Labor aiming for more affordable rentals in Canberra

Barcham 24 July 2013 2

Andrews Leigh and Barr today opened the Eclipse development in Bruce, built under the Labor’s National Rental Affordability Scheme.

“Labor understands that housing affordability is a concern for many Australians and we’re investing heavily to address that concern – including right here in Canberra,” Dr Leigh said.

“The Federal Government is investing close to $5.5 million in the Eclipse complex with the ACT Government contributing $2 million.

“Seventy three of the 223 apartments in the complex have been set aside to be rented at lower than market rate to tenants on low or moderate incomes under our National Rental Affordability Scheme.

“The new complex includes a range of apartments designed to suit families and individuals—there are five studios, 45 one-bedroom, 20 two-bedroom and three 3-bedroom apartments.

“Most importantly, these units will provide long-term housing security to low and middle-income tenants.”

Mr Barr thanked the developer, Community Housing Canberra, for its commitment to provide affordable housing in the ACT.

“Tenants renting an NRAS property in Eclipse will pay around $3800 a year less than they would for a similar property being rented on the open market,” Mr Barr said.

“CHC Affordable Housing has been a major provider of NRAS properties in the ACT and is the first locally based developer to offer individual investors an opportunity to participate in the scheme.

“The ACT Government and CHC Affordable Housing have a long-standing partnership to provide 1000 new affordable properties for rent and sale by 2018.”

Minister for Housing and Homelessness Julie Collins said the National Rental Affordability Scheme was a vital part of Labor’s record $26 billion investment in affordable housing.

“The scheme is saving low and middle-income tenants thousands of dollars each year and will deliver 50,000 more affordable rental homes by June 2016. More than 14,000 are already built with another 24,000 in the pipeline—including 2,600 in the ACT,” Ms Collins said.

We keep hearing good news about rent prices in Canberra, but it’s still far from a reasonably priced market.

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2 Responses to Labor aiming for more affordable rentals in Canberra
460cixy 460cixy 11:49 am 26 Jul 13

Labour the pubes party

caf caf 12:11 am 26 Jul 13

The ACT government could probably reduce rental prices by offering a land tax reduction on properties rented for less than some chosen amount per week.

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