$50m to save homebuyers: PM
HOMEBUYERS will save an average of $20,000 on more than 3200 homes and housing lots following a $50 million investment in housing-related infrastructure, Prime Minister Kevin Rudd says.
He said the money, which will be drawn from the Housing Affordability Fund, will be spent on water pipes, sewerage, road work and community facilities in housing developments.
"It will be welcome news for families looking for a new home," he told the ADC Cities Summit in Melbourne on Monday.
"Too many Australians are locked out of the housing market."
Mr Rudd said the investment would bring more than 7000 lots forward between six and 14 months faster than would otherwise have been the case.
"This will deliver around $26,000 in savings to around 450 homebuyers," Mr Rudd said.
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