The latest figures from the Australian Bureau of Statistics’ Survey of Income and Housing 2017/18 show rates of home ownership continue to decline. According to the survey, 71.4 per cent of households owned a home in 1994/95 but this dropped to 66 per cent in 2017/18. It is also 2 per cent less than in 2015/16 when 68 per cent owned a home.
In particular, declining housing affordability is impacting young people’s rates of home ownership. Four years ago, 12.8 per cent of the 15 to 24-year-olds surveyed owned a property. This has dropped to 9.6 per cent. Home ownership among 25 to 34-year-olds has also dropped, from 38.6 per cent to 36.8 per cent.
This decline, driven largely by affordability is addressed by the delivery of quality housing, young families can afford, in the right locations.
The Cooperative has identified key locations where shortfalls are significant and is delivering affordable housing for these areas.
Across parts of Australia, the dream of purchasing a home for many has been lost. But, it shouldn’t have to be.
We have been established to create opportunities to help communities across Australia address affordable housing shortfalls in their communities.
This include creating more than 350 homes for families in Gouldburn, New South Wales and more than 145 homes for families in Beaudesert, between Brisbane and Sydney.
The Cooperative will continue to identify and deliver project across New South Wales, Queensland and Victoria into the future to drive home ownership for families looking to buy their own home.
It is often the case that Investors do not have the funding capability to undertake development projects of this scale with their own funds, without creating diversification risks within their portfolio.
This Offer also provides Investors with the benefit of being able to access the project financing capability of the Project.
Time restrictions and expertise gaps can provide barriers for Investors to negotiate and structure transactions with experienced developers.
A considerable level of technical knowledge and experience is required to assess opportunities, manage tax and legal risks, monitor investment funds; manage licensing requirements and manage the performance of the Project.
Time restrictions can also prevent Investors from undertaking the required due diligence in areas such as location research; specific site research and due diligence; and developer history.
MaxiLife has undertaken these activities on behalf of Investors.
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