Is it a housing ‘Recession’ or a ‘Rejection’ of bad policy asks Fawkner Residents Assoc’s Joe Perri?

Over the past few months economists and commentators have been debating if the property market is experiencing a short-term correction or a more serious Recession and in doing so, have overlooked the other “R” word – Rejection – said Fawkner Resident Association’s Mr Joe Perri.

Commenting further, Joe Perri said the impact of consumer rejection and acute nervousness about the quality and longevity of newly constructed homes and apartments shouldn’t be underestimated as a very real contributor to the current downturn in the property market – especially within the inner-city municipalities that have been most affected by the construction boom.  

Until the arrival of the current downturn, streets and suburbs were literally under attack by developers constructing overpriced poorly designed three, four and five-to-a-block developments with barely room for a decent clothes hoist and adequate carparking.  Even the few remaining parcels of precious open space and parks are being bulldozed for development further intensifying the heat island effects on urban communities.

If apartment living wasn’t bad enough, developers providing insufficient visitor carparking has left high rise dwellers isolated from friends and family regretting their decision. 

“I don’t blame prospective home buyer / consumers and the new migrants that have been enticed to Australia asking themselves ‘what am I getting for my money’?”, said Joe Perri.

The spotlight is also intensifying on Spring Street’s planning and development process that has been very simple in its application – just shove it down the throats of local residents and buyers without consideration of the consequences.  

“Regrettably, Spring Street has chosen to view sustainable town planning as a hindrance to economic growth”, said Joe Perri.

“Is it any wonder that the response to the State Government’s one size fits all / pack them in solution has resulted in buyers saying enough is enough?”

Joe Perri continued, “Added to this scenario is the tightening of lending conditions by financial institutions following the Royal Commission.  The Opal Tower disaster in Sydney and growing litany of quality related construction cases must surely be impacting on the appetite of banks to lend for housing”. 

Ironically, while the number of buyers is on the decline, vocal resident action groups are on the rise throughout Melbourne reflecting the resentment of locals to a draconian framework that diminishes their quality of living whilst simultaneously ensuring their objections and voices are gagged.

“I’ve often compared the government zeal for development to the 1991 Hollywood movie Thelma & Louise with Australia’s three layers of government hands entwined in the car driving to the abyss in order to escape their pursuers”. 

“Until now, common sense and the principles of sustainable suburbs has been deliberately rejected by our politicians”. 

“However, the combined force of buyer Rejection and grassroots community anger voiced through the growing number of resident action groups is compelling government to put the brakes on development and rethink political agendas”, concluded Joe Perri.

ENDS

Issued by the Fawkner Residents Association

Media enquiries:                 Mr. Joe Perri

                                                Mobile:          +61 412 112 545

                                                Email:             joe.perri1@gmail.com