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
'People are shocked': Sydney homeowners divided over rates plans
Megan Gorrey The Sydney Morning Herald (Paywall)Sydney neighbourhoods are being split over rates payments as the state government's controversial council mergers drive up costs by 40 per cent in some areas as other homeowners save several hundred dollars a year.
https://www.smh.com.au/national/nsw/people-are-shocked-sydney-ho…
# NSW, Housing market, Local Government, Tax.RBA says low rates will push up house prices
Shane Wright The Sydney Morning Herald (Paywall)The Reserve Bank and the Australian Prudential Regulation Authority are prepared to tighten lending standards if record low interest rates result in a housing boom that could leave new home buyers in negative equity or risk them taking on too much debt.
https://www.smh.com.au/politics/federal/rba-says-low-rates-will-…
# Australia, Home ownership, Housing affordability, Housing market.Biden outlines 10-day blitz of executive actions to nullify Trump era
Zeke Millere The Sydney Morning Herald (Paywall)From the United States ... In his first hours as president, Joe Biden plans to take executive action to roll back some of the most controversial decisions of his predecessor and to address the raging coronavirus pandemic, his incoming chief of staff said on Saturday. ... [including] actions meant to prevent evictions and foreclosures for those struggling during the pandemic. Read more ...
https://www.smh.com.au/world/north-america/biden-outlines-10-day…
# Hot topic International, Rent, Coronavirus COVID-19.Grenfell Tower: Survivors lodge multimillion-pound court claim
BBC (No paywall)From the United Kingdom ... A multimillion-pound personal injury claim has been lodged by survivors of the Grenfell Tower fire who were made homeless after the blaze. The complainants alleged that the defendants' failings "separately and cumulatively led to or contributed to the disaster, including the failings of their employees or agents, for which they are vicariously liable".
# Hot topic, Legal significance International, Public and community housing, Local Government.The housing market was going to drop 30pc during the pandemic but instead many areas are booming
Katri Uibu ABC (No paywall)... despite the prediction the housing market could drop by 30 per cent, experts say many parts of Australia have pulled through stronger than ever. ... [Property data expert Louis Christopher] said 2021 is going to be "a tenant's market" for the CBD locations and "a landlord's market" for regional Australia — but beyond that, things would likely return to the pre-pandemic era.
https://www.abc.net.au/news/2021-01-15/housing-market-was-going-…
# Australia, Coronavirus COVID-19, Federal Government, Housing market.Regional NSW rents soar as city dwellers seek a tree change: Domain Rent Report
Tawar Razaghi Domain (Paywall)Out-of-area renters with bigger budgets are pushing rents higher in regional towns around NSW, with demand spilling out of popular spots such as Byron Bay into neighbouring areas, new figures show. Sydneysiders have left the city in droves for a tree or sea change since the pandemic hit last year, pushing up rent costs in popular areas such as the Northern Rivers and the Southern Highlands.
But that has priced out many including locals, pushing up costs in nearby towns as they look to move.
https://www.domain.com.au/news/domain-rent-report-soaring-rents-…
# NSW, Rent, Housing market, Regional NSW.New home lending hit record $24 billion in November
Jennifer Duke The Sydney Morning Herald (Paywall)Lending for new home building hit a record high in November, buoyed by historic low interest rates, the $25,000 HomeBuilder grant and an improving national economy.
https://www.smh.com.au/politics/federal/new-home-lending-hit-rec…
# Australia, Federal Government, Housing market.Plans for Crown Street's new public housing unit tower revealed
Kate McIlwain Illawarra Mercury (Paywall)In Wollongong ... A 13-storey tower, housing a mix of affordable and social units and private apartments, is proposed to replace the old red brick public housing complex at the eastern end of Crown Street.
https://www.illawarramercury.com.au/story/7084094/plans-for-crow…
# NSW, Public and community housing, Affordable housing, Home ownership.