Canberra is the next jurisdiction to get a major boost in federal infrastructure funding, as the government looks to make good on a key election promise.
The ACT is next in line for infrastructure funding from the federal government. Image: Getty
Prime Minister Anthony Albanese and ACT Chief Minister Andrew Barr have come to an agreement on the funding of infrastructure for 4,900 new homes, with $250 million of the cost to be borne by the federal government.
With 1,700 of those homes to be reserved for first-home buyers, the funding falls under the Prime Minister’s 2025 election commitment to spend $10 billion building 100,000 new homes for first-time purchasers. Where those homes will be built comes down to individual funding agreements for each state and territory.
South Australia became the first state to ink a deal for funding in February, receiving $801.5 million to unlock 17,000 new homes, of which 7,000 will be for first-home buyers.
In Canberra, the government’s $250 million cash injection will be spent across the territory on a number of different infrastructure projects, enabling hundreds of homes in some instances and just a handful in others.
The projects include:
• $37.5 million to enable the construction of 75 homes through infrastructure works in the Kingston Arts Precinct.
• $12.5 million to unlock land for residential development in Weston Creek, expected to enable the construction of 150 homes.
• $100 million for estate works across the ACT supporting 537 homes by 2034.
• $20 million for enabling infrastructure works relocating high-voltage powerlines in Kingston, supporting 210 homes.
• $20 million to support water management infrastructure in the Deep Creek project in Molonglo Valley, supporting 65 homes.
• $30 million to support landfill capping in the Ginninderry Regeneration precinct on the west edge of Belconnen, enabling 86 homes.
• $25 million for the relocation of overhead power lines supporting 85 homes and expanding the existing housing development in the Ginninderry joint venture project.
• $5 million to support infrastructure investment expanding housing development in the Ginninderry joint venture project supporting 35 homes.
The ACT has a plan to build 30,000 homes by 2030, and recently released land expected to accommodate many of those new homes. Image: Getty
Federal housing minister Clare O’Neil said the funding for Canberra showed that the government was “determined to make it easier for young people and first home buyers to achieve the dream of owning a home”.
“Thanks to this agreement we’ve reached with Andrew Barr and his government, there will be thousands more Territorians getting the keys to their very own home,” Ms O'Neil said.
Mr Barr said that the federal funding would help the ACT “reach a new level” in its efforts to increase housing in the territory.
“For Canberra first homebuyers, this means the dream of owning your own home will become easier,” he said.
The ACT is currently working towards a target of delivering 30,000 new homes by 2030.
Last year, the ACT government released land that could support 26,000 new homes built in five years.
Are you interested in learning more about new home building across Australia? Check out our dedicated New Homes section.
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