Housing affordability a challenge on Mid North Coast

Housing affordability is the issue right across NSW. And Sydney people are 'players' in regional markets such as the Mid North Coast
Housing affordability is the issue right across NSW. And Sydney people are 'players' in regional markets such as the Mid North Coast

HOUSING affordability is a hot topic right now – not just in the cities, but in many areas along the Mid North Coast, across the Eastern Seaboard and inland centres like Armidale and Tamworth.

NSW Premier Gladys Berejiklian has declared it is the biggest issue people have across the State.

Regional Development Australia - Mid North Coast has created a resource on its website with information about affordable housing, who it affects and what regional pressures are contributing to the rise in housing stress.

The website resource also has a checklist for home owners who are interested in building a granny flat on their property as an affordable housing solution, either for their own family needs or for rental accommodation.

Kerry Grace, CEO of Regional Development Australia - Mid North Coast, said, “affordable housing is a central component to the well-being of any individual, couple or family.”

The website shows that social housing wait times in this region are frequently between 5-10 years, and beyond, highlighting a growing need for affordable rental accommodation.

Many experts believe the problem is compounded by the Sydney housing market, as cashed up Baby Boomers and Gen Xers look to the Mid North Coast’s attractive lifestyle and retirement destinations for investment and retirement opportunities.

This has the flow-on effect of driving up house prices in this area, but the higher prices are not reflective of the lower incomes that are typical of families living in regional Australia.

Visit the RDA website or www.housingpromotion.com.au to find out more.