The ACT government was warned its “unsustainable” monopoly on land sales was driving up the cost of land and making housing more unaffordable almost 20 years ago, newly declassified Cabinet documents show.
A 2007 submission obtained by The Canberra Times under the 10-year release rule said the community was concerned about the “erosion of affordable housing” as far back as 2001, shortly after the Stanhope Labor government was elected.
While the Stanhope government largely acted on the concerns through its affordable housing action plan, the governments of his successors has become ever more reliant on rising land sales revenue.
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Source: The Canberra Times