Increase in the number of properties managed by HomeGround Real Estate
Summary
- Our social enterprise HomeGround Real Estate continues to build its portfolio of properties with all profits invested back into Launch Housing’s programs and services.
- 357 properties managed by HGRE
- 3% increase (10 properties) since last year
Analysis
Our social enterprise allows us to invest profits back into our services while providing huge benefit for community
HGRE is a for-purpose real estate agency — the social enterprise arm of Launch Housing. We have an impactful and sustainable business model that delivers a financial return and community value. The model allows us to invest profits back into our services while providing huge benefit for community.
HGRE’s benefits to community are significant, providing affordable rents to Melbournians.
Of the 357 properties managed by HGRE, 140 homes are provided for very low to low-income households. There are 170 adults and 114 children residing in HGRE affordable and subsidised housing portfolio.
Our model also enables socially minded property owners to contribute to community impact by offering their rents at below market. 40% of properties are offered at below market rent, providing much needed relief amid the cost of living and rental crisis.
Homeowners more satisfied with HGRE than mainstream real estate agencies
With our socially minded business practices and the care with which we manage our properties, it’s no wonder homeowners choose us over mainstream real estate agencies.
This year, HGRE engaged an independent consultant to undertake a Customer Satisfaction Survey of HGRE rental providers. The Survey found that those who had properties managed by HGRE were more satisfied when compared to those managed by mainstream real estate agencies. Twice as many rental providers said they were ‘highly satisfied’ with HGRE compared to other agencies.
Looking ahead
We are refreshing our HGRE Strategy in the new year. We will analyse trends and emerging markets and identify new priorities for the coming years. Our key focus is to ensure that our social impact model continues to deliver benefits to individuals, communities, Launch Housing and government.
