COMMITTEE 4 Wagga (C4W) has seized on a new report card that ranks the city as having some of the world’s most affordable housing as a show of confidence to hold up to big business.
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According to the Demographia International Housing Affordability Survey, Wagga ranked 14th in Australia for affordable housing ahead of capital cities. The city ranked 258th in the world for affordable locations, with a median house price of $320,000.
C4W chief executive Chris Fitzpatrick said the report was crucial recognition of the city’s stable economy and housing market that doesn’t see the “booms and crashes” of Sydney and Melbourne.
Mr Fitzpatrick said the international acknowledgement was sought after because the city could use it to attract newcomers including business, government departments and new residents.
Civic leaders are currently grappling with how to increase Wagga’s population over its regional rivals.
Though dubbed as stable growth, the city’s population increased by just 1 per cent last year.
We want to be on that list: Fitzpatrick
“We want to be on that list," Mr Fitzpatrick said.
“It shows the stability of our real estate market and the diversity of our employment opportunities that aren’t reliant on one particular industry.
“It adds to the argument about the need to attract people to Wagga. If we can grow those population statistics, we can be a force in NSW and use that to grow our assets and attract further investment.”
Mr Fitzpatrick said Wagga struggled with a “distance issue” from Sydney, disadvantaged by other regional centres such as Bathurst and Orange that are closer.
But he said the affordability of Wagga presented a compelling case for decentralisation.
“The value of land in the big city is starting to become a problem for business,” Mr Fitzpatrick said.
“The bigger businesses are confronting land deals worth millions of dollars. So Wagga is attractive on that front, but regional cities not only need to be affordable, they need to have vibrant economies with health, education and rich recreational facilities.
“We have all of those.”
The ranking comes amid a push for Wagga to secure an air link to Canberra, which is backed by a Daily Advertiser campaign and supported by business and political leaders including the ACT Chief Minister. A new air link is seen as a driver of business and investment.
