Civitas Solutions recently completed the Afforable Housing Feasibility Study for Key Worker Accommodation for a Joint Working Group of four Councils in South East South Australia. The Feasibility Study was funded by a grant from the Local Government Association of South Australia. The Feasibility Study confirmed that the Civitas Solutions Affordable Housing Model significantly reduced the cost of new housing in regional Australia. There is a high demand for new owner occupier and rental housing in regional South Australia. Supply does not meet demand due to the difficulty of obtaining bank finance for new regional housing developments. In short there is chronic unaddressed market failure in regional Australia due to the inability of supply to meet demand.
The Civitas Solutions Model directly addresses the problem of banks lending criteria requiring new housing deposits in regional Australia of up to 50%. The Civitas Solutions Model potentially meets the banks lending criteria and reduces the deposit for new housing in regional Australia to the equivalent of the deposit required in capital cities. Civitas Solutions looks forward to working with local government in South Australia to increase the supply of owner occupier and rental housing in regional South Australia.