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Indigenous Business Australia (IBA) launched their 3rd Impact Report at an event on Whadjuk Noongar boodja in Boorloo (Perth WA) on 17 April 2024.
The report was a deep dive into the intergenerational impacts of home ownership as reported by Aboriginal and Torres Strait Islander single carer and single parent families.
Joined by IBA’s Chair Eddie Fry, Senator Louise Pratt and an honoured panel of customers who shared their personal stories, IBA celebrated the reported social, cultural, and economic impacts highlighted by homeowners.
The launch event held at the State Theatre Centre of WA was opened by musician and Bibbulmun Noongar man Kobi Arthur Morrison and a heartfelt Welcome to Country by Aunty Robyn Collard with a special performance by her grandson, Tryse Rioli, showing how intergenerational impact is not limited to home ownership alone.
This new report is the third in a series of groundbreaking studies looking at the impact of IBA’s activities from the perspective of Aboriginal and Torres Strait Islander people. The latest results focus on the experiences and impacts of home ownership as reported by First Nations single carer and single parent families.
First Nations single carer and single parent families care for 44% of Aboriginal and Torres Strait Islander children in Australia. 84% of those households are headed by a female. Just over 1 in 5 IBA home loans is with a single carer family.
IBA strive to understand and encourage positive change by investing with First Nations people across business, home ownership, investments and capability development. This report highlights not only the success of First Nations single carer homeowners, but lessons for the broader financial services sector.
Gija woman Kia Dowell is the Executive Director of Strategy & Impact at IBA. From creating the framework and carrying out each of IBA’s previous reports, Kia understands what impact means.
“This report is another critical step in the right direction. IBA seeks to deliver on our purpose and 2028 strategy informed and guided by the lived experiences of Aboriginal and Torres Strait Islander people. Importantly we must take action and learn from those stories to improve the way products are designed and services delivered.
“We’ve been on our journey with the launch of the framework in 2019 and our first report in 2021. This is not simply about understanding the impacts generated as a result of home ownership, it goes to the heart of intergenerational change.
“Inclusion and prosperity are two of IBA’s strategic goals and when home ownership is realised, it provides further evidence of the positive impact that can be created.
“The demand for home ownership amongst Aboriginal and Torres Strait Islander people continues to increase and this report serves as a reminder to all levels of government and the sector that access to affordable, stable and appropriate housing is a basic human right.
“The next in our impact series is already underway with research kicking off this month to find out how IBA’s activities support Aboriginal and Torres Strait Islander people’s financial wellbeing. We’re talking directly to community in yarning sessions as well as our more traditional quantitative research.”
Stories shared directly by the inspiring panel of speakers at the launch event highlighted the impacts they experienced to their own wellbeing, aspirations, and determination.
Renarta Coyne is a proud Minang Noongar Yorga woman from the Great Southern Regions of Albany and Mt Barker, Western Australia. As a single mother of 4 children and 12 grandchildren, she talked about both the success and struggles of gaining home ownership.
“Besides my children and grandchildren, I am proud to say I have achieved the ultimate goal of being a ‘Home Owner’ and paving the way for my family.
“As a single mum the journey along the way hasn’t been without challenge although the support and love of my family and friends has seen me through these difficult times.”
Images from the launch event are available.
Media contact: Tara Toohill 02 9207 6362 or tara.toohill@iba.gov.au
