Expert insights National Rental Affordability Scheme (NRAS) fifth round will not proceed: 2014 budget
National Rental Affordability Scheme (NRAS) fifth round will not proceed: 2014 budget
Jonathan ChancellorDecember 7, 2020
The fifth round of the National Rental Affordability Scheme (NRAS) will not proceed, following a 2014 budget announcement.
It was mooted in pre-budget leaks after the latest round of NRAS applications, round five, had been put on ice.
NRAS, which brings new rentals 20% below market into existence through incentives to developers and investors, has been under fire.
Property Observer has previously explored whether the scheme ought be scrapped.
Sarah Toohey, the affordable housing advocate, tweeted the news of NRAS not proceeding to its fifth round, along with the Community Housing Federation of Australia.
The budget papers suggest the saving by not proceeding with round five will be $235 million over three years.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.