Medium- and high-density development in established suburbs is being spruiked as the solution to Australia's housing crisis. But there are still some risks.
Not borrowing more than they could afford has meant the couple hasn't been as exposed to interest rate rises as others.
"We're all enriched by coming together as a community and making heaps of new friends, so it's maybe even something better than what we thought we'd lost."Last month, federal, state and territory governments announced a commitment to build 1.2 million new homes in five years from July next year. "Rezoning land is and has been for a long time a state government decision in Victoria, on the advice of councils, for sure," he says."So the idea that we would necessarily have better decisions being made by state government rather than local government is questionable.However, Mr Butt says there is a need to make some bold decisions about increasing housing in areas with good quality amenities, and how we can build more affordable and social housing.
He points out the state government already has call-in powers, recently seizing planning control of a seven-storey tower development in Box Hill.He has also urged the Victorian government not to take planning controls away from councils. "If things aren't balanced in the public interest, and in the interests of the established population, being reasonably accommodated, the community will react the point that they will arc up," he says.
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