Future NRAS allocations a budget casualty

We first wrote about NRAS and management rights here.

Since then there have been four separate rounds of NRAS approvals for projects across Australia. That has seen approvals for approximately 38,000 NRAS dwellings of which about 20,000 have been delivered to date.

Round five had seen applications for more than 80,000 NRAS dwellings from around 900 applicants. As part of the budget this week, round five was deferred. A full Q & A from the government about that is here. The round five applications will not be approved anytime soon – which may prejudice the completion of quite a few development projects.

Existing NRAS approvals continue as they were.

Our thanks to Steve Koman of Affordable Management Corporation for the update.

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