The Property Tribune
Challenges around housing supply and affordability can be amplified in regional areas where boom and bust cycles, labour and materials costs and the tyranny of distance all have a significant impact.
A 2022 report published by the Regional Australia Institute (RAI) found that, despite the challenges, life in the regions remains an attractive proposition for many people around the country. Therefore, many regional towns and cities will need to continue to look at how they can accommodate a growing population.
The Building the Good Life, Foundations of Regional Housing report, found that across Australia during the pandemic, there was a lift in migration from the major cities to the regions, and while this trend is reverting to more normalised levels, the overall number of people moving is still much higher than pre-COVID levels.
Here in Western Australia, the focus is often on the mining towns in the Pilbara, where boom-and-bust economic cycles cause significant price fluctuations and housing shortages. However, there are several other regional hot spots around the state that are attracting people, with Greater Geraldton topping RAIs Regional Movers Index for the June quarter 2023.
This article was republished by The Property Tribune having been originally written for UDIA WA’s The Urbanist magazine. To read the article in full, click here.