$120 million social housing investment

The Victorian Government has announced a $120 million investment to boost the state’s supply of social housing.

Launch Housing has welcomed this announcement.

Launch Housing CEO, Tony Keenan, said the announcement is the right response to declining rental affordability, long waiting lists for public housing, and increasing rates of homelessness.

The most recent figures from the Department of Health and Human Services show that only 6.4 per cent of Melbourne’s rental properties are affordable for low income households, while more than 32,000 people are on the state’s public housing waiting list.

“Over the past winter we’ve seen increasing numbers of people, including those sleeping rough, seeking support from homelessness services,” said Keenan.

The City of Melbourne StreetCount found there were 247 people sleeping rough in and around Melbourne’s CBD in June this year. This represents a 74 per cent increase from the previous count conducted only two years ago.

“There is a clear need for this investment and more social housing. Without new housing we are managing the problem of homelessness, not fixing it,” said Keenan.

Launch Housing also welcomed the government’s plan to use vacant government-owned land for social housing and to expand the Rapid Housing Assistance Fund.

The Rapid Housing Assistance Fund will allow registered housing providers to purchase and lease properties for people experiencing homelessness.

“This approach is faster than building new supply from scratch and flexible because it allows for mix of housing stock according to household and geographical need,” said Keenan.

Also flagged in the announcement was the government’s plan to release a housing affordability strategy later this year.

“We look forward to hearing more about the government’s plan and believe that affordable housing – rather than property prices – should be central to the government’s approach,” said Keenan.

Martin Foley, Minister for Housing, Disability and Ageing said, “This is about increasing the supply of decent, affordable and stable accommodation for those who need it most.”

“We’re growing social housing with a much-needed funding boost and upgrading existing properties so they meet modern standards and expectations,” said Foley.