This article by Eugenie Stockmann on Social capital and housing was published in ‘Thinking Allowed’ in the Fremantle Herald in October 2016.
NO MATTER how much one saves by not brunching on avocado toast, house affordability is an issue Western Australians will be dealing with for a long time. With median house prices in Perth over $500,000, good news has come from the City of Fremantle, which is encouraging a cooperative venture for self-designed and built housing.
A 1477sqm site at 7 Quarry Street will be a showcase for an innovative development that provides a diversity of housing options with positive sustainability outcomes. Because it is to be designed and built under owners’ guidance, there is no developer’s margin – usually around 20 per cent of total cost – so the project can deliver more affordable housing.