Affordable Home Ownership for Women: Citi Foundation backs Global Sisters' 'Little Green Houses' initiative

November 27, 2024: Global Sisters, a national not-for-profit that has supported nearly 7,000 Australian women through self-employment, is launching a groundbreaking pilot to provide an affordable pathway to home ownership for women facing housing instability.

The 'Little Green Houses' pilot, will see Global Sisters build small, architecturally designed, energy-efficient modular homes in regional locations, including proposed locations of Geelong and Armidale. These homes will be offered to at-risk women via low-interest mortgages.

Backed by a US $500,000 grant from Citi Foundation, the model will not only deliver housing but also enables asset ownership, creating stability and helping to prevent cycles of poverty for participants.

The pilot aims to bring affordable home ownership within reach for women on low incomes - particularly single mothers, women who have experienced domestic violence, and those reliant on welfare support. These women will also be given access to Global Sisters' programs to encourage flexible income via self-employment.

Global Sisters were the sole Australian recipient of the Citi Foundation's Global Innovation Challenge, which awarded 50 grants of US $500,000 to organisations tackling homelessness worldwide.

Mandy Richards, Founder and CEO of Global Sisters, said, "this is a crucial next step. We know the affordable housing system isn't working for many women who have been locked out of traditional home ownership, and we're providing a direct solution by putting homes and assets into the hands of those who need them most. As the housing crisis intensifies, our model will deliver both economic security and housing stability to those who need it most."

The pilot draws on the experiences of women like Diana, Cleonie, Suzie, and Angie, who, like many other Australian women, face significant challenges to achieving housing and economic security.

• Diana, a domestic violence survivor, lived in her car with her son after escaping a life threatening situation. "If there had been a housing option available, we could have left much sooner," she shared. Access to affordable home ownership offers the stability needed to rebuild her life.
• Cleonie, a First Nations woman, grandmother and carer to her grandchildren has rented the same apartment for over 30 years without stable income for long enough to secure a deposit and mortgage. She believes, "A flexible, rent-to-own option should be a standard offering-it would fix the housing crisis."
• Suzie, a widow left solo mother and approaching 50, feared homelessness as she approached retirement without assets. Secure home ownership achieved at 58 provides her a chance to live with housing security.
• Angie, also a solo mother and domestic violence survivor who lives with a disability as a result of a workplace injury, has lived in the same rental for six years. Recent rent increases leave her with very little to cover other expenses, which is unsustainable for her family, as close to 70% of her disability pension is going to rent.

As Richards emphasised, "the fundamental piece in women's economic security before income generation is stable housing and ultimately financial assets. We're here to enable lasting economic security by making home ownership a possibility for women who have never had this opportunity."

Further support from government and philanthropy will be sought to launch this pilot project in two different regional areas during 2025.

With housing costs at an all-time high and affordable rental and purchasing options scarce, local councils, corporate partners, and philanthropic supporters are invited to join this transformative initiative and create real impact for women. To learn more about supporting this project and contributing to lasting economic security for women, visit globalsisters.org.