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
Tinkering with the mortgage market won’t solve the UK housing affordability crisis
Mark Stephens The Conversation (No paywall)UK borrowers may see the return of larger, longer-term loans as the government plans a comprehensive review of the mortgage market with the aim of boosting access to finance for first-time buyers. Rather than addressing the real problems with UK housing affordability though, this approach seems to be aimed at helping dig the government out of a housing policy hole.
https://theconversation.com/tinkering-with-the-mortgage-market-w…
# International, Affordable housing, Federal Government, Housing market.Melbourne bayside residents fight heritage listing of their mid-century modern homes
Andrea Nierhoff ABC (No paywall)A battle is brewing in Melbourne's leafy bayside suburbs over mid-century homes, with claims a preservation plan will see property prices drop and prevent much-needed upgrades.
https://www.abc.net.au/news/2022-07-03/melbourne-bayside-mid-cen…
# Australia, Heritage listings, Housing market.The key factor putting a floor under property prices
Tawar Razaghi Domain (No paywall)Australia’s low unemployment rate is a key factor in putting a floor under property prices, experts say, but that could be at risk if interest rates rise too high, too fast.
https://www.smh.com.au/property/news/the-key-factor-putting-a-fl…
# Australia, Housing market, Work, employment.‘A watershed moment’: St Leonards South apartment plan divides council
Megan Gorrey The Sydney Morning Herald (Paywall)An apartment block that has become a lightning rod for debate over a major redevelopment on Sydney’s lower north shore has been approved by a planning panel, despite strident opposition from residents and councillors. Councillors from Lane Cove voted at an extraordinary meeting in June to oppose developer Hyecorp’s proposal for a 12-storey apartment building on Canberra Avenue in St Leonards, despite council staff recommending that the project had merit and should proceed.
https://www.smh.com.au/national/nsw/a-watershed-moment-st-leonar…
# NSW, Strata, Local Government, Planning and development.Property price falls may be bigger than expected
John Collett The Sydney Morning Herald (Paywall)Property prices could fall by more than initially feared as the Reserve Bank ratchets up official interest rates to fight surging inflation. Even before Tuesday’s increase in the cash rate of 0.5 percentage points – in line with market expectations, to take the cash rate to 1.35 per cent – property watchers were already forecasting price falls of between 15 and 20 per cent in Sydney and Melbourne.
https://www.smh.com.au/money/investing/property-price-falls-may-…
# Australia, Housing market.Ombudsman makes maladministration finding against landlord that took eight years to solve roof leak
Lucie Heath Inside Housing (Paywall)From the United Kingdom ... The Housing Ombudsman has made two findings of severe maladministration against Shepherds Bush Housing Group (SBHG) after the landlord took eight years to identify the cause of a leak in a resident’s roof. In a report published today, the Housing Ombudsman said it took SBHG an “unreasonable” amount of time to diagnose the problem, while the landlord also came under fire for its complaint-handling process.
https://www.insidehousing.co.uk/news/news/ombudsman-makes-maladm…
# International, Public and community housing, Repairs.The Sydney neighbourhoods leading the property market downturn as interest rates rise
Kate Burke Domain (No paywall)The upper end of Sydney’s property market is leading the downturn in home values, new figures show, as rapidly rising interest rates put downward pressure on prices. Pockets of the inner west, Northern Beaches, eastern suburbs and inner city recorded the largest decline in values over the past three months ...
https://www.smh.com.au/property/news/the-sydney-neighbourhoods-l…
# NSW, Housing market, Sydney.‘Serious financial stress’: Typical mortgage bills tipped to jump $792 by year’s end
Matthew Elmas The New Daily (No paywall)Home owners are being warned to brace for their third interest rate hike in as many months on Tuesday as the Reserve Bank tries to clamp down on rapidly rising prices.
https://thenewdaily.com.au/finance/finance-news/2022/07/04/mortg…
# Australia, Home ownership, Housing market.