Daily Buzz: Friday, 19 July
By
PropertyBuzz, your daily dose of property news.
Downsizing as a solution to the affordability crisis; Wodonga’s population to double in 25 years; and a WA fencer cops a hefty fine
Welcome to Property Buzz! I’m Sebastian Holloman. Today is Friday, 19 July.
Co-founding director of Dorado Property, Peter Packer has stated that even with the shrinking lot sizes in Australia, property values have outpaced household incomes, and exacerbated the housing affordability crisis.
The cost of land was found to be the main driver of property price increases, with the most significant reductions in lot size seen in Victoria and Queensland.
To address the affordability crisis, Packer stated that Australians need to compromise on house size, with potential solutions including planning rules encouraging smaller houses, new construction methods, and applying existing initiatives to modular housing.
Over in Victoria, the city of Wodonga’s population is projected to reach 90,000 within 25 years, doubling its current size.
In response to this forecast, the state government has invested in water and sewer infrastructure upgrades in an effort to support future growth across Wodonga, and the nearby city of Wangaratta.
The $73.9 million expansion of the Wodonga Wastewater Treatment Plant will double its capacity, reduce emissions and enable the plant to operate self-sufficiently and serve the community for years to come.
And in WA, an unregistered fencer has been fined for taking deposits without completing work and been ordered to pay $2,500 in fines and $688.80 in costs.
The owner of Pinjarra Fencing and Gates reportedly accepted two deposits totaling $2,700 for work he never carried out, with refunds only recently issued to those affected.
The Commissioner for Consumer Protection of WA has warned customers to negotiate smaller deposits with tradies and use credit cards for protection.
That’s Property Buzz for today. See you again tomorrow, 20 July, for your daily dose of Property Buzz.
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