Ensure you never miss an issue of the
real estate business bulletin
Demand for public housing outstripping supply

Demand for public housing outstripping supply

by Staff Reporter 0 comments

Demand for public housing continues to grow in Canberra while the overall number of dwellings has decreased, new figures have shown.

The Community Services Directorate's annual report showed the number of households on Housing ACT's waiting list increased by 2.8 per cent to 2,293 at June 30 this year.

However, the total number of public housing homes declined by 72, when compared to last year's figure.

The report said demand "continues to exceed supply", and attributed much of the pressure on the public housing system to "longer-term issues associated with private rental affordability".

The report also showed a two per cent increase in spending repairs, maintenance and upgrade works, up from $38.4 million in 2012/2013 to $39.2 million in 2013/2014.

Almost $1.3 million was owed by public housing tenants at the close of the last financial year, down slightly by about $118,000 from the previous year, data from Housing ACT showed.

The report said Housing ACT negotiated repayment agreements with tenants to ensure they were not pushed into housing stress.

"Under these agreements a tenant cannot pay more than 30 per cent of the gross weekly household income to meet rent and rental arrears," the report said.

"It can therefore take some time for a debt to be fully paid and the overall debt level to reduce."

The report showed 60 dwellings were acquired in the last financial year, 49 of which were built and 11 of which were purchased.

That was a 56 per cent decrease from the year prior, in which 127 homes were acquired.

 

Demand for public housing outstripping supply
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?