$13.7M Panorama apartments offering cheaper rent for South Australians

Tackling the housing crisis head-on, Believe Housing Australia has unveiled a new $13.7 million, four-level apartment building at Panorama, offering residents rental accommodation significantly below the market rate.

The project has been supported through a significant $9.3 million investment by the Federal Government.

Demonstrating the strong demand, hundreds of applications were received for the 18 high-quality, affordable two-bedroom apartments on Ontario Avenue, which cater to a diverse community of singles, couples, and families.

Five Specialist Disability Accommodation (SDA) properties for individuals with disability also form part of the new complex.

Anglicare Australia’s Rental Affordability Snapshot in 2024 revealed only one per cent of advertised rentals were affordable to South Australians on low incomes, leaving many facing the very real risk of homelessness.

Believe Housing Australia Executive General Manager, Stacey Northover, said the new Panorama complex provided a welcoming, inclusive, and supportive living environment at a time where there was an urgent need for affordable homes.

“Residents who have moved into the complex are on low to moderate incomes and can’t afford to rent or buy in the private housing market. They also may not be eligible for social housing,” Stacey said.

“Weekly rent for the apartments ranges from $345 to $360 per week, with ground floor accommodation being the most affordable. This is 25 per cent below the private rental market rate.

“Being so close to essential services and facilities, it is delivering a welcome place to call home for the 33 new residents, many of whom have been let down by the housing market.”

25-year-old Ali Habib, a PhD medical science student, moved into one of the apartments with his partner Parya, also studying at university, and said living at Panorama was ‘life-changing.’

“We were both living separately with our parents while looking at private rental properties and every time we were priced out of the market. For a basic decades-old unit, the weekly rent was over $500,” he said.

“We were even discovering properties that were only offering one room for $400 per week.

“Now we can work towards our career goals and save to purchase our first home. The cheaper rent enables us to put away extra money every fortnight.”

The development is the latest to be completed by Believe Housing Australia, the housing arm of AnglicareSA, and was made possible by Federal Government funding through the Housing Australia Future Fund Facility (HAFFF).

Attending the opening of the new homes, Federal Minister for Housing and Homelessness Clare O’Neil reinforced the importance of the work being undertaken in the community housing sector.

“We know the long-term fix to housing is to build more homes – more social and affordable homes, and more market housing,” the minister said.

“That is why we are starting the largest house build in Australian history. We have an ambitious target for 1.2 million new homes, and we are delivering 55,000 social and affordable rental homes. We’re directly investing in building new homes – just like we used to.”

South Australian Minister for Housing and Urban Development Nick Champion said the development would help address the supply crisis in South Australia.

“This housing development will change people’s lives,” Minister Chapman said.

“Housing security is a springboard for future success, and this development will support vulnerable South Australians.

“This project demonstrates the value of HAFFF and what can be achieved when Governments and Community Housing Providers work together to help people.”

Believe Housing Australia Chair Tim Sarah said the organisation was committed to investing more than $100 million in the period to 2032 to further boost social and affordable housing.

“We have a further 29 homes proposed for Mitchell Park and Kilburn for women over the age of 55 who are the fastest growing cohort of homelessness in our country,” Mr Sarah says.

“The delivery of housing projects like these are absolutely vital for South Australians who are in need of safe, stable and affordable housing”.

Panorama development key features include:

• 18 two-bedroom modern apartments
• Five specialist disability accommodation apartments with stepless entry, balconies, and showers
• 6-star energy rating, LED rating, and all-electric water-saving fittings
• Secure building access, open-plan living, and communal gardens
• High-quality design with modern interiors, quality fittings, and heating and cooling
• Car parking and lift access
• Close to public transport and community services
• Only a 20 minute-drive to Adelaide’s CBD