Affordable rental homes for new Canberra suburb

Tanya Plibersek and ACT Minister for Planning Andrew Barr today announced that 22 new affordable rental homes would be built at the new Canberra suburb of Crace under the National Rental Affordability Scheme.

“The National Rental Affordability Scheme is delivering affordable rental homes for key workers and their families – like our police, nurses and teachers,” Ms Plibersek said.

“For each of these 22 new properties, CHC Affordable Housing will receive an annual tax-free incentive of $8,672, indexed to the rent component of the Consumer Price Index for 10 years.

“This will allow them to charge 25 per cent below market rate to eligible tenants.

“The new construction work also generates jobs by providing work for builders and tradespeople – as each dwelling needs to be newly constructed to qualify for the incentive.”

Mr Barr said the National Rental Affordability Scheme would help key workers to find affordable rental homes in this exciting new suburb.

“These homes are close to shops, cafes, community facilities, sporting fields, parks and public transport,” Mr Barr said.

“They are modern and minimise energy and water use, which helps to reduce electricity, gas and water bills.

“As well as creating more affordable rental homes, this is another great example of the Australian and ACT Governments working together to create jobs in the local construction industry during tough economic times.”

The Australian Government is investing more than $1 billion in the National Rental Affordability Scheme over the next four years.

The Scheme will deliver 50,000 new homes across Australia by 2012, which will be rented out to low and moderate income earners at a minimum 20 per cent below market rate.

Across all affordable housing programs, the Australian Government will increase the stock of affordable rental housing by more than 80,000 over the next four years.