More than 6600 homes across Australia will cease to be part of a rental affordability scheme despite vacancy rates in all states and territories remaining at near record lows
More than 6600 homes across the country will cease to be part of a rental affordability scheme as cost-of-living pressures rise and rental vacancy rates in all states and territories remain near record lows.
Azize said Australia was already short about 500,000 social homes, and rental conditions meant it had never been more difficult for people to find shelter.. In Perth, Adelaide and Hobart, vacancy rates were below 0.5 per cent for November, while in Sydney and Melbourne the vacancy rates were 1.1 per cent.
The scheme was axed by the Abbott Coalition government in 2014 and will be wound up completely by the end of 2026.This year, 6619 homes will exit the scheme. Nearly 2500 of those homes are in Queensland, while Victoria will lose 1356 properties from the scheme. Western Australia will lose 1110, and NSW will lose 605. There will be nearly 18,000 homes left on the scheme at the end of the year, with another 9200 exiting the following year.
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