Government To Deliver Almost 4,000 New Affordable Rental Homes

Government to Deliver Almost 4,000 New Affordable Rental Homes Under Round One of the National Rental Affordability Scheme

The Australian Government will deliver 3899 new affordable rental homes for low and middle income families under the first round of the National Affordable Rental Scheme (NRAS).

I have written to all of the applicants, advising of the outcomes of the assessment process from round one of the NRAS," Ms Plibersek said.

"This is an excellent outcome for households on low to moderate incomes, including key workers, who meet the eligibility requirements to rent these affordable rental homes.

By providing incentives to build new rental homes the Australian Government is also supporting jobs in the construction and building industry at a time when we need them most." Ms Plibersek said.

Ms Plibersek said the level of interest from potential applicants in Round Two of the Scheme which closed on 27 March 2009 was very strong.

"I am encouraged by an increased level of interest from the corporate sector in participating in this innovative program which provides annual incentives of $8000 per home for a 10 year period."

"I strongly encourage potential investors to consider the opportunities offered through affordable housing supported by the NRAS."

NRAS aims to improve affordability in the private rental sector by requiring rents to be at least 20 per cent below market value to tenants who meet the income eligibility requirements.

More details on the NRAS can be found at http://www.fahcsia.gov.au/housing.

For more information, please contact Michael Woodhouse ph 0458 269 997.
Monday, 30 March 2009

SOURCE: Minister For Housing, The Hon Tanya Plibersek MP