Meeting the Central Coast’s housing shortfall would support 30,000 jobs
30,780 jobs could be supported in the Central Coast by building new homes the social and affordable housing needed in the region, new analysis by the Community Housing Industry Association (CHIA) NSW has shown.
With a recent Equity Economics report A wave of disadvantage across NSW1 projecting 7.1% unemployment in the Central Coast by July 2021, CHIA NSW has called for government investment to build the 11,400 social and affordable homes the region needs. 2
Based on modelling by the National Housing Finance and Investment Corporation (NHFIC)3 CHIA NSW estimates the total investment of $3.4 billion would support 30,780 jobs during the course of construction.
CHIA NSW CEO Mark Degotardi said by investing in social housing in the next month’s Budget, the NSW government can create local construction jobs for the Central Coast and keep families in the region housed through the coming recession.
“We know that even before COVID-19 the Central Coast needed 17,300 more homes by 2036 for renters struggling to keep a roof over their head.
“Now COVID-19 will increase homelessness in the region by 18% and see 12% more local families in housing stress.
“Social housing construction is one of the best forms of stimulus. It is jobs intensive, creates a valuable public asset, and has the crucial social outcome of providing secure homes that people can afford.
“By increasing social housing supply, public investment can flow to regional communities like Gosford and Wyong to avert catastrophe for thousands of families who will be thrown into housing stress or homelessness by the pandemic.”
Ian Lynch, CEO of the Central Coast-based housing provider Pacific Link Housing, said the impact of social housing investment in the regions had the potential to set off a jobs boom.
‘’The data speaks for itself. The research has found that there is a shortfall of over 11,000 affordable housing dwellings on the Central Coast. With the upcoming NSW Government’s Budget focus on addressing the devastating economic impact of COVID-19, there is so much potential to both strengthen regional economies and meet unmet demand in affordable housing.” said Mr Lynch.
‘’Pacific Link Housing has delivered 119 housing units in the last five years, contributing over $20 million in new housing to the local region and stands ready alongside other providers to collaborate with government in meeting the shortfall of 11,000 affordable dwellings on the Central Coast’.
Media contact: Hannah Craft, 0423 377 965