04-March-2009
Goldstein Media Releases, Infrastructure, Community, Funding
Availability of rental housing in Bayside should improve under the National Rental Affordability Scheme. The Scheme is designed to assist households on low and moderate incomes who are struggling to find suitable rentals.
The Scheme, aimed to stimulate the construction of 50,000 additional rental dwellings across the country over the next four years, offers incentives of $8,000 for each dwelling, each year, for a period of ten years. Round Two of the Scheme is now open.
“I encourage interested financiers, developers, charities and community housing providers in Bayside to apply,” Andrew Robb, Federal Member for Goldstein, said.
“While support for households on low and moderate incomes who are renting is welcome, the Rudd Government must also take responsibility for those homeowners in Bayside who locked themselves into fixed interest rate loans last year due to their exaggerated warnings about inflation,” Mr Robb said.
Early last year, the Rudd Government warned that rising inflation would push up interest rates, scaring many home buyers and businesses to lock into fixed rate loans shortly before the Reserve Bank cut official interest rates by 4 per cent. If these home buyers and small businesses wish to move to the lower variable rate, they must accept break fees of tens of thousands of dollars.
“The Rudd Government should urge banks to provide interim relief to those families facing foreclosure across Australia and provide clear information about how many home buyers and businesses took out fixed rate loans in the first half of last year.
“The exaggerated warnings early last year such as there being an ‘inflation monster’ are a further example of panicked and rushed action, typical of both Mr Swan and Mr Rudd.
“It’s time the Rudd Government accepted responsibility for what has happened to these home buyers and businesses,” Mr Robb said.
Further information on The National Rental Affordability Scheme can be obtained through the Scheme’s Hotline on 1800 334 505 or at nras@fahcsia.gov.au. Alternatively you can go to the Scheme’s website on www.fahcsia.gov.au/housing.
Media contact: Skye Buttenshaw, 9557 4644