Discounted but not ‘affordable’: NSW policy to build cheaper rental apartments a boon for developers

Developers flock to build ‘affordable’ housing – but are poised to reap benefits while tenants could pay 50% of post-tax income in rentGet our breaking news email, free app or daily news podcastA small block of units on Clovelly Road built in 2021 was granted extra floor space so the developer could add five affordable units, taking the total development to 13. The units, three minutes’ walk from the beach, with parking and a bus stop outside, are in a highly desirable spot.But “affordable” they are not. Continue reading...