Key issues in the social and affordable housing sector
Hall & Wilcox Partner and Co-lead Social & Affordable Housing Katrina Reye discusses the key issues we are seeing in the sector. These include supply and demand, increased housing prices and the end of a number of government schemes.
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The biggest issue in social and affordable housing relates to supply and demand, recent economic trends like the substantial increase in house prices and the end of a number of government schemes that have created additional affordable housing stock, like the NRAS scheme, has simply meant that we need even more supply and the demand is even greater.
Hall & Wilcox do have very strong expertise in the project space, so we act for community housing providers and their joint venture partners in relation to government tender projects aimed at the creation of more stock.
We also have very specialised experience in the banking and finance sector.
We have strong expertise in NHFIC refinances. In addition, we also do a lot of employment work for community housing providers.
In relation to the federal election, I think the key issue for this sector is really going to be what happens with the NHFIC.
NHFIC was an entity that was created by the Liberal Government and so coming into the election there will be some uncertainty relating to what will occur with the NHFIC after the election.
One of the things that key industry associations are really looking for is to see funding in this sector, creation of additional stock, new stock, in the areas of social and affordable housing don't really happen without government stimulus and government funding.
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