The ACT Government has announced adoption of a pivotal recommendation from their Housing Affordability Taskforce - a land rental scheme.

In a flashback to the leasehold payments scheme that ACT had up until 1970, people of low household income (less than $75,000pa) will be able to make small annual payments for their land, so they can focus their repayments on the house component.

The Canberra Times reports that the scheme will eventually be available to people of higher incomes.

A key facet of this scheme is that it shouldn't drive the market upwards as happened with the former Federal Government's First Home Owners grants, and would likely happen under the ACT Liberals' proposed First Home Owners' Stamp Duty exemption.