Being one of the states foremost experts on the National Rental Affordability Scheme (NRAS) we have long argued that the government overreacted to the actions of some overzealous Eastern seaboard developers and marketers when they cancelled the scheme in 2014.We have seen first-hand the positive effect this scheme has had on moderate income tenants, investors and the building industry in general.
It addressed affordable housing like no other scheme before it and encouraged valuable private investment into the industry.
It would seem that the Senate Inquiry into NRAS now thinks the same.
Whether or not this is the catalyst for consideration of the scheme to be reinstated, we will wait and see but as the Senate comments on – if the government is not reinstating NRAS – then they must have a secondary plan of attack to address affordable housing.
We are all keeping our fingers crossed that common sense prevails.
Have a read of the article here and we would appreciate any comments you may have.