GEELONG families will be moving into new state-managed rental properties by the end of the year.<\/p>\n
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.<\/p>\n
Greater Geelong will be among the first areas in regional Victoria to access the new scheme.<\/p>\n
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.<\/p>\n
“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.<\/p>\n
“Announcements on these projects will occur after business cases are finalised.<\/p>\n
“The first affordable rental properties in Geelong are anticipated to be available from late 2022.<\/p>\n
“More properties will come online throughout 2023-25.”<\/p>\n
The Affordable Housing Rental Scheme will provide leases of at least three years to low-to-moderate income earners.<\/p>\n
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 \u2013 which is the spend threshold that defines rental stress.<\/p>\n
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.<\/p>\n
Planning Minister Richard Wynne said the new scheme would play an important role in addressing the housing shortfall.<\/p>\n
“The scheme will help sustain and grow affordable housing and ensure more Victorians have the safety, security and dignity of a home,” he said.<\/p>\n
“The new Affordable Housing Scheme will offer an important new option to low- and moderate-income earners \u2013 including aged care, retail and hospitality workers – who need to find a secure rental.<\/p>\n
“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.”<\/p>\n","protected":false},"excerpt":{"rendered":"
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 […]<\/p>\n