Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

Demand for public housing outstripping supply

By Staff Reporter
08 October 2014 | 1 minute read

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.

Advertisement
Advertisement

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
HouseGraph
lawyersweekly logo

ABOUT THE AUTHOR


Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Warren
49.59%
Mullumbimby
49.48%
Waverton
49.18%
Blairgowrie
48.97%
Porepunkah
48.95%
Streaky Bay
48.89%
Bruce
48.67%
Koolewong
48.46%
Failford
48.4%
Victory Heights
48.22%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.