At the AIST (Australian Institute of Superannuation Trustees) ASI 2021 conference last week one of many discussions that took place was on a newly developed investment model in affordable housing that aims to overcome some of the traditional barriers to pension fund investing in this asset class and deliver solid returns for members.
Carrie Hamilton, Consultant, Housing Action Network, Wendy Hayhurst, CEO @ CHIA and Associate Professor Christian (Andi) Nygaard, Deputy Director, Centre for Urban Transitions, Swinburne University of Technology as an expert panel provided their insights into this topic. The recording can be heard here.
Australia could start beating the recession immediately by investing in social housing construction, with more than 12,500 new affordable homes ready to be built across the country if a Federal stimulus package included in the October 6 budget, new data released today reveals.
The survey by the Community Housing Industry Association (CHIA) shows not for profit housing providers have shovel ready projects that would deliver 12,500 new homes and almost 7000 jobs within the next five years.
More 6,000 new homes could begin construction within the next 6 months if they are supported by Federal Government investment.
Full media release here
Building the Recovery: investment in social housing will create thousands of jobs and improve social outcomes
New modelling released today by the Community Housing Industry Association (CHIA) and National Shelter demonstrates how investing in a four-year social house building program of 30,000 homes will create on average up to 18,000 full-time equivalent jobs each year.
Wendy Hayhurst, CEO at CHIA said, “The Social Housing Acceleration and Renovation Program (SHARP) will not just deliver great quality homes to those in need but also secure great jobs for thousands of Australians. SHARP’s main benefit will fall where the job losses have been greatest in Sydney and Melbourne but will also create jobs all over Australia in regions and towns.
“With the period 2021-22 earmarked as an anticipated economic weak point, SHARP will create up to 24,500 jobs both on-site and in the wider building services industry. The Federal Government has stated that we have to maintain a laser-like focus on jobs to get Australia moving and this new modelling shows that SHARP does just that,” says Ms Hayhurst.
To read the full media release click here
For the full report click here