{"id":42709,"date":"2023-03-31T10:29:36","date_gmt":"2023-03-30T21:29:36","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=42709"},"modified":"2023-03-31T10:29:36","modified_gmt":"2023-03-30T21:29:36","slug":"its-official-this-is-australias-most-affordable-city-watch","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/its-official-this-is-australias-most-affordable-city-watch\/","title":{"rendered":"It&#8217;s official: This is Australia&#8217;s most affordable city | WATCH"},"content":{"rendered":"<p><strong>PHOTO: The beaches are to die for as well. NEWS.COM.AU<\/strong><\/p>\n<ul class=\"list--hightlighted\">\n<li>Median new land price in Perth is more than a third the price of<a href=\"https:\/\/propertynoise.co.nz\/au\/?s=Sydney&amp;submit=Search\"> Sydney<\/a><\/li>\n<li>Long term supply remains a prime concern of industry<\/li>\n<li>More needs to be done to address infill, and medium and high density<\/li>\n<\/ul>\n<p>A new report has officially declared<a href=\"https:\/\/propertynoise.co.nz\/au\/?s=Perth&amp;submit=Search\"> Perth<\/a> as the most affordable capital city in Australia.<\/p>\n<p>The Urban Development Institute of Australia\u2019s (UDIA) State of the Land Report was launched at the UDIA National Congress in Perth on Wednesday, finding that the median new land price in Perth was chump change at $228,000, with median land price growing a modest 6% in 2022.<\/p>\n<p><iframe title=\"Perth Housing Market Update | March 2023\" width=\"1380\" height=\"776\" data-src=\"https:\/\/www.youtube.com\/embed\/5EqbP0B_z-0?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe><\/p>\n<h3 id=\"perth-usurps-adelaide-for-best-value\">Perth usurps Adelaide for best value<\/h3>\n<p>The latest figures mean Perth now has the most affordable residential blocks in Australia.<\/p>\n<p>Meanwhile, on the east coast, Melburnians are forking out $382,125 for new land, with Sydney-siders exsanguinated $716,381.<\/p>\n<p>UDIA WA CEO Tanya Steinbeck said: \u201cNew land sales in Perth have slowed to more sustainable levels and there is a strong pipeline of demand moving forward,\u201d Steinbeck said.<\/p>\n<p>\u201cWe will, however, need to keep our eye on longer-term supply issues and ensure there is a pipeline of housing to meet that ongoing demand.\u201d<\/p>\n<p>Housing supply remains a prime concern for the property industry, with multiple challenges lying ahead.<\/p>\n<p>The report reiterated that supply must keep up with demand. It was noted that: \u201c\u2026 new dwelling growth fundamentally is not keeping up with population growth.\u201d Rental availability has also been in the spotlight, similarly seeing supply challenges and record-low vacancy rates.<\/p>\n<p>The report also highlighted challenges across the medium and high density sectors.<\/p>\n<p>While the land market was fairly stable during Covid, multi-residential developments, particularly apartment projects, have taken a hit: annual completions of multi-unit dwellings were down 20% across Perth over the year to December 2022 and completions are expected to continue to decline over the next three years given construction is down 54%.<\/p>\n<p>Steinbeck said \u201cThe lack of action in the multi-unit sector is concerning. In the context of the drive for more infill development and the delivery of greater housing choice, we need to ensure we keep all options on the table to support the delivery of multi-unit projects in both the medium and high-density categories.\u201d<\/p>\n<div id=\"gallery-1\" class=\"gallery galleryid-24483 gallery-type-slider gallery-size-full gallery-type-slider-ready flickity-enabled is-draggable is-animate slider-loaded\" tabindex=\"0\" data-sg-page-dots=\"true\" data-sg-page-info=\"true\" data-sg-nav=\"true\" data-pk-uuid=\"nq5rmiq7q\">\n<div class=\"flickity-viewport\">\n<div class=\"flickity-slider\">\n<figure class=\"gallery-item pk-lightbox-container is-selected\"><a class=\"pk-image-popup pk-zoom-icon-popup\" href=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-full size-full pk-lqip lazyautosizes pk-lazyloaded\" src=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement.jpg\" sizes=\"800px\" srcset=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement.jpg 780w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement-300x116.jpg 300w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement-768x297.jpg 768w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement-610x236.jpg 610w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement-80x31.jpg 80w\" alt=\"udia land report 2023 greenfield and apartment development movement\" width=\"780\" height=\"302\" data-gallery=\"slider\" data-pk-sizes=\"auto\" data-ls-sizes=\"(max-width: 780px) 100vw, 780px\" data-pk-src=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement.jpg\" data-pk-srcset=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement.jpg 780w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement-300x116.jpg 300w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement-768x297.jpg 768w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement-610x236.jpg 610w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-and-apartment-development-movement-80x31.jpg 80w\" \/><\/a><\/figure>\n<figure class=\"gallery-item pk-lightbox-container\" aria-hidden=\"true\"><a class=\"pk-image-popup pk-zoom-icon-popup\" href=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763.jpg\"><img decoding=\"async\" class=\"attachment-full size-full pk-lqip lazyautosizes pk-lazyloaded\" data-src=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763.jpg\" data-sizes=\"800px\" data-srcset=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763.jpg 780w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763-300x172.jpg 300w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763-768x439.jpg 768w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763-610x349.jpg 610w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763-80x46.jpg 80w\" alt=\"udia land report 2023 greenfield development movement\" width=\"780\" height=\"446\" aria-describedby=\"gallery-1-24505\" data-gallery=\"slider\" data-pk-sizes=\"auto\" data-ls-sizes=\"(max-width: 780px) 100vw, 780px\" data-pk-data-src=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763.jpg\" data-pk-data-srcset=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763.jpg 780w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763-300x172.jpg 300w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763-768x439.jpg 768w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763-610x349.jpg 610w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-greenfield-development-movement-e1680139911763-80x46.jpg 80w\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 780px; --smush-placeholder-aspect-ratio: 780\/446;\" \/><\/a><figcaption id=\"gallery-1-24505\" class=\"caption wp-caption-text gallery-caption\"><em><strong>Source: UDIA, Research4.<\/strong><\/em><\/figcaption><\/figure>\n<figure class=\"gallery-item pk-lightbox-container\" aria-hidden=\"true\"><a class=\"pk-image-popup pk-zoom-icon-popup\" href=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409.jpg\"><img decoding=\"async\" class=\"attachment-full size-full pk-lqip lazyautosizes pk-lazyloaded\" data-src=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409.jpg\" data-sizes=\"800px\" data-srcset=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409.jpg 780w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409-300x148.jpg 300w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409-768x378.jpg 768w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409-610x300.jpg 610w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409-80x39.jpg 80w\" alt=\"udia land report 2023 apartment development movement\" width=\"780\" height=\"384\" aria-describedby=\"gallery-1-24503\" data-gallery=\"slider\" data-pk-sizes=\"auto\" data-ls-sizes=\"(max-width: 780px) 100vw, 780px\" data-pk-data-src=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409.jpg\" data-pk-data-srcset=\"https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409.jpg 780w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409-300x148.jpg 300w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409-768x378.jpg 768w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409-610x300.jpg 610w, https:\/\/thepropertytribune.com.au\/wp-content\/uploads\/2023\/03\/udia-land-report-2023-apartment-development-movement-e1680139941409-80x39.jpg 80w\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 780px; --smush-placeholder-aspect-ratio: 780\/384;\" \/><\/a><figcaption id=\"gallery-1-24503\" class=\"caption wp-caption-text gallery-caption\"><em><strong>Source: UDIA, CoreLogic<\/strong><\/em><\/figcaption><\/figure>\n<\/div>\n<\/div>\n<p><button class=\"flickity-button flickity-prev-next-button previous\" disabled=\"disabled\" type=\"button\" aria-label=\"Previous\"><\/button><\/div>\n<p>Apartments are an important part of the solution to addressing housing needs, but they cannot come fast enough.<\/p>\n<p>\u201cThese are the types of projects that take the longest to deliver, so when the well runs dry in terms of sufficient supply of apartments in the pipeline \u2013 the pain from lack of housing choice will be felt for an extended period,\u201d said Steinbeck.<\/p>\n<p>\u201cUDIA WA has recommended that the McGowan Government make the Off-the-Plan Duty Rebate Scheme permanent and extend it to apartment projects under construction,\u201d Steinbeck said. \u201cWe also want to see the Foreign Buyers Surcharge removed.\u201d<\/p>\n<p>\u201cFor apartment projects in particular, developers rely heavily on presales in order to make a project viable,\u201d Steinbeck said. \u201cThese measures will assist in building much needed consumer confidence and attracting investors in this sector of the market.\u201d<\/p>\n<p>\u201cIn addition our recommendations in relation to the built form sector, UDIA WA supports the leadership role of planning in bringing relevant government agencies together to deliver on the strategic vision behind the Perth and Peel @3.5m planning documents that aim to accommodate sustainable population growth and shape Perth\u2019s future as a more vibrant and connected city,\u201d Ms Steinbeck said.<\/p>\n<p>READ MORE VIA <a 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property<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/he-sometimes-struggled-to-pay-staff-but-owns-a-4m-holiday-home\/\" target=\"_self\" rel=\"noopener\">He sometimes struggled to pay staff, but owns a $4m holiday home<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/abandoned-land-for-sale\/\" target=\"_self\" rel=\"noopener\">Abandoned land for sale<\/a><\/li>\n<li><a class=\"wpp-post-title\" href=\"https:\/\/www.propertynoise.co.nz\/wellingtons-st-gerards-monastery-sold-after-three-weeks-on-the-market\/\" target=\"_self\" rel=\"noopener\">Wellington\u2019s St Gerard\u2019s Monastery sold after three weeks on the market<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: The beaches are to die for as well. NEWS.COM.AU<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/its-official-this-is-australias-most-affordable-city-watch\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":42710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478125054,478098521,478098539,478125055,478102611,478125056,478110136,478101955,478098873,478098579,478098510,478098509,478125057],"class_list":["entry","author-data123nz","post-42709","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australias-most-affordable-city","tag-australians","tag-perth","tag-perth-homes","tag-perth-house-prices","tag-perth-houses","tag-perth-real-estate","tag-perths-property-market","tag-property-investment","tag-property-market","tag-property-news","tag-real-estate-news","tag-the-urban-development-institute-of-australia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>It&#039;s official: This is Australia&#039;s most affordable city | WATCH - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/its-official-this-is-australias-most-affordable-city-watch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It&#039;s official: This is Australia&#039;s most affordable city | WATCH - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: The beaches are to die for as well. 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