The Results
- Property reviews: Over the 12 months to June 30, HOPE reviewed 43 properties, supported 17 purchases, rejected 11, and passed on 15 that were subsequently sold above fair value.
-
Efficient process: HOPE’s Buy Well Program ensures no delays for essential workers. Approved homebuyers are securing homes on average within three months, with HOPE reviewing 2.5 properties per buyer during this period.
HOPE chief executive officer, Tim Buskens, said the results emphasised the strategic importance of the HOPE selection process.
“Our approach highlights the significance of selecting where to invest and at what price just as much as understanding what to reject,” he said.
Tim Norton, a recent investor in HOPE, praised the fund’s approach: “Investing through HOPE has significantly simplified the process of getting into residential real estate. The model streamlines the investment journey, allowing me to support essential workers while enjoying strong returns. It’s a game-changer for anyone looking to invest in property with ease and impact.”
Buskens added, “We’re pleased to witness firsthand how our fund is transforming lives and delivering results that exceed our projections. The future is promising as we continue to expand our impact with new applicants currently in market looking for homes to buy.”
Addressing a Critical Need
The HOPE model was launched in response to mounting evidence that workers who provide critical essential services in Sydney are struggling to afford to buy a home near to where they work. This leads to long commutes, workers living in housing stress and unsuitable housing, and experienced workers looking to relocate to more affordable areas, all of which present significant risk for important public services.
Supporting Essential Workers
Since commencing in October 2022, HOPE has now supported the acquisition of 17 properties across 15 suburbs in Greater Sydney in partnership with 26 essential workers.
“We are demonstrating the effectiveness of our home ownership program in transforming the lives of essential personnel, including police officers, nurses, teachers, and social workers. This initiative not only secures their living situation, but also reaffirms our commitment to supporting those who serve our community,” Buskens said.
The HOPE shared equity initiative co-invests up to 50 per cent of the home purchase price for essential workers, enabling Australian essential workers to achieve homeownership while allowing investors to unlock the financial benefits of a diversified investment in the residential property market.
There are currently more than 3,000 essential workers on the HOPE waiting list. For more information on investment opportunities, please visit: https://hopehousing.com.au/for-investors.
