Minister for Housing and Homelessness, the Hon. Mark Butler MP, has announced a new round of the National Rental Affordability Scheme (NRAS), including 1,000 withdrawn or surrender incentives to be released on 18 April.
Wilhelm Harnisch, Chief Executive Officer of Master Builders Australia said the fifth round of incentives to build an additional 10,000 new affordable rental homes by 2016, is a win-win for industry and those struggling to enter the housing market.
"This scheme serves two very important purposes, it helps address Australia's growing housing affordability problem and also provides a welcome injection into the nation's building industry.”
"Of particular importance is the commitment to fund and fast track 1,000 new homes to be completed by June 2014 and available for rent under the National Rental Affordability Scheme soon after.”
"Building and construction is a key driver of the national economy. It employs more than a million Australians, contributes close to eight per cent of the nation's economic output and has a positive flow-on effect for other industries such as manufacturing and retail," Mr Harnisch said.
Housing Industry Australia’s Chief Executive of Industry Policy and Media, Graham Wolfe believes that housing affordability is a significant and growing problem in Australia and as a consequence, pressure on rental markets means that renting is becoming an equally unaffordable proposition.
"Access to affordable housing, and improved rates of home ownership in the community, must be high priority issues for both the government and opposition in this election year."
"NRAS is one important measure to foster more private investment in rental housing and we will be encouraging the industry to take up these new opportunities," concluded Mr Wolfe.
