Minister for Housing and Minister for the Status of Women

Media Release

National Rental Affordability Scheme delivers more affordable housing

15/09/2009

What is DAISY?

The Rudd Government today announced that it will deliver 6,741 new affordable rental homes for low and middle income earners under the second round of the National Rental Affordability Scheme.

The National Rental Affordability Scheme will help build up to 50,000 new properties across Australia by 2012, which will then be rented out at a minimum 20 per cent below market rate.

The Government is investing more than $1 billion in the National Rental Affordability Scheme over the next four years to increase the supply of new, affordable rental homes across Australia.

NRAS provides annual incentives to developers of $8,672 per home, indexed to the rental component of the CPI for a 10 year period.

This new construction work generates jobs by providing work for builders and tradespeople as each dwelling needs to be newly constructed to qualify for Government incentives.

The Government is keen to see low to moderate income workers such as those in childcare, retail and hospitality able to afford to live in areas where their skills are needed.

The Government created NRAS to increase the number of affordable rental properties across Australia and guarantee that they will be rented to people on low incomes including key workers.

The level of interest from the corporate sector has been particularly encouraging in round two and we expect that sector to continue to take advantage of the investment opportunity that NRAS provides.
Rental vacancy rates remain tight across Australia - particularly in capital cities.

This innovative scheme aims to provide affordability in the rental sector by requiring rents to be at least 20 per cent below market value for tenants who meet the income eligibility requirements.

NRAS Total Round Two Offers of Incentives:


State Inner Metropolitan Outer Metropolitan Provincial Rural Total
ACT 101       101
NSW 711 226 200 226 1363
QLD 329 460 359 501 1649
SA 311 123   108 542
TAS 70 114 40 113 337
VIC 1251 891 129 134 2405
WA 239 105     344
Total 3012 1919 728 1082 6741


NRAS Round 2 List of Successful Applicants




S tate Name of Applicant  Total
ACT Community Housing Canberra The Uniting Church in Australia Property Trust  8,912
ACT Total   101
NSW Affordable Community Housing Ltd  163
  Baptist Community Services - NSW & ACT  59
  BlueCHP Ltd  12
  Churches Community Housing Limited  56
  Community Housing Ltd  110
  Compass Housing Services Co Ltd Fourth Sector Enterprises Pty Ltd as Trustee for Tasmanian Community  160
  Housing Property Trust (TCHPT)  30
  Hume Community Housing Association Company Ltd  112
  Major Investment Group II Pty Ltd  20
  Mission Australia  126
  Payce Consolidated Ltd  350
  Queensland Affordable Housing Consortium Ltd  10
  The Uniting Church in Australia Property Trust  155
NSW Total   1,363
QLD Affordable Management Corporation Pty Ltd atf Affordable Housing Management Fund  111
  Alloa Properties Pty Ltd atf the DG and CM Allan Family Trust  20
  Ausbuild Developments Pty Ltd Aztec Developments (Qld) Pty Ltd atf Aztec 19 Joyce Trust and Network  95
  Homes Real Estate Pty Ltd atf Konan Hammer Trust  21
  Brisbane Housing Company Ltd  155
  Gladstone Central Committee on the Ageing  21
  Gold Coast Housing Company Ltd ING Garden Villages Pty Limited CAN 129 703 911 as trustee for the Garden  154
  Villages Management Trust Oak Tree Retirement Villages Pty Ltd and Oak Tree Retirement Village Park  20
  Avenue Pty Ltd  75
  Queensland Affordable Housing Consortium Ltd  904
  Spike (Qld) Pty Ltd  44
  Sundale Garden Village, Nambour  29
QLD Total   1,649
SA Adelaide Benevolent and Strangers Friend  Affordable Housing Consulting Pty Ltd  20 38 
Aged Care and Housing Group Incorporated  22
Bedford Industries Incorporated  21
Common Ground Adelaide Ltd  52
James Brown Memorial Trust  44
Julia Farr Housing Association Inc  26
Lutheran Community Housing Support Unit Inc  40
Portway Housing Association Incorporated  22
Service to Youth Council Inc  24
Southern Junction Community Services Inc  83
The Corporation of the City of Adelaide  27
Unity Housing Company Limited  103
Wheelchair Accessible Community Housing Association Incorporated  20
SA Total   542
TAS A D Bayne & R E Fergusson & F J Grant (in partnership) Fourth Sector Enterprises Pty Ltd as Trustee for Tasmanian Community  120
  Housing Property Trust (TCHPT)  21
  Mission Australia  28
  Ninety Four Feet Pty Ltd  42
  Southern Bay Investments  46
  St Ann's Homes Inc  80
TAS Total   337
VIC Common Equity Housing Ltd  354
  Ethan Affordable Housing Limited  148
  Hamton JV (Coburg) Pty Ltd  255
  Holmeslen Institute of Tafe  100
  Mission Australia  285
  Monash University Oak Tree Retirement Villages Pty Ltd and Oak Tree Retirement Village Park  750
  Avenue Pty Ltd  25
  Supported Housing Limited  461
  The Uniting Church in Australia Property Trust  27
VIC Total   2,405
WA Accelerated Wealth Systems PL ATF The Affordable Housing Systems Group Unit Trust  105
  Florin Pty Ltd Foundation Housing as the WA Leading Agency for the Urban Affordable  39
  Housing Association  200
WA Total   344
Total   6,741