving into the market and buying your first home is an exhilarating experience – a rite of passage for most Australians at some point in their lives.
The latest announcement from the Australian Capital Territory government has put the full weight of the state behind helping the region's housing market grow. Housing Minister Shane Rattenbury said the need for affordable housing was growing across the region, announcing a number of new avenues of support across the state.
This includes the accelerated renewal and redevelopment of aged public housing, increasing the amount of social housing projects as government priorities and beginning a focus on developing and expanding existing suburbs.
"Today's commitment to an accelerated renewal schedule for redeveloping old and out of date properties will bring many positive benefits to Canberra,"said Mr Rattenbury in a July 2 statement.
"This will lead to increased development and construction activity across the territory which will help provide the most appropriate types of housing for those in need and stimulate the economy."