14/12/2024
Thousands of low-income renters across the country are facing eviction or higher rents as government subsidies come to an end.
The federally funded National Rental Affordability Scheme (NRAS) gives incentives to housing providers, which then rent properties out for at least 20 per cent below market rates.
Each investor can access the scheme for up to 10 years.
The program started in 2008 with the goal of boosting the number of affordable rental properties in Australia but was axed by the Abbott government in 2014.
According to the latest figures, 8,589 homes nationally will leave the NRAS this year, meaning many renters will either be slugged with higher rents, or have to compete to find a new home in a tight market. the last remaining ones will be 4,591 next year by June 2025.
For years, thousands of Australians have been paying lower rents thanks to a federal housing scheme. But as it winds up, there are fears some low-income tenants will struggle to find a place to live as rents rise nationwide.