Sunday 3 August 2014

The Abbott Code Explained - Part One


The Abbott Code


Effective Rent Assistance
Rent Assistance should be reviewed to determine appropriate levels of assistance and the best mechanism for adjusting assistance levels over time. Rent Assistance for parents should recognise their role in supporting young people beyond school to independence.
Consideration could be given to moving away from the current system of income based rents towards the use of Rent Assistance as the preferred rent subsidy scheme across both private and public tenures.

Decoded Message

It is our intention to allow the states to charge full market rent for public/social housing stock and, the only welfare subsidy available will be a maximum of $61.50 per week off that market rent for age pensioners, independent retirees, disability support pensioners without children, unemployed singles/couples and low income childless couples or between $73.78-$83.65 a week off full market rent if you have dependent children/recent school leavers who have not yet started work.

BACKGROUND

Rents for the March Quarter 2014 according to Housing NSW:


NSW North Coast

Tweed Valley 2-3 bedroom flat/unit/house - median rent* $290-$380 per week
Richmond Valley Coast 2 bedroom flat/unit/house - median rent $300-$428
Richmond Valley Hinterland 2-3 bedroom flat/unit/house - median rent $215-$300
Clarence Valley 2-3 bedroom flat/unit/house - median rent $225-$290
Coffs Harbour 2-3 bedroom flat/unit/house - median rent $260-$365

Some metropolitan/local government areas in New South Wales

Port Stephens 1-3 bedroom flat/unit/house - median rent $200-$350
Newcastle 1-3 bedroom flat/unit/house - median rent $220-$420 
Woolongong 1-3 bedroom flat/unit/house - median rent $230-$430
Greater Sydney 1-3 bedroom flat/unit/house - median rent $450-$500 including:
Parramatta 1-3 bedroom flat/unit/house - median rent $333-$480
Liverpool 1-3 bedroom flat/unit/house - median rent $260-$440
Campbelltown 1-3 bedroom flat/unit/house - median rent $298-$380
Blacktown 1-3 bedroom flat/unit/house - median rent $250-$400
Auburn 1-3 bedroom flat/unit/house - median rent $410-$520
Bankstown 1-3 bedroom flat/unit/house - median rent $260$480
Blue Mountains 1-3 bedroom flat/unit/house - median rent $240-$380.

* Median Rent is the weekly rent amount that falls exactly in the middle of the full range of rents charged.


UPDATE

Northern Rivers Echo 4 August 2013:




Table derived from Australian Property Monitors 2014 June Quarter data

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