Daily Buzz: Friday, 26 July
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PropertyBuzz, your daily dose of property news.
The four critical priorities for commercial real estate; Generational disagreement over the housing affordability crisis; and How Queensland can improve its housing policy;
Welcome to Property Buzz! I’m Sebastian Holloman. Today is Friday, 26 July.
A JLL research program has stress-tested 80 scenarios that could impact society and the economy in the years to come and identified four key areas that must be acted upon: climate, people, technology and resilience.
Climate change will necessitate environmentally friendly, resilient building designs to withstand natural disasters.
Changing work and living patterns, AI, and social impact considerations will also significantly influence real estate strategies.
Resilience strategies will need to include risk management and business model diversification.
And technology will impact real estate as a space provider and user, with automation, robotics, and digital twins becoming more prevalent.
Over in WA, a survey has found that Perth’s baby boomers are least affected by the housing crisis, but are also the most likely to advocate for immigration cuts as a solution to high prices.
Younger residents prefer supply-side solutions, like increasing high-density housing, while older residents favour demand-side solutions, like reducing immigration.
75 per cent of Baby Boomers support immigration cuts until housing shortages ease, while 57 per cent of Gen Z respondents want more high-density housing.
Cutting migration could lead to a small short-term gain but could cost Australia $211 billion in lost tax revenue over 30 years.
And in Queensland, the Real Estate Institute of Queensland (REIQ) aims to improve housing security, recommending an ambitious homeownership target of over 70 per cent by 2032.
The REIQ proposed a number of options that could help to close the deposit gap, including expanding loan schemes, acting as guarantor, and extending stamp duty concessions for first home buyers and downsizers.
The REIQ also advocated for planning reform, training future tradies, setting building approval targets, and incentivising the private sector to adopt modern construction methods.
That’s Property Buzz for today. See you again tomorrow, 27 July, for your daily dose of Property Buzz.
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