Community Housing Providers on the Central Coast will receive relief from rent rises in the private market with a $7.5M funding boost from the State government to keep properties available for social housing tenants.
The investment will be used to retain rental properties that are home to families in social housing.
Deputy Premier and Minister for Regional NSW, Paul Toole, said the assistance will be welcomed in the regions and help community housing providers continue to provide stable accommodation for those who need it the most.
“This boost will ensure tenants in 500 properties across regional and rural NSW will be able to remain in their homes,” Toole said.
“This will help keep communities together and make sure vulnerable people have a roof over their heads.”
Minister for Families and Communities and Minister for Disability Services, Natasha Maclaren-Jones, said the boost would ensure quality social housing continues to be available for those in need.
“We know the pandemic, floods and bushfires brought on cost of living pressures,” she said.
“That’s why this money is important; it makes a real difference and means that social housing tenants can continue to be accommodated in a challenging rental market.
“These additional funds will assist providers facing increases in rent and rental property shortages in the private market.”
The funding boost is in addition to the $86M that community housing providers receive each year to fund leasing subsidies.
Ian Lynch, CEO of the Coast’s only locally based Tier 1 community housing provider, Pacific Link Housing, said the region would benefit from the funding.
“We have been advocating for additional funding assistance, to enable us to continue to rent properties from the private market, that create homes for families in social housing settings,” he said.
“The Central Coast has seen one of the most substantial year on year rental price rises in the country, let alone the state, creating an extremely difficult financial equation for us to continue to provide private rental properties for those eligible for social housing, as the gap was simply too large to sustain.
“Our portion of the funding was received prior to June 30 and will ensure that we will be able to continue the main quota of 315 properties for social housing tenants sourced from the private market.
“The funding is crucial for Pacific Link Housing to remain nimble and respond to certain situations in the community, such as the scenario last year which saw 40+ elderly tenants living in premises previously owned by the Presbyterian Church properties being able to remain in place, at subsidised rental rates.”
Terry Collins