New international review shows what Australia can learn from the rest of the world about fixing the housing crisis with co-operative housing
Common Equity, a not-for-profit organisation in Australia, is the only housing provider in NSW that delivers housing cooperatives. It has announced a new worldwide study to identify the extent and value of housing co-operatives around the world.
The research, commissioned by Australia’s Peak Co-op Housing Bodies; ‘Articulating Value in Co-operative Housing’ was undertaken by researchers from Western Sydney University and the University of Newcastle. It analysed existing research in a dozen countries. The findings point to the significant benefits of Co-operative Housing Models. For example:
- Cost Savings: up to 14% lower capital and operating costs under the co-operative model
- Social Capital: Stronger social networks and sense of community – higher than any other form of housing Health & Wellbeing:
- Widespread reports that living in a housing co-operative provides a greater sense of physical, emotional, mental health and well-being Resident Satisfaction:
- Widespread reports of lower costs, high-quality homes with better security and housing stability.
Their research found that “The existing research indicates numerous potential benefits created by cooperative housing in many countries. This gives us a solid starting point for identifying the extent and nature of the value created by Australia’s housing co-operatives, including the value generated by the people who live in co-operatives” says Louise Crabtree, Senior Researcher, from Western Sydney University.
Click here to read their media release. The full Research Report for Stage One will be released in mid-late August 2018. A second stage of the research is expected to commence by the end of 2018 and will quantify the extent to which co-operative housing delivers value in the Australian context.