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House of Assembly - Fifty-Second Parliament, First Session (52-1)
2010-10-14 Daily Xml
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AFFORDABLE HOUSING

Ms THOMPSON (Reynell) (15:04): My question is to the Minister for Housing. Can the minister advise the house of the latest developments in the provision of affordable housing through the National Rental Affordability Scheme?

The Hon. J.M. RANKINE (Wright—Minister for Families and Communities, Minister for Housing, Minister for Ageing, Minister for Disability) (15:04): This morning I had the pleasure of announcing South Australia's participation in round 4 of the National Rental Affordability Scheme. In addition to previous NRAS approvals, the state government will now provide an additional $50 million to help fund 1,626 new affordable homes for South Australians. Today's decision will lead to a construction program even bigger than the recent Nation Building-Economic Stimulus package, which is delivering 1,360 new homes for public and community housing tenants. Around Australia, we are continuing to experience a housing supply shortfall, and we know that this affects people who can least afford it.

Through NRAS, we will provide funding to help build new and affordable properties, giving low to middle income earners a decent place to call home at a rent level that they can afford. Housing SA will now seek partners, including community housing groups and developers, to build these properties and reduce pressure on the rental market. The homes will be available to single people and families who meet certain rental criteria, starting from an upper income limit of $42,386 for a single person, about $58,000 for a single parent with a child, and more for couples with children. Houses built under NRAS must be rented out at a minimum of 20 per cent below the market rate.

The commonwealth government's goal is that NRAS will generate 50,000 new rental properties across Australia by 2014, and South Australia's target is 3,800 homes. We have previously committed to funding 1,304 houses in rounds 1 and 2 and are awaiting results from round 3, which had a minimum of 1,000 houses per applicant. South Australia is already reaping the rewards of NRAS, with 254 already built and hundreds more under construction or committed. We are seeing these homes in the inner city, including a development in partnership with Unity Housing that I visited this morning, and we will be encouraging bids for regional South Australia as part of this round 4 process.

Under the scheme, the federal government gives housing providers an annual incentive of $6,855 per home, and the state government $2,285, indexed to the rental component of the CPI for a 10-year period. The 10-year subsidy ensures that these rental properties will remain affordable for at least the next decade, and I hope that many of the families who are housed under this scheme will be able to recognise their dream of home ownership during that time. This announcement continues this government's commitment and proven success in delivering affordable and innovative housing solutions to South Australians.

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