Research, market, and policy implications of permanently affordable housing: lessons from Australian discussions about community land trusts

Abstract

As with many Anglophone nations, Australia displays a dualistic housing system dominated by private ownership and private rental, both of which demonstrate an ongoing and intensifying lack of affordability. Despite extensive public subsidisation, rates of ownership have dropped in recent years while the proportion of renters is increasing. Alongside calls for private rental reforms to make this more appropriate as a form of long-term tenure, there is growing interest in intermediate tenure forms to allow easier access to ownership, ease the pressure on the country’s marginalised social housing, and provide a greater range of options. Due to their small scale and relative newness in Australia, intermediate tenures such as shared equity, community land trusts, and housing co-operatives remain under-researched and unfamiliar, with previous research showing limited interest in shared equity products amongst potential buyers. This paper presents data from more recent focus groups amongst would-be buyers, showing latent market interest in resale-restricted products, with policy and market implications of both national and international relevance. The work also highlights a role for research in fostering awareness and understanding of such models.