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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
‘True emergency’: Housing affordability crisis at breaking point after decade of policy inaction
Matthew Elmas The New Daily (No paywall)Australia’s housing affordability crisis has reached “fever pitch” as interest rate hikes push rents to fresh highs and force huge numbers of pensioners and low-income workers into unaffordable properties. A report into the housing market by Anglicare Australia on Thursday found the number of affordable rentals for minimum-wage workers has halved in the past decade to just 15 per cent, while only 1.4 per cent of available houses are still affordable for aged pensioners. You will find Anglicare's report at: [https://thenewdaily.com.au/wp-content/uploads/2022/07/1657087167-EMBARGOED-Homes-for-All.pdf]
https://thenewdaily.com.au/finance/finance-news/2022/07/07/housi…
# Research alert Australia, Rent, Housing affordability, Housing market.Without meaningful national housing strategies, first-home buyer schemes will only increase owners’ wealth
Hal Pawson and Chris Martin The Guardian (No paywall)More than $20bn was given by Australian governments in tax breaks and cash grants to first-home buyers in the decade to 2021. While assisting access to home ownership is an electorally popular policy, these schemes are widely criticised by economists and public policy experts as inequitable and ultimately counter-productive, with each new boost in assistance driving prices further beyond reach for those who miss out. You will find a link to this AHURI Report entitled: 'Assisting first homebuyers: an international policy review' at: [https://www.ahuri.edu.au/research/final-reports/381]
https://www.theguardian.com/commentisfree/2022/jul/07/without-me…
# Research alert Australia, Federal Government, Home ownership, Housing market, International, State Government.To stop risky developments in floodplains, we have to tackle the profit motive – and our false sense of security
Brian Robert Cook and Tim Werner The Conversation (No paywall)In the aftermath of destructive floods, we often seek out someone to blame. Common targets are the “negligent local council”, the “greedy developer”, “the builder cutting corners”, and the “foolish home owner.” Unfortunately, it’s not that simple, as Sydney’s huge floods make clear. In flood risk management, there’s a well-known idea called the “levee effect.” Floodplain expert Gilbert White popularised it in 1945 by demonstrating how building flood control measures in the Mississippi catchment contributed to increased flood damage. People felt more secure knowing a levee was nearby, and developers built further into the flood plains. When levees broke or were overtopped, much more development was exposed and the damages were magnified. “Dealing with floods in all their capricious and violent aspects is a problem in part of adjusting human occupance,” White wrote. The levee effect shows why it’s so hard to reduce flood risk, even in areas hit hardest by this year’s record-breaking floods. The NSW town of Lismore had a 10 metre levee, experience dealing with many floods, and a flood risk management plan. It was devastated regardless.
https://theconversation.com/to-stop-risky-developments-in-floodp…
# NSW, Climate change, Housing market, Planning and development.More than 100 MPs earn a ‘significant’ income from renting out properties, research finds
Lucie Heath Inside Housing (Paywall)From the United Kingdom ... At least 17% of MPs own properties that generate a “significant” rental income, new research from an anti-corruption organisation has found. It comes as MPs prepare to scrutinise the Renters’ Reform Bill, the aim of which is to improve the rights of private tenants. ... An analysis of parliamentarians’ parliamentary interests, published today by Transparency International UK, has identified 113 (17%) MPs holding 261 properties between them which generate a significant income, defined by parliamentary rules as £10,000 or more annually. Using “conservative estimates”, researchers calculated that these MPs received a collective rental income of £2.6m per year, although they said this number could be much higher. Meanwhile, almost 40% of parliamentarians (212 MPs and 321 Lords) were found to have a registered interest in property, registering 1,325 property interests in the UK, including at least 820 physical residential and commercial assets. Transparency International UK defines property interest as a direct or indirect interest in property, which could include owning land assets, or working for or owning a property-related company. You may read the report entitled 'Parliamentary Estates' by Transparency International UK at: [https://www.transparency.org.uk/sites/default/files/pdf/publications/Parliamentary%20Estates%20-%20Transparency%20International%20UK.pdf]
https://www.insidehousing.co.uk/news/news/more-than-100-mps-earn…
# International, Federal Government, Housing market, Landlords and agents, State Government.Australia is woefully unprepared for this climate reality of consecutive disasters
Greg Mullins The Guardian (No paywall)We lost a critical decade of preparation under the Coalition. As floods hit NSW again, we cannot afford to lose a minute more. Almost unbelievably, communities in New South Wales are once again having to flee the fourth major flooding event in the state in just 18 months. It’s a bitter pill to swallow, but there’s no avoiding it: this is our new climate reality of consecutive, compounding disasters. ... With a new government at the helm, there is hope. Even before the furniture was moved into his new ministerial office, Chris Bowen’s first meeting as federal climate change minister was with myself, two other members of Emergency Leaders for Climate Action, along with the new emergency management minister, Murray Watt. We presented our six-point plan to help prepare for disasters in Australia.
https://www.theguardian.com/commentisfree/2022/jul/05/australia-…
# Australia, Climate change, Federal Government, Housing market, Planning and development.‘Very much a landlords’ market’: Renters face tough conditions with vacancy rate at record low
Tawar Razaghi Domain (No paywall)Renters face tough conditions as they have fewer homes to choose from at the same time rents hit record highs. ... Tenants’ Union of NSW chief executive Leo Patterson Ross said the vacancy rate would need to increase substantially to provide any choice and stable rents for tenants. “Rents are still rising very quickly and that’s not surprising because the vacancy rate staying around 1.5 per cent really doesn’t change a lot, or how easy it is to find a rental ... We know we get to a tenants’ market when they have a lot of choice and the properties are well maintained, and they ask you about your intentions, offering long-term leases. That seems a long way away.” Also, read Khaled Al Khawaldeh's article entitled: 'Rents rise at fastest rate in 14 years across Australia' in 'The Guardian' at: [https://www.theguardian.com/australia-news/2022/jul/06/rents-rise-at-fastest-rate-in-14-years-across-australia] Read Sezen Bakan's article entitled: 'Shrinking households help drive up national rents at record pace' in 'The New Daily' at: [https://thenewdaily.com.au/finance/property/2022/07/06/rents-market-record-high/]
https://www.smh.com.au/property/news/very-much-a-landlords-marke…
# TUNSW in the media Australia, Rent, Families, Housing market.Housing is the 'missing piece' in flood recovery, as thousands continue living in tents and mouldy homes
Ella Archibald-Binge ABC (No paywall)On a chilly winter's morning in northern New South Wales, Terri Leahy is helping her eight-year-old son Maxx get ready for school. ... Four months after floodwaters destroyed their rental home in Coraki, 30 minutes south of Lismore, they are living in a tent in their backyard. Maxx sits inches from a small portable heater, warming his bare hands and feet, while Terri grabs milk for his cereal from a caravan fridge she found on the side of the road. "It's hard not to cry… because it's not ideal," Ms Leahy says. ... In the absence of stable housing, displaced residents are couch surfing and living in tents or cars, while some have returned to uninhabitable, mould-infested homes, lining their stripped-out walls with discarded election corflutes in a bid to keep warm. (ABC 7.30)
https://www.abc.net.au/news/2022-07-06/flood-victims-living-in-t…
# NSW, Rent, Homelessness, Mould, Regional NSW.Australia spent $20bn on first-home buyer support over a decade – and pushed up prices, report says
Peter Hannan The Guardian (No paywall)Australian governments have poured more than $20bn into supporting first-home buyers in the past decade, the cornerstone of “one-sided” housing policies that set the country apart from more balanced policies abroad, a new study has found. The paper, published on Thursday by the Australian Housing and Urban Research Institute, compared Australia’s policies with those in six European nations and Singapore. The researchers found local schemes have failed to arrest a slide in overall home ownership and benefitted those already in the market, worsening social equity. “We’re now in the situation where there really is quite a gap,” Chris Martin, a senior research fellow in UNSW’s City Futures Research Centre, and one of the report’s authors. “Home ownership has become this widening wedge of inequality.”
https://www.theguardian.com/australia-news/2022/jul/07/australia…
# Research alert Australia, Federal Government, Home ownership, Housing market, International, State Government.