MEDIA RELEASE
The Real Estate Institute of Victoria (REIV) today announced its support for the Progressive Residential Affordability Development Solution (PRADS). A groundbreaking initiative led by Housing All Australians that could transform how Victoria delivers affordable housing for essential workers.
PRADS will represent a paradigm shift in the delivery of affordable housing, creating a digital platform that will enable government to record and monitor all affordable housing dwellings, and obligations, on a centralised digital register rather than the current recording, by local government, on locally held Excel spreadsheets. The inbuilt compliance tools will give government the confidence to enable private developers, real estate agents, and investors to participate in the delivery and management of affordable housing for Australia’s workers, providing the same transparency and accountability as traditional community housing providers.
"For too long, the real estate industry has been sidelined from affordable housing delivery due to misconceptions that affordable housing is synonymous with social housing," said REIV CEO Jacob Caine. "PRADS will change this by creating a clear framework for essential worker housing that our members can confidently support and manage, and that governments can have the transparency of oversight of all compliance obligations."
About PRADS
The Progressive Residential Affordability Development Solution (PRADS) is a digital compliance platform and economic framework that enables private sector delivery of affordable housing with live compliance monitoring, providing full accountability. To be developed by Housing All Australians, PRADS creates pathways for developers to deliver affordable housing by government providing a density bonus or fast-tracked through the state governments’ development facilitation process, with a commitment from the developer to deliver a number of affordable rental homes.
Revolutionary Search Capability on realestate.com.au
A key breakthrough for PRADS is its integration with realestate.com.au, Australia's leading property platform. Properties designated for essential workers under the PRADS framework are searchable
through dedicated tags on the website, making it easier, when implemented, for teachers, nurses, emergency service personnel, and other key workers to find suitable, affordable accommodation.
"REA Group is proud to support the PRADS initiative through realestate.com.au," said Kul Singh, Chief Customer and Commercial Officer from REA Group. "Once PRADS is established, essential workers will be able to search realestate.com.au for affordable housing on the site, which more than 12 million Australians use every month1. By making PRADS properties searchable alongside all other rental listings, we're helping to create a more inclusive and transparent rental market that serves all Australians."
Broad Industry Support Demonstrates Market Readiness
PRADS has attracted unprecedented support from across Australia's property and housing sectors. National Shelter, one of Australia's peak housing advocacy organisations, has endorsed the initiative as representing the type of innovative thinking needed to address the housing crisis at scale using the private market.
"The support from peak organisations like National Shelter demonstrates that PRADS is more than just a private sector initiative – it's a collaborative solution that bridges traditional community housing thinking and advocacy with market-based delivery," Caine noted.
Independent property advisory firm Charter Keck Cramer has also backed the register. Executive director Richard Temlett said: "I’m very supportive of PRADS and the efforts behind it. I see it as a practical tool that the government should seriously consider, offering transparency, governance and a streamlined approach to enabling greater density and the delivery of affordable rental housing as a result”
The initiative has also received backing from major industry bodies, including the Property Council of Australia, Urban Development Institute of Australia, Housing Industry Association, and leading developers such as Metricon and Mirvac. Financial sector support includes endorsements from the Commonwealth Bank of Australia and major Build-to-Rent operators HOME and Local.
"The PRADS Register eliminates the traditional barriers that have prevented real estate professionals from participating in affordable housing management," Caine explained. "Our members can now confidently manage essential worker housing knowing that robust compliance and monitoring systems are in place."
Victorian Government Engagement Opportunity
REIV is calling on the Victorian Government to recognise the transformative potential of PRADS and work collaboratively with HAA and the industry to design and implement the framework across Victoria.
"Victoria is facing an unprecedented housing crisis, particularly for essential workers who are being priced out of the communities they serve," Caine said. "PRADS offers the Victorian Government a unique opportunity to unlock private sector investment and expertise to address this challenge at scale."
The initiative aligns with Victoria's Housing Statement objectives while providing new mechanisms for delivering affordable housing that complement existing government programs.
Market-Based Solution to Scale Challenge
Victorian housing data shows that essential workers, including teachers, nurses, police officers, and emergency service personnel, increasingly cannot afford to live in the areas where they work, especially in regional Victoria. Traditional approaches to affordable housing delivery, while valuable, cannot address the scale of need across Victoria's regional and metropolitan areas.
"PRADS recognises that solving Victoria's housing crisis requires the full engagement of the existing property ecosystem," Caine explained. "By creating viable commercial pathways for developers and property managers to deliver essential worker housing, we can scale affordable housing delivery beyond what any single sector can achieve alone."
Call for State Government Support
REIV is encouraging the Victorian Government to:
• Recognise PRADS as an innovation worth supporting and provide an innovative framework for affordable housing delivery
• Work with Housing All Australians to refine the design of the register
• Work with industry to pilot PRADS in key Victorian growth areas
• Integrate PRADS with existing state housing policies and programs
• Support the development of planning incentives that enable PRADS implementation
"The private sector is ready to participate in affordable housing delivery at unprecedented scale," Caine concluded. "What we need now is government leadership that recognises this opportunity and creates the policy framework to make it a reality."
Housing All Australians has been discussing PRADS and its national implementation with the Federal and State governments.
About Housing All Australians
Housing All Australians (HAA) is a national private sector-led, for-purpose organisation (PBI, DGR1) dedicated to increasing the availability, supply, and access of affordable housing at scale across Australia. We fundamentally believe that safe, affordable, and stable housing is critical infrastructure for a future prosperous Australia. Our core conviction is that Australia's housing crisis is too complex to be solved by government alone. It requires a whole-of-community approach, with business playing a pivotal role in driving innovative solutions at scale.
About REIV
Established in 1936, the Real Estate Institute of Victoria (REIV) is the peak professional association for the Victorian real estate sector, representing over 2,000 real estate agencies and 7,000 real estate professionals across metropolitan, regional, and rural Victoria.
Media Contact: media@reiv.com.au 03 9205 6607 www.reiv.com.au