Affordable housing
It offers eligible Victorians a high quality and secure place to live at a below market rent. This means renters can meet their other basic living costs including food, clothing, transport, energy, medical care and education.
There are several different affordable housing programs available in Victoria with unique rent settings and eligibility criteria.
Homes Victoria are working in partnership with the housing sector to deliver more affordable housing.
Programs:
Homes Victoria Affordable | Homes Victoria
Homes Victoria Affordable gives everyday Victorians access to modern, energy efficient homes and stable housing at a more affordable rent.
Under the program, rents in metropolitan Melbourne are set at least 10% below the area’s median market rent, with the added protection of a cap set at 30% of the median income.
Ground Lease Model
As part of an integrated housing model, there will be a mix of social, affordable, specialist disability and market rental homes across the sites to provide greater diversity in Victoria’s rental stock. The properties are managed by community housing organisation, Community Housing Victoria Limited (CHVL).
Affordable Housing Partnership Program & Regional Housing Fund
The Affordable Housing Partnership Program forms part of the Social Housing Growth Fund grants program, comprising part of the Big Housing Build and the Regional Housing Fund, and aims to deliver up to 1,300 new Affordable Housing homes across Victoria in partnership with the community housing sector.
Affordable Housing Investment Partnerships
Affordable Housing Investment Partnerships (AHIP) makes low interest loans and government guarantees available to finance social and affordable housing for Victorians who need it most.
AHIP expands on the existing Building Financial Capacity of Housing Agencies (BFCHA) initiative, bringing the total finance available to $2.1 billion.
Low interest loans and government guarantees are open to:
- Community housing associations and providers
- Other not-for-profit housing providers and councils, and
- Property developers, superannuation funds, banks and financial institutions
The Housing Australia Future Fund Facility (HAFFF)
The Housing Australia Future Fund Facility (HAFFF) and the National Housing Accord Facility (NHAF) are initiatives administered by Housing Australia and led by the Federal Government to improve housing outcomes for Australians.
Collectively, they will support the delivery of 20,000 new social and 10,000 new affordable homes across Australia over five years.
Over the 5 year program roll out, it is anticipated that there will be multiple HAFF and NHAF funding rounds.
National Rental Affordability Scheme (Homes fully tenanted)
A partnership between the Australian and state governments to invest in affordable rental housing for low- and moderate-income earners. The properties are owned and managed privately by non-government organisations.