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
New Green Star Home Standard set to make new houses more energy efficient and slash energy bills
Sue Williams Domain (No paywall)New houses across Australia are set to be much better built to withstand climate change, incorporating solar power and water and energy efficiency features with minimal toxins, under a world-first agreement announced on Tuesday. The new scheme, acclaimed as a national “game-changer” in the housing market, will mean buyers could have much healthier homes and see their energy bills slashed by as much as 75 per cent – by over $2000 a year, according to one study.
https://www.domain.com.au/news/new-green-star-home-standard-set-…
# Australia, Utilities water energy internet, Climate change, Housing market.Developer fees adding up to $85,000 a block, driving up housing prices
Shane Wright The Sydney Morning Herald (Paywall)Developers are paying up to $85,000 for every housing block they put on the market, with research showing the fees are driving up property prices and in some cases aren’t being used to develop local infrastructure for new homeowners as intended. As housing affordability tumbles due to soaring prices across the nation’s major cities and regional areas, analysis from the National Housing Finance and Investment Corp suggests councils in NSW and Victoria are being so financially squeezed they are using developer contributions to protect their budgets. Most states and territories require contributions to “social infrastructure” around new housing developments, with roads, playgrounds, water, sewerage and drainage all partly paid for by developers.
https://www.smh.com.au/politics/federal/developer-fees-adding-up…
# Australia, Housing affordability, Housing market, Planning and development, Tax.A big week for energy efficiency standards in Australia
Duncan Murray The Fifth Estate (No paywall)In a trifecta of residential energy efficiency announcements this week, changes appear to be coming thick and fast. As well as proposed updates to the National Construction Code (NCC), The Nationwide House Energy Rating Scheme (NatHERS) is now offering voluntary assessments for existing homes based on the Victorian model, and the Green Building Council of Australia (GBCA) released its new certification standard for industry uptake.
https://thefifthestate.com.au/innovation/residential-2/a-big-wee…
# Australia, Utilities water energy internet, Housing market.Housing boom slowed in August but lockdowns could push prices higher
Jennifer Duke The Sydney Morning Herald (Paywall)The national housing boom is easing with Australia’s property prices rising at their slowest rate since January but lockdowns limiting homes for sale could push values higher. ... [CoreLogic research director Tim Lawless said:]“Housing prices have risen almost 11 times faster than wages growth over the past year, creating a more significant barrier to entry for those who don’t yet own a home”. ... The latest Housing Industry Association measure of housing affordability shows a sharp deterioration across the country over the past year.
https://www.smh.com.au/politics/federal/housing-boom-slowed-in-a…
# Australia, Home ownership, Housing affordability, Human rights.Bank of Mum and Dad ‘prolific’: Now helping adult children on their second homes
Tawar Razaghi Domain (No paywall)Runaway house price growth has seen an increasingly prolific reliance on the “Bank of Mum and Dad” this year but now there are reports from mortgage brokers that adult children are returning a second time for help when they need to upgrade properties. This new trend has raised concerns about a deepening of housing inequality in Australia, with the chance of home-ownership based on a person’s inherited wealth rather than individual effort.
https://www.domain.com.au/news/bank-of-mum-and-dad-prolific-now-…
# Australia, Families, Home ownership, Housing market.Why are property values rising during an economic shock?
Elizabeth Redman Domain (No paywall)Property values are rising despite the economic shock of prolonged and widespread lockdowns, as more people want to buy a home than to sell one. The counterintuitive surge in the housing market has slowed somewhat since the March boom as affordability constraints kick in, but continues even as workers are stood down to curb the spread of COVID-19. Many of those lucky enough to keep their jobs are taking advantage of low interest rates and hoping conditions will improve soon.
https://www.domain.com.au/news/why-are-property-values-rising-du…
# Australia, Coronavirus COVID-19, Housing market.Australian house prices rising at fastest yearly pace since 1989 but signs boom is cooling
The Guardian (No paywall)Australian house prices are growing at their fastest annual pace since 1989, although there are further signs the boom is coming off the boil. CoreLogic’s national home value index rose 1.5% in August to an annual rate of 18.4%. While the monthly increase was still above average, it was the smallest rise since January.
https://www.theguardian.com/australia-news/2021/sep/01/australia…
# Australia, Housing affordability, Housing market.City-fringe land sales hit record as returning Aussies buy lotsCity-fringe land sales hit record as returning Aussies buy lots
Simon Johanson The Sydney Morning Herald (Paywall)Land sales across greenfield estates on Melbourne and Sydney’s outskirts are hitting record highs, driven by Australians coming back from overseas and others being unable to leave.
https://www.smh.com.au/business/companies/city-fringe-land-sales…
# Australia, Coronavirus COVID-19, Housing market.