Report highlights housing affordability as critical issue in the Illawarra

The Property Council of Australia last week unveiled major new research looking at future growth in the Illawarra and the infrastructure and policy changes needed to unlock the region’s potential.

The research conducted by Judith Stubbs and Associates, Greater Illawarra: The Smart Growth Agenda, highlights housing affordability as a critical issue in the Illawarra.

The Property Council’s Regional Director – Illawarra, Peta Fitzgerald said the research shows that housing stress in the Illawarra is notably higher than Sydney despite the state capital’s higher property prices.

“Housing affordability is a key issue in the Illawarra and highlights the need for local and state planning reform to alleviate housing stress and help provide for greater population growth around existing urban centres across the Illawarra,” Ms Fitzgerald said.

The Property Council of Australia commissioned the research project in response to the NSW Department of Planning and Environment’s Draft Regional Growth and Infrastructure Plan to show what is possible beyond current growth analysis and government policy restrictions.

“The Illawarra is a great place to live and do business but we seem to be overlooked when it comes to major public investment and the potential for growth in the Illawarra is often undervalued,” Ms Fitzgerald said.

“This research not only makes the case for greater investment in the region it makes the case for smarter growth where we protect our biggest assets – our natural environment – and maximise our existing infrastructure by densifying around our existing urban centres.

“This research looks at everything from where we should focus growth, to the infrastructure projects we need to make that possible, to how we can accommodate our ageing population and reduce our reliance on commuting to Sydney for work.”

The Greater Illawarra research has received support from both sides of politics as the region looks to work together to achieve better outcomes for the Illawarra.

Gareth Ward, Parliamentary Secretary to the Premier, Illawarra and South Coast said: “I welcome and congratulate the Property Council on this important research for the Illawarra.”

“This is a vital piece of research that will provide an evidence base to argue for greater investment in the Illawarra and help us make better decisions about our future,” Mr Ward said.

“This research looks fundamentally at creating a better quality of life for all of us in the region, and as someone born and bred in the Illawarra I want to see this region continue to grow and prosper. I particularly welcome the focus on employment, housing affordability and better infrastructure to meet our growing population.”

 

Ryan Park, Shadow Minister for the Illawarra said: “I look forward to this research being used by Government and the Private Sector to drive local investment, job opportunities and grow our regional economy whilst at the same time protecting our natural environment.”

“We all have a responsibility to continue to aim high when it comes to enhancing the Illawarra and making it a better place to live, work and visit,” Mr Ryan Park.

The Property Council of Australia commissioned the research conducted by Judith Stubbs and Associates late last year. Dr Stubbs said the research was important in bringing the key issue of affordability to the fore.

“The research shows that housing stress in the Illawarra is high compared to Sydney. While property prices are lower compared to Sydney so too is the average income and that’s creating a lot of pressure for renters and buyers,” Dr Stubbs said.

“Housing affordability isn’t just an issue for lower income families but for everyone. We will all be impacted by housing affordability at some point in our lives – whether it’s for ourselves, or our children or even our ageing parents.”

“We are lucky here in the Illawarra however as with some relatively simple local and state planning reform we can make big inroads into housing affordability,” Dr Stubbs said.

For more information on the research and a video summary of its findings please visit the Property Council’s website.