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
‘Buy a house’: is Scott Morrison living in the same country as the rest of us?
Benjamin Clark Crikey (No paywall)The prime minister's comments, and his government's lack of rental legislation, show a disconnect with the Australian public. ... But Morrison’s comments, and his government’s lack of rental relief policies, illustrate a specific prejudice shared by many federal politicians: they look down upon renters. They routinely treat renting as a brief waystation on the road to home ownership, instead of a long-term way of life for millions of Aussies that ought to be improved. This is despite an increasing proportion (more than a third) of Australians renting their homes, for longer periods, due to skyrocketing house prices.
https://www.crikey.com.au/2022/04/01/renters-go-buy-a-house-scot…
# Australia, Rent, Federal Government, Housing affordability, Housing market.One tenant’s view on the Social Housing Regulation Bill
Steve Southwell Inside Housing (Paywall)From the United Kingdom ... One of the key factors mentioned in the bill is that of empowerment and of holding landlords to account, and the strengthening of consumer standards to ensure that the challenges are met. We will have the support of the regulator and it, along side the Housing Ombudsman, will play a vital role in the support provided to residents when things don’t quite go to plan.
https://www.insidehousing.co.uk/comment/comment/one-tenants-view…
# International, Public and community housing.Reserve bank rate hike will hit recent home buyers, hospitality industry
Rachel Clun The Sydney Morning Herald (Paywall)Higher interest rates are a certainty for Australian homeowners but economists say most will be able to weather the rise ... Grattan Institute economist Brendan Coates said people who bought recently will be hit hardest by interest rate rises.
https://www.smh.com.au/politics/federal/reserve-bank-rate-hike-w…
# Australia, Home ownership, Housing market.The RBA’s decade without a rate rise is coming to an end – but the market’s expectations are absurd
Greg Jericho The Guardian (No paywall)A 3% cash rate, let alone one next year, would likely destroy the economy and the housing market. On Tuesday, when the board of the Reserve Bank kept the cash rate at 0.1%, it marked the 137th month without a rate rise. And yet the markets still anticipate a rise in the coming months, but soaring house prices mean it is very unlikely that rates will rise as high as the market currently expects.
https://www.theguardian.com/business/grogonomics/2022/apr/06/the…
# Australia, Home ownership, Housing market.Why are property prices falling sooner than expected?
Tawar Razaghi Domain (No paywall)Property prices were expected to fall, but not quite this soon. Conventional wisdom said a rise in official interest rates would be the trigger for housing prices to fall, because it would reduce the amount of money that buyers can borrow to spend at auction. So what changed?
https://www.smh.com.au/property/news/why-are-property-prices-fal…
# Australia, Housing market.The Sydney suburbs where property values are already falling
Kate Burke Domain (No paywall)Property values in sought-after inner Sydney suburbs and Northern Beaches neighbourhoods are falling, new figures show, and the previously booming markets are now leading a pull back in prices that is rippling across the city.
https://www.smh.com.au/property/news/the-sydney-suburbs-where-pr…
# NSW, Housing market.Don’t let the PM or the Home Guarantee Scheme persuade you to buy too soon
Nicole Pedersen-McKinnon The Sydney Morning Herald (Paywall)Asked what renters should do to about the enormous increases in housing costs, Prime Minister Scott Morrison had this advice last week: ‘Buy’. Right. Next problem. ... But let’s take a deep dive into what the Coalition believes will help first-home buyers, and some others, onto the property ladder: the Home Guarantee Scheme.
https://www.smh.com.au/money/investing/don-t-let-the-pm-or-the-h…
# Australia, Federal Government, Home ownership, Housing market.Homes England and HSBC announce funding package for 1,000 new homes
Grainne Cuffe Inside Housing (Paywall)A Homes England funding package will enable 1,000 new family homes to be built across Dorset, Hampshire and Somerset over the next five years. ... Around 30% of the new homes will be affordable. Also, read the same news story at: [https://www.gov.uk/government/news/1000-new-homes-to-be-built-through-funding-partnership-with-hsbc]
https://www.insidehousing.co.uk/news/news/homes-england-and-hsbc…
# International, Affordable housing, Housing market.