While rental properties in Queensland have seen rising prices in several areas, there is relief for residents of Scarborough.
A recent announcement from the government of Queensland reveals that 72 apartments are now renting at 25 per cent below the market rate in the seaside city.
As part of a broad effort from the state's Queensland Affordable Housing Consortium (QAHC) and the Australian Government’s National Rental Affordability Scheme (NRAS), the 'Anglesey' complex - 32 studios and 40 two-bedroom units - was opened on Friday (July 20).
"This government is committed to addressing housing affordability and will deliver a coordinated approach to tackling the issue," said minister for housing and public works Bruce Flegg.
"Queensland has 11,284 approved NRAS incentives, which is the largest share of all the states and territories," he said.
The annual financial incentives encourage investors to purchase new housing with the condition that it is rented at no more than 80 per cent of the market rate.
"Since the scheme started, 2,472 affordable rental properties have been delivered in Queensland," said Dr Flegg.
Scarborough is located roughly 30 kilometres north of Brisbane and is a residential suburb of the Moreton Bay Region.
