The ACT government has announced a $111.4 million plan to increase the supply of housing in the ACT.
The announcement in the territory’s 2011-12 Budget will see 18,500 new dwelling sites released over the next four years of which 2,400 will be dedicated to affordable homes.
"Molonglo will be the government's main front for greenfield land development over the next 12 months along with sites to be released in Campbell, Kingston, Phillip, Wright, Coombs, Lawson, Jacka and Moncrieff,” ACT chief minister and minister for land and property services Jon Stanhope said.
"Managing land supply is vital to help stabilise prices, to ensure adequate land is available to meet demand, and provide certainty to the private sector, helping ACT builders plan ahead," Mr Stanhope said.
The plan will begin with 5,500 sites released over 2011-12, a record numbers and an increase of 500 sites from last year's record land release program.
Mr Stanhope said the government would invest heavily in infrastructure to support the release of land which would be developed into residential housing.