Council of Mayors (SEQ) launch online SEQ Housing Affordability Calculator

04 / Jul / 2012 | News

Council of Mayors (SEQ), Chairman, Cr Graham Quirk and the Minister for Housing, Homelessness and Small Business, the Hon. Brendan O’Connor MP, today unveiled myhomemysuburb.com.au a user friendly website that calculates the true financial cost of housing choice.

The web based tool is a key deliverable of the Council of Mayors (SEQ) Liveable Compact Cities Project, which was funded by the Common Commonwealth Government’s Housing Affordability Fund.

“This is about busting the myth that you always get a better deal by moving to the city outskirts and commuting long distances,” Cr Quirk said.

“Urban sprawl without the employment, services and public transport to match is no longer sustainable and is having adverse impacts on traffic congestion and our local economies in general, not to mention the household budget.

“Southeast Queensland is expected to need new another 754,000 new dwellings to meet demand over the next 20 years, which is why we now need to look towards more compact cities that promote higher densities around key economic hubs and transport corridors.

“The myhomemysuburb website will help home homebuyers calculate the trade off between the type of home they want versus the suburb they want by taking into account the day-to-day costs such as travel that we often overlook when house hunting.”

For example, the myhomemysuburb website predicts the overall cost for a couple with one child, buying a house at Bald Hills 14 kilometres from the Brisbane CBD would actually work out about $75,000 dearer than buying a unit of the same value in inner-city Woolloongabba once travel and other associated costs were included over a 25 year period*.

The SEQ Housing Affordability Calculator (http://myhomemysuburb.com.au) is only one of the tools delivered through the Liveable Compact Cities Project that aim to support industry and government to plan effectively for the region’s future growth.

The tools and resources of the Liveable Compact Cities Project are tailored to assist both industry and government in areas of leading practice planning, policy development and community engagement, detailed information on these resources can be found at www.seqmayors.qld.gov.au