opening doors to affordable housing chcwa council meeting april 2014
TRANSCRIPT
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Opening Doors to Affordable Housing CHCWA Council Meeting
April 2014
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Affordable Housing Strategy 2010-2020
1. Stronger, more diverse social housing system
2. More affordable private rentals and home ownership opportunities
3. Better use of government land and housing assets
4. Public-private partnerships – market solutions
Affordable Land Supply
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In essence... more supply and more transition points
<$30,000 $90,000<$50,000
Centrelink recipients
Nurses, police, trades
Retail, hospitality, NGO, casual workers
<$70,000
Professionals
Very low incomes Low incomes Moderate incomes
St Bart’s, Lime Street
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Some highlights….1. 14,200+ affordable homes since 2010 for people on low-moderate
incomes including:• 4,000+ social housing• 1,660 discounted rentals (NRAS)• 6,460 home loans through Keystart – approx 1,000 shared equity
2. Value-adding partnerships, e.g:• MRA – agreement for 1,300 affordable homes by 2020• CHOs – 155 growth properties complete or under construction• Private sector partnerships – 250 apartments in CBD financed by
private sector with 30+% affordable; JV investment partners• Builders’ EOI – 1400+ new entry level homes• DoP/ WAPC, Office of Land and Housing Supply, LandCorp, WALGA
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What the AH Strategy has meant for the CH Sector
• Investment – circa $400m in asset transfers since 2010/11; $2.4b asset value in community sector hands
• Growth – 75% of new social housing has gone to CH sector. Sector is now almost 20% of social housing system
• Consolidation – 8 providers hold 60% of assets• Diversity - greater role for growth providers (social
developers) as well as niche providers (client or location specific)
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Some ongoing challenges....Relational• Intelligent cooperation vs competition• Oversight in the public interest vs over regulation/prescription
Capability• Different skill sets needed in both sectors• Scaling up (CHOs) and letting go (Govt)
Legitimacy• Evidence + returns for policy makers, treasuries and banks• Winning hearts and minds of tenants
Financial• Housing those in greatest need vs growing supply• Financial viability - how the gap is funded
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The horizon....?
• Federal context – future of the NAHA and other CW outlays? NDIS impacts. Commission of Audit. Welfare, tax, federalism and program reviews
• State budget context – constricted capital expenditure, asset sales, doing more with existing ingredients
• Policy context – planned approach to sector growth (NSW, VIC, WA) vs more aggressive reform (QLD, SA, TAS). Sector efficiency + multi-provider diversity
• Social context – ‘deserving and undeserving poor’; generational and spatial divides
= Necessity for Innovation & Intelligent Cooperation
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Celebrating progress…
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Whole is greater than the sum of the parts… SharedStart…
Based on 30% of gross income, 10% deposit, 6.28% interest rate and 30 year loan term.Source for Perth house price: Market Update, June quarter 2013, REIWA