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The South Australia, NSW, and Western Australia governments have all revealed major social housing movements and milestones this week.
Dominic Perrottet’s NSW Liberal government pledged greater certainty for investors in the $87 million Community Housing Leasing Program (CHLP) by announcing that the scheme has extended from six years to 10 years.
The program, which “already delivers leasing subsidies for almost 6,000 private market properties so they can be used as social housing,” according to Minister for Families and Communities, and Minister for Disability Services, Natasha Maclaren-Jones, will be boosted by more than 60 newly acquired dwellings and 100 long-term leases.
“It is the key to unlocking longer-term leases and increasing capital supply,” she said.
“This, in turn, generates significant value for Community Housing Providers which flows on to the residents who live in these properties, easing pressure for families and vulnerable people.”
Delivered in partnership with Bridge Housing through their funding agreement with Conscious Investment Management (CIM), the guarantee is locked in until June 2033.
“Thirty years of experience in community housing tells us that secure long-term and affordable housing is critical to supporting our residents and our communities to thrive,” explained Bridge Housing chief executive officer, Rebecca Pinkstone.
CIM chief investment officer, Matthew Tominac added, “This investment continues to demonstrate a model of how private capital can invest into social housing while earning appropriate returns.”
South Australia’s Malinauskas government announced plans to deliver the first substantial increase to the state’s public housing in many years, through the construction of an additional 564 public homes while preventing the sale of 580 others.
The government announced its latest commitment, part of the ‘A Better Housing Future’, which will provide an additional 1,144 public homes by 2026. Moreover, the scheme will commit an additional $55.2 million over the next four years to additional public housing.
State premier, Peter Malinauskas affirmed his belief that “nothing is more fundamentally important to a quality life than a safe, affordable home.”
Referencing the fact that only once in the past 30 years has the state’s public housing stock increased, (which was in the 2014–15 financial year), he said that “for too long, governments — both Liberal and Labor — have stood by as our public homes have been sold off, while waiting lists grow.”
“No longer,” he declared.
Nat Cook, South Australian Minister for Human Services, said the government is “doubling down” on its $177.5 million election commitment to build and upgrade hundreds of public homes which includes aims to deliver 400 new public homes, upgrade 350 more, and allow extra maintenance for a further 3,000 properties.
Meanwhile, in Western Australia, the McGowan government recently marked a major milestone with the state’s public housing stock having been boosted by 1,000 social homes as part of the government’s $2.4 billion investment in housing and homelessness services.
Western Australia’s Housing Minister, John Carey, stated that in addition to the current stock, a further 1,051 social homes are under contract or construction. Several programs have been heralded for facilitating the government’s construction achievements including the modular build program, timber frame program, and spot purchasing program.
Mr Carey stated these schemes “sped up” the government’s social housing delivery.
He explained that the state has “established the state-wide builders panel, cutting red tape to allow 85 businesses from across WA, including small, local, mum and dad businesses to benefit from this government’s record investment in social housing delivery.”
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