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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
NSW, Victorian property markets take $200 billion hit as rates rise
Shane Wright The Sydney Morning Herald (Paywall)The NSW and Victorian property markets took a $200 billion hit as the Reserve Bank unleashed the first increases in official interest rates in more than a decade, while evidence is growing that tighter monetary policy and high inflation are forcing shoppers to slice spending on non-essentials. Australian Bureau of Statistics data confirmed the nation’s two largest property markets have borne the brunt of the drop in property values, with the average price of residential dwellings in NSW losing more than $500 a day through the three months to the end of June.
https://www.smh.com.au/politics/federal/early-signs-rate-rises-a…
# Australia, Housing market.The rental crisis worsens, with vacancy rates falling below 1 per cent
Emily Stewart ABC (No paywall)Pensioner Gordon Balfour Haynes lived in the Northern Rivers region of New South Wales for most of his 73 years. But several months ago he packed up his life and moved 900 kilometres across the country in search of an affordable rental. The move was prompted by his landlord of five years increasing the rent by $100 a week, to $450, which would account for about 90 per cent of his pension. He couldn't afford to stay in the property and when he looked in the area for alternatives, there were none. "Absolutely nothing. The cheapest I could find was about $500 a week and that was for a dog kennel," Mr Haynes said.
https://www.abc.net.au/news/2022-09-14/pensioner-moves-900-kilom…
# NSW, Rent, Housing affordability, Housing market, Older people, Regional NSW.Hobart housing crisis sees rents more than double for some tenants as vacancy rate sits below 1pc
Adam Holmes ABC (No paywall)Tim Seidenspinner had lived in a room at a former backpackers hostel in Hobart for two years when he received an email out of the blue, accompanied by a sudden knock at the door from a real estate agent. His rent would be more than doubling from $150 per week to $330. And he was not the only one. ... A tenants' advocate said it was a symptom of Tasmania's tight rental market, where vacancy rates in the state's three major centres – Hobart, Burnie and Launceston – range from 0.2 to 1 per cent.
https://www.abc.net.au/news/2022-09-15/hobart-housing-crisis-see…
# Australia, Rent, Homelessness, Housing affordability, Housing market.As businesses buy up rural properties, private renters struggle to find somewhere to live
Andrew Chounding ABC (No paywall)Australia is in the middle of a housing shortage, which is seeing more employers purchase accommodation to attract workers, but the move is making it harder for private renters to find a home.In the mining town of Kalgoorlie-Boulder, a resources boom has seen people flock to the region for work. However, the number of houses being built has not kept pace with the rise in workers, which has seen the vacancy rate in the town fall below 1 per cent. David Holtom and his partner work in the mining sector and plan to relocate to the Goldfields in October, but finding a house to rent ahead of their arrival has proven a challenge. ... Compounding the issue is the quality of houses in the region, with Mr Holtom saying some of the properties on offer are not at a liveable standard. "I think the biggest thing at the moment is the quality of rentals that are available," he said. "They sent us through some pictures of a house in Boulder and I can honestly say I wouldn't even rent it out for my dog, let alone human habitat."
https://www.abc.net.au/news/2022-09-13/kalgoorlie-boulder-rural-…
# Australia, Rent, Housing market, Minimum habitability standards, Work, employment.How a 3D printer could build your next home
Melissa Heagney Domain (No paywall)A giant 3D printer has built a pool cabana on the outskirts of Melbourne in a rare feat that could pave the way for 3D-printed houses in the future. The printing technology used a special type of concrete to construct the building as part of the reality renovation TV show The Block. It was among the first 3D-printed builds in Australia.
https://www.smh.com.au/property/news/how-a-3d-printer-could-buil…
# Australia, Housing market.House prices are falling. Confidence is edging up. Is it a good time to buy?
Tawar Razaghi Domain (No paywall)Home buyers have a stronger chance of getting into the property market this spring than during the pandemic-era boom, but experts are mixed about whether even better buying opportunities lie ahead. While some economists say the benefit of property price falls has been largely cancelled out by the rising cost of home loans and it will take time for affordability to improve, other industry figures say potential buyers have more homes to choose from and less competition now.
https://www.smh.com.au/property/news/house-prices-are-falling-co…
# Australia, Home ownership, Housing affordability, Housing market.Seller beware: A property’s flood risk may need to be declared under Qld reforms
Sean Parnell The Sydney Morning Herald (Paywall)The Queensland government is consulting on a last-minute rethink of mandatory disclosure statements for property sales and whether to include information on flood risk. Only days after wrapping up consultation on a proposed statutory seller disclosure scheme, the government has contacted stakeholders to ask whether flood information should be proactively provided to buyers.
https://www.smh.com.au/politics/queensland/seller-beware-a-prope…
# Australia, Housing market, State Government.‘My choices are limited’: over-50s turn to flatsharing in cost of living crisis
Rachel Hall The Guardian (No paywall)From the United Kingdom ... Some choose to share for social reasons as stigma fades but many are priced out of living alone. ... Marie, 53, shares a flat with her friend and their family. It’s noisy and cramped and she is desperate to move into her own place but she can’t. Rents are high in East Sussex, where she lives, and the property market is highly competitive, with estate agents prioritising dual-income families. “I’m looking all the time, I have to move,” she said. “It’s not conducive to my mental health or wellbeing here.”
https://www.theguardian.com/money/2022/sep/09/over-50s-turn-to-f…
# International, Rent, Share houses.