Housing Affordability Breakfast Thursday 2nd June 2016 Wollongong Golf Club, Foreshore Brasserie

Transcription

1 Housing Affordability Breakfast 2016 Thursday 2nd June 2016 Wollongong Golf Club, Foreshore Brasserie

2 Housing continuum Affordable Houising Crisis Housing Public Housing Community Housing Private Rental Home Ownership Non-market Market

3 Affordable Housing is that which reduces or eliminates housing stress for low-income and disadvantaged families & individuals in order to assist them with meeting other essential basic needs on a sustainable basis. Source: Australian Govt Affordable Housing Working Group: Issues paper, Council on Federal Financial Relations, Jan 2016.

4 Affordable Housing = no more than THIS IS 30% of household income spent on rent or mortgage payments AFFORDABLE HOUSING

5 For a family with 2 children under 10 on minimum wage and Parenting Payment... only 0.5% of available rental properties in the Illawarra are affordable Compared to national average of 8.9% of available properties. of 1200 shown here only 6 are affordable Source: Anglicare Australia Rental Affordability Snapshot April 2016

6 260,000 NSW 14,000 Illawarra By 2024 the annual housing deficit to rise by Source: MacroPlan Dimasi, Missing the Mark, 2015 Commissioned by the Property Council.

7 In the Illawarra Median house prices have increased by 25% while median salaries have only increased by 5% = 5x faster than earnings Source: 12th Annual Housing Affordability Survey by Demographia - Illawarra Mercury 27 Jan 2016.

8 In the Illawarra in April 2016 there were 0 0 affordable & appropriate rental properties for persons on income support affordable & appropriate rental properties for single person with/without children on minimum wage 22 affordable & appropriate rental properties for couple with children on minimum wage Source: Anglicare rental affordability Snapshot (Greater Sydney & Illawarra) April 2016.

9 On current trends 39,000 affordable dwellings required by 2031 in Greater Illawarra Source: Greater Illawarra: The Smart Growth Agenda, Judith Stubbs & Associates 2015

10 Solution Strategy DESIGN Affordable Housing should be accessible to public transport & community infrastructure Encourage smart & sustainable design for Affordable Housing New developments incorporate Universal Design Principles to support government policies such as Ageing in Place and Accessible housing

11 Solution Strategy FINANCE Public Housing to be classed as public infrastructure to open up investment options... (e.g. Waratah Bonds) Government work with industry to develop Affordable Housing using institutional investment

12 Solution Strategy ALL LEVELS OF GOVERNMENT Federal Government implement incentive-based model to improve Affordable Housing in partnership with States and Territories Recommend that Federal Government direct Negative Gearing to incentivise Affordable Housing Encourage more Affordable Housing through floor space ratio and car parking requirement concessions especially in CBD developments

13 Section 94 concessions or exemptions for provision of Affordable Housing While the EPA Act provides for Local Government to collect section 94F contributions for Affordable Housing, only two Councils, have been authorised under SEPP 70 to make such collections. Section 94

14 Innovative Ideas Western 1 Australia Shared Home Ownership

15 Innovative Ideas 2 ACT Land rent affordability

16 Innovative Ideas 3 Key worker Housing RENT OR RENT TO BUY One of the newest additions is The Platform apartments in Eveleigh, Sydney, right on the doorstep of Carriageworks. The 88-unit development was completed last month and is reserved for key workers in low and medium income households.

17 Innovative Ideas 4 In London, it s mandated that 35% of new developments be given to affordable housing, while in Amsterdam, nearly half of housing is social rented housing with 30 per cent of new builds to be social housing.