Sergio Fami There are many factors that impact Affordable Housing in a Australian Cities – cost of land, cost of construction, the size of the home, to mention the obvious, but seldom mentioned is the transport options that homeowners are confronted with and how this can impact the household budget. Transport is a big cost to a household budget and it can vary depending upon where you live in a city.
Social housing peaked in 1991 at 7.1% of all property within Australia, and now just represents 4.8% of property across Australia. With waiting lists for social housing in 2021 sitting at 163,000 households, this figure is expected to grow as rising interest rates and cost of living shut more people out of the property market….
Australian cities are highly vulnerable to oil shocks and mortgage rate increases with outer suburban areas under the most risk. A change in policy to encourage greater urban consolidation and more improved public transport such as Light Rail is needed to make our cities more resilient.
The Housing Affordability crisis in Australia reflects the situation where the growth in house prices in Australia’s major cities have vastly exceeded the growth in personal income, making housing ownership an…