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
Facebook push to find Gold Coast's homeless Princess permanent accommodation
Tom Forbes, Nicole Dyer and Kirsten Webster ABC (No paywall)Dressed in a bikini, David "Princess" Buncombe has been turning heads in Surfers Paradise for more than 20 years. Now, the 61-year-old homeless "child of God" has become the focus of an online campaign, as friends try to find the local identity a permanent place to call home. ... The local St John's Crisis Centre provided more than 33,000 meals to homeless and vulnerable people in the past financial year.
https://www.abc.net.au/news/2021-10-28/push-to-find-homeless-sur…
# Australia, Homelessness, Housing market, Personal stories.House rental yields fall as property prices soar across the country: Domain Rent Report
Melissa Heagney Domain (No paywall)Rental yields have dropped in most Australian capitals, new data shows, with booming house prices clipping rent profits and forcing investors to rethink where they will buy. Though many have traditionally looked to invest close to their own capital cities, some are now looking further afield, experts say, investing regionally or in other states to get better returns.
https://www.domain.com.au/news/house-rental-yields-fall-as-prope…
# Australia, Rent, Landlords and agents, Regional NSW.Sydney house prices hit record high, with median climbing to almost $1.5 million
Kate Burke Domain (No paywall)Sydney property prices have climbed to record heights yet again, with the median house price now just shy of $1.5 million and the typical apartment costing more than $800,000.
Greater Sydney house prices jumped about $720 per day over the September quarter to reach a record median of $1,499,126, the latest Domain House Price Report, released on Thursday shows. Annually, the median is up a massive 30.4 per cent, or about $349,000, over the year to September, marking the strongest annual growth since Domain records began in 1993 – with prices in half a dozen regions rising at least $500,000. While Sydney’s housing market had seen phenomenal growth, said Domain chief of research and economics Nicola Powell — house prices have risen more than three times faster than unit prices over the year — the pace of the price hikes has eased substantially.
https://www.domain.com.au/news/sydney-house-prices-hit-record-hi…
# NSW, Strata, Housing market.How high can house prices rise, with Australia’s combined capital median already near $1 million?
Elizabeth Redman Domain (No paywall)How high can house prices rise? The median house in Sydney will now set you back almost $1.5 million, and for that budget, don’t expect to live very close to the CBD. In Melbourne, it’s nearly $1.04 million, and in Canberra, $1.07 million, the latest Domain House Price Report for the September quarter found. The capital city average is nudging $1 million.
https://www.domain.com.au/news/how-high-can-house-prices-rise-wi…
# Australia, Strata, Housing market.Revealed: The 10 best (and worst) areas when saving for a house deposit
Matthew Elmas The New Daily (No paywall)The average Australian must now wait more than eight years to save a house deposit in Sydney after a pandemic surge in house prices. Meanwhile, the average national wait time has stretched out to five years and 10 months after tripling in length since the 1990s. Comparison site Finder released the data this week as part of an analysis that revealed the 10 most affordable and 10 least affordable areas in which to buy a house in Australia.
https://thenewdaily.com.au/finance/property/2021/10/27/house-dep…
# Australia, Home ownership, Housing affordability, Housing market.What documents do you need to apply for a rental property?
(No paywall)Ready to apply for a rental property? An agent may ask you to provide additional documents to help with the application process. (rent.com.au)
# Australia, Rent, Starting a tenancy.A new rent-to-own scheme presents a big gamble on the housing market
Zac Crellin The New Daily (No paywall)A new rent-to-buy scheme aims to make buying a first home more accessible, but financial commentators say buyers need to be wary of pitfalls before jumping at a deal.
The first customers of Sydney-based service OwnHome moved into their new house last week, and clients have also settled on two more properties. Unlike other rent-to-buy services, OwnHome allows prospective buyers to choose any freestanding home or terrace of their liking.
https://thenewdaily.com.au/finance/property/2021/10/26/ownhome-r…
# Australia, Home ownership, Housing market.'World's greenest residential building' reduced to 20 storeys after Brisbane City Council questions size
Lucy Stone ABC (No paywall)A planned 32-storey apartment tower touted as the "world's greenest residential building" has been significantly scaled back after Brisbane City Council expressed concerns about its size.
https://www.abc.net.au/news/2021-10-27/urban-forest-building-dow…
# Australia, Climate change, Local Government, Planning and development.