A Current Affair examines Victoria's high-density zoning push near transport hubs, including 20-storey apartment plans for Brighton. Intrapac chief executive Max Shifman says apartments must sell near $14,000 per square metre, putting three-bedroom homes beyond most buyers, and argues policy should start from what people can afford.
As I told A Current Affair: “They're selling this affordability vision for young people where they can get into apartments in great areas, but they don't do the math on how much it's going to cost people,”
I also said: “And the reality is it's out of most people's price range.”
And I added: “We'd be much smarter collectively, if we worked backwards and said 'people have this capacity to buy on average, what sort of homes can work for them?',”
I went on to say: “At the moment the only things that will really fit that range for most people is gonna be a detached house in a new greenfield area or possibly an attached terrace or townhouse in a middle ring suburb.”
A Current Affair, 26 October 2024 — Read the full article