From the Canberra Times:
The ACT’s land rent scheme allows low-income earners to rent a block of land from the ACT Government. They then only have to obtain finance for the cost of building a home.
The scheme was launched in 2008 but got away to an uncertain start when it took a year to find a financial institution willing to lend on the scheme.
But now Community CPS, which came to the scheme’s rescue, says it has exchanged contracts on 478 blocks and settled on 138.
The ACT’s land rent scheme is on its way to being replicated in other states and territories after deals have been signed on more than 600 blocks under the program.
Read the article here.