More than 12,000 people have signed a petition calling for minimum accessibility standards in new homes to meet the needs of all Australians.
Building Better Homes
The Summer Foundation and La Trobe University has conducted national surveys of people with mobility impairment and occupational therapists (OTs) about housing accessibility features.
Without effective support coordination it can be difficult for younger people with high and complex needs to avoid or exit residential aged care (RAC).
A brutal assault in 2003 robbed James of his active life and studies. At 21, he was forced to live in aged care for nearly 7 years before a TV interview set his path to independent living in Specialist Disability Accommodation – first in NSW and now in Melbourne.
The Summer Foundation’s policy team has released a position statement on Medium Term Accommodation (MTA) eligibility, funding and quality.
Source: ABC Radio National with Fran Kelly | Reporter: Eleni Psaltis | Image: James Hancock
Currently there are more than 4,300 younger Australians living in an aged care facility; most of them are with disability.
But the Aged Care Royal Commission says by 2025, no one under the age of 65 should be in these facilities.
Featured:
Carol Littley, mother of Kirby Littley who lived in an aged care facility in her twenties
Dr Bronwyn Morkham, National Director of the Young People in Nursing Homes National Alliance
Stuart Robert, Minister for the National Disability Insurance Scheme
Richard Colbeck, Aged Care Services Minister
Dr Di Winkler, Summer Foundation CEO
Lisa Corcoran, former aged care resident
The key recommendations relating to younger people with disability, outlined in the newly released final report of the Aged Care Royal Commission, have been warmly welcomed by the Summer Foundation, Youngcare and Synapse.
Specialist Disability Accommodation (SDA) is well placed to meet a rising demand for impact investment products in Australia, according to the Summer Foundation’s newly released SDA Explainer for Investors.
In recent years, impact investing – investments made with the intention to generate positive, measurable social and/or environmental impact alongside a financial return – has started to attract the attention of investment banks, super funds and private sector investors.
Summer Foundation CEO, Dr Di Winkler, said there has been a significant progression from impact investment being primarily for philanthropists with an interest in a particular area or sector, to it being seen as a viable option for mainstream investment banks, super funds and private sector investors.
“One of the limiting factors for the growth of impact investment in Australia is the lack of products that have the capacity for investment at scale – the SDA market is well positioned to leverage this private capital,” Dr Winkler said.
“SDA is still somewhat of an unknown quantity for some investors.”
“The SDA Explainer provides a succinct analysis of the SDA demand and supply outlook and investment principles to support investors considering SDA investment opportunities.
“These principles relate to the properties, the quality of the new dwellings, the tenant selection process, disability support and ensuring that the investment is set up for a long term positive social impact.”
What impact investors need to know about SDA
- Since the commencement of the SDA market in 2017, there has been a steady increase in the growth of SDA supply. The most significant growth has been in the number of dwellings for people with high physical support needs with a four-fold increase. However, there is still a need for new dwellings for at least 19,000 people given the unmet demand and the need to redevelop or reconfigure most of the SDA built before 2016.
- A recent desktop scan of investment opportunities found 32 entities raising funds to build new SDA. Some of the advertised returns were unrealistic. Only a small group of funds were investing in SDA at scale. The findings of this study demonstrate the level of interest and momentum generated by the SDA market.
- A recent survey of active SDA investors provided valuable insights into the SDA market. Although there were only 9 participants, together they had provided $700 million to 13 SDA providers to house over 1,200 NDIS participants. This survey found that at this stage, the SDA market is suited to sophisticated investors with a substantial portfolio looking to diversify and interested in a long- term investment with stable returns and a social impact.
- As with any developing market and new asset class, potential investors need to do a significant amount of research to understand the risks and returns associated with each specific investment opportunity and the risks associated with the market as a whole.
Dr Winkler said that SDA, as an emerging market, has enormous potential to provide both long-term stable returns to investors, while also meeting the housing needs of people with disability.
The Summer Foundation SDA Explainer for Investors has been published on the Summer Foundation website.
The Summer Foundation 2020 Annual Public Forum was held as an online event on Thursday, 12 November, with around 300 attendees joining us via Zoom. Watch the highlights video here.
Led by Host, Beverley O’Connor (ABC News 24), our panel of policy makers, sector experts and people with lived experience of disability and contributors were able to share and discuss the positive life-changing impacts of SDA as well as some of the barriers and challenges being faced by many along the journey to SDA. We also explored what is being done to make SDA a possibility for many more people with disability.
Thank you to all who submitted questions during the forum. Some of these questions were able to be addressed directly by our panellists during the Q & A session. All have now been answered and are available for review below:
SDA Q&As
Watch the full video here:
This information was correct at the time of the event recording, but is subject to change. For information about the NDIS, please visit the website www.ndis.gov.au for the most up to date information.
DOWNLOAD ANNUAL PUBLIC FORUM TRANSCRIPT