The Victorian Government's social housing investment will create jobs while providing shelter to the most needy

INDUSTRY Super Australia (ISA) has welcomed the Victorian Government’s record $5.3 billion investment in social housing.  

The Andrews Government's five-year investment will provide homes to many Victorians in need and jobs for workers who have been impacted by COVID-19 and the state’s lockdowns.

ISA said the Andrews Government should be congratulated for recognising that there exists a unique opportunity for government stimulus spending to not only create jobs but to address areas of social need.

Industry Super Australia chief economist Stephen Anthony said, “The Andrews Government investment will boost the state’s economy while putting a roof over the head of some of Victoria’s most vulnerable people.

“The Victorian Government must be congratulated for seizing the opportunity of using its stimulus programs to not only create jobs but to meet a long-term social need.

“Australia’s housing shortfall is growing, only a co-ordinated effort between all layers of government, the social housing sector, construction bodies, investors and charity groups can we arrest the 30-year decline.”     

ISA is part of the National Affordable Housing Alliance (NAHA)- a coalition anti-poverty groups, construction bodies, unions and super funds, who want to lift construction of community and social housing.

The group collectively advocates for a commitment by all governments to the long-term funding of social and affordable housing in Australia. ISA is continuing to work with governments, housing providers, anti-poverty groups to develop policies and programs that will help address the 30-year under-investment in affordable and social housing stock

The shortfall of community and social housing is widening and by 2036 is set to reach 1 million properties nationally.   

The best way to address the national social and community housing shortfall is through a co-ordinated national plan and close co-operation between all levels of government, according to ISA.

ISA has had discussion with several governments on policies that would help unlock institutional investment in social and affordable housing and has written a paper discussing solutions to Australia’s affordable housing problem: https://www.industrysuper.com/media/fixing-affordable-housing-in-nsw-and-beyond/ 

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