Dear Potential Applicant,
Thank you for your interest in affordable housing and the Australian Government's National Rental Affordability Scheme.
As you know, rent increases are outstripping wages growth and inflation. This is making it harder for Australians on low to moderate incomes in the private rental market.
The National Rental Affordability Scheme is a major supply-side initiative to make rental properties more affordable by encouraging large-scale investment in rental housing for low and moderate income families and individuals.
It aims to assist institutional investors, developers and not-for-profit groups to deliver 50,000 rental dwellings over the next four financial years by creating a new residential property asset class for property investors.
The Scheme offers significant financial incentives to applicants commencing at a minimum value of $8,000 per dwelling annually, for a period of 10 years.
The Incentives provided under the Scheme will assist investors to develop proposals that provide an attractive rate of return. It presents a new investment opportunity in the Australian market. More than 1.5 million households will be eligible for tenancies under the Scheme - a large and diverse pool of potential tenants for investors in affordable housing projects that will be made available through the Scheme.
We trust this information will assist business to develop proposals to take up the incentives on offer.
Yours sincerely,
The Hon. Wayne Swan MP
Treasurer
Graeme Shiels - Mobile: 0417 725 168
Licensed Real Estate Agent and Managing Director