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ABOUT THE NDIS

An investment opportunity Like no other


THE NDIS

Properties Enrolled as Specialist Disability Accommodation with the NDIS are
eligible to have the rent paid by the NDIS for eligible participants.


NDIS PARTICIPANTS

Tenants are NDIS Participants eligible for accommodation support who have, or
whose guardian has, chosen to live in one of the properties we manage


SDA PROVIDER (HORIZON)

Horizon is an approved SDA provider under the NDIS.  We manage the relationship
between property owners and the participants.


HOUSING SHORTAGE FLAGGED AS BIGGEST HURDLE TO NDIS

A shortage of appropriate housing for people with disabilities could become the
biggest obstacle to the successful implementation of the National Disability
Insurance Scheme, according to a new study.
Read in Sydney Morning Herald



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HOW THE NDIS IS USING THE MARKET TO CREATE HOUSING FOR PEOPLE WITH DISABILITY

Housing for people with disability is being transformed from grants-based
funding to a market-based system where people with disabilities control their
own funding. This market has the potential to grow in size by around A$5 billion
over the next five years in the National Disability Insurance Scheme (NDIS).

PwC and the Summer Foundation recently released a paper called NDIS Specialist
Disability Accommodation: Pathway to a mature market. The paper provides a
vision of a mature, properly functioning disability housing market and outlines
the pathway to reach it.

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Further reading: NDIS housing rules for people with a disability could be
life-changing

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THE IMPORTANCE OF GETTING THIS MARKET TO WORK

Creating housing is one of the most important tasks for the NDIS. It’s
especially important for the young people living in aged care and the adults
with disability living with ageing parents.

More than 6,200 young people are living in aged care, with 2,000 young people
entering aged care annually. In some parts of the country, young people occupy
more than 20% of all aged care places.

The NDIS has the resources and mandate to fix this problem through
the Specialist Disability Accommodation (SDA) payment policy. The NDIS has an
annual recurrent budget of $700 million for SDA. This housing funding is
designed only for people under 65 with very high disability support needs. This
equates to around 6% of NDIS participants – 28,000 people.

 
Author provided

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Further reading: To get young people out of nursing homes, we need to back up
the NDIS with housing – here’s how

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The SDA policy is ambitious. The value of all SDA properties across Australia is
expected to total around $11.5 billion. The breakdown would be:

 * $2.5 billion to create housing for the 6,000 young people in aged care;

 * $2.5 billion to create housing for others with unmet needs for SDA; and

 * $6.5 billion to replace, refurbish and manage disability housing stock that
   existed prior to the NDIS.


HOW THIS MARKET WORKS

The PwC and Summer Foundation paper provides a vision for how this market will
operate once it is mature.

The report shows how funding for housing provided directly to people with
disability creates a user-driven market. People with disability will be
empowered to decide where they live and who they live with.

NDIS participants with high support needs will receive annual funding to pay for
the cost of their housing. The SDA payment is calculated based on the dwelling’s
location, size and level of accessibility. The housing payments are designed to
cover the costs incurred in providing the bricks and mortar and offer a return
on investment at market rates (5-12%).

Critically, the provider bears the vacancy risk should they fail to find a
tenant – only when the dwelling is occupied are SDA payments made. In this
competitive SDA market, housing providers will compete to deliver the best
outcomes for tenants, which include being close to shops and transport.


PROGRESS OVER THE PAST YEAR

The government and the National Disability Insurance Agency (NDIA), which
oversees the NDIS, have done a tremendous job in setting up this new funding
stream. The new SDA rules under the NDIS Act took effect in March 2017. We are
moving from policy design to implementation.

We now need to make sure that this well-funded and well-designed SDA payment
delivers new housing on the ground.

The market is responding, with NDIS housing being built in cities across
Australia. Large retail banks and superannuation funds are reviewing SDA
transactions. Large developers are including SDA builds in some new
developments.

Summer Housing (Summer Foundation’s sister entity) opened ten new SDA apartments
in the Hunter Region of New South Wales in mid-2016. Contracts were recently
signed for another ten apartments designed for people with disability throughout
a 77-apartment development built by Grocon in Fairfield, Melbourne.

Summer Housing aims to build 300 apartments through SDA – meeting the needs of
less than 5% of all young people in aged care.


Summer Housing has opened ten new SDA apartments in the Hunter region.


WHAT WILL IT TAKE TO MEET THE NEED MORE QUICKLY?

Over the next five years, 16,000 new or refurbished SDA places are needed.
Around 650-700 new SDA places were created or commissioned in the past 12
months. Only 250-300 of these are for unmet demand. The remaining 400 are to
rebuild existing, outdated government disability housing stock.

The market needs to reach scale more quickly. The NDIA and government need to
listen to and actively steward this fledgling market.

The government sector can do three things to accelerate progress toward a mature
market:

 1. The federal government can provide certainty to the market about how long
    these prices are guaranteed for and how any price reviews occur.

 2. The NDIA can provide regular and good-quality information on demand for SDA.

 3. Local and state governments can mandate targets for SDA in major
    developments.

Beyond these actions, there is the potential to link SDA with the federal
government’s commitment to support a strong Social Impact Investing market in
Australia. Social impact investments generate measurable social outcomes, while
delivering a financial return to the investor.

Robust evaluation and evidence-based decision-making are integral to social
impact investing. The NDIS approach will provide solid evidence that
well-located housing with accessible design and technology will increase the
quality of life and independence of NDIS participants, thereby reducing the
NDIS’s lifetime care costs and liability.

The SDA market has the potential to demonstrate how government can leverage
large amounts of capital from superannuation to fund other forms of affordable
housing.

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Further reading: The forgotten 660,000 locked out of home ownership

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LAYING THE FOUNDATION FOR A REVOLUTION

For people with the highest levels of disability, the NDIS housing payment will
bridge the gap between what people with disability can reasonably afford and the
cost of building highly accessible housing.

This policy lays the foundation for developing the range and scale of housing
needed to resolve the issue of young people in nursing homes in Australia.

The next step is for government to work with stakeholders in the market —
including investors and the housing sector — to create the revolution in housing
that Australians with a disability and their families have been waiting for.

Written by Di Winkler, George Taleporos, Luke Bo’sher for The conversation under
Creative Commons licence



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