TAKE THE PRESSURE DOWN: The Greens Plan to Boost Rental Supply
One in three Australians currently rent their home. Renters are often the worst affected in Australia’s worsening housing crisis.
The current gap of affordable and available rentals is more than 500,000. The average rent has at least doubled in every city since 2000, but in Brisbane, Perth, Darwin and Canberra the rent has tripled since 2000.
Working Australians like pre-school teachers, hairdressers, bakers, shop assistants, bricklayers, carpenters or plasterers, nursing assistants, and dental technicians - can’t afford the median rent.
People on the minimum wage are paying about 72% of their income on a median rental, compared to 35% a decade ago. This means people must go without and struggle to pay other bills and expenses.
The Greens Rental Supply Boost would build 85,000 new affordable rentals over the next decade, benefiting more than 220,000 people, and reducing the pressure in the rental market.
THE GREENS RENTAL SUPPLY BOOST WOULD:
· Review and fund another 50,000 homes under the National Rental Affordability Scheme (NRAS) and provide an additional incentive to ensure they are exemplary green buildings and come with solar PV
· Provide funding for 20,000 student rentals through a new University NRAS scheme
· Provide funding for 15,000 new rental homes through our ‘Convert to Rent’ Initiative
· Include a target of one third pre-fabricated, fast build, modular housing
· Review the effectiveness of Commonwealth Rent Assistance
A RENTAL REVOLUTION
The Rental Supply Boost is an additional piece of the Greens Rental Revolution – a suite of initiatives that will fix our rental market.
Our fully costed and peer reviewed Rental Revolution package would:
· Ensure renters get a fair deal with our Renters Rights package
· Boost the number of affordable rental properties by expanding the National Rental Affordability Scheme
· Provide an additional 20,000 affordable rentals for students by creating Uni-NRAS
· Cut housing waiting lists by investing in social housing
· Convert empty properties into affordable housing
· Provide secure and ethical investment opportunities that ease the housing squeeze with our ‘Safe as Houses’ Bonds initiative
The Greens are committed to urgently and comprehensively addressing the housing affordability crisis. We care about Australia’s renters and are providing a much needed voice for them via our Rental Health Check survey.
And, for the 105,000 people who find themselves are homeless on any given night in Australia, we have a package to help them too.