NEW PLAN FOR HOME OWNERSHIP

A “RADICAL” plan to allow Toowoomba residents to own an affordable home has been proposed by an independent running for Groom at the upcoming election.

Kirstie Smolenski says her Housing Affordability Initiative will be introduced as a private members’ bill if she is elected after May 21.

She said the plan is similar to community title schemes seen in retirement resorts, where the land is owned by a single entity (in this case the Toowoomba council) and houses can be bought by residents on 99-year leases.

Ms Smolenski said council’s infrastructure costs would be covered by federal funding, and government bonds would be used to buy the land if it was held privately.

The proposal essentially removes any potential for capital gains to be made, since Ms Smolenski said the homes’ values would be indexed, while new homebuyers would still likely need to get finance.

For the full story, head to thechronicle.com.au.

HOME PLAN: Independent candidate for Groom Kirstie Smolenski has unveiled her "radical" affordable housing plan for the upcoming federal election.