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Lack of social and affordable housing costs tens of millions of dollars every year in employment, health care, and justice services costs, according to recent research.
In a study conducted by the Swinburne University of Technology, researchers found that if current levels of underinvestment in social and affordable housing continue, the social and economic impact of this underinvestment in most sections of the S4 region is expected to surpass $30 million per year.
To prevent this from happening, the Community Housing Industry Association (CHIA) has aired an urgent appeal for all parties to lay down a clear action plan that will prioritise the provision of safe, secure, and affordable housing for Australians who are unable to jump onto the home ownership ladder and are struggling to pay for rapidly rising rents or energy bills due to poorly insulated homes.
CHIA chief executive Wendy Hayhurst said that nearly half of renters still experience housing stress despite receiving help from the Commonwealth Rent Assistance (CRA).
“Over the last year, rents and house prices have surged ahead of wages, and around one-third of people seeking help from homelessness services can’t get their immediate accommodation needs met, up by 29 per cent from 2016,” Ms Hayhurst explained.
Speaking on behalf of the group, CHIA chair Andrew Hannan claimed the community housing industry could play a strategic role in engaging and co-investing with a multisectoral group of governments and the private sector to address a daunting yet solvable national issue.
“The sector now manages over 100,000 homes, has $18 billion in assets, and brings in $1.8 billion every year in revenue,” Mr Hannan touted.
Specifically, the CHIA has made an appeal for all parties to push for a national housing policy agenda that will enlist the participation of all levels of government, the business sector, and non-profit organisations based on these key points:
- The community housing industry should invest in the development of 25,000 new social and affordable rental dwellings per year.
- Support a nationwide build-to-rent-to-buy initiative to help low-income families transition from social and affordable rental housing to home ownership.
- Work with state and territory governments to create a national climate resilience fund to support the retrofitting or renewal of underperforming or poorly placed social housing, especially those operated by community housing organisations.
“In our federal election ‘platform’ CHIA proposes a range of cost-effective ways that could make a major dent in Australia’s affordable housing challenge. We’re just hoping to see all parties take notice and push the start building button ASAP,” Mr Hannan concluded.
ABOUT THE AUTHOR
Noemi Paminuan-Jara
Noemi is a journalist for Smart Property Investment and Real Estate Business. She has extensive experience writing for business, health, and education industries. Noemi is a contributing author of an abstract published by the American Public Health Association, and Best Practices in Emergency Pedagogical Methods in Germany. She shares ownership of the copyright of an instructional video for pharmacists when communicating with deaf patients. She attended De La Salle University where she obtained a double degree in Psychology and Marketing Management.
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