Simon Kuestenmacher
speaker
143 appearances
2 recordings
1 series
first heard Feb 2022
last heard Mar 2022
Simon Kuestenmacher’s voice in public audio — every appearance, attributed to the second.
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Appearances
Therefore, they, you know, they're happy to not live in the CBD or near the CBD anymore, but they will tend to stay in the middle suburbs on the urban fringe, maybe in a
regional town that is well connected with public transport into the CBD so that they can at least occasionally do a long commute into the city.
At the moment, land is definitely of short supply.
We also have high building costs.
Building materials is more expensive and we have a skills shortage.
So this is a perfect storm for really high house prices, what's happening at the moment.
But the decentralization that we are seeing for the first time in decades that has happened because we are living in the country in the world that has the most infrastructure.
centralized population.
Two thirds of the Australian population live in just five cities.
Before the pandemic, 80% of population growth occurred just in the top five cities.
That means growth, jobs, population were really, really concentrated, which drives house prices up.
And for a long time, it was the goal of public policy on all levels to decentralize population growth.
And it really took a pandemic.
It took the millennials reaching family formation stage and working from home becoming a trend at the same time,
for people now leaving the inner city and moving to the urban fringe, moving to the big regional cities.
So that's the decentralization movement that was long the desire from everyone.
So that is kind of good news, you would think, except that relatively small regional markets
only need a tiny bit more growth than expected to have prices, to have rents go through the roofs because the regional towns that are in commutable distance of the big cities, they didn't plan for two, three, 400 people more per year moving into this town.
So all of a sudden rents go up, house prices go up, which is not a problem at all for the newcomers who buy the new properties because they are
allegedly on inner city incomes and they consider this cheap compared to what they are used to in the inner city suburbs.
Showing 121–140 of 143 · page 7 of 8
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