UDIA Submission on Draft Wollongong Housing Strategy
The Housing Strategy presents the Council with an opportunity to further address some of the entrenched affordability issues that have emerged due to a lack of housing supply in key areas and record low vacancy rates caused by rapid in-migration and rising local housing demand. With a median house price in the Wollongong City LGA at $1.2 million, a rise of over 32% since 2020, UDIA believes that Council must act to reduce further pressures on housing costs and house budgets.
The Housing Strategy should become more responsive to the housing stress points, which are now beginning to impact a broader cross-section of the community. This should occur through facilitating development at strategic locations, enabling more housing diversity and tenure options, amending planning provisions and working with key stakeholders on future development sites.