Everybody’s Home, the national campaign to end homelessness, is fighting for every Australian to have a home of their own, but the chronic underinvestment in social and affordable housing has seen homelessness levels skyrocket.
Modelling within the new Budget Position Paper from Everybody’s Home shows at least 25,000 new social housing dwellings are desperately needed in this year’s federal Budget.
The Paper also includes previously unreleased modelling that reveals the underinvestment in social housing is resulting in foregone public sector cost offsets and private sector benefits of $676.5 million per annum, which is set to rise to $1.286 billion per annum in 2036.
Additionally, 15,700 jobs and an annual economic output of $12.9 billion would be generated through the construction of the 25,000 social homes, the submission notes.
The Paper also calls for expanding social and affordable housing to grant Australians on low or modest incomes greater housing choices.
In the 12 months to January 2022, the rental price of a three-bedroom home increased by 13.5 per cent, while the purchase price grew by 20.2 per cent.
In the regions, rental costs surged by 12.1 per cent yet wage growth sat at just 2.2 per cent.
The steep decline in federal funding in housing is particularly evident within Indigenous housing, where in 2013-2014 there was over $2 billion in funds, compared to only $1.6 billion budgeted in 2023-2024. Indexed for inflation, the investment should have been $2.7 billion, the paper argues.
National spokesperson for Everybody’s Home, Kate Colvin, said social housing investment is worthwhile, and most certainly urgent.
“A secure home is the foundation for stability and security. It means you can look after your health, tend to your family, join in the workforce, and contribute to society. Without a home, none of these things are possible,” Ms Colvin said.
“As our leaders put the final touches on the Budget, they need to be aware of the full benefit of social housing as well as the deep human cost of not providing people with a home.”
Ms Colvin said the Australian rental and property crisis has been creating new levels of housing stress in recent years, with huge chunks of household budgets being swallowed up in rental payments.
“Some regions of Australia, such as Tasmania or the NSW and Queensland coasts, have seen rent surge more than 20 per cent. This is not just breaking family budgets, it’s pushing families into homelessness,” she said.
“Australia’s common prosperity is best served by a housing system that gives people on low and modest incomes genuine choice and provides them security and stability. The increasingly brutal financial contest for housing is simply indecent. We can do better.”
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