Click here to see the latest news, form or information released by the co-operative

Whilst 2023/24 was a year of
consolidation, 2024/25 was a year of
growth.

In line with our strategic
and business plans, the co-op
purchased five more properties,
thus growing our SEHC-owned
property portfolio from sixteen to
twenty-one. These were all
two-bedroom homes which were
offered to existing members as
rightsizing options, with four of the
five properties being taken up for
this purpose.

These rightsizing
outcomes meant that we were able
to offer four family-sized homes to
new members in need of affordable
housing; a great outcome for the
members rightsizing, the new
families joining our co-op, and the
co-op itself.

The 2023/24 financial year can best be
described as a year of consolidation.
Whilst no new properties were purchased,
the foundations for growth in 2024/25
were established through yet
another year of solid financial performance.

This saw the co-operative generate a
surplus of $651,642 and finish 2023/24
with just under $10M in assets.

This result, coupled with the fact that we carry no debt, makes it fair to say that our
financial position is the envy of our sector,
and this rock-solid financial position should provide comfort to members and all other stakeholders that the future of the
co-operative is well and truly secure.

The challenge for our co-op going forward is to continue to grow the number of properties we have to offer
the increasing number of Victorians who found themselves in housing stress. We understand that our strong financial position (which sees us owning sixteen unencumbered properties; with no debt; with forecast financial surpluses year-on-year and significant cash reserves) means we are perfectly positioned to achieve significant growth.

2022 finds SouthEast Housing Cooperative in the most robust health of its 22-year history. With 204 members, recent upgrades completed on 94 of its members’ homes, projected annual income of $2.6M, a balance sheet bottom line approaching $9M and no debt our cooperative is in a position of great strength and poised for growth. Our fantastic Board of Directors and dedicated team look forward to achieving that growth through 2023 and beyond.

As stakeholders know, we have been in discussions with Eastern Suburbs Rental Housing Cooperative (ESRHC) regarding the potential to merge. The recently completed merger due diligence process highlighted the fact that both of our organisations are extremely well run and financially very secure, and that the members of each organisation would reap benefits from a merger.