Australian Property Updates

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More affordable rent in Moorabbin

A new Moorabbin, Victoria residential development has been purpose-built to provide cheap accommodation. The project will deliver much-needed affordable housing in Kingston’s tight rental market.

Appropriate tenants are being sought for the 75-apartmetn development, in South Road, near the Nepean Highway, that should be ready next month. The one- and two-bedroom units all have their own private open space.

The $23.5 million project is jointly funded by the Port Phillip Housing Association and the Federal Government. To be eligible, prospective tenants must be aged over 18 and low to moderate incomes (as wages, Centrelink payments or some other form of fixed income), who can live independently.

Rent will be based on a percentage of household income or a reduce market rent. The association’s operations manager, Tanya Armstrong, said it was evident there was a shortage of social housing Kingston. “Many of the tenants will already be living or working in the local community,” she said.