Can risk management boost the supply of affordable housing development and management?

Connie Susilawati

International Journal of Housing Markets and Analysis, 2009, vol. 2, issue 4, 392-402

Abstract: Purpose - The purpose of this paper is to analyse the risk management process conducted by some private and not‐for‐profit affordable housing providers in South East Queensland, and draw conclusions about the relationship between risk assessments/responses and past experiences. Design/methodology/approach - In‐depth interviews of selected non‐government housing providers have been conducted to facilitate an understanding of their approach to risk assessment in developing and in managing affordable housing projects. Qualitative data are analysed using thematic analysis to find emerging themes suggested by interview participants. Findings - The paper finds that informal risk management process is used as part of normal business process in accordance with industry standards. Many interviewees agree that the recognition of financial risk and the fear of community rejection of such housing projects have restrained them from committing to such investment projects. The levels of acceptance of risk are not always consistent across housing providers which create opportunities to conduct multi‐stakeholder partnership to reduce overall risk. Research limitations/implications - The paper has implications for developers or investors who seek to include affordable housing as part of their portfolio. However, data collected in the study are a cross‐section of interviews that will not include the impact on recent tax incentives offers by the Australian Commonwealth Government. Practical implications - The study suggests that implementing improvements to the risk mitigation and management framework may assist in promoting the supply of affordable housing by non‐government providers. Originality/value - The focus of the study is the interaction between partnerships and risk management in development and management of affordable rental housing.

Keywords: Housing; Rents; Partnership; Risk management; Financial risk; Australia (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijhmap:v:2:y:2009:i:4:p:392-402

DOI: 10.1108/17538270910992827

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