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Strong Growth for Compass Housing – Annual Report Released

29 Nov 2021

Strong Growth for Compass Housing – Annual Report Released

Social and affordable housing provider Compass Housing has released its 2020-21 Annual Report today.

Chair Kwesi Addo said despite ongoing challenges from the COVID-19 pandemic, Compass had another successful year with some impressive achievements.

Mr Addo said those achievements included:

  • the completion of the construction of 493 properties across 19 sites in the Hunter and Central Coast under the NSW Government’s Social and Affordable Housing Fund
  • adding another 63 properties to its Specialist Disability Accommodation portfolio
  • the expansion of its in-house maintenance division My Place Property Maintenance to achieve greater responsiveness and cost reduction in maintain its 7,609 properties across NSW, Queensland and New Zealand.

“Last year’s growth represents an increase of 6.6%on FY20 and brings total growth over the past three years to an astonishing 64 per cent,” Mr Addo said.

He  paid tribute to pay tribute to Compass’ strategic partners and the many organisations whose efforts enable Compass to deliver on its mission.

“Our vision is for a world in which all people have access to safe, affordable and adequate housing and are actively engaged in their communities,” he said.

“In pursuit of that goal, Compass has developed an approach to service delivery which integrates tenancy and property management within a broader network of services and maximises opportunities for

tenants to increase their economic and social participation.”

Group Chief Managing Director Greg Budworth said Compass was in a strong financial position for the future, achieving a total surplus of $49M. This year it received grants worth $16.1M.

Mr Budworth congratulated the Compass Housing team on their achievements in serving tenants, particularly during COVID-19 lockdowns and restrictions, pointing to continued industry leading tenant satisfaction rates of 89%. He said support coordinators and community participation officers performed an incredible 1500 welfare checks and distributed more than 1000 hampers and care packs to isolated and/or vulnerable tenants.

“Having successfully managed the transition to work-from-home arrangements at the start of the pandemic last year, Compass was well positioned when lockdowns once again came into force,” Mr Budworth said.

He said Compass Housing has long been committed to social, environmental, and economic sustainability, including through the integration of the United Nations’ Sustainable Development Goals into its planning and operations. This year it had played a leading role in the establishment and running of the Hunter Regional SDG Taskforce. Compass maintained its focus on having a diverse and inclusive workforce with 63% of its staff being female but 67% of executive positions being held by women.

“One of the best parts of the Annual Report is the stories on our tenant’s achievements and how the provision of housing and support has changed their lives for the better.”

“We should never forget that adequate and affordable shelter is a human right. Compass has this year continued its advocacy and thought leadership to promote the benefits of increased government and private investment in social housing and other measures to address the unacceptable levels of housing stress and homelessness in Australia.”

View the Annual Report here.

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