First affordable rental dwellings in Tennant Creek now available

The first eight rental dwellings under the Country Liberals Governments Real Housing for Growth head-lease initiative are now ready for rent in Tennant Creek.

The properties will be available for $231 per week, 30% below market rent rates.

The government will lease privately owned dwellings for a 10-year period and the owner/investor is guaranteed 52 weeks market rent per year.

The government will then rent the dwelling to eligible key workers at 30% below market rate.

“This project is an excellent example of how the Country Liberals Government is working with the private sector to increase the supply of affordable housing with an aim to deliver 2000 new homes across the Territory over the next four years,” says Minister for Housing Matt Conlan.

“Labor took their eye off the ball when it came to land release and as a result housing prices all over the Territory sky rocketed.

“The Country Liberals are acting quickly to ensure Territory workers aren’t squeezed out by the high cost of rents caused by the former Labor government’s failed policies.

“We want workers and their families to be able to stay in towns like Tennant Creek and enjoy our unique lifestyle,” says Conlan.

“That’s why we’ve committed $3.8 million in 2013-14 to support the initiatives under Real Housing for Growth plan, including the head-lease initiative which will help keep key workers such as mechanics, shop workers, hairdressers, health workers, hospitality workers and apprentices in the NT.

Conlan says the rent saving will make a real difference in the lives of Tennant Creek residents and young families struggling with the cost of rent.

Head-Lease Agreements have already been issued for three sites, including one development at Coolalinga and two developments in Tennant Creek and negotiations are being finalised with other shortlisted developers to build up to 500 homes on privately owned sites and on government land by early 2015.

news@propertyobserver.com.au

Nicola Trotman

Nicola Trotman

With a penchant for the written word, Nicola has built a career doing just this – now Creative Director at thriving Melbourne-based PR agency, Greenpoint Media.

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