Meeting the Illawarra’s housing shortfall would support 20,000 jobs

20,768 jobs could be supported in the Illawarra by building 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 NSW[1] projecting 9.6% unemployment in the Illawarra by July 2021, CHIA NSW has called for government investment to build the 7,692 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 $2.3 billion would support 20,768 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 Illawarra and keep families in the region housed through the coming recession.

“We know that even before COVID-19 the Illawarra needed 10,000 more homes by 2036 for renters struggling to keep a roof over their head.

“Now COVID-19 could increase homelessness in the region by 6% and see 11% more local families in housing stress.

“Housing construction is one of the best forms of stimulus” said Michele Adair, CEO of Wollongong based Housing Trust. “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 Wollongong and avert catastrophe for thousands of families who will be thrown into housing stress or homelessness by the pandemic.”

Community housing providers have a proven track record delivering $1.2B in quality housing over the past 10 years. This includes 113 homes by Housing Trust with many more in the pipeline. We have financial capacity, construction experience and strong community connections. We are well positioned to partner with Government to deliver stimulus in residential housing to those who need it most” said Ms Adair.

Media contact: Hannah Craft, 0423 377 965

[1] http://www.equityeconomics.com.au/nsw-impact-of-covid-19

[2] https://cityfutures.be.unsw.edu.au/research/projects/filling-the-gap/

[3] https://www.nhfic.gov.au/what-we-do/building-jobs-how-residential-construction-drives-the-economy/