A Victorian couple and their young daughter will move into the first home funded with the support of social enterprise, Home for Homes.

Jema and Romel will service the interest-free mortgage based on 95 per cent of the market value of the completed home, which they have contributed 500 hours of time to help build.

It coincides with the opening of applications for a second round of funding to housing providers by Homes for Homes and will be followed by the completion of another property next month, developed by Havelock Housing, as part of its ‘Homes for Heart’ program to provide safe and secure long term accommodation for older women in Canberra.

Homes for Homes’ Chief Operating Officer, Sally Hines, said the success of these projects showed how quickly funding can make a difference in the community. 

“These homes are tangible evidence that we are creating a long-term generational solution that is on track to generate $1 billion over the next 30 years, which works because of the wonderful support we are getting from developers like Mirvac, Grocon and Capital Airport Group, community, business, and the Federal Government," she said.

Established by the Big Issue, Homes for Homes is an independent, not-for-profit organisation designed to help solve the lack of social and affordable housing in Australia, the gap of which is projected to grow to one million by 2036.

It raises funds through donors, both individuals and property developers, agreeing to include a caveat on their property title, which enables a tax deductible donation of 0.1% of the sale price to be donated to Homes for Homes.

This funding is granted to experienced housing providers to increase supply of social and affordable housing. 

Last year, Homes for Homes awarded $500,000 to fund a range of social and affordable housing projects, including a home built by Habitat for Humanity as part of its Yea development in regional Victoria. 

Assistant Minister for Community Housing, Homelessness and Community Services, Luke Howarth said that the Australian Government understood that housing was fundamental to the welfare of all Australians.

“It is important that we direct funds to innovative programs that will improve outcomes for those most in need," he said.

"That is why we are investing $6 million in Homes for Homes," he said.

For more information, visit homesforhomes.org.au. 

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