$1 billion Victorian affordable housing program welcomed

Affordable housing has been given a significant boost with the support of the Victorian Government to go guarantor for up to a $1 billion worth of affordable housing projects.

Nicholas Proud CEO of PowerHousing Australia which represents 28 of Australia’s largest Community Housing Providers (CHPs) today welcomed the Andrews Government policy to work with housing intermediaries to support the financing of affordable housing projects.

The Community Housing Sector has been introducing ways to sure up the finance for the delivery of affordable housing and this announcement will go a long way to support housing outcomes for providers in Victoria.

Reducing the risk for banks and improving the cost of lending is an important step that a Government can do to increase the provision of affordable housing from the CHP sector which is a sound decision.

The separate $100 million rolling loan facility to assist registered housing associations to borrow from the treasury to build new homes is also pleasing to see and will make a difference to so many lives.

All Australian Governments are starting to get the fact that affordable housing just won’t happen by itself and the unveiling of housing affordability strategies at the State level needs Federal leadership which we expect in the May Federal Budget.

As per the recent Productivity Commission Report on Government Services, Community Housing Providers provide the highest level of satisfaction, tenant amenity/location scores and acceptable standards and investment in the sector announced today makes economic sense for good client outcomes and affordable housing delivery.

This investment today acknowledges the Community Housing Sector is having a positive effect in working with State and Federal Government to increase affordable housing stock, quality of stock and delivering return on investment.

For further queries contact:

Nicholas Proud, CEO, PowerHousing Australia, 0408 538 126.