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
'He is a landlord from hell': Renters say they're at their wits' end
9 News (No paywall)Two Newcastle renters say they're at their wits' end after their landlord decided to move onto the property they lease. "He is a landlord from hell," 55-year-old disability pensioner Marie Lorenzo said about her landlord, Keith. Lorenzo moved into the home with her 38-year-old son, Matthew Kozela, 12 months ago and although it's rented through real estate agency Leah Jay, it didn't take long for their landlord Keith to visit and fence part of the property off. "We moved in on the Thursday he was around on the Saturday and he said 'maybe in the future there might be a granny flat', nothing was definite, nothing's approved," Lorenzo told A Current Affair. But Lorenzo said she was gobsmacked by what happened next.
https://amp.nine.com.au/article/eba168ee-469b-43c5-93e8-d11c35d2…
# NSW, Privacy and access, Granny flats, studios, Landlords and agents.September interest rate announcement: RBA lifts cash rate by 50 basis points to 2.35 per cent
Sue Williams Domain (No paywall)Interest rates are set to jump by a further 50 basis points in the Reserve Bank of Australia’s (RBA) fifth consecutive monthly rise, despite dramatic drops in house prices and sales volumes in some areas. The cash rate will now sit at 2.35 per cent, it was announced at Tuesday’s September board meeting, the highest level since December 2014 and the baseline for the significantly higher rates most people are paying. RBA governor Philip Lowe flagged this this month’s rate rise would likely not be the last. ... Onlookers say the “fear of missing out” – or FOMO – has now vanished, and in its place are other fears: of taking out a big mortgage that is hard to pay back at a higher interest rate, and of paying too much in a falling price market.
https://www.domain.com.au/money-markets/september-interest-rate-…
# Australia, Housing market.Serehnonn bought her first home but didn’t expect mortgage to go up six months later
Tawar Razaghi and Melissa Heagney Domain (No paywall)Serehnonn and Dominic Lowe bought their first home during the property boom last year to lock in some certainty after six years of renting in Sydney and in the hopes of starting a family. That was upended when the Lowes’ mortgage repayments went up less than six months after taking out a home loan with a rate they expected to hold steady after Reserve Bank governor Philip Lowe said he did not expect rates to rise before 2024. Since they bought in December, the cash rate has gone up five months in a row, including another increase of 50 basis points on Tuesday to 2.35 per cent. These rises have left many first home owners who bought at rock-bottom interest rates and sky-high prices facing higher repayments years earlier than expected.
https://www.smh.com.au/property/news/serehnonn-bought-her-first-…
# Australia, Home ownership, Housing affordability, Housing market.Mind the gap: Pensioners struggle with higher rents
Rachel Lane The Sydney Morning Herald (Paywall)The rise in rents is squeezing many pensioners, who are already battling cost-of-living pressures fuelled by rising inflation, together with delayed increases in their fortnightly pension payments in the form of rental assistance. Commonwealth Rent Assistance rates are updated on March 20 and September 20 each year in line with increases in the Consumer Price Index. ... It’s time to review Commonwealth Rent Assistance and the rate at which it is indexed to ensure pensioners are not being forced to choose between meeting their cost of living and having somewhere to live.
https://www.smh.com.au/money/planning-and-budgeting/mind-the-gap…
# Australia, Rent, Federal Government, Housing affordability, Older people.Blocked by ‘inaction’: NSW building commissioner explains reason for resignation
Lucy Cormack The Sydney Morning Herald (Paywall)The state’s building commissioner said he felt no choice but to resign before then-fair trading minister Eleni Petinos was sacked, insisting he could not deliver under a minister who was not invested in legislation. David Chandler, who reversed his resignation last month, said he could not reconcile his job description while feeling blocked by “inaction” in the minister’s office on important reform.
https://www.smh.com.au/politics/nsw/concerns-about-minister-s-of…
# NSW, Housing market, Minimum habitability standards, State Government.Residential green spaces protect growing cities against climate change
Michael Drescher, Dawn Parker and Rebecca Rooney The Conversation (No paywall)Canada is a highly urbanized country, with more than 80 per cent of residents living in urban centres. The urban population is growing by more than 400,000 annually, and these new urban residents need housing. With affordable housing in decline, there are loud calls to massively increase the number of homes being built. Unfortunately, conventional residential development destroys large amounts of green space. The average greenness of urban areas across Canada declined five percentage points between 2001 and 2019, and even more in larger cities. The loss of urban green space leads to increases in urban heat and flooding, which are amplified by climate change, and can threaten human health and well-being, and property. They also degrade natural ecosystems and the biodiversity they support. Perversely, poorly planned cities themselves contribute to climate change. As Canadian cities move to tackle the housing shortage, they should take care not to worsen climate change and its impacts.
https://theconversation.com/residential-green-spaces-protect-gro…
# International, Climate change, Housing market, Planning and development.NZ sees ram raids increase, more people living in cars as cost-of-living pressures mount
Emily Clark and Luke Bowden ABC (No paywall)New Zealand has the highest homelessness rate per capita in the OECD and a decades-long housing crisis that puts a secure place to live out of reach for many low-income Kiwis. Homelessness is an issue around the world but, in New Zealand, it is highly political, especially since Prime Minister Jacinda Ardern pledged to tackle the crisis.
https://www.abc.net.au/news/2022-09-08/new-zealand-ram-raids-hom…
# International, Families, Homelessness, Housing market.Mascot Towers owner left $1.2m in debt
Belinda Palmada (No paywall)An apartment owner of Sydney’s faulty high-rise buildings has told how he is struggling with a tremendous debt and has not yet received assistance from the NSW government. ... A dad’s dream of owning a home has turned into a never-ending nightmare as he struggles with an ever-growing debt. Anthony Najafian, 42, has a combined mortgage of $1.2 million, with about $500,000 of that owing on an uninhabitable, damaged home. The father of three purchased his first home, a one-bedroom apartment in the doomed Mascot Towers building in Sydney’s inner south in 2010. Five years later, he purchased a second property to live in and rented out the Mascot flat. In June 2019, Mr Najafian’s world was rocked when residents including his tenants were suddenly evicted after cracks were discovered in the property. (news.com.au)
https://www.news.com.au/finance/money/investing/mascot-towers-ow…
# NSW, Strata, Housing market, Minimum habitability standards.