Bond loan assistance has been increased to help workers meet upfront costs as they move in to one of the Department of Housing’s newest Pilbara projects.
Housing Minister Bill Marmion said eligible tenants for Port Hedland’s Osprey Village could receive up to $4,500.
“Bonds are a broad challenge across the private rental market but particularly so in places such as Port Hedland,” Mr Marmion said.
“Osprey is a quality development and we want to help people relocate there more quickly.”
The bond loan facility allows applicants to reduce their upfront costs, in exchange for a minimum $40 per week repayment.
Bond loan eligibility will be restricted to households earning up to $150,000 for one and two-bedroom properties, and up to $180,000 for three-bedroom properties.\
Higher income applicants (incomes between $180,000 and $220,000) will not qualify for bond loans, but are being allowed to pay their bond progressively over the first month of occupancy.
“The recent Osprey open day attracted more than 1,000 people,” Mr Marmion said.
“I am pleased to note feedback from tour participants showed they were impressed with the village’s quality affordable units, central parkland, maintenance and sense of community.”
Projects like Osprey are a vital part of the Government’s Affordable Housing Strategy 2020, which has provided more than 14,000 affordable housing opportunities since it began in 2011.
- The 293-unit Osprey Village opened in February
- 91 tenancies have already been filled
- Up to $4,500 assistance available per household
- Osprey Village rents 30% below market rates