Lack of housing supply causes property prices to climb again as YIMBY movement gains pace

Property prices increased by 0.6 per cent in April, with higher demand for a limited supply of housing keeping prices elevated.Economists say while building more houses is important, there are other ways to increase housing supply, including through tax.

"But overall, it comes back to the fact that demand is still managing to outpace the supply of property in the market."Data from CoreLogic shows house prices have risen for the 15th straight month in April. Here's what property prices look like across the country.While Perth saw the greatest increase to property values last month, Sydney remains the only capital city with a median property value over $1 million, according to CoreLogic.

"We're losing families, we're losing essential workers, all of these people make a city functional."The ongoing housing affordability crisis is why Ms Neighbour decided to co-found Sydney YIMBY, or 'Yes In My Back Yard'. The solution to a lack of affordable housing, as Ms Neighbour sees it, is more development, especially in suburbs closer to the city centre, and buildings that are medium and high density.

"So we're sort of talking about dual occupancies, up to six storey apartments, particularly around town centres, and around train stations, that's going to bring more vibrancy, density drives amenity — we have more shops and a better lifestyle."Across the road from the proposed new Coles site sits another potential future development at a Woolworths supermarket that has been met by even stronger resistance from local residents.

In contrast, Ms Neighbour said YIMBYs tended to be younger, in their 20s to 40s, renting, time-poor with young children and working full time.The application for the new Coles supermarket on the council website reveals hundreds of submissions opposing the development with reasons ranging from increased traffic, the aesthetics of the design, to the height of the proposed building.

"I don't agree with those who simply say, well, yes to everything. But I think the community needs to be able to have a look at what's being proposed and to have some input."It's for that reason Ms Trevallyn-Jones does not consider herself to a NIMBY, and personally felt as though the proposal for the new Coles supermarket was well designed.

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