Community CPS Australia committed to the future of ACT’s Land Rent Scheme

Community CPS Australia Chief Executive Officer said today the credit union was pleased that its Land Rent Scheme was helping an increasing number of lower income earners own their own home. Mr Keogh said that without the scheme, many individuals may not be able to break the rent cycle.

"During the last year the community has truly embraced the concept and we have already helped around 70 families realise their dream of home ownership. As a mutually owned organisation housing affordability is an issue close to our hearts, which is why we got behind the scheme in 2008," said Mr Keogh.

"The positive response from the community along with increased levels of enquiries reinforce our commitment to the scheme, and we will continue to promote it to make it more accessible to the community."

He said the success of the scheme has prompted Community CPS to investigate expanding it to other states in the future.

"Since the successful introduction of the scheme in the ACT we are undertaking a project to see whether a similar scheme could be applied in other jurisdictions around the country. We will work in partnership, as we have with the ACT Government, with other state government departments to make housing affordability within people’s reach," said Mr Keogh.