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Property News

More affordable housing for Queensland

July 23, 2012

Queensland rental properties are set to become more affordable with a new apartment complex in Scarborough offering leases well below the market value.

For those looking to rent a property in the Sunshine State, the opening of the Anglesey complex in the seaside suburb of Scarborough may be of interest, with rental prices 25 per cent lower than the market rate.

State minister for housing and public works Bruce Flegg opened the Bunton Street complex last week (July 20) - consisting of 32 studios and 40 two-bedroom units.

He commented: "Having an affordable place to call home is a basic need, and I'm determined that all Queenslanders should have access to this.

"This government is committed to addressing housing affordability and will deliver a coordinated approach to tackling the issue."

The complex is supported through the local and national government's National Rental Affordability Scheme (NRAS), which provides financial incentives for property investors to lease new housing at no more than 80 per cent of the market rate.

Since its inception, almost 2,500 affordable rentals have been delivered across Queensland.

"The new units provide our community with a large number of affordable housing options and relief from rental stress," Mr Flegg explained.

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