Housing News Digest
Housing News Digest
The Tenants' Union Housing News Digest compiles our pick of items from all the latest tenancy and housing media, sent once per week, on Thursdays.
Below is the Digest archive from November 2020 onwards. From time to time you will find additional items in the archive that did not make it into the weekly Digest email. Earlier archives are here, where you can also find additional digests by other organisations.
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Archive
Housing approvals hit record high ahead of HomeBuilder grant cut
Jennifer Duke The Sydney Morning Herald (Paywall)Housing approvals hit a record high at the end of 2020 as home builders rushed to take full advantage of historic low interest rates and the federal government’s $25,000 grant for home builders before it reduced in the new year. Read on ...
https://www.smh.com.au/politics/federal/housing-approvals-hit-re…
# Australia, Federal Government, Housing market.US asset management giant raises £190m from council pension funds for affordable housing venture
Dominic Brady Inside Housing (Paywall)A subsidiary of US-based PGIM has launched a UK affordable housing fund after raising an initial £190m from pooled local authority pension funds across England. ... According to Brunel Pension Partnership (BPP), the fund will target occupiers aged 24 to 34 in lower household income quartiles.
https://www.insidehousing.co.uk/news/news/us-asset-management-gi…
# International, Affordable housing, Local Government.Property boom as big a threat to future generations as government debt
Jessica Irvine The Sydney Morning Herald (Paywall)... And when you make debt cheaper – absent a sharp economic shock – Australians tend to go out in droves and borrow more. That pushes up house prices, making that most basic of human needs – shelter – more expensive for younger Australians to obtain.
https://www.smh.com.au/business/the-economy/property-boom-as-big…
# Australia, Home ownership, Housing affordability, Housing market, Young people.Property prices in some cities rise while rents stagnate or fall: Domain data
Melissa Heagney and Rachel Wells Domain (Paywall)Property prices are rising while rents track sideways or fall, with experts warning buyers should be careful about purchasing in neighbourhoods on “shaky ground”.
https://www.domain.com.au/news/property-prices-in-some-cities-ri…
# Australia, Rent, Federal Government, Home ownership, Housing market.Government releases additional 1800 spots for existing property in First-Home Loan Deposit Scheme
Tawar Razaghi Domain (Paywall)An extra 1800 first-home buyers will be able to break into the property market sooner, after the government announced any unused spots from the first round of the First Home Loan Deposit Scheme would be reissued.
https://www.domain.com.au/news/additional-1800-spots-available-i…
# Australia, Federal Government, Home ownership.RBA boss Philip Lowe says household spending holds the key to post-COVID economic recovery
Michael Janda ABC (No paywall)[The RBA governor] ... observed that the past year's run up to record levels should further encourage homeowners to open their wallets ... Higher housing prices can also encourage additional residential construction. That's assuming things don't get out of hand.
https://www.abc.net.au/news/2021-02-03/rba-governor-philip-lowe-…
# Australia, Housing market.The silent factor that’s putting upwards pressure on Australian house prices
Matt Johnson The New Daily (No paywall)It’s hard to believe, but Australian house prices have broken new ground despite the country’s first recession in 30 years. ... the momentum in the property market has largely been driven by rock-bottom interest rates, generous government grants, and buoyant consumer sentiment.
But analysts say a severe shortage of homes is also putting upward pressure on prices.
https://thenewdaily.com.au/finance/property/2021/02/01/supply-de…
# Australia, Housing affordability, Housing market.‘It’s a seller’s market’: Australian house prices push into record territory in January
Matt Johnson The New Daily (No paywall)Australians’ post-lockdown housing obsession appears to show no signs of slowing, with house prices pushing past 2017’s peak to hit a new record high in January. CoreLogic figures revealed national property prices are now 1 per cent above the average value before the pandemic hit, and 0.7 per cent above the previous record set in September 2017.
The biggest price rises across major cities were seen in smaller capitals including Darwin (2.3 per cent), Hobart and Perth (1.6 per cent), and Canberra (1.2 per cent). Sydney and Melbourne prices edged up 0.4 per cent through the month.
https://thenewdaily.com.au/finance/property/2021/02/01/australia…
# Australia, Coronavirus COVID-19, Housing market.