As the broader build-to-sell market remains challenging, developers are more willing to sell to Community Housing Providers (CHPs) as a viable exit strategy.
The federal government’s first tender for funds from the $10 billion Housing Australia Future Fund has drawn bids from community housing providers, fund managers, and state and territory governments. The bids have outstripped the nominal 8,000-home quota and prompted calls for a more significant allocation of funds.
But what if the build-to-sell market bounces back? How can CHPs maintain the deal flow?
For many experienced professionals in the space, the answer is inclusionary zoning. This brief from the Australian Housing and Urban Research Institute (AHURI) explains inclusionary zoning and describes some examples of its use in residential development projects to increase the number of affordable dwellings. bit.ly/49cQvnT
So far, Australian states and territories have only dabbled in inclusionary zoning with pilot programs and voluntary schemes that have yet to impact the supply of social and affordable housing. However, getting serious about fixing the housing crisis will require complementary initiatives at the federal, state and local levels, and inclusionary zoning will inevitably attract increasing attention.
The policy settings must be suitable to facilitate increased supply and planning, tax reform, and creating new collaborative relationships must be part of this. There is a lot of work to do, but it is too important an issue not to have the conversation.
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