A significant milestone has been reached in Council’s endeavour to address the existing housing shortages in the region.
Construction of the first Ararat Housing Enterprise home was completed last week. The newly built three-bedroom home, managed by local real estate agent Ray White Ararat, is set to welcome a new tenant before Christmas.
This initiative aims to support the demand for more affordable housing, as well as address the critical workforce shortages faced by local industries due to housing shortages, by constructing more than 40 affordable homes over the next 10 to 15 years.
It will increase the annual housing supply in Ararat by building an average of four new houses each year, retaining all homes built in the first four years of the project as rental properties. From year five of the project, four of the existing properties will be sold into the market whilst the Enterprise continues to build four new homes annually.
The Ararat Housing Enterprise is a public-private partnership between Ararat Rural City Council and a private enterprise headed by ACE Radio Network owners and Willaura farmers, Rowly and Judy Paterson.
“We're working to provide high-value housing options for Ararat residents,” says Mr Paterson. “This standardised housing model offers flexibility, whilst ensuring that each home falls within an affordable range.”
Under its 2024/25 Budget, Ararat Rural City Council allocated a contribution of $500,000 towards the initiative as part of an ongoing commitment to support the supply of affordable homes in the Ararat and surrounding areas.
"By investing in the construction of affordable housing we’re supporting our local businesses to attract and retain the skilled workforce they need to succeed,” says Ararat Rural City Council CEO, Dr Tim Harrison. “This long-term investment will ensure a sustainable future for our community, as well as drive economic growth in the region.”
Image L - R: Rowly Paterson, Ararat Rural City Council CEO Dr Tim Harrison.
