In a significant step towards increasing affordable housing, a new not-for-profit real estate initiative will be launched with start-up funding from the City of Sydney, aimed at addressing homelessness in the inner city. This development coincides with the release of the City’s latest street count data on homelessness.
Community housing provider Bridge Housing has secured $100,000 from the City of Sydney to establish a real estate agency that will partner with private landlords to offer affordable rental housing to those in need. This initiative is part of a broader strategy by the City, which has allocated approximately $24 million for affordable housing projects. These projects include partnerships with non-government organisations such as the Salvation Army, HammondCare, and St George Community Housing, alongside the sale of land to City West Housing in key areas like Harold Park, Green Square, and Alexandria.
Lord Mayor Clover Moore highlighted the urgent need for action, pointing to the overwhelming number of individuals waiting for social housing. “More than 60,000 people are on the state’s social housing waitlist, some for up to 10 years. Many are left with no other option,” she said. “Housing affordability is at a critical juncture, especially in the inner city. We’re prepared to collaborate with the NSW Government to address this crisis, but their support is crucial.”
Through a series of grants and other initiatives, the City is already contributing over 1,800 affordable housing units to Sydney’s overall supply.
Homelessness Data Highlights Ongoing Challenges
The City’s most recent homeless street count, conducted in the early hours of August 15th, identified 386 individuals sleeping rough across the inner city. This data underscores the persistent need for more affordable housing and support services.
State-funded crisis and temporary accommodations were recorded at 86% capacity, with 600 individuals utilizing these services—438 in crisis accommodations and 162 in temporary housing.
Daryl Smith, a volunteer and advisor for the City of Sydney’s homelessness program, knows firsthand the difficulties of life on the streets. Once homeless himself for nearly 25 years, Daryl now advocates for continuous housing support. “People need housing with ongoing support, not just for a few months. The support needs to be consistent,” said Daryl. “I get involved with the street count because I’ve been there, and I want others to see that change is possible.”
Innovative Housing Models Lead the Way
The Bridge Housing model, backed by the City of Sydney, offers private landlords the option to rent their properties at market, reduced, or philanthropic rates. In return, landlords may be eligible for tax deductions on the rent foregone, pending approval from the Australian Taxation Office.
This approach is expected to increase affordable housing availability, with reduced rent properties contributing directly to affordability while market-rate properties generate income for Bridge Housing to reinvest in their mission.
This initiative is inspired by the successful HomeGround model from Launch Housing in Melbourne, which has successfully managed over 200 properties.
John Nicolades, CEO of Bridge Housing, expressed enthusiasm for the project: “This new model allows private landlords to play an active role in generating affordable housing. With our experience in managing social and affordable housing, we’re excited to work with the City of Sydney to bring this vision to life.”
The City’s commitment to affordable housing is also evident through various strategies, such as development contribution schemes, land sales at subsidized rates, grants, and planning controls. Together, these efforts are set to deliver over 1,800 affordable and diverse housing units across Sydney.
