{"id":2860,"date":"2022-06-21T05:19:05","date_gmt":"2022-06-21T05:19:05","guid":{"rendered":"https:\/\/royabhishek.in\/urbanbuyer\/just-six-years-until-perth-runs-out-of-development-land\/"},"modified":"2022-06-21T05:19:05","modified_gmt":"2022-06-21T05:19:05","slug":"just-six-years-until-perth-runs-out-of-development-land","status":"publish","type":"post","link":"https:\/\/royabhishek.in\/urbanbuyer\/just-six-years-until-perth-runs-out-of-development-land\/","title":{"rendered":"Just six years until Perth runs out of development land"},"content":{"rendered":"

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Perth is facing a land supply crisis that threatens to derail its affordability, prompting a peak industry body to issue a report addressing the critical housing shortage.<\/p>\n

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Perth is one of the most affordable cities in the country but that status is under threat, with the city having just six years of supply left in current major greenfield projects.<\/p>\n

The Urban Development Institute of Australia (UDIA WA) has launched a report that sets out four key recommendations for the state to avoid a critical housing crisis.<\/p>\n

UDIA WA\u2019s CEO Tanya Steinbeck said Perth has an enviable lifestyle but will lose that position if action is not taken.<\/p>\n

\u201cThe diminishing greenfield supply is exacerbated by low infield development yields that will fail to meet increasing demand at the current rate,\u201d Ms Steinbeck said.<\/p>\n

\u201cMost infill development is just not stacking up for developers right now.<\/p>\n

\u201cMany projects have been put on ice due to critical worker and material shortages, coupled with a range of longstanding issues that challenge the delivery of quality infill development,\u201d she said.<\/p>\n

WA\u2019s Minister for Lands John Carey said the state had avoided the worst of the projections about how covid would impact the economy and construction sector and added that housing reform was central to his government\u2019s policy base.<\/p>\n

\u201cWe do now face various factors; a skilled labour shortage, the closure of international borders, which was the right decision but obviously had consequences for skilled labour; we have supply chain issues caused by a variety of factors, including the war in Europe.<\/p>\n

\u201cSo, we do face issues, and it’s how we address these issues, but also look to the future.<\/p>\n

\u201cWe’re spending $2.4 billion on housing and homelessness over the next four years and announced the biggest injection in social housing, which increased $875 million.<\/p>\n

\u201cI’m a passionate believer of social housing.<\/p>\n

\u201cIt provides a route to those who are most vulnerable but also for the private housing sector, it adds to the overall housing supply,\u201d Mr Carey said.<\/p>\n

The UDIA (WA) recommendations<\/strong><\/p>\n