Homes for Homes, established by The Big Issue, tackles Australia’s chronic shortage of 200,000 social and affordable homes by raising money through donations from property sales. Individuals or developers can register properties for a tax deductible donation of 0.1% of the sale price of a property, with a disbursement made at settlement.
A registered property remains ‘in’ Homes for Homes when it is sold, facilitating a 0.1% donation of the sale price at time of sale by subsequent home owners. Importantly, as a voluntary initiative, the home owner can withdraw a registered property (‘opt-out’) from Homes for Homes at any time.
Funds are invested in housing projects in the state or territory in which they were raised. An independent assessment found Homes for Homes has the potential to raise more than $1.8 billion over 30 years.
Homes for Homes has announced its first-ever funding recipients with $300,000 awarded to social and affordable housing projects in Victoria and a further $200,000 awarded in the ACT. Women’s Property Initiatives, HousingFirst, Habitat for Humanity Victoria and Housing Choices Australia will share in the Victorian funding.
Homes for Homes Media Release
Find out more about how Homes for Homes works here.