REA Group has teamed up with News Corp Australia on an editorial series to explore the steps and solutions required to enable Aussies to buy their first home.
Entitled Saving the Great Australian Dream, the investigation runs until September 9 across News Corp’s state and regional newspapers, taking a deep dive into the issues facing the nation’s housing market.
In Adelaide, The Advertiser Editor Gemma Jones is leading the editorial series.
“Rising property prices, record rate rises and a high cost of living are just a few factors making it challenging for young people to get themselves on the property ladder,” she said.
“They are searching for answers at a time when there is also a housing supply crisis.
“Through Saving the Great Australian Dream we want to revive the hopes of young Australians who yearn to have a place to call their own, it is one of the biggest issues facing people under 40.
“The series will advocate for a red tape reduction at state government and council level so home builders can get on with the job, land release by state governments and give practical steps to aspirational young Australians.”
News Corp and REA Group will bring together data to highlight issues and offer solutions and commentary from experts, industry leaders and interest groups across the private and public sectors and property and housing industry.
The PropTrack Housing Affordability Index is one such set of data, measuring housing affordability using data dating back to the mid-1990s.
The Index shows the share of homes a typical household can afford to buy has never been lower.
“The data is clear, achieving the great Australian dream has become incredibly challenging,” REA Group General Manager Content and Growth, Tobias Johnstone, said.
“To tackle housing affordability, we need both a comprehensive measure of the problem as well as an informed national conversation on how to solve it.
“In partnership with News Corp Australia, this series illuminates the glaring need for a significant and targeted increase in Australia’s property supply.”
Across the week the series will cover the challenges created by cost-of-living pressures, tight lending policies, the urban sprawl, student loan debts, social issues such as living inheritances, economic conditions and government policies.
The series will also provide consumers with practical information and advice on making a start on the property ladder, including the best first home-buyer suburbs in each state.
With content driven by and syndicated across News Corp Australia’s property network, the company will take an all-of-business approach to the series.