A succession of Australian governments, indifferent of their politics, have struggled to respond to the challenges of escalating home purchase prices, private rental costs and people’s housing needs in general.
Currently, the co-operative sector currently provides cost effective, affordable, long term housing for a wide range of households not well served by existing housing markets within a structure that supports the social and economic development of members and local communities.
In the BCCM’s submission to the House of Representatives inquiry into home ownership, outlines the sector’s contribution to affordable housing and the potential for its expansion across the country.
The submission outlines the work of a BCCM member, Common Equity Housing Limited (CEHL), which owns 2,200 co-operative housing properties and houses 5,418 people in Victoria. Its housing stock is valued in excess of $650 million. In order to expand the sector’s contribution, the submission outlines the need greater access to capital and improved education for the housing sector about the various models and associated legal and financial instruments.