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
The top 5 reasons why house prices keep going up and up
Caitlin Fitzsimmons The Sydney Morning Herald (Paywall)There are a few things in life that are quintessentially Australian – among them Vegemite, the Sydney Opera House and discussing the runaway property market. ... Hugh Hartigan, a senior adviser at the National Housing Finance and Investment Corporation, says housing serves two purposes: it’s a financial asset and provides shelter. Demand for shelter increases when the population rises, while demand for housing as a financial asset is heavily influenced by economic factors, particularly interest rates.
https://www.smh.com.au/business/the-economy/the-top-5-reasons-wh…
# Australia, Home ownership, Housing market, Planning and development, Tax, Welfare.5 key questions to ask a potential aged care home
Rachel Lane The Sydney Morning Herald (Paywall)Choosing an aged care home for yourself or a loved one can be overwhelming. Sadly, for many families, it is a decision undertaken in haste, with children often tasked with making a list of acceptable homes within a matter of days. [Read on]
https://www.smh.com.au/money/super-and-retirement/5-key-question…
# Australia, Federal Government, Housing market, Older people.Rents flatten after Government housing changes: Trade Me
Catherine Harris (No paywall)From New Zealand ... Rents came to a grinding halt in May, defying political predictions that changes to rental investment would send rents soaring. According to Trade Me's monthly rental index, the national median rent has remained static for the third consecutive month at $540 per week. It also remained unchanged from April in six regions: Auckland, Bay of Plenty, Canterbury, Southland, Wellington and Manawatū/Whanganui. Trade Me Property Sales director Gavin Lloyd said the flat-lining rents were interesting, given predictions that rents would rise due to Government changes to the housing market. (Stuff)
https://www.stuff.co.nz/business/125543691/rents-flatten-after-g…
# International, Rent, Housing market, Landlords and agents.Interest rates could rise: Economists warn home owners about higher repayments in 2022
Shane Wright and Jennifer Duke The Sydney Morning Herald (Paywall)Home buyers taking on huge loans to get into Australia’s property market could face higher mortgage repayments as early as November next year with the nation’s biggest lender predicting the Reserve Bank will hike rates much sooner than expected.
https://www.smh.com.au/politics/federal/interest-rates-could-ris…
# Australia, Home ownership, Housing market.Number of first home buyers doubles in WA, fanning hopes of rent relief
Peter de Kruijff The Sydney Morning Herald (Paywall)The number of first home buyers taking the plunge into the West Australian property market has doubled in the past year as aspiring home owners take advantage of COVID-19 stimulus grants. Property experts hope the increase in renters entering the home ownership market will provide relief for Perth’s tight rental market in the next six to 12 months.
https://www.smh.com.au/national/western-australia/number-of-firs…
# Australia, Rent, Home ownership, Housing affordability.Have rents in Wellington stagnated, or simply 'gone as high' as they can?
Ethan Te Ora (No paywall)From New Zealand ... Wellington’s rentals are famously mouldy, rundown and expensive. And for the first time in an age the price to live in them isn’t increasing, defying predictions landlords would react to rental investment changes with large rent increases. Is that a cause for celebration? Not really, say a rental advocate, a property investor and a top economist. (Stuff)
https://www.stuff.co.nz/life-style/homed/housing-affordability/1…
# International, Rent, Housing affordability, Housing market.Collingwood and South Yarra new sites in Victorian government's $5.3 billion social housing project
ABC (No paywall)Collingwood and South Yarra will have new public housing as part of the Victorian government's $5.3 billion commitment to build more than 12,000 social and affordable homes. Acting Premier James Merlino said the "Big Housing Build" was the single biggest investment in social and affordable housing in Victoria's history. "Just these two projects will create around 2,000 jobs and deliver 480 new homes," he said.
https://www.abc.net.au/news/2021-06-27/public-housing-announcmen…
# Australia, Public and community housing, Housing market, State Government.New Queensland town to spring up as thousands stream over the border
Felicity Caldwell The Sydney Morning Herald (Paywall)A new bayside precinct, just a stone’s throw from an award-winning winery, is set to be created as south-east Queensland prepares for an influx of tens of thousands of new residents. The site in Southern Redland Bay has been chosen as a “priority growth area” by the Queensland government and will unlock more than 5000 lots, aimed at improving land supply and housing affordability.
https://www.smh.com.au/politics/queensland/new-queensland-town-t…
# Australia, Affordable housing, Housing market, Planning and development.