Coast2Bay Housing Group have secured 121 established homes to retain for community housing via a program funded by the State Government. The funding was agreed in May 2023 and over the past year the team have been sourcing appropriate properties to purchase.
The purchased homes were typically under the National Rental Affordability Scheme (NRAS), which has progressively ended between 2022-2025. Most homes were destined to be sold or have their rents return to market rate at the close of the NRAS scheme. Many of the existing tenants would not have been able to afford the dramatic increase in rent and faced having to move.
Coast2Bay worked with the existing tenants to ensure they could stay in their current home. Close to two-thirds of the tenants were eligible for social housing and a further third qualify for affordable housing and can stay in their home at a discounted rent whilst they remain eligible.
Most of the homes purchased are in the Sunshine Coast, Moreton Bay and Gympie, however a small number of properties have also been acquired in other regions, including Brisbane and Noosa. 18 properties were vacant at purchase, which has provided new housing solutions for those on the social housing register of need.
One of the existing tenants, Avril, had been living in her complex for over seven years. She is the sole carer for her 93-year-old mother, who lives in an aged care home close by.
Avril said “Staying here means I can keep using the complex’s gym – saving costs, meet my friends for coffee and chats, go to aqua classes and remain close to my and mum’s preferred health professionals,’’ she said.
“Best of all, I’m able to visit Mum anytime. It’s been a lifesaver. I can’t imagine the alternative. I’m so grateful to Coast2Bay Housing’s staff for their time and patience, and for enabling me to stay in the home I love.’’
Coast2Bay’s CEO Andrew Elvin commented “The successful outcome of the program has enabled us to retain safe, secure, affordable housing for people in need including seniors and people living with disability. Our expert Buyer’s Agent Dave Rea, from Purpose Real Estate, led the search and negotiation for these homes. We’re now working to acquire further properties throughout Queensland under new funding. If you know of any properties exiting NRAS and looking to sell, please get in touch and help us provide more community housing options for those in need.”
