Community Housing Industry Association Victoria (CHIA Victoria)
New modelling reveals the Victorian government could save $1.99 billion and unlock as many as 26,000 social homes over the next decade by supporting community housing organisations to purchase land next door to existing community housing properties.
A Swinburne University and Ys Housing discussion paper, in partnership with CHIA Victoria and 10 community housing providers, identifies 1,637 sites across Melbourne, Geelong, Ballarat and Bendigo that could be redeveloped and merged with adjacent social housing to boost supply.
The paper finds that a state government investment of $80 million a year for ten years has the potential to:
- Purchase 1,000 lots, unlocking land to deliver between 10,500 and 26,000 new social homes
- Save taxpayers $1.99 billion through lower land costs, efficient land use, and more cost-effective project delivery
- Create savings of $250,000 per new dwelling.
Over the longer term with further investment, the strategy could create up to 65,000 social housing units, enough to clear Victoria’s social housing waitlist.