Double return: How investing in social housing can address the growing homelessness crisis and boost Australia’s economic recovery

Written By Clare Maxwell

Summary

As Australians get set to enjoy a COVID-19 free summer, the economic and social impacts of the pandemic remain. In this report Equity Economics estimates that, compared to pre-pandemic levels, the long tale of high unemployment will lead to a:

  • 24 per cent increase in the number of Australian families under housing stress; and

  • 9 per cent increase in the number of Australians experiencing homelessness.

Leading economists have backed greater investments in social housing ahead of all other forms of economic stimulus for a reason - not only does it support economic growth today, it supports future prosperity by addressing entrenched disadvantage.

In the long term, Equity Economics estimates that an additional 30,000 social housing units would reduce the number of Australians experiencing homelessness by around 4,500 per year and save $135 million in direct support costs.

The report is part of the Everybody’s Home Campaign.

Read the full report

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Clare Maxwell
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