Following on from the story above where rental accommodation is in demand for older Australians, the Victorian Government has contributed $10 million to 100 new affordable rental homes in Moonee Ponds.
The Government has partnered with Common Equity Housing and Affordable Rentals Victoria, targeting women over 55 years of age.
Their new Rentals Development Program will see 540 properties leased from the private sector in the short-term. A further 2200 homes are planned under their $1 billion Social Housing Growth Fund.
By comparison, approximately 3000 retirement village homes were built across Australia last year.
An example of new entrants in the seniors accommodation market?