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Media Release by The Hon Tanya Pibersek MP

Over 1,000 New Affordable Rental Homes in Western Australia

More than 1,000 affordable rental homes will be built in Perth and southern Western Australia through the Rudd Labor Government’s National Rental Affordability Scheme.

Minister for Housing, Tanya Plibersek today announced that Yaran Residential Investments has been approved to build 1,114 new houses to be rented to low and moderate income earners at 20 per cent below market rent.

The Yaran proposal consists of 47 projects that are spread across the Perth region from Mandurah in the far south to Merriwa in the outer north.

Projects are also proposed for regional areas such as Denmark, Mount Barker and Bridgetown in the south west.

Ms Plibersek said that she was delighted that the National Rental Affordability Scheme would deliver new affordable rental homes in Western Australia.

“It is terrific that the Rudd Government’s National Rental Affordability Scheme will help to address the lack of affordable housing in Perth and southern Western Australia,” Ms Plibersek said.

“Homes under this program are rented out for at least 20 per cent below market rate to tenants who meet income eligibility requirements – including key workers such as nurses, child care workers and police officers.

“Each of the homes has to be newly constructed, which means that the National Rental Affordability Scheme is also supporting jobs for builders, tradespeople and their suppliers.”

Yaran Residential Investments are the first company to be awarded incentives under Round Three of NRAS.

Round Three was targeted at bids of more than 1,000 properties to encourage providers to invest in affordable rental housing at scale.

Ms Plibersek said the Government was pleased at the level of interest in NRAS from the private sector.

There are currently eight applications being assessed which would mean more than 12,000 new affordable homes across Australia.

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

The National Rental Affordability Scheme is one part of the Government’s program to increase the supply of affordable homes across Australia by more than 80,000 by mid-2012.