Business Development & Projects
Affordable Housing Models
While social housing was once a mixture of welfare housing and affordable housing, on the whole this is less true today. With increasing focus of social housing on people experiencing high needs, more people on low incomes must face the private market at a time when the gap between social housing and the private market has increased.
Housing stress exists across a wide range of income and social brackets. As Australia’s largest not for profit affordable housing provider, NAHC’s mission is to provide practical solutions for those in need across the spectrum.
Many of our supported tenants come from social housing wait lists, where limited income or disadvantage is not enough in itself to guarantee a place in the social housing system. Of course today, many people on low income would have been eligible for the social housing, or at least a place on the wait list in earlier times, no longer qualify and have to negotiate housing in the private market, otherwise without support.
In addition to the widened gap between social housing and the market, much has been written about the barriers that discourage low income and social housing tenants from transitioning into the private market. A focus of NAHC is to utilise housing products such as NRAS, private discounted rental guarantees, and shared equity to provide pathways and stepping stones bridging this gap.
NAHC currently has pilot programs for shared equity under construction in Queensland.
NAHC measures success not by the number of affordable properties that it develops, but by the number of new affordable properties that provide benefits to deserving tenants (or home owners in the case of shared equity) as a result of NAHC’s efforts.
NAHC recognises that new innovative solutions are needed to many issues facing the sector. One such possibility is to engage institutional investors including superannuation fund managers in social and affordable housing. NAHC has been working with some of Australia’s largest institutions and developers, and NAHC expects this planning to move to the operational phase in the coming months.