National Rental Affordability Scheme (NRAS) fifth round will not proceed: 2014 budget

National Rental Affordability Scheme (NRAS) fifth round will not proceed: 2014 budget
National Rental Affordability Scheme (NRAS) fifth round will not proceed: 2014 budget

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.

National Rental Affordability Scheme (NRAS) fifth round will not proceed: 2014 budget

The budget papers suggest the saving by not proceeding with round five will be $235 million over three years.

Jonathan Chancellor

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.

Tags: 
Investor Opportunity Nras

Community Discussion

Be the first one to comment on this article
What would you like to say about this project?