NRAS Incentive Market Indexes - 2014-2015 NRAS Year

The ABS has released the December 2013 CPI report which contains the market rental index amounts for NRAS.

The CPI figures for QLD and NSW are:

* Sydney: 3.4%

* Brisbane: 2.1%

 Weighted Capital City Average: 3.0%

 

Therefore the following is calculated to apply for NRAS year 2014-2015:

 

National Rental Incentive (NRI) increases by 3.0% to $10,660

State Govt Component: $2,665 (was $2,587)

Fed Govt Component: $7,995 (was $7,763)

 

The market rental index for QLD is 2.1%, which means the most any rents can increase for QLD NRAS dwellings is 2.1%

The market rental index for NSW is 3.4%, which means the most any rents can increase for NSW NRAS dwellings is 3.4%


*Please note that this is the interpretation of the figures according to Aspire Housing Group and should not be relied upon until confirmed by the Government. The actual figures once confirmed by the Commonwealth Government can be found at http://www.dss.gov.au/our-responsibilities/housing-support/programs-services/national-rental-affordability-scheme/national-rental-affordability-scheme-nras-incentive-indexation


** Please also note that the tenant eligibility income thresholds are calculated based on the March to March quarter and as such are not available until the March CPI report is released.

Author: Luke Forman