Department of Housing partner delivers 500th house under National Rental Affordability Scheme (NRAS)
• Quantum Housing has constructed over $200m worth of NRAS dwellings
• Provides accommodation at a 20% discount
• WA Government will inject over $181m into the scheme
The Department of Housing has successfully partnered with Quantum Housing Group to deliver 500 new affordable rental homes to low-to-moderate income West Australians.
The 500th property is located within a boutique housing development on Wilson Street, Bassendean.
Located just 200 metres from the Bassendean town centre and 600 meters from Bassendean Train Station, the development offers in total seven NRAS properties for rents below market values.
Housing Minister Bill Marmion said the 500th dwelling epitomised what the NRAS was about; providing good quality affordable housing in areas where low to moderate income earners would be proud to call home.
“The fact that the 500th NRAS home delivered by Quantum is in a prime town center location in Perth shows that prospective tenants can now access more affordable rental accommodation through NRAS in areas which may have previously been difficult,” Mr Marmion said.
Quantum Housing is one of the department's approved participants in the NRAS and has constructed over $200million worth of dwellings for rent across the State over the past five years, at a 20 per cent market discount.
The NRAS is an Australian Government initiative which, through partnership with the States and Territories, as well as the private sector, aims to significantly increase the supply of new affordable rental dwellings across Australia. Under the scheme an annual incentive per dwelling of $10,500 (for up to 10 years) is provided to investors that construct new rental properties and rent them out at 20 per cent or more below market rent.
The Department of Housing contributes $2,587 annually to investors who offer NRAS dwellings to the community.
The Liberal National Government is committed to providing 7,000 NRAS dwellings by 2016, and is investing over $181million to build affordable rentals within Western Australia.
To date, over 1,600 NRAS homes have already been constructed in Western Australia.
Looking to the future, Quantum is now focused on rapidly delivering hundreds of more affordable rental properties and has recently been approved to deliver another 385 new NRAS homes in the recent ‘shovel ready’ funding round. These dwellings will be substantially completed by June 2014 and available to rent by December 31, 2014.
• For info outlining where current NRAS accommodation is available within WA visit http://www.dhw.wa.gov.au/housingoptions/rentaloptions/nras/Pages/default.aspx along with contact details for the tenancy managers
Minister’s office - 6552 6800