An increasing number of Australians are finding it hard to afford their own home and it seems that home ownership is becoming a thing of the past… but we came up with a viable solution!
There have been numerous studies and reports on housing affordability in Australia. While they may use different standards to measure affordability, the results are the same. There’s a problem — and it’s not getting better.
In a country as huge as Australia, it would be a paradox to say we are short of land. In fact there is a lot of land available but the reality is that modern population tends to overlook all those unspoiled parts of the country.
Our lives are also changing – families have fewer children, single people staying unmarried for longer and unfortunately the number of divorced couples is also increasing. Obviously, there is need for smaller and more affordable homes that can accommodate a single person or smaller household. While there is no shortage of demand, the opposite is true for supply.
Many people assume the great Australian dream is owning a big house on a suburban quarter-acre. Sure, this version of the dream still persists for many but those aspirations are changing. It looks like the new dream for many is about creating their own way of life in some kind of similar minded community and also more in sync with nature.
So the challenge is to be able to fulfil this dream in a changing climate, an economic downturn and housing crisis while catering to the diverse and unique needs of Australian home owners.