Affordable housing boost for the nation
The delivery of almost 9,000 affordable rental properties across the country will free up the housing market for the benefit of Australians on low to moderate incomes.
Under the National Rental Affordability Scheme (NRAS) more than 8,600 properties have been built around the nation - making it more affordable for Australians to rent a house.
Figures from the June 2012 NRAS Performance Report revealed about 4,700 new homes were built in the last financial year, with an additional 31,000 to be constructed.
The NRAS scheme provides financial incentives to business and community sectors to build new properties and rent them at least 20 per cent below the market rate.
"Today's report confirms that we are continuing to help make rental accommodation more affordable for Australians on low and moderate incomes," federal housing minister Brendan O'Connor said on July 16.
The monthly report showed that in the past year, about 900 townhouses, 1,300 houses and 2,500 new houses were delivered across the country.
"These new homes will not only benefit the people living in them, they also play an important role in freeing up other rental properties so that they can be made available to other Australians on low and moderate incomes."