Podcast: Liz Thomas – Common Equity Housing Ltd
[ E17 ]In this episode of Co-op Leader Conversations, Liz Thomas, Managing Director of Common Equity Housing Ltd (CEHL), shares how federated housing co-operatives have been scaled in Australia and what New Zealand could adapt.
Liz explains CEHL’s model, where a specialist owner holds housing assets while local co-operatives govern and manage communities. With nearly 2,200 homes, the model delivers secure, affordable tenure and strong social outcomes while remaining commercially viable.
The conversation explores why Australia has been able to grow cooperative housing at scale, including policy settings, regulatory oversight, and a blended capital stack that combines government investment, CEHL capital and private lending. Liz contrasts this with New Zealand’s current housing system, which tends to default to renting or ownership.
Beyond housing, the episode highlights lessons for the wider cooperative sector around federated structures, balance sheet strength and governance at scale.
Conversation themes
Federated cooperative housing models
Secure tenure and community outcomes
Capital stacks and lender confidence
Governance and compliance at scale
Policy levers for co-op growth
Why this matters
This episode is highly relevant for policymakers, housing providers and cooperative leaders exploring alternatives to traditional housing models. It demonstrates how cooperative solutions can be scaled with the right structural and financial settings.
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