2,300 homes for WA funded from Round 4 of the National Rental Affordability Scheme (NRAS)
Affordable rental options in Western Australia will increase substantially with the announcement of 2,300 new properties to be funded under Round 4 of the National Rental Affordability Scheme (NRAS).
Housing Minister Troy Buswell said the latest allocation brought the total NRAS allocation in the State to 5,000 properties.
“These 2,300 properties will provide a much-needed boost to the supply of affordable rental housing in WA,” Mr Buswell said.
“An additional benefit is the stimulus it will provide to the building and construction industry, during a downturn in new homes being built across the State.”
The State Government will provide a cash incentive of $2,285 annually, indexed per year for the next 10 years, to property owners under the NRAS scheme, in addition to the incentive provided by the Federal Government.
“This is more than $11.4million per year over the next 10 years to increase affordable housing options in the State,” the Minister said.
Properties eligible for the NRAS program must be either newly-constructed or recently completed, and will be located in areas of most need, particularly those with employment, transport, schools and other services nearby.
Mr Buswell said the properties would be constructed across the State, including 920 in the North-West.
“Areas such as Broome, Derby, South Hedland and Tom Price in the north, Kalgoorlie to the east and Margaret River, Bunbury and Bridgetown to the south are some of the towns that will benefit from NRAS,” he said.
“We have been very successful in delivering NRAS in WA, and it continues to be an important element among our innovative initiatives to deliver affordable housing options to low and middle income earners.”
Minister's office - 9213 6900