PALASZCZUK GOVERNMENT PARTNERS WITH COAST2BAY TO PURCHASE EX-NRAS HOMES
9th August 2023
• The Palaszczuk Government is partnering with community housing provider Coast2Bay to buy up to 121 homes across the Sunshine Coast, Moreton Bay and Gympie to become social and affordable housing
• Most of the homes are exiting from the National Rental Affordability Scheme (NRAS)
• Through its Housing Investment Fund (HIF), the Palaszczuk Government is supporting two community housing providers, including Coast2Bay, to buy up to 335 former NRAS properties in total
• It’s part of a record $5 billion for social and affordable homes – the largest investment in Queensland’s history – to help deliver 13,500 homes
The homes secured will be a mix of detached houses, townhouses and apartments.
The first 24 homes are already under contract and tenants will now be able to continue in these homes through the partnership between the HIF and Coast2Bay.
Most of the homes were part of the soon to be closed NRAS, an Australian Government initiative which offers affordable rental homes to eligible households and which will cease in 2026.
It comes as the Palaszczuk Government also partners with Coast2Bay to build new homes.
Housing Minister Meaghan Scanlon visited a property in Yandina where builder are construction a complex of 23 one-bedroom and three two-bedroom apartments.
The government has contributed $9.78 million to this project which, once complete in October 2023, will provide homes for Queenslanders on the social housing register.
Quotes attributable to Housing Minister Meaghan Scanlan:
“Every week, we're adding more social and affordable homes through new builds, purchases, and repurposing.
“That’s through a record $5 billion investment in social and affordable housing – including our Housing Investment Fund.
“The HIF means that Queenslanders will be able to continue to access critical funding for housing projects not just now but into the future.
“It’s disappointing to see similar proposals by the Federal Government being blocked by the LNP and Greens – a proposal that would provide funding certainty into the future.”
Quotes attributable to Member for Caloundra Jason Hunt:
“The purchase of existing stock is one way we can increase the number of properties available to people in need, quickly, so this makes good sense.
“By purchasing these homes, we can provide peace of mind for existing residents and homes for households from the social housing register where properties are vacant.
Quotes attributable to Member for Nicklin Rob Skelton:
“The Housing Investment Fund gives us the means to support more of these types of proposals, which are one of the quickest ways to address housing need.
“It adds to builds that we’re rolling out across Queensland, including in Yandina where another 25 homes are being built.”
Anyone who needs housing assistance can contact their local Housing Service Centre during business hours or call the 24/7 Homeless Hotline on 1800 474 753.