Waverley council votes to address a lack of affordable housing in eastern suburbs

By DALE BARRETT

Waverley Council has unanimously voted in favour of making the purchasing of affordable housing by the council more achievable. Greens Councillor Elaine Keenan tabled a motion at an October 18 meeting regarding the lack of action on affordable housing in the Waverley LGA.  

Her motion noted that no affordable housing has been purchased by council since 2016. The need for affordable housing continues to grow with both State and Federal governments offering a commitment to develop more affordable housing.  

Waverley council’s affordable housing reserve budget currently holds $6.93 million.  

Cr Keenan told the council that Waverley “needs to be more active in it’s pursuit of properties”. Her motion also proposes that council “work to establish a partnership with a community housing provider to facilitate the provision of affordable housing”.

Cr Keenan also noted that a review of recent sales within the eastern suburbs illustrates that properties within the price of the current housing reserve are available. 

Waverley LGA “one of the most unaffordable”

A spokesperson from Bridge Housing, who has previously worked with Waverley Council to facilitate the purchase of affordable housing in the LGA, said that “The Waverley LGA remains one of the most unaffordable markets in NSW”. 

The Waverley local housing strategy report 2020m reports that the house price ratio has risen from 4 in 1994 to 12 in 2016. The house price income ratio indicates that Sydney median household income of $1,750 would need to spend 12 times their annual gross income to purchase the average house in Waverley. 

“Ensuring Councils provide affordable housing for key workers and community members is critical in keeping our cities diverse and productive” the spokesperson said. 

“In 2016, Bridge Housing partnered with Waverley Council to jointly purchase and upgrade a block of four units in Randwick. This accommodation provides much needed affordable housing for local families including two single parent families”.