Government delivers more affordable housing
Australians looking for affordable rental properties across the country will welcome the federal government's initiative to deliver 10,000 homes for low and moderate income earners.
Speaking about the scheme today (October 18), federal minister for housing and homelessness Brendan O'Connor said the National Rental Affordability Scheme (NRAS) is providing more rental options across the country.
"We know that housing affordability is a concern for many families," Mr O'Connor explained.
Melburnians looking for rental properties in the Victorian capital may be interested in the 27 new apartments in the city's western suburbs officially opened today.
The NRAS scheme provides developers and investors financial incentives to build new homes which will be rented at an amount less than 20 per cent below the market rate - increasing housing affordability for low and middle income households.
"We know that NRAS tenants are saving on average $86.50 per week, or $4,472 per year, on a median weekly national NRAS rent of $245," Mr O'Connor said.
"Data from 2011 - 2012 shows that 15,719 people live in NRAS homes across Australia, including nurses, police officers, teachers, childcare workers and retail workers."