affordable housing development models - City of Port Phillip

Unfortunately the previous legacy of other state government backed home
ownership schemes has resulted in the larger eastern states remaining cautious and
very reluctant to move into this area despite considerable research and
development.
Community Land Trusts are an innovative model which has the capacity to provide
very significant outcomes for low to middle income households. These structures
managed on a not-for-profit basis need resourcing to consult and develop a CLT kit
which will have applicability across a number of jusrisdictions. Local government
could play a driving role in the development of this kit before working with a
potential CLT to identifying a site to demonstrate the capacity of a CLT to operate in
the Australian context.
It would appear that one of the most productive ways forward is leadership at a
national level to lead policy and legal framework for shared equity schemes. Local
Government has an opportunity to facilitate and provide national leadership
through continued advocacy. Once established then local government could become
an active participant in encouraging such schemes through its planning powers.
Establishing housing affordability targets for new developments at the point of
change of use and/or development approval would make it possible for the uplift in
land value that is generated by such approvals to be captured as an equity share in
property. If Councils were prepared to consider this approach then they might, in
conjunction with a nationally accredited shared equity home purchase scheme,
facilitate many young families into home ownership.
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