Media Release by The Hon Tanya Pibersek MP

National Rental Affordability Scheme delivers homes for families in Pinjarra

Minister for Housing Tanya Plibersek today inspected two new homes in Pinjarra that will provide affordable rental accommodation for families on low and moderate incomes.

The homes are among 35 four-bedroom houses to be constructed by property investment company Questus Funds Management in Pinjarra as part of the National Rental Affordability Scheme.

Of those, 22 homes have been built, and a further 13 are due to be completed by the middle of this year.

The homes will be managed by Foundation Housing, one of Western Australia’s largest affordable housing providers.

Ms Plibersek said the homes will be rented at 20 per cent below market rate to families who meet the eligibility requirements.

“This will allow low and moderate income earners such as those in childcare, retail, and hospitality to live in areas where their skills are needed,” Ms Plibersek said.

“These double-brick homes are ideally suited for families, providing four bedrooms, two bathrooms, and a double lock-up garage, as well as air-conditioning, landscaped gardens, and water reticulation systems.

“They are also located near schools, parks, shops, restaurants, and childcare centres.

Questus Funds Management is delivering a further 25 three-bedroom National Rental Affordability Scheme homes in the region, of which six have been completed.

Investment company Accelerated Wealth Systems will deliver another 41 three-bedroom homes in the region under the Scheme, of which 11 have been built.

That takes the total number of National Rental Affordability Scheme allocations in the region to 101.

Ms Plibersek said the fact that the homes are required to be new construction means a boost to the local economy.

“These homes will support local jobs in the area through the use of local builders, contractors and suppliers,” Ms Plibersek said.

The National Rental Affordability Scheme will help build up to 50,000 new rental properties across Australia by mid 2012. If market demand remains strong, incentives for a further 50,000 affordable rental dwellings will be made available.

The National Rental Affordability Scheme offers a tax credit to investors in return for the guarantee that the units will be rented out at a minimum 20 per cent below market rate.