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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
Aussie housing crisis inflamed by ’world’s most generous tax breaks’
Sophie Foster realestate.com.au (No paywall)A move by federal politicians has inflamed Australia’s housing crisis, cutting out millions from owning a home. ‘The world’s most generous tax breaks’ handed to property investors by federal politicians is helping cut millions from owning a home, industry warns. A new report warns that the wealthiest Australians now hold 90 times the wealth of those with the least – fed by “the most generous tax breaks in the world” for housing investments including capital gains tax discounts and negative gearing.
https://www.realestate.com.au/news/australias-federal-pollies-re…
# Hot topic Australia, .The bush capital is densifying, but finding an affordable place to call home in Canberra is far from a guarantee
Patrick Bell ABC (No paywall)Aaron Chia hit a major life milestone last year, when he became a homeowner. The 29-year-old bought a one-bedroom apartment in the inner Canberra suburb of Braddon. He is one of many Canberrans opting for higher density living, as development has accelerated in recent years. "I was just looking for a place that was quite central to the city, because I don't really like to commute very much," he said. "I quite like having a low maintenance area to live in, and it feels a bit more secure to me having a bit more of a communal feel to it."
https://www.abc.net.au/news/2024-08-26/canberra-housing-cost-pop…
# Hot topic Australia, .Esperance rental prices soar by 45pc amid 'alarming' housing shortage
Hayden Smith and Jacqueline Lynch ABC (No paywall)Scrolling through rental property listings has become a tedious and stressful task for Zilla Miller. The beauty therapist and her husband Garth have grown to love Esperance, a "fabulous" community on Western Australia's south coast, since they relocated from Kalgoorlie about four years ago. But circumstances are such that they need to find a new rental home — and pickings are slim. "Everything on the market at the moment is well and truly above what our income is," Ms Miller said. In the space of just three months, the town's median rental price soared by about 45 per cent to $550 per week.
https://www.abc.net.au/news/2024-08-28/esperance-rental-market-s…
# Must read Australia, Rent, Starting a tenancy.Australia housing prices, rents surge as supply shortage deepens
Shaun Turton and Ririka Imahashi Nikkei Asia (No paywall)Like most seeking a place to rent in Sydney, Tanakit Phaopin is used to large queues. With vacancy rates hovering currently around 1.7% in Australia's largest city, and 1.3% nationally, rental inspections often draw dozens of aspiring tenants, whose entrances are staggered to manage the volume. "Every one lines up and they let four people in at a time," the university student and part-time swimming instructor said at a recent inspection in Sydney's Inner West, which was more subdued due to his visit being on a weekday. "It's so stressful, there's lots of competition."
https://asia.nikkei.com/Spotlight/Market-Spotlight/Australia-hou…
# Hot topic Australia, Rent.Cockroach infestation was so bad renters were kept awake by the sound of the insects scuttling
By Stuff 9 News (No paywall)Aotearoa, New Zealand: Tenants who lived with a cockroach infestation so severe the insects' scuttling kept them awake at night have been awarded $12,000. The cockroaches were also blamed for the failure of two dishwashers at the property, but were not the only issue at the $1300 a week rental, the Tenancy Tribunal heard. According to a recently released tribunal decision, the six tenants were also without a working stove for months before being asked to pay for a replacement, and were threatened with eviction if they did not pay more than $700 to replace a toilet they were blamed for breaking.
https://www.9news.com.au/national/new-zealand-compensation-award…
# Must read International, Rent, Tribunal NCAT.Social housing rents to rise as part of UK push to build affordable homes
Jack Simpson The Guardian (No paywall)Social housing rents will rise by more than inflation over the next decade as part of UK government plans to boost affordable housebuilding and shore up the finances of struggling landlords. The chancellor, Rachel Reeves, is working on plans to introduce a 10-year formula to calculate social rent on homes that will result in rents increasing every year by the rate of the consumer prices index – which is now 2.2% – plus 1%, removing an existing cap on rises. Reeves is expected to announce the plan at her first budget, on 30 October, alongside measures to raise taxes and cut spending.
https://www.theguardian.com/society/article/2024/aug/21/social-h…
# Hot topic International, Public and community housing.Singapore introduces measures to cool the public housing market
Lee Ying Shan CNBC (No paywall)Singapore has tightened the maximum loan that home buyers can take out in a bid to cool the country’s public housing resale market. From Tuesday, buyers of HDB flats won’t be allowed to borrow as much as before. The loan-to-value limit for Housing Development Board loans will be lowered from 80% to 75%, according to a press release released by the government late on Monday. HDB is the city-state’s public housing authority.
https://www.cnbc.com/2024/08/20/singapore-introduces-cooling-mea…
# Hot topic International, Public and community housing.'Being evicted absolutely destroyed me as a mother'
Joshua Askew BBC (No paywall)A single mother who was forced out her home of 16 years has called on the government to improve renters' rights. After she was served a no-fault eviction notice, Keziah Hall and her teenage daughter were refused hundreds of rentals in Brighton and eventually placed in emergency accommodation by the council, which they described as unsafe and unsuitable. Ms Hall said the experience "absolutely destroyed me as a mother" and "made me feel like I was failing my daughter".
# Must read International, Eviction, Rent.