NEW Data Shows Demand For National Disability Insurance Scheme Services
NEW data shows demand for National Disability Insurance Scheme services will more than triple by 2023, however the current supply of Specialist Disability Accommodation (SDA) cannot meet the projected future needs.
According to Health Care Providers Association (HCPA), although the $22 billion SDA sector is rapidly growing, billions of dollars in available government funding remaining untouched and the majority of suitable investors remain unaware that such funding exists.
The Department of Social Services recently revealed the forecast of demand for NDIS services across Australia and the capital available to service it, with the forecasts revealing that both are set to more than triple by 2023.
- Melbourne CBD (postcode 3000) expects to see a rise in available funding from $240,000 in June 2020 to $1,263,100 by June 2023
- Sydney South (postcode 2000) expects to see a rise in available funding from $160,000 in June 2020 to $705,000 by June 2023
- Brisbane CBD (postcode 4000) expects to see a rise in available funding from $210,000 in June 2020 to $666,800 by June 2023
Furthermore, demand in satellite suburbs is reaching unprecedented levels, with funding available to areas with strong potential for development, such as Victoria’s Craigieburn, set to reach over $4 million by June 2023.
HCPA founder Kyle Hunt said many investors aren’t aware they can simply double or triple their ROI by building an SDA home, as opposed to a standard home.
Since its launch in 2018, HCPA has offered significant funding solutions to this issue, connecting Australians with over $2.6 billion in funding to help their healthcare businesses succeed based on the current statistics.
“The average ROI on a standard home is 6% or $30,000 per year. By building an SDA approved home, investors can claim board, pension, furniture and more through government funding, driving their ROI up to $120,000 per year for just one occupant.
“However, there is still little knowledge out there of these benefits and we are seeing billions of dollars in potential funding remaining untouched. As a result, millions of people across Australia who are living with a disability are unable to receive the support and accommodation they need, and deserve.” Hunt said.
More recently, HCPA identified a gap in the SDA market and now works to raise awareness of the funds available to investors and supports them in securing it.
HCPA has assisted over 9,000 investors (both mum and dad investors and corporate developers) to access a total of $700 million in funding, while maintaining a 100% approval rating.
“Traditionally banks do not lend to individuals for SDA builds, so we’ve partnered with a lender who will operate at just a 10% deposit to kick start the process.
“There is an incredible amount of government funding available to individuals, small businesses and investors in Australia. We’re really excited to continue raising awareness of this and providing the pathway for people to access it, and ensuring that they go on to experience a smooth process as we work to mitigate risks and avoid errors or delays,”
“What’s more, the end result means thousands of people living with a disability across Australia will now have access to appropriate housing, drastically improving their quality of life. This is a huge motivation for us as we look to close the gap between supply and demand in the SDA sector,” said Hunter.
