SOCIAL HOME OWNERSHIP
Rediscovering the Great Australian Dream
Equity Economics has prepared a report with Habitat for Humanity Australia on the benefits of social home ownership as a means to address the housing affordability challenge facing low-income families in Australia. The report finds that a community development model involving families, the community sector, government, the corporate and financial sectors could work together to deliver social home ownership.
It is estimated that $1 investment delivers $7 return through the contribution of 'sweat equity' by families, donated materials, and volunteering while providing secure housing to families currently excluded from the housing market. The report also identifies the many benefits that go with home ownership in Australia (including tax benefits, work and educational outcomes) which many low-income families are currently missing out on.
Equity Economics undertook the research and original analysis contained in this report. It also supported Habitat for Humanity to promote the report and as a tool to engage government in this important area of social policy.
This work contributes to Habitat and Equity Economic's efforts to address the housing challenge in Australia which is contributing to intergenerational inequity.
The full report is available here