Homes for Homes opens first-ever funding round
Melbourne, Australia—January 14th, 2018
Homes for Homes is opening an initial funding round for projects that will increase the supply of social and affordable housing, with $300,000 available in Victoria and $200,000 available in the ACT.
Homes for Homes is an initiative of The Big Issue, established to tackle the chronic shortage of housing – one of Australia’s most pressing social issues – by creating a new, sustainable funding stream.
Experienced social and affordable housing providers, property developers and other not-for-profit and private sector organisations in Victoria and the ACT are invited to apply for funding.
Under the Homes for Homes model, money raised in each state or territory will stay in that state or territory to increase the supply of social and affordable housing locally available.
Everyone has the right to safe and secure accommodation, yet more than 105,000 people are without a home and 1.5 million households live in housing stress.
Thankfully, as support for Homes for Homes has shown, there’s an enormous appetite in the Australian community to collectively fix this problem.
Homes for Homes provides a way for the entire community to help tackle the housing issue, by raising funds through donations from property sales.
Homeowners and other property stakeholders voluntarily register with Homes for Homes, agreeing to donate 0.1 per cent of their property’s sale price to the initiative at the time of sale (for example, a $500,000 sale results in a $500 donation).
The Homes for Homes legal mechanism stays on registered property titles, prompting a donation each time the property is sold in the future.
Homes for Homes is a generational-change model. It has the potential to raise more than $1.8 billion over 30 years.
Applications for this round are open from 15 January to 26 February. Find out more or apply.