The Property Council’s Michelle Guido said both the buyers and renters markets need to be taken into account. Image – LinkedIn and Canva.
  • Report finds more infrastructure and housing needed in regional areas
  • Illawarra at a housing crisis point
  • More people to move regional after an 11% increase

The need for infrastructure to be delivered alongside housing as increased regional migration continues has been addressed by the New South Wales Regional Housing Taskforce.

The taskforce was established in August to help the state government partner with councils to address housing shortages in NSW regions to help solve the crisis.

After receiving 160 submissions by industry stakeholders, the proposals included:

  • Unlocking state government-owned landholdings for residential development, including social housing
  • Providing incentives for development
  • Zoning more land residential
  • Creating additional social and affordable housing

Property Council of Australia (PCA)’s Illawarra regional director Michelle Guido said the findings are a positive step in dealing with the influx of people to the regions and impacts on local housing supply.

However, Ms Guido has also urged the NSW government to take a more holistic approach to housing that looks at both the rent and buyers market.

Illawarra

“With affordability and housing supply shortages being experienced right across the Illawarra Shoalhaven, we are also pleased to see the recognition of the need for more diverse and affordable housing to better meet current and future needs of our local communities,” she said.

In late August, an Urban Development Institution of Australia (UDIA) NSW report warned the Illawarra Shoalhaven region is at a crisis point due to the rapidly decreasing supply of serviced land for development.

UDIA NSW CEO Steve Mann said, “house prices are continuing to climb at an alarming rate, which is having a major impact on deteriorating housing affordability.”

Within the year, house prices in Shoalhaven increased by more than 20%, and by 12% in Wollongong, said Mr Mann.

Wollongong Region

The report stated the crisis could be averted through the funding of critical enabling infrastructure needed to further support up to 500,000 people that will live in the region by 2041.

Moving regional

This month Commonwealth Bank (CBA) and the Regional Australia Institute released data showing the influx of Australians moving from capital cities to regional centres.

The data showed an 11% increase in the movement compared to the June quarter.

RAI’s chief economist Dr Kim Houghton said, “the (report) identifies regional areas which are emerging as desirable destinations for capital city residents, enabling local leaders and business owners to prepare for a burst of population growth.”

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