It is housing crunch time as Melbourne bursts!
Proving to be greater than ever, 2023 officially became the year that Melbourne overtook Sydney to become the largest city in Australia. This is a true testament to the buzzing culture, arts, entertainment and general attraction of our great city.
The country is in a state of transition, where people are yet to feel the full effects of interest rate rises and cost of living stress. Having to house a record number of migrants coming into Victoria is an enormous challenge, especially today. The reality of the 2023 housing market is nothing less than a national crisis.
While the future of housing supply is a hot topic, the good news is that Australia is a vast country with a relatively small population. There are many opportunities to provide housing, but our government has to incentivise and encourage development so that Melbourne and Australia can be at the forefront of providing a diverse and affordable mix of housing.