The Economics of NIMBY

Tim Colebatch, economics editor for The Age, has written an article commenting on various factors impacting housing affordability. He begins with an analysis of median house prices from the Valuer-General:

“in the September quarter last year, there were 116 suburbs in which the median house price was less than $400,000. But there was a catch. Of those 116 suburbs, 86 were 20, 30, 40 or more kilometres out of town.”

The report covers successive Federal Government policies that have contributed to the imbalance of housing supply and demand before concluding with a series of points that could help to stabilise the current housing market. These include a renewed government role in the provision of affordable rental housing and a societal change – to kill of the NIMBY syndrome.

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