Hundreds more South Australians will be helped off the rental merry-go-round and into home ownership in the latest expansion of the state government’s successful Rent to Own scheme which is extending into dozens of new suburbs across Adelaide.
The next stage of Rent to Own will deliver 326 new homes across 38 suburbs, providing greater choice for individuals and families seeking an affordable pathway into home ownership.
Rent To Own helps long-term renters save to purchase their homes while renting.
They pay an affordable 75% of market rent, then purchase the homes after two years at a price locked in when they sign the lease, protecting them from market increases. The money saved while paying a reduced rent helps the tenant purchaser to save towards buying their home.
The state government launched Rent To Own in May last year, with an initial offering of 125 new Rent To Own homes located across nine suburbs in metropolitan Adelaide.
Combined, the two tranches will now deliver a total of 451 Rent to Own homes across 47 suburbs.
Dozens of South Australians who were long term renters have secured a pathway into home ownership, with many already having moved into their home.
More than 50 applicants from the first 125 homes are first homebuyers, while 6 applicants chosen were on the Housing Trust waiting list.
The SA Housing Trust is now getting to work on delivering the next 326 Rent To Own homes, part of a $1.3 billion commitment to deliver 2,000 Rent To Own homes over eight years, announced by the state government ahead of the state election.
Tenders to deliver the 326 new homes homes have been released on the State Government tender site SA Tenders and Contracts to the Housing Trust’s approved panel of builders.
Construction is expected to commence progressively from late this year, with the homes scheduled to be completed by December 2027.
This program is supported by the Australian Government.
Rent to Own suburb locations
- Beverley
- Blair Athol
- Blakeview
- Brahma Lodge
- Christie Downs
- Christies Beach
- Davoren Park
- Dernancourt
- Dover Gardens
- Dry Creek
- Edwardstown
- Elizabeth
- Elizabeth Downs
- Elizabeth East
- Elizabeth Park
- Elizabeth South
- Elizabeth West
- Evanston
- Gawler West
- Glandore
- Grange
- Gulfview Heights
- Hackham West
- Hectorville
- Hillcrest
- Ingle Farm
- Kilkenny
- Kurralta Park
- Morphett Vale
- Munno Para
- Noarlunga Downs
- Northfield
- O'Sullivan Beach
- Para Hills West
- Para Vista
- Parafield Gardens
- Paralowie
- Pooraka
- Salisbury
- Salisbury East
- Salisbury North
- Seacombe Gardens
- Seaford
- Smithfield Plains
- Underdale
- Woodville Gardens
- Woodville Park