Sell residential sections under long term agreements for sale and purchase (up to 25 years) to first home buyers, on a cost recovery basis, so that first home buyers will have access to sections which are affordable, reducing the overall initial capital cost of a new home by about one-third. Interest at 2% p.a. for at least 5 years, then rising to lowest market rates. Purchasers would build their own homes using normal bank financing, with title to the section transferred to them and the amount owing for the section secured by a second ranking statutory land charge.
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