THE GREAT AUSSIE DREAM IN JEOPARDY: NAVIGATING BRISBANE'S HOUSING CRUNCH!
Hello, Brisbane! 🌞 It's your friendly neighbourhood real estate expert here, diving into the hot topic that's been on everyone's lips: the housing shortage. Strap in, because I’ve got some news that might shake up your property plans!
Australia has been riding the waves of a housing crisis, and sadly, it looks like we won't be hitting the high mark of 1.2 million new homes we hoped to build by mid-2029. Recent analysis by Master Builders Australia suggests we're likely to see only about 1,087,325 new home starts. That's a bit short of our goal, isn’t it?
Why does this matter to you? Well, with fewer new homes on the market, finding that dream home in Brisbane could get a tad trickier (and possibly pricier!).
To break it down, to meet our sky-high demand, we need around 240,000 new home approvals each year for the next five years. That’s 20,000 a month, folks! But, here’s the kicker: we’re currently averaging only 15,000 monthly approvals, with a recent dip to just 13,000. Ouch! 😬
And it’s not just about numbers. We’re also facing a real crunch when it comes to having enough skilled tradespeople to turn these housing dreams into reality. Major projects like the Western Sydney Airport and Melbourne’s suburban rail loop are hogging all the talent, leaving us scrambling for skilled hands.
Did you know that BuildSkills Australia says we need 90,000 more tradespeople in the next three months alone? That’s a whole lot of hard hats!
Now, let’s talk about solutions. It’s clear we need a bit of a boost in our construction workforce—up from 590,000 to a whopping 680,000. And with net overseas migration adding nearly 549,000 people to our population, you’d think we’d have enough hands on deck. But there’s a snag—our policies aren't quite keeping up, making it tough to get the skilled workers we desperately need.
What does this all mean for you, the savvy home-seeker or investor? It's more important than ever to stay informed and prepared. As we navigate these challenges, those looking to buy or sell in Brisbane need a trusted guide more than ever. That’s where I come in! 🏡
Let’s work together to find the best opportunities in this tight market. Whether you're looking to buy your first home, invest in a new property, or just trying to understand what all this means for your current home's value, I’m here to help.
So, don’t let the stats get you down! With a little insight and some strategic planning, we can tackle this housing hiccup head-on. After all, it’s bumps like these that make the journey interesting, right?
Stay tuned for more updates, and remember, whether you’re buying, selling, or just dreaming—knowledge is your best investment!
Lachy Reid
