Cut-price homes for sale at Mur’bah
THE success of an $8.36 million Murwillumbah affordable housing project may see it replicated at Tweed Heads.
The concept village at Hundred Hills Estate, comprises 52 properties available for purchase or rent at 25% less than market rates.
It is a combined project of the Queensland-based charity Horizon Housing, Tweed Shire Council and the Federal Government's Building Better Regional Cities program.
The project was instigated after the Tweed Shire was identified by the Federal Government in 2011 as having an affordable housing shortage.
The estate off Riveroak Dr offers three ways for low income earners to either buy or rent at a reduced cost.
The options include a deferred mortgage where Horizon and Bank Australia have partnered to allow home buyers to defer 25 per cent of their mortgage until they sell their property.
Horizon Housing has also worked with the Hundred Hills developer Stockland, to deliver houses below the average market value for the area - between $294,750 to $331,127 - to eligible buyers with their own finance.
Twenty two of the houses are also being rented out to eligible candidates at 25% less than market rental rates.
Horizon Housing CEO, Jason Cubit, said house sales in the first two stages had sold out with the third and final stage about to be released and attracting "exceptional" interest from potential buyers.
Mr Cubit opened the doors for inspection of one of the homes that will be rented out on Wednesday.
Mr Cubit said the tenants would be well looked after.
"We are a charity and we are about providing safe, secure long-term rental properties," Mr Cubit said.
He said Horizon was keen to do more in the region and there were a couple of opportunities the NSW Government was offering on land releases at Tweed Heads that it was pursuing.
"We've put submissions in on those already and we're waiting to hear," he said.
"There's massive demand here and there's high need for more affordable housing."
Cr Milne said with the Tweed having one of the highest rates of homelessness in NSW, the demand for affordable housing was huge.
"People just end up on the streets, under bridges and in dangerous situations," Cr Milne said.
"And unfortunately the people who are the most vulnerable are the single mums, the young people... so this is a great project.
"We need a lot more obviously."
Inquiries about sales and rentals should be directed to Stocklands with applicants having to meet eligibility criteria.
There's about a 10 year waiting list for social housing in the Tweed Shire and a waiting list of over 3,100 people, according to North Coast Community Housing.