Affordable Housing through Cooperative Ownership

A submission developed by Equilibrium Community Ecology Inc as an option for Gosford City Council's alternative housing strategy, November 2004.

Affordable home ownership

'Home ownership is the "Australian dream" and it also represents a good way of securing a family’s long-term financial interests. But more importantly, it has been shown to be one of the prime building blocks for a thriving, strong and healthy community. It provides a sense of security, a stake in the community, a sense of participation and equity.

Government inquiries into affordable housing in Australia, whether they be national, state or local, have concentrated on welfare rental housing. More recently, some attention has been given to ways in which private sector involvement might be used to bolster rental affordability, with a variety of options canvassed. The possibilities for making home ownership more affordable have not been explored in Australia to the same extent, instead focusing on first home owner schemes.

Affordable home ownership is an area with great potential for local government action, particularly where it can secure state government regulatory assistance.

Cooperative home ownership has particular relevance to Gosford’s circumstances. It offers another important option and can provide effective mechanisms for Council to ensure that housing projects provide long-term affordability.'

• This submission advocates the formation of non-profit cooperatives to provide affordable collective home ownership. It includes suggestions for a number of strategies, which can be supported by local government, aided by State and Federal government, to facilitate groups of local people wanting to form accessible self-help ownership collectives.
• It discusses the benefits of cooperative housing for the individual and the community;  looks at cost savings through careful design and also the sustainability advantages of cooperative ownership schemes.
  
• The document includes graphs which show financial comparisons of rental, traditional private ownership, mobile home park tenancy and cooperative ownership models. It discusses
  

Equilibrium Community Ecology Inc

Equilibrium Community Ecology Inc is a a non-profit incorporated community association whose projects have community development and ecological sustainability aims.

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For further information

Contact	:	Mark Snell
Address	:	Equilibrium Community Ecology Inc
Email	:	mark.snell@openwindows.com