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
Australia has 13 million spare bedrooms. Is there a better use for them?
Tawar Razaghi Domain (No paywall)Australia has 13 million spare bedrooms new data shows, and that number is set to grow thanks to an ageing population holding on to “empty nests” with little incentive to downsize. The number of spare bedrooms increased from 12.7 million in the 2017-18 financial year to 13 million in the 2019-20 financial year, according to the Survey of Income and Housing released by the Australian Bureau of Statistics. ... The combination of the family home exemption from the aged pension asset test, stamp duty and planning restrictions are preventing empty nesters from downsizing, doing little to help alleviate housing affordability and free up homes for growing families.
https://www.smh.com.au/property/news/australia-has-13-million-sp…
# Australia, Families, Home ownership, Housing affordability, Housing market, Planning and development, Tax, Welfare.Mortgage interest rates are on the rise. How do you know whether to take a fixed or variable loan?
David Taylor ABC (No paywall)I really dislike making a decision when the information needed to make it is incomplete: there is a solid chance you’ll get it wrong. Right now, we all know interest rates are rising. It means mortgage borrowers will need to pay more, in some cases hundreds of extra dollars a month, to service their home loan. But there’s a twist. The amount of money you’ll be stumping up depends on whether you have a fixed or variable rate loan, or a combination of the two. You need to decide the best option and that will likely be the most affordable one for you. So, which is it?
https://www.abc.net.au/news/2022-06-14/mortgage-interest-rate-lo…
# Australia, Housing affordability, Housing market.Sydney and Melbourne have ‘absolutely turned into buyer’s markets’
Tawar Razaghi Domain (No paywall)Sydney and Melbourne have turned into buyer’s markets as vendors take longer to sell their homes and with bigger discounts, new data shows.
https://www.smh.com.au/property/news/sydney-and-melbourne-have-a…
# Australia, Housing market.Pandemic trend here to stay as regional house price growth outstrips Melbourne, Sydney
Rachel Clun Domain (No paywall)The exodus from Sydney and Melbourne driven by the pandemic and work-from-home edicts is here to stay, driving regional house price growth beyond capital cities as the combined value of Australian homes exceeded $10 trillion in the first three months of the year.
https://www.smh.com.au/property/news/regional-house-price-growth…
# Australia, Coronavirus COVID-19, Housing market, Regional NSW.Former Hurstville councillor accepted $170K to help Chinese developer get projects approved, ICAC hears
Nabil Al-Nashar ABC (No paywall)A former Sydney councillor has told the anti-corruption watchdog he accepted bribes of $170,000 from a Chinese developer in exchange for his support of two major development proposals. Also, read two articles on the same matter by Megan Gorrey in 'The Sydney Morning Herald' at: [https://www.smh.com.au/national/nsw/councillors-accepted-bags-of-cash-from-property-developer-icac-told-20220614-p5atgq.html] and [https://www.smh.com.au/national/nsw/ex-councillor-angry-170k-developer-bribes-might-be-revealed-icac-20220615-p5attm.html]
https://www.abc.net.au/news/2022-06-14/icac-inquiry-into-former-…
# NSW, Housing market, Local Government, Planning and development.Inner west residents fear towers will dwarf White Bay Power Station
Megan Gorrey The Sydney Morning Herald (Paywall)Plans to build towers as tall as 22 storeys near the White Bay Power Station have triggered concerns that views towards the heritage-listed site in Sydney’s inner west will be blocked by offices and apartments. The NSW government is restoring the heritage-listed power station at Rozelle as it forges ahead with plans to redevelop the “Bays West”, in the most significant reshaping of a harbour-front site in Sydney since Barangaroo.
https://www.smh.com.au/national/nsw/inner-west-residents-fear-to…
# NSW, Heritage listings, Housing market, State Government.NSW to phase out stamp duty, introduce property tax
Alexandra Smith The Sydney Morning Herald (Paywall)NSW Premier Dominic Perrottet’s long-held goal to radically overhaul stamp duty and introduce a broad-based land tax will be one of the major reforms in the government’s final pre-election budget. The Herald can confirm Perrottet will embark on the significant reform, which will mean some home buyers will be able to opt in to an annual land tax rather than an upfront stamp duty payment.
https://www.smh.com.au/politics/nsw/nsw-to-phase-out-stamp-duty-…
# NSW, Housing market, State Government, Tax.Albanese wants more affordable homes – Australia’s $18 billion community housing sector is ready to help
Andrew Sadauskas The Fifth Estate (No paywall)With affordable housing set to be a key priority for the new Albanese government, a new report has shed new light on the $18 billion community housing sector, and the vital role it plays in Australia’s social housing infrastructure. You can read the report by CHIA at: [https://www.communityhousing.com.au/wp-content/uploads/2022/05/CHIA-Data-Digest-April-2022.pdf]
https://thefifthestate.com.au/business/public-community/albanese…
# Australia, Public and community housing, Affordable housing, Federal Government.