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Australia set to lose thousands of affordable homes in 2023

More renters are at risk of plunging into housing stress in 2023 as they face steep rent rises when thousands of properties are wiped from an affordable housing scheme.

According to the latest federal government figures, this year more than 6,600 affordable homes will be lost under the scrapped National Rental Affordability Scheme (NRAS).

The NRAS provides affordable rentals to people earning low and middle incomes.

More than 36,000 affordable rentals will have exited the scheme by the time it ends in 2026.

National spokesperson for Everybody’s Home, Maiy Azize, said the losses come on top of Australia’s massive shortfall in social and affordable housing.

“Australia already has a social housing shortfall of 500,000 homes, and the rental market has never been tougher,” she said.

“These figures show that we’re losing even more affordable rentals at a time when Australians can least afford it.

“With thousands of affordable rentals set to disappear, we need the federal government to step up and take action.

“We’re calling on them to build 25,000 new social homes each year to help end this crisis. More social housing would lift people out of rental stress, and free up more cheap rentals for people who need them.

“Many Australian suburbs have hit record high rents and thousands of tenants are in rental stress. The government can start changing that from this year if it’s ambitious enough.”

This year, Queensland will be hardest hit by the phasing out of the scheme, losing 2,499 affordable NRAS houses.

Victoria will lose 1,356 allocations, while Western Australia will see the loss of 1,110. In South Australia, 806 will be removed and NSW will lose 605.

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