State rent properties approaching for Geelong

GEELONG families will be moving into new state-managed rental properties by the end of the year.

The state government is in discussion with local rental managers for government-owned affordable rentals as part of a plan to address housing affordability across Victoria and supply shortages in regional areas.

Greater Geelong will be among the first areas in regional Victoria to access the new scheme.

The government said at least 500 homes would be in regional Victoria among a rollout of 2400 across the state, but the exact distribution is not yet clear.

“Homes Victoria is currently well progressed with due diligence and business case development on two significant sites in the City of Greater Geelong,” a Homes Victoria spokesperson said.

“Announcements on these projects will occur after business cases are finalised.

“The first affordable rental properties in Geelong are anticipated to be available from late 2022.

“More properties will come online throughout 2023-25.”

The Affordable Housing Rental Scheme will provide leases of at least three years to low-to-moderate income earners.

Rents will be set at the median market price for the property’s location and size, and capped at 30 per cent of a regional Victorian median income – which is the spend threshold that defines rental stress.

Latest Victorian Housing Register data from December last year indicated that there were 3959 households waiting for social housing in the Barwon region, including 2860 on a priority access list.

Planning Minister Richard Wynne said the new scheme would play an important role in addressing the housing shortfall.

“The scheme will help sustain and grow affordable housing and ensure more Victorians have the safety, security and dignity of a home,” he said.

“The new Affordable Housing Scheme will offer an important new option to low- and moderate-income earners – including aged care, retail and hospitality workers – who need to find a secure rental.

“This Australian first program is a financially sustainable investment in boosting housing affordability and will encourage the rental market to provide more and better options for Victorians looking for a home to rent.”