Social enterprise Homes for Homes has launched its first-ever funding round for projects that increase the supply of social and affordable housing, with $500,000 up for grabs, Pro Bono News reports.
Homes for Homes (HFH) is an initiative of The Big Issue, established to create a new and sustainable funding stream for social and affordable housing in Australia.
The organisation raises funds through donations from property sales, with homeowners and property stakeholders voluntarily registering with HFH and agreeing to donate 0.1 per cent of their property’s sale price to the initiative.
This legal mechanism remains binding on registered property titles, ensuring donations are collected each time the property is sold.
On Monday, HFH released $300,000 of funding in Victoria and $200,000 of funding in the ACT, which HFH CEO Steven Persson said was a significant milestone for the social enterprise.
“With initial support for Homes for Homes far exceeding our expectations, we are delighted to release the first funds ahead of schedule,” Persson said.
“Everyone has the right to safe and secure accommodation, yet we know more than 105,000 people are without a home and 1.5 million households live in housing stress. No one government, organisation or individual can close this gap alone.
“Thankfully, as the response to Homes for Homes has shown, there’s an enormous appetite in the Australian community to collectively fix this problem.”