Developing the north has long been a goal of successive federal governments, but experts say the regional rental crisis is constraining growth.
"Without that capacity built into those communities to actually absorb further residential growth, we won't be seeing the northern part of Australia growing." "It's more probable that the situation will worsen until there is significant strategic investment in lower to medium housing options in the area."Rising property values and low rental vacancy rates have left some locals facing tough choices, including childcare worker Maggie Yu.
Broome's median house price has jumped almost 30 per cent in the last 12 months, while rental vacancy rates remain stubbornly low.
Why can’t Australia do what they’ve done in Canada recently and block non citizens buying property? Surely that would take some pressure off the market if there was a moratorium for 5 years and a review after that before lifting it.
The Australian housing market is a Ponzi scheme.
Five houses Albo!
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