New affordable homes to be built in South Australia
More affordable rental homes will be made available in South Australia under further rounds of the National Rental Affordability Scheme.
Premier Jay Weatherill today announced that the State Government would participate in a further two rounds of the scheme.
"The next round of National Rental Affordability Scheme homes includes properties that are shovel-ready, which means construction will begin soon," Mr Weatherill said.
"Through this round, 200 properties will be built that will be ready for rent by December 2014.
"In the following round, a further 300 properties that will be available for rent in 2015-16.
"These 500 properties will be available to assist South Australians who may otherwise find it difficult to enter the private rental market."
Social Housing Minister Tony Piccolo said the properties would be available to a diverse mix of South Australians in need of affordable housing.
"The construction of these properties will stimulate the South Australian construction industry, with the shovel-ready projects to begin in the next few months."
The National Rental Affordability Scheme is a long-term commitment between the Federal and State Governments to invest in affordable rental housing and address housing stress and the cost of rental housing.
Annual financial incentives are offered to build and rent new homes or apartments for low to moderate income tenants at 20 per cent below market value rents.
"To date, more than 2000 South Australians on low to moderate incomes have been assisted into rental properties, saving $3000 - $4000 each year on rent, as a result of NRAS," Mr Piccolo said.
"The State Government's participation in this scheme demonstrates our commitment to making South Australia a more affordable place to live."