Homes for People - How Nordic policies can improve Australia’s housing affordability

There was an effort in Australia from 2007 to return the policy focus to increasing the supply of affordable rental housing, by encouraging large-scale institutional investment in rental housing to build on the role played by community providers.10 Nevertheless the general trend in the supply of affordable private rental housing to lower-income households in Australian cities has been one of stead. [...] In Denmark the rental co-operative sector now meets the housing rights of, and provides security of tenure and affordable housing for, one-fifth of the nation’s population.25 As such it deserves closer study by Australia as one of the options to tackle the serious crisis of housing affordability here. [...] Typically, the co-op member is responsible for contributing equity of around 75 to 80 per cent of the costs of the dwelling, while the housing co-operative covers the remaining costs through a collective loan often obtained on concessional terms.31 Members pay rent to the co- op, both to repay the co-op loan and cover maintenance of shared areas. [...] As the website of one of the leading participants in this effort, the Y-Foundation, succinctly states: “The most important thing is that since 1987 about 12 000 people have received a home.”39 Observers regard the creation of the Y-Foundation in 1985 as a critical element to the subsequent success of the Finnish approach to homelessness. [...] It had a diverse collection of founders that speaks to a consensus about the effort required: the Association of Finnish Local and Regional Authorities; the City of Espoo; the City of Helsinki; the City of Tampere; the City of Turku; the City of Vantaa; the Church Council; the Finnish Construction Trade Union; the Finnish Association for Mental Health; the Finnish Red Cross; and the Confederation.