Advocates say subsidies needed to grow affordable housing stock

Published 25th July 2019

Community housing advocates have welcomed a $45.7 million low-interest construction loan from the Commonwealth housing funder but say the government must do more to fix a persistent funding gap in low-income housing delivery.   

The National Housing Finance and Investment Corporation (NHFIC) last week announced its first ever construction loan to a community housing provider (CHP) – BlueCHP – to build 93 new affordable homes in Sydney.

This two-year loan comes with an interest rate of less than 4 per cent, which BlueCHP expects will deliver savings of more than $600,000 a year.

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Source:
Luke Michael, 2019, Probono Australia (https://probonoaustralia.com.au/)