The Real Estate Institute of Australia (REIA) President, Ms Leanne Pilkington, has emphasised the critical need for immediate and targeted measures to tackle escalating housing pressures in regional Australia following the release  of the Year 2 Progress Report by the Regional Australia Institute (RAI). 

“The latest data reveals that the number of city-dwellers considering a move to regional areas has doubled over the  past 18 months. This underscores the urgent need to address key pressure points, particularly housing availability  and affordability, to support regional communities. 

“The persistently low regional rental vacancy rates, which remain well below the three per cent threshold for  balanced rental markets, highlight the ongoing housing supply challenges in these areas. 

“Regional areas have also experienced a sharper increase in house prices compared to capital cities, with prices  rising by 54.2 per cent from March 2020 to December 2023, compared to 29.3 per cent in urban centres,” she  added. 

REIA partnered with the RAI and Master Builders Association earlier this year to host the National Regional  Housing Summit, where nearly 300 delegates gathered in Canberra and online to address these critical issues.  

Ms Pilkington said the Summit reinforced that regional Australia requires bespoke solutions that cater to the unique  market dynamics of each community. 

“Key messages from the Summit included the need for long-term, systemic thinking, increased infrastructure  investment, and enhanced collaboration across all levels of government and stakeholders. 

“REIA’s policy positions include governments creating conditions for more dynamic regional rental markets,  including significant investment in social and affordable housing, increasing housing supply and diversity and  ensuring a steady pipeline of development-ready land is vital to meet demand.” 

Ms Pilkington said the Australian Government’s recent housing programs, including the Housing Australia Future  Fund, are positive steps but currently lack a specific allocation for regional areas. 

“This is concerning given that the rental and acute housing crises are most pronounced in regional Australia.

“REIA is committed to ensuring that the unique needs of regional communities are prioritised in Australia’s housing  agenda. 

“A thriving regional Australia is vital to the nation’s overall success so addressing these challenges requires a  unified and immediate response from all stakeholders.” 

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