Hon Colin Holt BSc MLC

Hon Colin Holt BSc MLC

Former Minister for Housing; Racing and Gaming

    More than 3,000 affordable rentals and counting

    4/05/2016 6:00 AM
     
    • 3,262 affordable private rental dwellings for eligible low-to-moderate income households across WA since July 2008
    • Combined effort by State and Australian government agencies, private enterprise and not-for-profit sector
    • Encouraging investment and innovation in the housing sector  

    More than 3,000 new dwellings have been delivered under the National Rental Affordability Scheme (NRAS) in Western Australia since the Barnett Government came to power.

     

    Housing Minister Colin Holt said the scheme had benefited thousands of people who had previously struggled to afford private rental accommodation.

     

    "Under the scheme, we've partnered with the Australian Government, private enterprise and the not-for-profit sector to encourage investment and innovation in the delivery of affordable rental housing," Mr Holt said.

     

    "This has provided a boost in supply for eligible people on low-to-moderate incomes who now have access to more than 3,000 new rental properties at below-market rates."

     

    The scheme is an Australian Government initiative delivered in partnership with the States and Territories.  It provides incentives for developers and investors who build new accommodation and agree to rent it at least 20 per cent below the market rate for up to 10 years.

     

    The Housing Authority in WA works actively with approved participants and the Australian Government's Department of Social Services to maximise the delivery of NRAS dwellings.

     

    The Minister congratulated the authority and its partners on achieving the milestone.

     

    "The not-for-profit sector in WA has delivered 410 NRAS dwellings, with the rest delivered by the private sector," he said. 

     

    "The scheme provides one of the few market-facing initiatives that address both housing supply and affordability and is an example of how levels of government can work together to achieve mutually beneficial outcomes." 

     

    Affordable private market rentals, such as NRAS dwellings, are an important part of the housing continuum and the Liberal National Government's Affordable Housing Strategy 2010-2020: Aiming Higher, which to date has delivered more than 20,000 affordable housing opportunities.

     

    Fact File

    • The Australian Government's Department of Social Services is responsible for the administration of NRAS, including compliance and change request applications
    • The 2015-16 NRAS incentive for investors and developers is $10,917 which comprised $8,187 from the Australian Government and $2,729 from the State Government
    • Incentives are indexed annually across the 10 years a dwelling is in the scheme 

    Minister's office - 6552 6100