Prime Minister Creates Rental Affordability Scheme Investment Opportunity For Nt

Prime Minister Gillard Announces National Rental Affordability Scheme Investment Opportunity Extends To Northern Territory.

The Hon. Julia Gillard, Prime Minister, today announced the building of 1,200
new homes in Darwin.

Ethan Affordable Housing has been awarded financial incentives under the
National Rental Affordability Scheme (NRAS) that will attract $420,000,000
worth of housing investment into the Northern Territory.

Ethan has received strong interest from superannuation funds and institutions
in investing in the NRAS across the country.

"By working in partnership we have been able to create an outcome for the
institutions that can see a passive investment yield above 6% plus capital
growth, a result that should provide a healthy double digit return" said Mr
Ashley Fenn, CEO Ethan Affordable Housing.

"A majority of the investors see value in the asset class as it provides a
diversified secured portfolio, regular income, strong capital growth and Tax
free Government incentives."

Ethan have also recently received Australian Tax Office advice that the NRAS
model allows for the NRAS incentives to flow through the investment structure
whilst maintaining their Tax Free status

Mr Fenn said, "A positive response has been received from a number of retail
funds operating in the socially responsible investment sector, as the
investment ticks the Ethical boxes".

Ethan Affordable Housing is a national not for profit housing company that
facilitates the provision of safe and affordable accommodation by bringing
together local and national developers, builders, investors and property
specialists to deliver affordable housing for key workers in the community.

Ethan Affordable Housing have applied for over 10,000 NRAS incentives to
provide housing in four States and Territories, providing a wide spread of
housing in Metropolitan, Regional and remote areas.

Ethan's NRAS application is the first to be approved in the Northern Territory
under the housing program. The Federal Government initiative encourages
the construction of new dwellings that will be made available for Key workers
to rent with a 20% discount. Eligible tenants include Police, Nurses and other
medium income workers who can earn over $100,000 and still receive the
discounted rent

Mr Fenn said," This announcement is a great win for the NT residence that
are struggling to keep up with the increasing rental prices" further he stated "It
is expected that the total rent saved in the Territory over the next ten years
will be in excess of $50,000,000 dollars."

Information regarding the NRAS can be found at
http://www.fahcsia.gov.au/sa/housing/progserv/affordability/nras/Pages/default.aspx

Further information can be obtained from Ethan Affordable Housing Director
Ashley Fenn on 0404 08 0000 / [email protected] or
www.ethanhousing.com.au

Media Liaison: Darryn Keneally 0410 344 761


FACT SHEET

Ethan Affordable Housing is a Not for Profit organisation that provides
affordable housing solutions to low and medium income families, identifying
and providing solution-based outcomes to the community.

Uniquely, Ethan Affordable Housing combines business and private sector
investment with government assistance to create sustainable affordable
housing solutions.

Ethan Affordable Housing is participating in the joint Federal and State /
Territory Government initiative to build and rent homes under the National
Rental Affordability Scheme. Ethan Affordable Housing has received 2,518
incentives under the program.

SOURCE: Ethan Affordable Housing