A new report has identified a way that could increase the country’s supply of affordable housing, as well as help to solve Australia’s growing homeless population problem.
The report by the Centre for Social Impact at the University of New South Wales found that a type of investment called a social impact investment (SII) had been effective overseas in tackling social issues, and had the potential to grow in Australia.
The institute reveals such investments have the potential to increase the supply of affordable housing, increase social housing supply, as well as act as an incubator for the government to trial ways to provide new services.
The report’s lead author Kristy Muir said with the number of people in Australia on waiting lists for social housing growing, new options needed to be explored.
“There’s more than 200,000 people on the housing waiting list and you also have 100,000 people who are homeless on any given night,” she said.