- Extra 1,000 rental opportunities under Round 4 of NRAS
West Australians on low to moderate incomes will benefit from an additional 1,000 incentives to be funded under Round 4 of the National Rental Affordability Scheme (NRAS).
Housing Minister Troy Buswell said the increased investment in NRAS was part of the State Government’s commitment to delivering more affordable housing options for West Australians.
“The additional funding will bring the total NRAS commitment in WA to 6,000 incentives, meaning we are well on the way to delivering the State Government’s target of an additional 20,000 affordable housing properties by 2020,” Mr Buswell said.
“A key component of the State Affordable Housing Strategy is collaboration between Government and the private sector to increase the percentage of affordable private rental properties, and NRAS is a great example of this.
“Properties eligible for the NRAS program will be built by the private sector and made available at a minimum of 20 per cent below market rental rates for the next 10 years.”
The Minister said a cash incentive was provided annually to property owners by the State Government.
“The State Government will make a significant financial contribution to this program, funding $2,381 per unit, indexed per year for the next 10 years, in addition to the incentive provided by the Federal Government,” he said.
“This is more than $14million per year across the next 10 years to increase affordable housing options for West Australians.”
Homes will be built across the State, including the North-West.
“Broome, Karratha, Newman, Onslow, Exmouth, Roebourne, South Hedland and Tom Price are some of the towns that will benefit from the scheme. The remainder of homes will be built in the metropolitan area, including in the south-east and north-east corridors,” Mr Buswell said.
Applicants will be advised of the allocation of the NRAS incentives once the recommendations are endorsed by the Federal Government.
Minister's office - 6552 6400