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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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See notes about the Digest and a list of other contributors here. Many thanks to those contributors for sharing links with us.
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Archive
RBA rate rises tipped to slow bank mortgage growth
Clancy Yeates The Sydney Morning Herald (Paywall)Growth in the major banks’ profitable mortgage portfolios is forecast to slow, as steep interest-rate rises hit the housing market, amid reports from mortgage brokers that new home lending has already softened. As markets prepare for an expected 0.5 percentage point rise in official interest rates on Tuesday, comments from mortgage brokers AFG and Lendi suggest the number of new loan applications lodged with the big banks has cooled, following falls in major capital city house prices and property sales.
https://www.smh.com.au/business/banking-and-finance/rba-rate-ris…
# Australia, Housing market.Proposed tenancy laws could lead to landlord exodus
(No paywall)Proposed changes to Western Australia's tenancy laws to allow renters to have pets and make minor changes to houses could see an exodus of landlords from the state's rental market. (MSN) ... says the REI
https://www.msn.com/en-au/news/australia/proposed-tenancy-laws-c…
# Australia, Rent, Landlords and agents, Pets, State Government.The tenants’ climate jury: what happened next?
Martin Hilditch Inside Housing (Paywall)From the United Kingdom ... Almost a year ago, a group of tenants published a wide-ranging set of recommendations about how social landlords should approach climate change in existing homes, following a ground-breaking inquiry. Martin Hilditch meets the tenants who took part to find out if they are happy with the progress made.
https://www.insidehousing.co.uk/insight/the-tenants-climate-jury…
# International, Public and community housing, Climate change.‘Building too close to the water. It’s ridiculous!’ Talk of buyouts after floods shows need to get serious about climate adaptation
Tayanah O'Donnell The Conversation (No paywall)Australians are reeling from climate change impacts including more frequent and severe disasters – floods, droughts, searing heat and fires. These complex disasters are fuelling calls for managed retreats and debates about buying out at-risk properties. Buyouts involve governments paying compensation or compulsorily acquiring land to manage a retreat from high-risk areas. Moving people and assets permanently out of harm’s way is considered a final step in a long line of options for climate adaptation. ... Some parts of New South Wales have been flooded four times in 18 months. Retreat and relocation from properties in high-risk areas must now be central to climate adaptation. My research provides lessons for Australia from around the world in how to manage this difficult task.
https://theconversation.com/building-too-close-to-the-water-its-…
# Australia, Climate change, International, Planning and development.ACT's proposed ban on 'no-cause evictions', solicitation of rental bids opens for public consultation
Charlotte Gore ABC (No paywall)'No-cause evictions' and bidding on rental properties could soon be banned in the ACT, with the government opening up a draft bill on rental reforms for public consultation.
https://www.abc.net.au/news/2022-07-27/act-rental-bill-propose-r…
# Australia, Rent, Landlords and agents, Minimum habitability standards, No-grounds evictions.A new squeeze looms for home buyers despite property price falls
Melissa Heagney and Kate Burke Domain (No paywall)The rising cost of living is making it harder for potential home buyers to save a deposit and reducing how much some can borrow to spend on their next property. Banks are starting to look more closely at potential borrowers’ expenses when they apply for a home loan, mortgage brokers say, and more scrutiny is likely on the way. ... The cost of petrol, energy bills, groceries and rent has jumped this year amid pressures ranging from Russia’s war on Ukraine, which disrupted global oil and gas supply, to a cold winter that increased demand for heating, and floods on Australia’s east coast that affected vegetable crops. Supply chain disruptions due to the COVID-19 pandemic have also hit, along with increased rental demand from students and workers as the economy picked up after lockdown.
https://www.smh.com.au/property/news/a-new-squeeze-looms-for-hom…
# Australia, Rent, Home ownership, Housing market.‘So disheartening’: Photo highlights Sydney’s rental crisis
Chantelle Francis (No paywall)A photo has emerged online of people crowding outside a Sydney apartment building for a rental inspection, highlighting the huge demand for a limited supply of properties available to rent in the city. At least 20 people can be seen crowding around an agent outside the doors to the World Tower in the photo posted on Reddit. (news.com.au)
https://www.news.com.au/finance/real-estate/renting/so-dishearte…
# Video NSW, Rent, Housing market.Rental arrears surge in NSW as landlords hike rent at triple the rate
Kate McIntyre (No paywall)The number of tenants falling behind on their rent has surged by almost 50 per cent, as the real estate industry is smashed by cost of living increases across the board. Tenants are falling behind with rental payments as the cost of living soars. Data released from a document signing tool used by property managers shows the number of rental arrears notices issued since January this year surged 45 per cent across NSW as landlords hiked rents at more than triple the previous rate. (news.com.au)
https://www.news.com.au/finance/real-estate/sydney-nsw/rental-ar…
# Video NSW, Rent, Homelessness, Housing market, Landlords and agents.