Funding announcement a game changer

Launch Housing has welcomed today’s announcement from the Victorian Government of funding to increase Victoria’s social housing supply and support the increased development of an affordable housing industry.

“The suite of initiatives announced today, including the $1 billion Social Housing Growth Fund is the most significant long term commitment to addressing the housing crisis that Victoria has seen in many years,” Launch Housing CEO Tony Keenan said.

“We congratulate the Andrews Government for playing a strong leadership role in addressing the housing affordability crisis.

“This is a game changer, because the funding is in perpetuity and guarantees an ongoing funding pipeline to drive the construction of new affordable housing, and provides rental subsidies for those needing short term support.

“This long term view is a welcome shift from the stop start approach that has characterised homelessness funding for years,” Mr Keenan said.

“It is particularly significant that this funding focuses new housing on those in the greatest need, with the requirement that 75% of tenants must come from the priority waitlist.

“This much needed funding will assist many people in Melbourne and across the state who are really struggling,” Mr Keenan added.

Launch Housing supports over 18,000 households annually of people who are experiencing or are at risk of homelessness.