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Online property changes the course of Australia’s housing crisis

Online property changes the course of Australia’s housing crisis

Digital revolutionists Property Exchange Australia (PEXA) recently partnered with not-for-profit Homes for Homes to transition its donation channel online

In short, homeowners now have the opportunity to register their property with Homes for Homes. Each time the property is sold, 0.1% of the sale price is donated to Homes for Homes and all funding goes towards building social and affordable housing for those in need.

Despite Australia’s booming property economy 116,000 people are homeless each night. There’s a chronic shortage of 200,000 homes and more than 1.5 million households live in housing stress. Homes for Homes’ long-term plan is to tackle these problems through voluntary donations from property sales – and it’s projected to raise $1.8 billion of new funding over 30 years. PEXA facilitates these generational donations by giving the not for profit a home on its digital platform.

South Australia is the first state to launch this new online capability. Corrs Chambers Westgarth, one of Homes for Homes’ four pro bono law firms*, has now registered the first property with Homes for Homes using PEXA – aided by South Australian law firm, Finlaysons Lawyers.

Pioneering Australia’s first digital Homes for Homes transaction were homeowners, Fairlie Delbridge and Darren Bilsborough, and their property in Glen Osmond, Adelaide.

“We’re excited to have led the way with an initiative that will become ‘the norm’,” Fairlie shared. “It is a privilege to be the first homeowners to register our property with Homes for Homes in South Australia via the PEXA system.” 

“Homes for Homes gave us an opportunity to be a part of a community initiative that multiplies one person’s effort. I love that everyone’s little contribution, when combined, has the capacity to create profound change. I encourage everyone to get involved.”

Steven Persson, Homes for Homes CEO said its partnership with PEXA enables Homes for Homes to take its first step into the digital era.

“Integrating Homes for Homes in PEXA’s technology will help ensure that it’s simple for people to make a meaningful contribution towards social and affordable housing in Australia,” Steven said.

“We are proud to be working with PEXA and providing an opportunity for the entire community to tackle Australia’s housing crisis by raising funds through donations from property sales.

Several developers, including Grocon and Capital Airport Group, are actively involved in Homes for Homes and are registering their upcoming developments.

Homes for Homes not only gives the developer market a unique opportunity to give back to the community but also the ability to do so with ease and in bulk via the PEXA platform.

“The PEXA team are excited to be part of Homes for Homes’ mission and to support its initial transition to an electronic solution,” said Mike Cameron, PEXA Group Executive, Customer & Revenue. “Online property has the capacity to have an intrinsic effect on Australia’s housing crisis. We look forward to releasing the same functionality across the rest of the states and working with Homes for Homes in changing the landscape of Australia’s growing social crisis.”

 

How Homes for Homes Works

 


*Homes for Homes pro bono legal firms: Clayton Utz, Corrs Chambers Westgarth, Herbert Smith Freehills and MinterEllison
 

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