Regional Australia and Housing Affordability
Over 9 months ago, I published a report stating that Sydney and Melbourne Housing affordability issues were not due to negative gearing, but due more to government and business focus on Sydney and Melbourne driving jobs growth and therefore demand for housing.
Finally someone in the government stating to realise this. Treasury secretary John Fraser is quoted as saying that Treasury had begun studying a migration of homebuyers out of east coast capitals to regional centres that could help to ease house prices.
He conceded the government had overlooked promoting smaller regional cities, as they do in Europe, for too long and this trend will help with housing affordability.
About time someone woke up and looked outside Sydney and Melbourne housing affordability to see what the rest of Australia’s property market was doing.
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