New Campaign Supporting Women 55+ at Risk of Homelessness

A new campaign is sponsoring access to safe and affordable housing for women over 55 facing homelessness. The campaign – Project 55 – aims to attract 55 new property investors to sign up with Elevate Residential over the next 12 months, with 100 percent of the profits from property management fees they pay sponsoring older women in dire housing to achieve better housing outcomes.

Project 55 will provide stable housing for women at BHC’s property at Alford Street, New Farm. The units are currently undergoing refurbishment and will be ready for their new occupants in late 2023.

Rebecca Oelkers, CEO of BHC, said Project 55 was an innovative approach to the current housing crisis, encouraging property owners to stop and think about how their property management fees could be used for good.

She said women aged over 55 are the fastest growing cohort of homeless Australians, with as many as 240,000 women in this age group, facing homelessness every day.

“Elevate Residential currently distributes 100 per cent of its profits from commissions to BHC to help support residents in our affordable housing,’’ Ms Oelkers said.

“Project 55 goes one step further, providing sponsorship to increase rental affordability for residents and provide personalised packages of support, enabling a wider variety of women aged 55+ in dire housing need to access safe and affordable housing at the property.

“We are asking 55 property investors to consider joining the campaign by engaging Elevate Residential to manage their properties. With Project 55, we’re encouraging them to make a positive choice about where their property management fees are going.

“Many of these older women never imagined they would end up homeless. They are mothers, friends, aunties, and grandmothers.”

Project 55 was officially launched at Elevate Residential’s recent annual Brisbane Property Market Update and will run for 12 months from May 2023.

Guest speaker at the event, CoreLogic Research Director Tim Lawless, provided an update on Brisbane’s housing market, with a focus on rentals.

“Brisbane rents have been increasing at more than 10 percent per annum since October 2021 and over the past three years rents are up 30.7 percent,’’ Mr Lawless said.

“In the past year alone, Brisbane rents have risen by 11.7 percent, adding approximately $274 a month to rental expenses. Looking at the more affordable unit sector, annual rental growth is even higher and still accelerating, up by a record amount of 16.5 percent over the 12 months to April 2023.

“Unit vacancy rates are at a record low of just 0.7 percent across the city, off the back of well below average supply of rental listings. Unfortunately, until we see rental demand and rental supply becoming more evenly balanced, rents are going to keep trending higher.’’

Chris Meadmore presenting at 2023 Elevate Market UpdateChris Meadmore presenting at 2023 Elevate Market Update

Elevate Residential’s, Principal Licensee, Chris Meadmore said the profit for purpose agency offers competitive management fees and a high standard of service to property investors.

“Elevate Residential works hard to create and maintain strong relationships with property owners,’’ Mr Meadmore said.

“It doesn’t cost property owners anything to transfer the management of their property to Elevate, but by doing so they will be supporting Project 55’s goal of sponsoring safe and affordable housing for older women.

“Project 55 is one way our clients can use their asset to contribute to positive social outcomes- knowing the profits from their management fees will help deliver better outcomes for people in the community who are doing it tough.’’

Now in its 21st year, BHC has provided more than 1,800 social and affordable homes across south-east Queensland and has an ambitious strategy to deliver up to 2,000 additional dwellings in the next five years.