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Real Estate Business Awards 2021

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

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1/10
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top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Changes to public housing management on the horizon

By Staff Reporter
19 November 2014 | 1 minute read

The NSW government has suggested handing over the management of the 150,000 public housing properties to the community and private sector as a means of relieving a $330 million funding shortfall.

A discussion paper entitled Social Housing in NSW issued by Minister for Family and Community Services Gabriel Upton stated that “innovative investment models such as social housing bonds, outcome-based funding models (for assets and tenancies), public-private partnerships and joint ventures for delivery of new supply could provide opportunities to more efficiently deliver housing assistance”.

The paper is in response to warnings that NSW cannot meet the cost of maintaining its run-down public housing stock at a time when a decreasing amount of public housing tenants are paying market rents.

Ms Upton said the system had "failed to keep pace with increased demand and changing demographics" and "fails tenants" by contributing to social housing dependency.

It has been estimated that the shortfall in annual funding in 2012/2013 came to $330 million.

The government believes that while some people will need social housing for life - due to ill-health, age or circumstance - others should be encouraged to "transition out" of the system and into the private rental market.

With most of the social housing system presently state-owned and operated, the paper flagged the potential for partnerships with the private sector and non-profit groups, such as community housing providers.

The government also said the social housing system should be made fairer by prioritising those most in need, and addressing anti-social and illegal behaviour which can make other tenants feel unsafe.

The paper is open for comment until 20 February next year. The government will respond in July 2015.

Changes to public housing management on the horizon
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Listen to other installment of the Real Estate Business Podcast
top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
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.