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
Sydney and Melbourne have ‘absolutely turned into buyer’s markets’
Tawar Razaghi Domain (No paywall)Sydney and Melbourne have turned into buyer’s markets as vendors take longer to sell their homes and with bigger discounts, new data shows.
https://www.smh.com.au/property/news/sydney-and-melbourne-have-a…
# Australia, Housing market.Pandemic trend here to stay as regional house price growth outstrips Melbourne, Sydney
Rachel Clun Domain (No paywall)The exodus from Sydney and Melbourne driven by the pandemic and work-from-home edicts is here to stay, driving regional house price growth beyond capital cities as the combined value of Australian homes exceeded $10 trillion in the first three months of the year.
https://www.smh.com.au/property/news/regional-house-price-growth…
# Australia, Coronavirus COVID-19, Housing market, Regional NSW.Former Hurstville councillor accepted $170K to help Chinese developer get projects approved, ICAC hears
Nabil Al-Nashar ABC (No paywall)A former Sydney councillor has told the anti-corruption watchdog he accepted bribes of $170,000 from a Chinese developer in exchange for his support of two major development proposals. Also, read two articles on the same matter by Megan Gorrey in 'The Sydney Morning Herald' at: [https://www.smh.com.au/national/nsw/councillors-accepted-bags-of-cash-from-property-developer-icac-told-20220614-p5atgq.html] and [https://www.smh.com.au/national/nsw/ex-councillor-angry-170k-developer-bribes-might-be-revealed-icac-20220615-p5attm.html]
https://www.abc.net.au/news/2022-06-14/icac-inquiry-into-former-…
# NSW, Housing market, Local Government, Planning and development.Inner west residents fear towers will dwarf White Bay Power Station
Megan Gorrey The Sydney Morning Herald (Paywall)Plans to build towers as tall as 22 storeys near the White Bay Power Station have triggered concerns that views towards the heritage-listed site in Sydney’s inner west will be blocked by offices and apartments. The NSW government is restoring the heritage-listed power station at Rozelle as it forges ahead with plans to redevelop the “Bays West”, in the most significant reshaping of a harbour-front site in Sydney since Barangaroo.
https://www.smh.com.au/national/nsw/inner-west-residents-fear-to…
# NSW, Heritage listings, Housing market, State Government.NSW to phase out stamp duty, introduce property tax
Alexandra Smith The Sydney Morning Herald (Paywall)NSW Premier Dominic Perrottet’s long-held goal to radically overhaul stamp duty and introduce a broad-based land tax will be one of the major reforms in the government’s final pre-election budget. The Herald can confirm Perrottet will embark on the significant reform, which will mean some home buyers will be able to opt in to an annual land tax rather than an upfront stamp duty payment.
https://www.smh.com.au/politics/nsw/nsw-to-phase-out-stamp-duty-…
# NSW, Housing market, State Government, Tax.Albanese wants more affordable homes – Australia’s $18 billion community housing sector is ready to help
Andrew Sadauskas The Fifth Estate (No paywall)With affordable housing set to be a key priority for the new Albanese government, a new report has shed new light on the $18 billion community housing sector, and the vital role it plays in Australia’s social housing infrastructure. You can read the report by CHIA at: [https://www.communityhousing.com.au/wp-content/uploads/2022/05/CHIA-Data-Digest-April-2022.pdf]
https://thefifthestate.com.au/business/public-community/albanese…
# Australia, Public and community housing, Affordable housing, Federal Government.How the two iron laws of Australia’s property market put the squeeze on every generation
Cameron Murphy The Guardian (No paywall)Buyers today will be stretched to their limit, just as they were by the interest rates of the late 1980s. ... That period saw mortgage interest rates ratcheting up from 9% in 1983 to their peak of 17% in 1990. It was tough for homebuyers. ... My view as a housing economist is that every generation faces the same two iron laws of housing markets. First, rents and prices tend towards the limit that renters and buyers can pay. Second, the market moves in cycles and opportune times to buy do not last.
https://www.theguardian.com/commentisfree/2022/jun/09/how-the-tw…
# Australia, Housing market.Right to buy put homes in the hands of landlords. Rehashing it will do the same
Bob Kerslake The Guardian (No paywall)From the United Kingdom ... Among the slew of “red meat” policies that are now being put forward to shore up Boris Johnson’s position, there is one that ought to cause real concern for those want to see fair and balanced housing in this country. The government is proposing to resurrect right to buy for tenants in housing association properties, allowing tenants to potentially use their housing benefit in order to buy their social properties at discounts of up to 70% of market price. ... Rather than revive the policy that lost 40% of council homes to private rentals, Johnson should build more affordable housing. Also, read the 'The Guardian view on Boris Johnson and housing: old and failed answers' at: [https://www.theguardian.com/commentisfree/2022/jun/09/the-guardian-view-on-boris-johnson-and-housing-old-and-failed-answers]
https://www.theguardian.com/commentisfree/2022/jun/09/right-to-b…
# International, Public and community housing, Affordable housing, Landlords and agents.