Providing Affordable Housing To More Victorians

07 June 2023

More Victorians are benefiting from affordable rents and lower bills thanks to an Andrews Labor Government affordable rental initiative which offers renters modern, accessible, energy efficient homes with capped rent and secure leases.

Renters have moved into brand new properties in Kensington as part of the Australian-first rental scheme that is tackling housing affordability and making 2,400 homes available across the state.

Minister for Housing Colin Brooks recently opened the Kensington building – one of the first new Homes Victoria affordable housing developments delivered under the landmark $5.3 billion Big Housing Build.

Under the Affordable Housing Rental Scheme homes are backed by the security of government ownership, providing eligible households with a modern, energy efficient and secure affordable rental property for at least three years.

The 34 Kensington homes began welcoming renters in April and more than 150 affordable properties in Ascot Vale and Ashburton will be available to renters over the coming months. The program will also roll out in Victorian regional centres, giving regional renters access to more affordable rental options.

Under the scheme, rents in metropolitan Melbourne are set at least 10 per cent below the area’s median market rent, with the added protection of a cap set at 30 per cent of the median income.

The program will provide housing for essential workers – including healthcare and disability workers – and ensure more people can access an affordable rental within their community and close to shops, transport and employment.

All homes are built to modern and environmentally efficient design standards, including a minimum 6-star NatHERS energy rating, ensuring homes are cheaper to heat and cool and more comfortable year-round.

The homes are managed by the Victorian Affordable Rentals Consortium which brings specialised expertise, technology and affordable housing knowledge to improve the renting experience.

The Big Housing Build is delivering more than 12,000 new homes, creating an average of 10,000 jobs per year over the four years of the program.

Quotes attributable to Minister for Housing Colin Brooks

“Kensington residents are the first of many thousands of eligible Victorians to access safe and secure housing as part of our afford housing scheme, and it’s wonderful to see them settling in and enjoying their new homes.”

“It’s not an exaggeration to say this scheme is life-changing – affordable housing residents in Kensington have told me they can now afford to use their heating, can buy more nutritious food or have started saving money for the first time.”

“These modern and energy-efficient homes start affordable and stay affordable giving eligible Victorians real rent security and helping them to feel safe, settled and happy.”

Reviewed 07 June 2023

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