Affordable housing is needed because as housing costs in Australia continue to rise at a faster rate than the average income rises, many low-to-moderate income earners are being left behind. Unable to keep up with housing costs, these people are inevitably forced into housing stress.
Affordable housing is targeted for working people earning a low-to-moderate income and is priced so that these households can afford other living costs including food, utility bills, health care and transport.
EchoRealty manages properties on behalf of government, developers and property investors. To view our list of partners please click here.
Affordable housing is not the same as social housing. Properties delivered as affordable housing are open to a broader range of household incomes than social housing, so tenants can earn more income and still be eligible.
Rent is calculated differently and there are different tenancy arrangements. Social housing properties are only offered to applicants on the NSW Housing Register, whereas affordable housing is open to all applicants and does not require a waiting list.