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A new Western Australian taskforce targeting supply, international arrivals highlight Australia’s housing shortfall, and are property professionals happy at work?
Welcome to Hot Property, REB’s weekly round-up of headline stories that are important not only for the real estate sector, but also for the state of the Australian property market as a whole.
To compile this list, we consider the week’s most-read stories and the news that matters to you, collating your need-to-know property report from across our site and sister brands. Here are the biggest stories of the week:
Work – you spend a majority of your life there so you may as well be happy with it. A new report from big four bank, NAB, painted a picture of the satisfaction levels within Australia’s property sector, with results of the survey mixed to say the least.
Australia’s post-pandemic migration has headed in one direction – up. New data from the Australian Bureau of Statistics (ABS) has revealed an increase of over half a million residents in the 12 months to August. But in a climate where house prices are rising and vacancy rates are plummeting, is increased migration good for Australian property?
Speaking of supply, the Western Australian government this week introduced a new housing supply taskforce aimed at increasing the state’s stock. At a time when the state capital, Perth, is wrestling with the tightest rental market in the country and a listings shortage, the government’s action indicates its dedication to reversing this trend.
All good things come with sacrifice. That’s the message investors Scott and Mina O’Neill recently delivered when they shared their story of short-term pain for long-term gain.
Another government bid to creatively increase housing supply saw the South Australian government turn to granny flats to cure its supply woes. The state’s Planning Commission approved changes urged by SA Planning Minister Nick Champion earlier this month. Find out more about the move here.
Feels like all we’ve done is talk about supply, but here we are again. New figures from the ABS found the number of dwelling commencements in the three months to June dipped. Is this confirmation that Australia’s supply crunch won’t heal anytime soon?
Looking for a change of home and scenery? Well, look no further than this collection of pristine Australian regions waiting with open arms for your arrival.
As homes in the WA capital dry up, investors have set their sights on apartments.
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