National Rental Affordability Scheme for the home
May 25, 2010 by Tim
Filed under Practical Renovation, Renovating, new building products, property market
Today, I write more about this scheme. Its a special deal for Essential Service delivery workers like, Ambulance drivers, Police , Nurses, Teachers, Firemen where they can rent for 25% under market rates. For the investors there is a top up of the rental loss with a tax paid subsidy, of Nine grand indexed to inflation. These deals can be so attractive they are strongly rental positive cash flow deals. In Queensland, the Queensland Affordable Housing Consortium is the one to talk to. In Victoria, its the Community Housing Limited. Initially, the scheme appealed to large developers and builders, now in the third stage its been broadened to the smaller end of the property market. While the scheme has been slow to make approvals, I hear its now taking off, with lots of numbers of homes in the application process. The plan is to build up to fifty thousand homes over three years.
Given close to eighty families apply for the each home, at a time perhaps it has some appeal?
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