‘Enabling industry co-investment in a sustainable Victorian affordable housing system’
The recently formed Affordable Housing Industry Advisory Group (the Advisory Group) is calling on greater partnerships between government and industry to support co-investment in housing solutions for lower-income Victorians.
The Advisory Group comprises of representatives from across Victoria’s residential development industry, including the UDIA, Property Council of Australia, Planning Institute of Australia, Community Housing Federation of Victoria, the financial and banking sector and the not-for-profit housing development sector. All parties share a common interest in improving affordable housing supply.
“In line with Infrastructure Victoria’s recent call for large scale and urgent investment to boost affordable housing supply, the Advisory Group views affordable housing as key economic infrastructure and argues that a range of investments by all levels of government is required,” said Ms Foxworthy.
The Advisory Group today released a policy paper ‘Enabling industry co-investment in a sustainable Victorian affordable housing system’ that sets out:
- Shared industry objectives for an affordable housing system in Victoria;
- Underlying conditions that are required for the industry to co-invest; and
- Two potential voluntary-based planning approaches that the Advisory Group propose for further investigation in collaboration with the Victorian Government.
“The Advisory Group is calling on governments to create the underlying conditions and environment that will enable the residential development industry to contribute and invest. We want to assist government to understand and support the development of these conditions to ensure that any strategy can be successfully delivered,” said Ms Foxworthy.
The group is particularly interested in exploring ways in which voluntary (opt-in) planning approaches could be structured to ensure they support rather than hinder development and will be hosting a Round Table with government stakeholders on 4 November 2016 to further explore these ideas.
Affordable Development Outcomes provides policy and strategy support to the Advisory Group and looks forward to supporting the collaborative efforts to address affordable housing need.