CONSTRUCTION STIMULUS ANNOUNCEMENT STATEMENT
4 June 2020 Commenting on the HomeBuilder stimulus package, Scott Langford, CEO of SGCH, NSW’s largest community housing provider, said:
Social and affordable housing is not just bricks and mortar, it is essential infrastructure for a well-functioning society and economy. We look forward to the detail of the announcement of the Government’s HomeBuilder stimulus package to see if it could be expanded to offer opportunities for community housing providers to leverage funding for maintenance upgrades, and we remain optimistic that the Government recognises the burgeoning opportunity to innovate in the form of infrastructure investment. With Australia now officially in recession our Government can’t ignore those most vulnerable in social housing, and those key workers in affordable housing who have battled tirelessly on the frontline during COVID-19.
As the largest community housing provider in NSW we have successful partnerships that are delivering long term economic and social impact, and we are ready to do more. Now is the time for Government and the private sector to work collaboratively to invest in, and improve our social housing infrastructure. We are keen to see a willingness from Government to work with providers like SGCH to develop an investment proposition that attracts private capital, creating a multiplier effect.
This is a once in a lifetime opportunity for investors and the fundamentals are in place to attract institutional investors supported by their own investors with a strong social conscience. Social housing as an asset class offers the benefits of low-volatility, long-term demand and is highly regulated.
If Government gets the settings right, Australian private capital, including our $3 trillion super funds and other larger institutional investors, will have an opportunity to invest in this valuable social infrastructure.
Media contact – Head of Corporate Affairs and Communication Michelle Moore-Fonseca | 02 9001 4303