Rainforest Creek Social Housing to Home Ownership

25 Oct 2016, by Tracey Brown in Affordable Housing, Blog

Transitioning from Social Housing to Home Ownership without Moving House

Rainforest Creek in GoonellabahA new housing model is in place at Rainforest Creek in Goonellabah . The nine-unit development, built by North Coast Community Housing (NCCH), offers the possibility for social housing tenants to transition to affordable rental and home ownership without having to move house.

The two-bedroom townhouses were built by North Coast Community Housing without any government funding. Selling four of the units will allow three others to be offered as affordable housing rentals for 80% of market rates and two, including a fully wheelchair accessible unit, will go to community housing tenants.

With over 3,200 people on the waiting list in the Northern Rivers alone, community housing is already in huge demand with no end in sight. After waiting years for a home, tenants have the stability to improve their circumstances and increase their income. However, if they start making too much money, they will no longer qualify for community housing and will be forced to move either into affordable housing or a private rental.

In the mixed tenure community NCCH has developed, tenants could simply start paying affordable rent rather than having to move out. If at some stage they are in a position to buy a home, they could purchase the unit they have been living in. This seamless transition encourages rather than penalises people for improving their lives and gives stability to the community they live in.

There are still units for sale for $295,000 – for more information or to arrange an inspection, click here to go to the ad.

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