8 February 2024
New modelling, commissioned by Community Housing Industry Association NSW (CHIA NSW), reveals that the NSW Government needs to invest $2 billion per year over the next five years in social and affordable housing to address the escalating crisis.
The call for funding comes as Australian Productivity Commission data shows NSW is one of the worst funders of social housing, despite having the longest social housing waitlist in the country, with only Western Australia and the ACT spending less.
Key findings from the SGS Economics modelling include:
- The NSW Government needs to invest $2 billion per year over a five-year period
- This would deliver 25,000 social and affordable homes across Greater Sydney and regional NSW over five years.
- The NSW Government would save $1 billion over five years by partnering with community housing providers to deliver half of these homes
Quotes attributable to Mark Degotardi, CEO of CHIA NSW:
“If the NSW Government is serious about getting the 58,000 families and individuals off the social housing waitlist and into homes, then this modelling shows them exactly what they need to do.
“Despite NSW having the longest social housing waitlist in the country, we have one of the worst track records of investing in social and affordable housing.
“Tinkering with changes to planning laws just won’t cut it for the tens of thousands of families struggling for a roof over their head. Almost every other state has already begun significantly investing in social housing and looking for ways to maximise their allocation from the Housing Australia Future Fund. NSW isn’t just behind the eight-ball, we’re not even at the table.
“We need investment now from the State Government to build more social and affordable housing, and governments need to partner with not-for-profit community housing providers that have projects across the state that are ready to go. Make the investment and put the sector to work, delivering thousands of social and affordable homes to families in desperate trouble.”
CHIA NSW will launch the SGS modelling and its pre-Budget Submission to NSW MPs, members, and other stakeholders at a closed launch at NSW Parliament on Thursday.
Comparison of state and territory expenditure on social housing, 2018-2023:
|Average capital expenditure, each year, per person
|Source: Capital expenditure on social housing drawn from Australian Productivity Commission, Report of Government Services, Part G Housing and homelessness, January 2024
Media contact: Bron Matherson, 0438 844 765