What’s the Best Way to Solve the Australian Housing Crisis?

Two high rise multi-family buildings in a city. These buildings are part of the answer to the Australian housing crisis

Rising property prices, rent and cost of living combined with a shortage of housing stock are creating the perfect storm of Australia’s housing crisis. Property prices surged by 7.7% in the past 12 months and national vacancy hovered around a too-tight 1.1% in April. Many poised to grab the first rung of the property ladder are finding it out of reach.

There is no magic solution for such a large and complex problem. Rather, a comprehensive approach is needed. Creative solutions from developers and government policies on housing will be part of the answer. Innovative ideas, like those in the PropTech space, might also play a role in moving us towards the light at the end of this tunnel. Could building management software be a key player in unlocking a more sustainable housing market? 

The Government’s approach to the Australian housing crisis

The Australian government is tackling the housing crisis on multiple fronts. Their focus is on increasing social and affordable housing options alongside stimulation of the Build-to-Rent (BTR) sector.

The $10 billion Housing Australia Future Fund (HAFF) is a significant investment, supporting the construction of 40,000 new social and affordable homes over five years. The $2 billion Social Housing Accelerator program is speeding construction along. Queensland is utilizing over $398 million from this program to build 600 new homes by 2025.

Beyond social housing solutions, the National Planning Reform Blueprint aims to support the construction of 1.2 million new homes across Australia. The BTR sector is being incentivised with measures such as discounted land tax, increased tax deductions for capital works, and an exemption from the foreign investor land tax surcharge.

Collectively, these government initiatives aim to address the housing shortage and increase the availability of affordable housing options for Australians. But it’s not the whole solution we need.

The role technology plays in solving Australia’s housing conundrum

While the government’s initiatives and a focus on BTR development are positive steps, the Australian housing crisis demands a multifaceted approach. This is where technology, particularly building management software, can play a surprising role.

BuildingLink’s building management software (BMS), contributes to a stable and sustainable housing market by…

  • Improving Efficiency: BuildingLink streamlines property management tasks, saving valuable time and resources for property managers. This translates to quicker response times for tenants’ maintenance requests, improved communication, and a more positive living experience. Satisfied tenants stay longer, reducing vacancy rates and contributing to a more stable rental market.
  • Data-Driven Decisions: BuildingLink offers valuable data and analytics capabilities. Property managers can analyse trends in maintenance requests, tenant satisfaction surveys, and facilities use. These insights can inform investment decisions in preventative maintenance and potentially lead to lower service charges for tenants. That makes rental options more attractive for tenants and developers.
  • Unlocking Innovation: BuildingLink integrates with technology partners, opening doors for innovation. Imagine a future where tenants can seamlessly book amenities, report issues, or trade with neighbours via a user-friendly app powered by BuildingLink. These benefits enhance the tenant experience and increase the appeal of rental properties.

Building management software like BuildingLink is not a stand-alone solution for Australia’s housing crisis. But it does enhance the effectiveness of other initiatives. By improving operational efficiency, providing valuable data, and fostering innovation in the rental market, BuildingLink plays a significant role in creating a more efficient and sustainable housing ecosystem in Australia.