November 30 2017
By The Ian Potter Foundation
Homes for Homes is an independent, not-for-profit, community-led solution to Australia’s affordable housing crisis. This innovative initiative aims to raise a new source of funding to invest in community housing and thereby increase the supply of social and affordable housing.
The Homes for Homes model raises funds through a tax-deductible donation by homeowners when selling their house. The funds raised are distributed to community housing organisations to build affordable housing in areas of greatest need. Homes for Homes will target private homeowners, builders, developers, government/urban renewal authorities and banks to incorporate a voluntary opt-out caveat on the title of properties which allows 0.1% of the sales to be deposited in an investment fund.
This capacity-building grant will support Homes for Homes to build its operational capability during its establishment phase. Homes for Homes is an excellent example of an innovative model seeking to provide scalability and sustainability in addressing Australia’s affordable housing crisis.