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Affordable rental housing

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Housing for all

Everyone deserves to have a safe and affordable place to live. Our Housing Affordability and Diversity Policy recognises the need for all forms of housing and aims to provide homes for all household budgets.

The concept of housing affordability is much broader and different to Affordable Rental Housing. We’re focused on:

  • delivering housing that is more affordable and maximises opportunities for home ownership, or rent, that reduces housing stress
  • delivering Affordable Rental Housing that is managed, if not owned, by registered Community Housing Providers for very low to moderate income households
  • we also deliver Social Housing in partnership with the Land and Housing Corporation, for those in greatest need.

 

Housing affordability versus Affordable housing. What’s the difference?

Housing affordability

Describes the overall relationship between expenditure on housing (house price, mortgage payment or rent) and household income.

Households are often said to be in ‘housing stress’ if they are paying more than 30 per cent of their gross income on mortgage payments or rent.

 

Affordable rental housing

Is specifically for households that have very low, low or moderate incomes. It provides rental housing that aims to ensure tenants pay less than 30 per cent of household income on rent.

Landcom uses the same definition for Affordable Housing as contained in the Environmental Planning and Assessment Act.

We also require Affordable Housing to be in the ownership and/or management of a registered Community Housing Provider.

To assist partnering with the Community Housing Providers we have set up an

Affordable Housing Prequalification Scheme. This scheme is available to anyone wanting to locate registered Community Housing Providers across NSW.  To find out more and access the scheme click here.

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Our commitment

We’re committed to our ensuring 5 to 10% of the new homes we create, across all of our projects, are Affordable Rental Housing.

Examples of Landcom enabled Affordable Housing

BunyaBunya, at The Ponds included a partnership between Bridge Housing and Clarendon Homes to produce.

Affordable town houses managed by Bridge Housing Community Housing Providers.

 

 

 

 

ThorntonHart’s Landing completed construction in 2018 as a partnership between Evolve Housing and Payce. It is part of the Thornton project adjacent to Penrith train station.

The complex is a combination of 138 social and affordable homes and 138 private market apartments.

Learn more

 

  

 

 

 

Housing spectrum and affordability

Regardless of your income group, it’s important that people have housing that’s within their budget. Housing affordability is about ensuring that the cost of housing is no more than 30% of a household’s gross income, which means there’s enough money for other things such as food, travel, and utilities.

The Housing Spectrum Diagram below shows how different housing is matched to household income groups – very low, low, moderate and higher.

housing spectrum diagram