There was something good for you in the budget…after all

While there appears to be little in the budget apart from some short term hand outs and nothing for building long term for the future there actually is some good news.

The Federal Government’s Budget 2012 clearly states that the  National Rental Affordability Scheme (NRAS) has an assured future. Last years Budget made some significant changes in slowing the rollout of NRAS properties. But this year it is clear that the Government is anxious to get NRAS back on track.

The Minister for Housing, Brendan O’Connor, states:

“We will continue to support the $4.5 billion National Rental Affordability Scheme, delivering 50,000 new rental homes across Australia by 2016.

To date, we have delivered nearly 8,000 new homes across Australia through the Scheme to be rented to low and moderate income earners, including essential service workers such as childcare workers, nurses, police officers and fire-fighters, at reduced market rates.”

See full media release.

We are now in the fourth round of NRAS Allocations which will result in a total of 35,000 new homes being built nationally.  With the overall target for NRAS of 50,000, further announcements are expected late this year in terms of the next 15,000 allocations.

With 2,000 – 3,000 of these annual allocations being made to SA there is a very limited supply.

At this stage we expect to have 100 – 150 available for the rest of the year so it will be first in first served.

And we won’t waste your time either…if we can make the promise that we believe you will get the finance needed, then you will.  Our track record proves this.

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