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
One of P.E.I.’s biggest landlords has abandoned efforts to hike rents for hundreds. So why aren’t tenants celebrating?
Stu Neatby Saltwire (CA) (No paywall)CHARLOTTETOWN, P.E.I. — Vincent Brazil took his landlord, one of the biggest property-owning companies in the country, before the province’s rental office and won.
His landlord, the Canadian Apartment Properties REIT (CAPREIT), recently dropped its application before the Island Regulatory and Appeals Commission (IRAC) to raise his rent, along with 55 other tenants at his apartment building on River Ridge Drive in Charlottetown, by 12 per cent.
Brazil, who works in IT support for a federal department, says his financial situation is likely more secure than many of his neighbours, many of whom are retirees. But he said CAPREIT’s increases would have hurt.
https://www.saltwire.com/atlantic-canada/news/one-of-peis-bigges…
# Hot topic International, Rent, Housing affordability, International.National Rent Report July 2023: Average Rent in Calgary Crosses $2000; Alberta Leads Rent Growth
Staff To Do Canada (CA) (No paywall)Average rents in Canada have reached a record high, with the average monthly rent hitting $2,042 in June, surpassing the previous record set in November by 0.9 percent, according to the Rentals.ca and Urbanation National Rent Report.
Over the past two years, average rents for all property types in Canada have increased by 20 percent or $341 per month.
The report says average rents saw a 1.4 percent increase from May to June, the largest month-over-month rise this year, and annual average rents increased by 7.5 percent.
https://www.todocanada.ca/national-rent-report-july-2023-average…
# Hot topic International, Rent, Housing affordability, International.Just two London postcodes remain with average room rents below £750 per month
Greg Pitcher Evening Standard (No paywall)The average cost of renting a room has risen above £750 per month in all but two London postcodes, data has revealed.
Figures shared exclusively with Homes & Property by houseshare portal SpareRoom showed that the price of being a tenant has risen disproportionately in many of the capital's traditionally more affordable neighbourhoods.
While there were six postcode districts with average rents below £750pcm in the first three months of this year — plus another three areas under £752pcm — just two met either criteria in the second quarter.
https://www.standard.co.uk/homesandproperty/property-news/two-lo…
# Hot topic International, Rent, Housing affordability, International.Mortgage-to-rent reboot promised after months of limbo
Joe Brennan Irish Times (No paywall)The Housing Agency is set to unveil a reboot of the mortgage-to-rent scheme following months of heightened uncertainty over the future of the programme, which had left distressed borrowers, lenders and players in the sector in limbo.
Officials from the Department of Housing have informed lenders and organisations involved in a previous pilot mortgage-to-rent scheme that the agency will this week launch a call for expressions of interest from private and approved housing body sector entities interested in becoming mortgage-to-rent providers, capable of delivering “at scale”.
Interested parties will have about two weeks to respond to the call, according to the notification seen by The Irish Times. Those that meet minimum eligibility requirements will be given a further five weeks to submit necessary documents.
https://www.irishtimes.com/business/2023/07/10/mortgage-to-rent-…
# Hot topic International, Rent, Housing affordability, International.Signs rental crisis is easing as vacancy rates nudge upwards in Australia’s major cities
Peter Hannam and Tamsin Rose The Guardian (No paywall)Australia’s rental crisis is showing modest signs of easing, with vacancy rates in the major cities improving slightly, but from levels that remain about half of pre-Covid levels, according to data group PropTrack.
Rental vacancy rates nationally increased 0.02 percentage points to 1.45% last month, while those in capital cities edged 0.03 percentage points higher to 1.42%. Both were just shy of half the rates in March 2020.
On a quarterly basis, the vacancy rate in Sydney improved 0.28 percentage points to 1.73%, the largest improvement among the major cities. For Melbourne, the rate increased 0.16 percentage points to 1.4%, while Brisbane’s was little changed at 1.12% and even fell slightly compared with May.
https://www.theguardian.com/australia-news/2023/jul/11/signs-ren…
# Hot topic, TUNSW in the media, Research alert Australia, Housing affordability, Housing market, Planning and development.Turning the housing crisis around: how a circular economy can give us affordable, sustainable homes
Ralph Horne and Julie Lawson The Conversation (No paywall)Households across Australia are struggling with soaring energy and housing costs and a lack of housing options. Mixed with a climate crisis, economic volatility and social inequality, it’s a potent set of policy problems. Australia needs a circuit-breaker – a bold national project to tackle the climate crisis and support households by shifting to a more sustainable housing industry.
This is a project based on circular economy principles. The emphasis is on reducing materials and resources, optimising building lifespan, designing for reuse and zero waste, and regenerating nature. By getting the most out of finite resources, we can minimise waste and shrink our carbon footprint.
Our research for the Australian Housing and Urban Research Institute (AHURI) applies these principles to housing. We developed a comprehensive strategy for the sector’s transition to a circular economy. It gives priority to local jobs, access to affordable housing, resilient and functional design, and carbon-neutral, energy-efficient operation.
https://theconversation.com/turning-the-housing-crisis-around-ho…
# Hot topic, Research alert Australia, Housing affordability, Housing market, Planning and development.The tiny Aussie seaside town where the cost of renting has gone up by 250 per cent in five years
Maria Gil Domain (No paywall)On South Australia’s Fleurieu Peninsula rests the picturesque coastal town of Port Elliot. Just 84 kilometres south of Adelaide, it offers beauty, history and a relaxed atmosphere.
But over the past five years, the cost of renting in Port Elliot has skyrocketed. The median asking rent price for a house has risen by 250 per cent to $1050 a week, according to the latest Domain Rent Report.
By way of contrast, Sydney’s Vaucluse – the most expensive suburb in which to rent in Australia – has seen rents increase 55.6 per cent over the past five years.
https://www.domain.com.au/news/the-cost-of-renting-has-gone-up-b…
# Hot topic Australia, Rent, Housing affordability, Housing market.Queensland rental market hardest hit by rental price hikes
Rowan Crosby The Property Tribune (No paywall)The rental crisis continues to bite down hard on tenants around Australia, with Suburbtrend’s latest Rental Pain Index showing all states, except for the territories, saw average rent, as a percentage of income, above 30% – a figure that typically indicates rental stress.
The hardest hit states were Queensland (QLD), South Australia (SA) and New South Wales (NSW).
Kent Lardner, founder of Suburbtrends said QLD not only leads the pack in terms of rental pain but also boasts the largest average 12-month rental increase at 16.33%.
https://thepropertytribune.com.au/market-insights/queensland-ren…
# Hot topic Australia, Rent, Housing affordability, Housing market.