Skilled tradies key to bigger, brighter future
FEDERAL Minister for Regionalisation Senator Bridget Mckenzie, has identified Townsville as one of Australia’s regional centres with growth prospects and ability to significantly increase its population to one million.
This means the abundance of opportunity from life in the tropics will no longer be Australia’s best-kept secret.
With the perfect storm of investors willing to spend cash, it is time to capitalise on the region’s affordability, lifestyle benefits and competitive advantage to attract the next generation of proud North Queenslanders.
As the Townsville residential sector continues to trend upwards, in both established and greenfield markets, housing affordability remains a priority, especially as interstate migration shows no sign of slowing. This demand further reinforces the need for an adequate supply of skilled tradespeople to complete the work.
Encouraging skilled workers and their families to the region is an opportunity not to be wasted as this is the time to build sustainable growth in the local economy.
The private sector is well placed and willing to be part of creating the new households required to meet the demand.
Encouraging a diverse range of housing product, especially in the medium-density range, will ensure that product is on the market quicker, and demand is met.
With further construction jobs yet to be advertised and more investment in the pipeline, the confidence and viability is now a reality.
Compounding the affordability issue is escalating strata insurance prices impacting on the apartment and townhouse construction market.
The eye-watering cost of insurance unfortunately makes it unviable for both owneroccupiers and investors to consider other housing product outside of established or new homes.
Although the announcement earlier this year by the federal government of a $10bn reinsurance pool was welcomed, it is important that more is done on this issue to ensure both locals and interstate migrants have a choice of housing at an affordable price.