Affordable Rental Housing - ARH

Discussion in 'Property Market Economics' started by ttn, 16th Jun, 2019.

Join Australia's most dynamic and respected property investment community
  1. ttn

    ttn Well-Known Member

    Joined:
    9th Sep, 2016
    Posts:
    557
    Location:
    Sydney
    Always thought that ARH are for lowish income earners but offered really surprising below income bracket for applicants

    Is that the normal income for ARH? Pretty sure NRAS income limits are a lot lower than that

    Eligibility criteria:

    - Applicants must be employed as a key worker in frontline services
    - Key workers who may be eligible are people who work in essential industries such as aged care, health care, education, emergency services, law enforcement and childcare.
    - Applicants must not own property that can solve their immediate housing need
    - Must not earn more than the following income limits:

    Single - $90,130
    Single + 1 child - $117,226
    Single + 2 children - $144,321
    Single + 3 children - $171,416
    Single + 4 children - $198,511
    Couple - $135,196
    Couple + 1 child - $162,291
    Couple + 2 children - $189,386
    Couple + 3 children - $216,481

    1 Cliff Road Epping NSW 2121 - Apartment for Rent #426494342 - realestate.com.au
     
    ttn, 16th Jun, 2019
    #1
  2. Joynz

    Joynz Well-Known Member

    Joined:
    5th Apr, 2016
    Posts:
    5,755
    Location:
    Melbourne
    Purpose is different. The purpose of affordable housing for essential workers is to keep those employees nearer to their necessary jobs.

    That rental seems pretty pricey though.

    I notice that cleaning isn’t on the list. Just as well - because that rent is a long way from affordable for them!
     
    Joynz, 16th Jun, 2019
    #2
  3. Angel

    Angel Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    5,816
    Location:
    Paradise, Brisbane
    I guess NRAS is for lower-income people across Australia like my kids (they are registered but still paying for a regular non-nras unit), whereas this scheme would be just for Sydney.
     
    Angel, 16th Jun, 2019
    #3
  4. euro73

    euro73 Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,129
    Location:
    The beautiful Hills District, Sydney Australia
    Looks like a new Affordable Housing pilot , managed by Echo, which is the property arm of Evolve Housing - a Community Housing Provider based in Parramatta .

    Affordable Housing has been around in NSW for over a decade . This seems to be some sort of twist on Affordable though, and as others have stated - it’s pricey . I mean , those income tests are way above conventional affordable housing or NRAS levels . They are so high you have to wonder whether they fall under the definition of affordable at all. Should a single person on 90k be getting a 20% rental discount ? Or a 216k family ?
     
    Last edited: 16th Jun, 2019
    euro73, 16th Jun, 2019
    #4
From $20k to $25 Million: The Chris Gray Story