The housing availability crisis will continue for a few years. The production capacity of the residential home construction industry workforce can not out-pace demand. Material suppliers can not meet demand due to availability, and the family growth rate is increasing.
We will have to live while long-term solutions are designed. Then we will have to live longer while the solutions are built. We all want to have self contained accommodation, where we can live our lives with all the comforts we need. That is going to take time to own, but we can rent it today.
Fully furnished individual rental units are the way to holiday in Australia. All the comforts of ownership, for a short time. The owners of these rentals could be open to longer lease contracts.
Their investment properties come in all sizes. Villas, townhouses, duplexes, semi-detached, single-family homes, terrace homes, or condos are available for a price.
Volatility in any market creates changes. Private businesses and entrepreneurs adjust to emerging markets and trends. Savvy consumers also adapt.
Remote and hybrid work/life combinations mean many career types don’t have to live and work in the same city. Rent in Hobart is decreasing. TAS, NT, and Canberra show no change in rental costs. While Darwin shows the smallest increase at 3.4%. The rest of the nation is a bit gone.
The Benefits of Working from Home in Australia
In this current problem, working from home can provide many benefits.
How much would you save if you never had to drive to and from work again? Fuel costs are mad. Working from home can keep that money in your pocket or allow for a better quality of life.
Home offices offer greater freedom. More flexibility in life is freedom, but you will have to balance that with your distractions. The freedom you have still requires you to choose work, once and a while.
Customized workspaces at home can increase your productivity and job satisfaction.
Remote work is an entirely different happy place. All the work-from-home benefits plus a foreign beach or mountainside of your choice. The only requisite is a good signal.
Source: Unsplash
Why You Should Consider Investing in a House in Australia
If you are spending more than 30% of your income on your accommodation, you are in rental stress. States and Commonwealth affordable housing projects build new homes and subsidize the costs to fit smaller budgets so people can afford other living expenses like insurance and education.
The treasury has put together a $10 billion fund to improve housing supply and affordability. States and territories are incentivized with a $3 billion bonus for whoever builds the most homes beyond their share of the five-year goal.
The government has a solution. It is currently a five-year plan. They missed the first-year target by 35%. Consider your options and pick a home before someone else does.
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