Give Me Shelter is a ground-breaking report that outlines the significant costs of not addressing the chronic shortage of affordable, public and social housing in Australia.
Commissioned by Housing All Australians (HAA), the economic study shows decades of underinvestment by governments in “non-market” housing has led to social housing numbers falling to record lows – just four per cent of national housing stock, compared with six per cent in 1996.
- The national cost of failing to address the social and affordable housing shortage will be $25 billion per year by 2051 (based on present day figures), however if we invest in housing today we will see benefits of $110 billion per year.
- Therefore, the benefit-cost ratio for Australia in providing adequate social and affordable housing infrastructure is calculated at 2:1. In other words, for every $1 invested by taxpayers to induce delivery of social and affordable housing, the Australian community gets back $2 in benefits.
- Their cost benefit analysis found that WA would enjoy budget savings of $6.6 billion from investing in social and affordable housing commensurate with need.
This report provides a compelling case for significant and ongoing investment in social and affordable housing as essential infrastructure.
Read Give Me Shelter: The long-term costs of underproviding public, social and affordable housing here.