A new not-for-profit real estate agency has been launched to drive investment in and supply of affordable housing in the “most difficult housing market in Australia”, Pro Bono News reports.
HomeGround Real Estate Sydney (HomeGround Sydney), is a spin-off of the successful HomeGround real estate social enterprise founded by Launch Housing in Victoria four years ago, and marks the first interstate franchise for the model.
It was launched by community housing provider Bridge Housing and has already signed up more than 14 properties.
Bridge Housing CEO John Nicolades told Pro Bono News housing affordability was a huge issue in Sydney, and he was excited to launch HomeGround after a long period of preplanning.
“With fewer than 1 per cent of private rental homes in greater Sydney affordable for people on low incomes and homelessness growing at the rate of 27 per cent per year, this initiative is sorely needed,” Nicolades said.