Homes for Homes
Homes for Homes is a not-for-profit social enterprise that will allow Queenslanders to help drive the supply of social and affordable housing.
It was established by the same team that publish ‘The Big Issue’ street magazine and currently operates in New South Wales, Victoria, South Australia, Western Australia, and the Australian Capital Territory.
Homes for Homes aims to generate private sector revenue to invest in social and affordable housing across the state.
The Queensland Parliament is considering amendments to the Housing Act 2003 that will help donation models like that offered by Homes for Homes, operate effectively in Queensland.
How does it work?
People can choose to opt in to a donation deed committing to donate 0.1% of the price of the future sale price of their property to Homes for Homes when it is sold.
These funds are pooled by Homes for Homes with other contributions within the state to grow social and affordable housing supply and when enough funds are raised, experienced housing providers are invited to submit proposals through an open tender process.
The idea is that each time the property registered with a donation deed is sold, 0.1% of the sale price is donated to Homes for Homes.
Property owners can withdraw the land from the initiative and terminate the donation deed at any time.
The nature of this initiative means that revenue raised will increase over time. Homes for Homes expect to generate significant funds through their donation model that can contribute to increasing social and affordable housing supply in Queensland.
Visit the Homes for Homes website for more information about the initiative and projects across Australia.