Housing Matters
A Beginners Guide to Affordable Housing
As the cost-of-living increases, and inflation surges, the anxieties experienced by thousands of Australians are widespread, and significant. At the forefront, seems to be affordable housing, as the population grapples with the cost of homes, and rentals.
Consequently, the need for affordable housing has never been greater, to alleviate the stresses of Australians and support the varying needs of our diversifying demographics. It is a term thrown around in the media and understanding how it differs from social and public housing is an essential step to bolstering the argument for its implementation.
Australians who utilise social housing are seeking homes in times of crisis, requiring emergency, short term accommodation. On the other hand, those seeking public housing may experience homelessness, family violence or other abuses, rendering them in need of refuge.
Affordable housing differs quite significantly from these options, offering Australians the opportunity to rent homes for a period, within inner-city suburbs, for a price that fulfills their budget requirement. It doesn’t necessarily translate into ‘lower cost’ construction, but does result in a more affordable housing option, alleviating the sting of the rising costs of property and rent.
Developers, backed with government support, are looking to harness build-to-rent modelling to achieve affordable housing across the nation. While it is a concept that will assist hundreds of people and families, the costs involved require extensive support from a myriad of stakeholders, and sectors, hence the encouragement from numerous non-for-profit organisations.
As affordable housing tends to be higher-density than build-to-sell properties, and thus, require an extensive supply and implementation of amenities, their cost is still significant. Additionally, it is unsustainable to develop low-cost build-to-rent properties, meaning that the construction costs generally mirror those of other build-to-sell developments as well.
Affordable housing will play a key role at a federal level. This year, the Labor Government announced a five-point plan intending to address the cost-of-living pressures in Australia. The budget included will involve a $10-billion Housing Australians Fund, which will work to deliver 30,000 affordable, and social, homes to Australians, as home ownership becomes increasingly unachievable, even for middle-income individuals.
The need for affordable housing has never been greater, and it is exciting to see aspects of federal and state collaboration to achieve enhanced outcomes for low-to-middle-income Australians. It will involve extensive planning, thoughtful action, and legislative commitment, but the opportunities that arise as a result will empower thousands of Australians, bolstering their quality of life
