Melbourne, Australia—September 21st, 2015
A new initiative with the potential to raise more than $1.8 billion for social and affordable housing will be launched by social enterprise, The Big Issue, this week.
The Homes for Homes initiative will encourage homeowners and organisations involved in property transactions to donate 0.1 per cent of their property sale price to the initiative. For example, a $500,000 property transaction would mean a $500 donation at the time of sale.
Funds raised through Homes for Homes will be distributed to housing providers to build properties based on the areas of greatest housing need. This could include emergency housing for women and children, specialised youth housing centres and housing for low income earners.
The initiative is based on a US model developed by one of America’s leading homebuilders, Lennar Corporation, which has been tailored to the Australian market by The Big Issue.
Lennar Regional President Jeff Roos and The Big Issue and Homes for Homes CEO Steven Persson will speak to developers and industry experts as part of a national roadshow to launch the initiative this week.
“We strongly believe that solving our critical lack of social and affordable housing cannot sit with one government or organisation alone, but requires the entire Australian community to be part of the solution,” Mr Persson said.
“Homes for Homes is a sustainable, long-term solution that will benefit all Australians by giving future generations access to safe, secure and affordable accommodation.”