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
China's property bubble may be about to burst, and it could cost Australia dearly
Ian Verrender ABC (No paywall)China's transformation from an agrarian-based economy into an urbanised industrial powerhouse over the past 40 years has been achieved on a scale and speed never before witnessed in history. With the introduction of a free market came the opportunity for fabulous wealth from real estate as millions of farm workers flocked to newly built cities. Thus began the rise of the property moguls. Just as in the West, real estate speculation has become a national pastime as prices have gone into orbit. The end result has been much the same. Sky high rents, unaffordable housing and younger generations seething that they have been locked out of the market. ... How does this affect us. That's easy. Our raw materials have played an instrumental role in China's property boom. All those apartment towers require a huge amount of steel. In fact, property developers account for around half of all China's iron ore demand.
https://www.abc.net.au/news/2021-09-06/china-property-bubble-may…
# Australia, Housing affordability, Housing market, International, Landlords and agents.Advocates say government’s women’s summit must address housing ‘crisis’
Josh Butler The New Daily (No paywall)Social agencies are pleading with the federal government to take a housing “crisis” more seriously, after the issue of emergency accommodation for domestic violence survivors only got a “fleeting reference” in the federal women’s safety summit this week. Many thousands of women each year are left with little option but to return to their abusers or become homeless, a situation that social advocates say must be urgently rectified. The federal Labor opposition has slammed the government for having “failed to listen” to survivors of family violence by not making the issue a higher priority.
https://thenewdaily.com.au/news/2021/09/06/womens-summit-housing…
# Hot topic Australia, Domestic violence, Homelessness, Housing market, Women.Mission Australia’s Common Ground Camperdown homelessness service in lockdown after four COVID cases
(No paywall)A six-storey residential building in Sydney’s inner west for those experiencing homelessness has been placed into lockdown after four tenants tested positive for COVID-19. Mission Australia confirmed to 7NEWS.com.au that its Common Ground facility in Camperdown, which includes 104 units, was placed into lockdown at 8am and will remain so for two weeks until Wednesday, September 15. (7news) You will find the same story at: [https://www.greenleft.org.au/content/social-housing-estate-forced-lockdown]
https://7news.com.au/lifestyle/health-wellbeing/mission-australi…
# NSW, Public and community housing, Coronavirus COVID-19, Health.Vacancy rates in Melbourne rise as lockdown bites, while Sydney stays stable
Sue Williams Domain (No paywall)It’s a tale of two cities forged by the latest COVID-19 lockdowns, with the vacancy rate in the rental property market jumping abruptly in Melbourne but remaining stable in Sydney.
https://www.domain.com.au/news/vacancy-rates-1085115/?utm_campai…
# Australia, Rent, Housing market.The housing rocket ride set to splutter
Michael Pascoe The New Daily (No paywall)With the usual caveat that forecasting is a mug’s game, the housing price crystal ball is turning darkly cloudy.
Not today and not tomorrow but within an imaginable period, the fundamentals of weak population growth and affordability concerns are getting set to overcome the effects of cheap money, FOMO (fear of missing out) and TINA (there is no alternative). That’s the lesson to be drawn from combining two lots of housing data published this week – CoreLogic’s home value index and SQM Research’s national property listings.
https://thenewdaily.com.au/finance/property/2021/09/02/michael-p…
# Australia, Coronavirus COVID-19, Housing affordability, Housing market.Campsie residents feel the pain over their locked-down suburb’s density push
Angus Thompson The Sydney Morning Herald (Paywall)A COVID-19-struck community with severely limited open space has been asked to review a plan to increase the number of homes by more than 70 per cent while enduring the strictest lockdown the city has seen. The residents of Campsie, a suburb struggling through punitive restrictions in Sydney’s south-west, are set to see more than 6000 new homes and high-rises but only a fragmentary increase in public space in their area under a masterplan that will be put to a planning panel in a week’s time. ... However, residents, who say the area is already “bursting at the seams”, were livid they were given just days’ notice for the opportunity to provide feedback on the revised draft before the plans were assessed by a panel on September 10.
https://www.smh.com.au/national/nsw/campsie-residents-feel-the-p…
# NSW, Strata, Coronavirus COVID-19, Families, Planning and development.My best 12 tips and tricks for first-home buyers
Jessica Irvine The Sydney Morning Herald (Paywall)... if you have decided your goal is to own a home, here are my top tricks and tips to help you. It won’t get everyone a home, but I hope it provides you some food for thought during what can be a stressful experience.
https://www.smh.com.au/money/borrowing/my-best-12-tips-and-trick…
# Australia, Home ownership, Housing market.Owners of Bayview Apartments in Ryde fix defects after developer goes into liquidation
Josh Bavas ABC (No paywall)A group of apartment owners in Sydney's north has had to find millions of dollars to rectify defects in their complex which emerged since it was completed 10 years ago. The developer behind the project — 82-84 Belmore Street Pty Ltd — was liquidated two years after the apartments were built.
https://www.abc.net.au/news/2021-09-03/bayview-apartments-plague…
# NSW, Housing market, Minimum habitability standards.