HOPE Housing reports significant wellbeing improvements for essential worker homeowners

HOPE Housing Fund Management Ltd (HOPE) has released a social impact snapshot revealing substantial improvements in health and wellbeing among essential workers who have recently purchased homes through its shared equity model.

Key findings from the 12-month survey to December 2023 include:

100% of essential worker homeowners report “peace of mind” regarding finances
86% feel mentally healthier after achieving home ownership
22.5% reduction in travel time to work
77% report delivering a higher level of service in their profession
69% say they are more likely to stay in their chosen profession

The survey, which assessed changes in health, wealth, family dynamics, employment satisfaction, and travel time, showed positive results across all metrics.

Tim Buskens, CEO of HOPE, said, “For a long time, essential workers have told us their commute to work and inability to break into the housing market has affected everything from their physical and mental wellbeing to their relationships with family members. To see such a vast improvement so quickly highlights the importance of helping our frontline workers secure a property close to work.”

Additional notable findings include:

92% of surveyed homeowners reported their family is happier due to home ownership
79% feel physically healthier
71% identified HOPE as playing a role in improving their wellbeing

The HOPE Housing model was created to address the growing challenge of essential workers struggling to buy homes close to their workplaces. The fund co-invests with essential workers, including police officers, teachers, and nurses, contributing up to 50% of the purchase price.

Buskens added, “Sydney and Melbourne continue to face an affordability crisis, which is putting our frontline workers under unnecessary strain, when they’re already in stressful roles. In addition to delivering strong financial results and outperforming market returns, we are proving that HOPE is a responsible investment that has a real impact on the lives of those who really matter.”

The study also included qualitative feedback, with one worker stating, “To be able to provide my little family with a stable place to live cannot be quantified! That sense of stability is beginning to have great flow on effects in all areas of life.”

HOPE’s innovative approach not only aims to improve the lives of essential workers but also generates capital growth portfolio returns that exceed those of the broader Australian residential real estate market, with significantly lower overheads compared to traditional landlord models.