Affordable Housing Dilemma
24 February 2017
Regional Development Australia (RDA) Mid North Coast has launched a new website resource with information about affordable housing, who it affects and what regional pressures are contributing to the rise in housing stress.
Housing affordability is a hot topic right now. The NSW Premier, Gladys Berejiklian, has declared it is the biggest issue people have across the state.
The website resource also has a checklist for home owners who are interested in building a granny flat on their property as an affordable housing solution, either for their own family needs or for rental accommodation.
Kerry Grace, CEO of RDA Mid North Coast, said, “affordable housing is a central component to the wellbeing of any individual, couple or family.”
The website shows that social housing wait times in the region are frequently between 5-10 years, and beyond, highlighting a growing need for affordable rental accommodation.
Many experts believe the problem is compounded by the Sydney housing market, as cashed up Baby Boomers and Gen Xers look to attractive lifestyle and retirement destinations for investment and retirement opportunities.
This has the flow on effect of driving up house prices in those areas, but the higher prices are not reflective of the lower incomes that are typical of families living in regional Australia.