Cheap rentals may be on the way

In these tough economic times there could be some relief for low to middle income earners in the form of rental rebates and more rental homes. The new scheme is called the National Rental Affordability Scheme (NRAF) and is part of the Government’s efforts to provide more affordable housing to those in need. Initially the scheme will see families moving into these homes as early as the coming weeks and the goal is to provide 50,000 new rental homes over the next four years. Federal Housing Minister Tanya Plibersek described the Government's $623 million commitment as a "revolutionary'' approach to boosting affordable housing.

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