NRAS is a new opportunity for government, debt and equity investors, property developers and not for profit housing organisations to work together to increase the supply of affordable private rental housing and create a new ongoing asset class in Australia.

It recognises that governments have a role in creating and encouraging new markets. The Australian Government has made a 10 year financial commitment to NRAS. NRAS has bipartisan support.

The United States Government successfully implemented a similar program in the 1980s, resulting in over 1.5 million homes being built and US$5 billion in tax credits being paid annually.

NRAS is a new investment program for Australia, and based on the US experience, will take a number of years to fully develop. The Australian Government is committed to working with State and Territory governments, the business sector and not for profit housing organisations to ensure the Scheme’s success.

NRAS is well underway with over 22,000 Incentives allocated to investors to build affordable homes across Australia.

The design and quality of NRAS dwellings compare favourably with any private non-NRAS dwelling. Typically, they are indistinguishable from other ‘middle-market’ dwellings.

Rigorous selection criteria are applied by the Australian Government to the location, design and amenity of NRAS dwellings, all of which must also comply with State, Territory and Local Government planning and building codes and requirements.