Published 28th March 2019
Community housing providers believe Australia is set for a “new dawn” in social and affordable housing, following the launch of a $315 million social bond for the sector.
The National Housing Finance and Investment Corporation’s (NHFIC) first bond – the largest social bond ever issued in Australia – offers providers 10 year loans with an interest rate of less than 3 per cent.
This finance, which is significantly cheaper than current bank rates, will generate better cash-flow and greater financial certainty for providers, which expect to build up to 300 new affordable rental properties with the funding.
Providers involved in the first round of NHFIC loans include BlueCHP, CHL, Compass, Evolve, Hume and Unity.
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Source:Luke Michael, 2019, Probono Australia (https://probonoaustralia.com.au/)
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