Government loans to boost social housing

THE Victorian Government will provide up to $1 billion in loans for community housing associations and partnerships to build thousands of social and affordable housing properties.

Premier Daniel Andrews unveiled the government’s Affordable Housing Investment Partnership (AHIP) that will provide low-interest loans and government guarantees to support financing of up to 6,000 new homes.

Mr Andrews last week joined Housing Minister Colin Brooks, Hesta CEO Debby Blakey, Super Housing Partnerships CEO Carolyn Viney and ANZ Group Executive Mark Whelan to mark the start of apartment complex in Melbourne that will include 73 social properties, 73 affordable and 14 specialist disability homes.

The state government provided a $32 million loan to help facilitate the project, which is set to be a model for future investment.

The government said the AHIP will boost supply of the properties through community housing sector partnerships with superannuation funds, not-for-profits, developers and local government.

Latest Victorian Housing Register data to March shows that 663 households are on a waiting list for Surf Coast public housing, 1,663 for the Bellarine and 8,075 across Geelong. Applicants can select up to five location preferences.

Mr Andrews said the new investment would build on existing programs aimed to improve social housing stock. “Every Victorian deserves a place to call home. With this new partnership, we’ll help finance more social and affordable housing projects across the state – boosting housing supply when it’s needed most.”

“We know that having a home provides a solid foundation enabling people to hold down jobs, access education and raise a family – and that’s what we’re delivering,” Mr Brooks added.