Shoalhaven City Council

James Ruprai

I have had the privilege of working in some of Australia’s highest growth regional areas in my career, and am happy to share my observations, including the potential future and where to for the next generation of owners and renters across the East Coast.

Housing Availability (and I use that term specifically) is a situation that comprises both the affordability issues we have seen escalate in recent years, as well as the types of properties available and the expectations for the generation of emerging renters and homeowners. Some have heard me say in the past, “there is a generation of Australians who are now resigned to never owning their own home”, which is a great departure from the previous Australian Dream of owning, living and growing old on your own quarter acre block in the suburbs.

The South Coast of NSW (like most coastal regional areas) has seen vacancy rates as low as 0.5 percent in past years, well below the rates seen pre-COVID19 of over 3.5 percent, which has placed high levels of stress on rental markets with combined typology rental amounts reaching record levels. Further, with price increases due to interest rates and the short-term accommodation market booming in recent years, fewer properties have been offered for sale at historically high prices.

This environment has created a situation in which a generation of people in their 20s and 30s do not have the same opportunities to enter into property ownership as previous generations. But what is the answer? In the city and town planning industry, we know there is high demand for more properties of a different typology to cater for the future, without impacting existing markets that make regional areas in Australia highly sought after areas to live, stay and play. To facilitate downsizing and entry level housing, infill and consolidated development types are required as we move to meet housing provision targets. The use of smart planning and enabling infrastructure to facilitate units, townhouses and smaller lots in existing urban areas will assist in opening up these options, while preserving existing housing, rural landscapes and environmental values that make the regions enviable lifestyle options.

Planning, development, construction and real estate industries each have a key role to play as individual pieces of the same puzzle, to see a successful housing market into the future.