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 (NSW) has announced a new world-wide 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.