A growing number of homeowners in the ACT have donated a percentage of their property sales to help solve the problem of social and affordable housing.
The Homes for Homes program was established by The Big Issue and aims to address Australia’s shortage of 600,000 social and affordable homes.
Registered homeowners have agreed to donate 0.1% of their property’s sale price to the initiative at the time of sale and, once a house is registered, the legal mechanism stays on the property title and prompts a donation each time the property is sold.
Under the Homes for Homes model, the money raised in each state or territory will be used in that jurisdiction.
The ACT is in its third grant round, with $200,000 now available for projects that can deliver social and affordable housing. Previous rounds have released $500,000 to housing providers in the ACT.
Homes for Homes CEO Steven Persson said the initiative was based on the ‘Housing First’ principle, which was an effective, evidence-based model, now widely accepted as the optimal strategy to end homelessness in Australia.
“Providing a house first is the priority as housing is the key ingredient for stabilising underlying issues such as mental health and addiction,” he said.
“With a shortfall of 600,000 social and affordable houses, Homes for Homes is a long-term generational solution that gives those experiencing homelessness, marginalisation and disadvantage the freedom, independence and stability of secure housing.
“These last few months have shown us that, more than ever, a lasting solution to homelessness is needed in Australia.
“With overwhelming support from developers such as ACT’s Capital Airport Group and the community of Denman Prospect (Australia’s first Homes for Homes suburb), business and government, Homes for Homes is on track to generate over $1 billion for social and affordable housing over the next 30 years.”
Applications close on Monday 31 August and will be assessed by an expert, industry-based advisory group in the ACT. To apply, visit homesforhomes.org.au/funding.
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