The National Rental Affordability Scheme (NRAS) is an Australian Government initiative and is financially supported by the Queensland Government. The scheme aims to stimulate the construction of 50,000 affordable, high quality rental dwellings across Australia.
Established in July 2008, the scheme provides financial incentives for investors to purchase new affordable housing that must be rented at a minimum of 20% below the market valuation. Up to 40,000 will be supported nationally to June 2014, with a further 10,000 dwellings to be supported in 2015-16. On 28 March 2013, the Australian Government announced two new funding rounds for NRAS: A Shovel Ready Round for projects to be substantially completed by 30 June 2014 and tenanted by December 2014, opened on 18 April and closed on 22 May 2013.
Round 5, for projects to be delivered in 2015-16, opened on 7 May and will close on 6 August 2013. For information about Queensland's participation in round 5, see our Round 5 page.
NRAS - Round 5 For more detailed information about the Scheme, including regulations and compliance, and program guidelines visit the Australian Government's Department of Families, Housing, Community Services and Indigenous Affairs National Rental Affordability Scheme website.