Australia could lose thousands of affordable homes this year, plunging more renters into housing stress when properties are wiped from a federal scheme
The NRAS, which commenced in 2008, provided an annual financial incentive for up to 10 years to approved participants who rent dwellings to eligible people on low to moderate incomes at a rate at least 20 per cent below market rent.“Private investors are likely to raise rents, and community housing providers could struggle to provide affordable homes once subsidies are gone.
“Many Australian suburbs have hit record high rents and thousands of tenants are in rental stress. The government can start changing that from this year if it’s ambitious enough.” The former federal Liberal government axed the NRAS in 2014, with properties progressively exiting the scheme as their 10 year period for incentives ends.
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