NEWS
AURECON
Aurecon recently set out to look at ways that they can help its staff enter the housing market .
People-centred housing strategy to address ‘ missing middle ’
Aurecon recently set out to look at ways that it can help its staff to enter the housing market sooner and without restrictive affordability barriers .
Property is a door to wealth creation . With property , you can secure your future and leave a legacy . How many people want to be homeowners , but don ’ t have the means to get into the property market ? Are there people who qualify for certain subsidies but simply don ’ t realise it ?
These were the questions posed to young professionals at global engineering and infrastructure advisory company Aurecon , that set out to look at ways they can help Aurecon staff enter the housing market sooner and without the restriction of affordability barriers .
The strategy that Aurecon came up with , which they call ‘ The Great Commission ’, leverages existing financing options in South Africa to help employees classified as the ‘ missingmiddle ’ enter the housing market , as well as assist young people with early access into the housing market . The ‘ missing-middle ’ are those people who don ’ t qualify for subsidised housing , but also do not earn enough to qualify for a home loan .
Aurecon employees have been instrumental in designing and bringing client ’ s building dreams to life , and through the Great Commission initiative those same employees will have the opportunity to make their own building dreams a reality by owning their very first house .
“ We realise that housing is a big challenge across a number of demographics in South Africa , and The Great Commission ’ s goal is to bring information to those that need it most and continue working to establishing additional benefits ,” says Nothando Khumalo , Aurecon junior engineer .
“ Millions of South Africans live in shacks and while government has implemented the RDP , this subsidy targets households earning less than R3 500 . The qualifying criterion leaves a massive gap of individuals – the ‘ missing middle ’ – who are ‘ too well-off ’ to qualify for RDP housing but ’ not so well-off ’ to qualify for a home loan ,” says Khumalo .
Many low-to middle-class people in South Africa are stuck between a rock and hard place when they realise that not only do
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SEPTEMBER - OCTOBER 2018