I read last week that the fifth round of NRAS (National Rental Affordability Scheme) incentives will be released on the 7th of May ’13.
There are pro’s and con’s to the scheme with many clients concerned it’s social housing being put onto the private investor as opposed to the government taking full ownership. This is a difficult one to argue and I think only time will tell. There is one common thing we are seeing with NRAS properties though, and that is the developers / promoters are selling them at a premium. I can say this because we often find the properties don’t stack up when it comes to the valuation, with valuers saying the property is being sold for more than it costs to construct. Maybe keep this in mind when you’re negotiating on your NRAS property.