More funding for affordable housing

The Gillard Labor Government will continue its commitment to affordable housing by doubling the number of homes to be built through the ‘shovel ready’ round under the National Rental Affordability Scheme (NRAS) to 2,000 homes.

NRAS offers annual financial incentives, currently valued at $10,350 per dwelling, for each year up to 10 years to build and rent new homes or apartments for low to moderate income tenants, at 20 per cent below the market value rent.

Minister for Housing and Homelessness, Mark Butler, made the announcement in Adelaide alongside Premier Jay Weatherill, saying the additional 1,000 homes would add to the 1,000 previously announced in March.

“We know housing affordability is a concern for many families right across Australia and we’re investing heavily to address that concern,” Mr Butler said.

“The ‘shovel ready’ round, opened in April and we’ve had an overwhelming response with more than 100 applications received.

“That includes more than 20 applications here in South Australia alone.

“The Weatherill Government has agreed to work with us to support 200 dwellings, which represents a combined investment of over $20 million for new affordable rental homes in South Australia.

NRAS is a critical part of the Australian Government’s efforts to help Australians struggling in the housing market with 50,000 affordable rental homes to be built by 30 June 2016.

“We have directly contributed to the construction of one in every 20 new homes since coming to office with programs like NRAS.”

“In contrast, the Federal Liberal Party ripped $3.1 billion out of the housing budget last time they were in government and actually voted against the building of 20,000 new homes when they had a chance to support affordable housing.

“We know the Liberal Party would cut to the bone on affordable housing if they were ever elected to government.”