Homes for Homes has announced the recipients of a combined $460,000 in funding to support projects which will increase Australia’s supply of social and affordable housing.
Established by social enterprise, The Big Issue, Homes for Homes is an independent, not-for-profit organisation helping to solve Australia’s biggest social issue.
Homes for Homes raises funds through voluntary donations from donors, both individuals and property developers, agreeing to include a caveat on property titles, which enables a tax deductible donation of 0.1% of the sale price to be donated to Homes for Homes. This funding is granted to experienced housing providers to increase the supply of social and affordable housing.
Homes for Homes’ Chief Executive Officer, Steven Persson said the funding milestone would not have been possible without the support of property developers, the Federal Government, several state governments, partners and the community.
“The gap between the supply and demand of social housing is projected to grow to as much as one million properties over the next 16 years, but the continued success of the Homes for Homes’ model shows that collectively we can make a significant impact to tackle this issue.”
The funding will be dispersed across four projects including Aboriginal Housing Victoria Limited, Women’s Housing Limited, Habitat for Humanity Victoria, and Community Housing Canberra (CHC).
CHC Chief Executive Officer, Andrew Hannan said the funding will be used to develop and manage a new group home with 24/7 support for Canberran adults living with mental illness, which would not have been possible without the support of Homes for Homes.
Homes for Homes has allocated nearly one million in funding since its launch in 2015 and is expected to generate in excess of $1 billion over 30 years. The Federal Government also committed $6 million in seed funding, over four years, to Homes for Homes in 2019.
Assistant Minister for Community Housing, Homelessness and Community Services, Luke Howarth said the Morrison Government understands that access to safe and secure housing is essential to a person’s health and wellbeing.
“Housing can have a huge impact on a person’s life, affecting mental health, family life and work opportunities. It is because of this that the Federal Government is proud to have committed $6 million to support Homes for Homes in its mission to house vulnerable people in our communities.”