A leading Melbourne based ethical investor called Ethical Property Investments (EPI) has launched an end to end solution to ease homelessness amongst older women and women fleeing domestic violence, while also helping small-scale investors to achieve financial security and independence. The end result is a win-win for both ends of the housing market, says director, Goro Gupta.
This unique, and critically required investment opportunity, will enable Australian property investors to invest in a growth-oriented property market, while also providing appropriate, affordable housing to
- people at risk of homelessness
- women escaping domestic violence
“Our goal is to construct 30 houses within the next 12 months,” says Goro. “The properties are investment opportunities for everyday Australians who want to channel their resources into an ethically driven solution that will assist those facing homelessness.”
“We work with community service providers and domestic violence service providers to find tenants and modify each property to suit the tenant,” he adds. “In some cases, this might mean designing a house with separate ensuite bathrooms for everyone as well as custom accessibility modifications for long term tenants as they age. Quality of outcome is paramount to our approach”
With its first property now built and tenanted in Werribee in Melbourne’s outer west, and another in Doreen in the city’s north due for completion by December 2021, Goro says this co-living property solution provides housing for vulnerable Australians facing homelessness.
“It’s about doing good while you’re making money,” says Goro.
According to the most recent census, older women are the fastest growing sector in Australia to face homelessness, due to such issues as lower wages and superannuation, family violence, age and gender discrimination and a lack of affordable housing for those on low incomes.
It is estimated that without urgent policy reform, more than 400,000 women over the age of 45 are at risk of homelessness.
Doreen Property Investors, Joseph and Lucy Phillipos added, “We have a sense of satisfaction in being able to invest in something that is ethical and contributing to the social good of our community.