Evolve Housing, one of the largest not-for-profit national Community Housing Providers in Australia, has launched a new for purpose real estate agency called Echo Realty, a new division designed with a difference to serve the growing demand for affordable housing solutions in NSW.
Speaking at the official launch this week, Member for Parramatta, Dr Geoff Lee MP, said, “Affordable housing is a significant issue in NSW and we need to work with the community and industry to find real solutions. Most people agree we need to increase supply of affordable housing. I commend CEO Andrea Galloway and Evolve Housing for leading in innovation in this area. This new initiative demonstrates their dedication and commitment to driving better outcomes and to helping people achieve independence.”
Recent opinion polls show rising community anxiety over the cost of housing, with the latest Ipsos Issues Monitor placing housing among the top concerns in NSW.1 Given the median price for a separate house in Sydney has climbed more than 80 per cent in the past five years,2 affordable housing solutions must be found.
To help tackle this issue, Echo Realty say the will reinvest its profits back into growing the supply of affordable housing stock and support programs which empower disadvantaged individuals to reach greater independence.
Often confused with social housing, affordable housing provides cheaper rental accommodation for low to moderate income earners. Affordable housing tenants are often key workers providing essential services to the public sector, but struggle to buy or rent on the wages they earn. A failure to provide homes that key workers can afford will lead to teachers, nurses and emergency service workers leaving our cities.
The Echo Realty team, led by CEO Andrea Galloway, has extensive experience in general property management and will focus on the management of affordable housing properties on behalf of local and state government, property developers and private property investors.
“Unlike traditional real estate agents whose sole objective is to generate profits, Echo Realty is uniquely positioned to do property differently. Our focus on creating thriving communities means we deliver high quality outcomes for the property owner, the tenant and the local community,” said Ms Galloway.
“Affordable housing gives low to moderate income workers the opportunity to find affordable accommodation close to where they work, without forfeiting their ability to possibly save for a house deposit or a private rental arrangement.
“Through our services, we want to change the perceptions of those in the community who oppose affordable housing developments. After all, it could be their own children that may have to rely on it as house prices continue to soar. It’s my belief that Australians cannot afford to not support affordable housing. With the support of Government policy and everyone in the community, affordable housing can be a win-win for all stakeholders.”
Notes
1 http://ipsos.com.au/wp-content/uploads/2017/07/Ipsos-Issues-Monitor-Apr-to-Jun-2017-National.pdf
2 http://www.smh.com.au/comment/smh-editorial/a-lot-rides-on-how-sydneysiders-react-when-the-housing-boom-ends-20170919-gykmdt.html
