An affordable housing program by First State Super is leasing 61 properties at up to 20 per cent off market rent at Epping for workers in frontline services, including teachers.
Federation’s 2017 Annual Conference noted there was a lack of supply of affordable housing. The conference recognised that housing affordability was a growing concern and “rents in many areas are increasing at twice the rate of inflation”.
“Australia’s current private rental market is not meeting the needs of all low to medium income households. These households may experience significant trouble securing affordable and appropriate housing,” Annual Conference 2017’s Position Statement on Affordable Housing for Teachers declared.
Federation’s position is that teachers should be able to rent or purchase housing that is suitable to their needs, that is secure and priced so they can meet other living expenses.
In discussions with First State Super senior management, Federation proposed that the organisation pursue investment policies aimed at developing a housing bond market to facilitate expansion of affordable housing to key workers, including teachers.
Eligibility criteria for the Epping properties includes that “applicants must not own property that can solve their immediate housing need”. Other people who work in essential industries such as aged care, health, emergency services, law enforcement and childcare may apply.
The one, two and three-bedroom apartments at 1 Cliff Road, Epping, are being marketed by Echo Realty.
First State Super is also involved in a housing affordability project at Miranda, where 115 units are being built.
— Kerri Carr