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
Pain coming for home owners as RBA mulls string of rate rises
Shane Wright and Rachel Clun The Sydney Morning Herald (Paywall)Home buyers fearful of a small interest rate rise next week face much more pain as the Reserve Bank poises for consecutive increases in the official cash rate amid signs businesses are preparing to push prices even higher.
https://www.smh.com.au/politics/federal/pain-coming-for-home-own…
# Australia, Housing affordability, Housing market.Education First Youth Foyer chapter takes its housing and education model to the rest of Australia
Katherine Smyrk and Matt Dowling ABC (No paywall)By the time Sara Scott-Hitchcock was 17 she had spent time under child protection, moving in and out of residential homes, foster and kinship cares, and then she had nowhere to live. ... Not able to live with her father anymore, she became homeless. ... When she got the chance to move into Shepparton's Education First Youth Foyer, everything changed.
https://www.abc.net.au/news/2022-04-28/shepparton-youth-take-hou…
# Australia, Homelessness.Buyers warned about rushing into government’s First Home Guarantee scheme
Tamsin Rose The Guardian (No paywall)First-home buyers have been warned to plan carefully before taking advantage of a federal government scheme that would allow them to secure property with a 5% deposit, at a time interest rates are predicted to rise. Experts say the First Home Guarantee scheme could be appropriate for people who plan to stay in one spot for a while and are comfortable riding out a possible property value trough, but warn it could still be risky, especially in regional areas.
https://www.theguardian.com/australia-news/2022/apr/29/buyers-wa…
# Australia, Federal Government, Home ownership, Housing market.Interest rates are set to start rising. What does that mean for mortgage holders and homebuyers?
Peter Hannam The Guardian (No paywall)The prospect of the Reserve Bank of Australia raising the cash rate in May has prompted a spike in queries about fixed loans from borrowers and reinforced expectations that property prices will fall, including in Melbourne and Sydney where they may already have peaked. Traders have priced in a lift in the RBA’s cash rate to 0.25% at its 3 May meeting after Wednesday’s March quarter inflation data was much higher than forecast.
https://www.theguardian.com/business/2022/apr/29/interest-rates-…
# Australia, Housing affordability, Housing market.How Ten Global Cities Take on Homelessness: Initiatives that work
Linda Gibb, Jay Bainbridge, Muzzy Rosenblatt and Tamiru Mammo (Paywall)Together they bring an array of government, nonprofit, and academic perspectives to offer a truly global view of the cities and individuals working in coordination to tackle homelessness ... Published by University of California. Press Plug on 'London Review of Books', Volume 43 Number 12, 17 June 2021, p24 at: [https://www.lrb.co.uk/]
https://www.ucpress.edu/book/9780520344679/how-ten-global-cities…
# International, Homelessness.Barkindji woman tackles Broken Hill housing supply problem with plan to build 500 eco-friendly homes
Callum Marshall ABC (No paywall)A Barkindji woman is hoping to improve housing supply concerns in Broken Hill with a project that could result in about 500 eco-friendly homes being built in the city. Nara Nation's Narelle Osborne, who is working with the development company Cliq Build, said they were also hoping to make some of the material for the houses in Broken Hill, creating more jobs.
https://www.abc.net.au/news/2022-04-29/broken-hill-eco-friendly-…
# NSW, Climate change, Housing market, Regional NSW, Work, employment.Banks are tipping the worst property price falls on record. But don’t panic
Matthew Elmas The New Daily (No paywall)Home owners are being urged not to panic about rising mortgage rates, despite predictions that Reserve Bank efforts to tame inflation will spark the biggest downturn in the property market on record.
https://thenewdaily.com.au/finance/property/2022/04/28/property-…
# Australia, Home ownership, Housing affordability, Housing market.Property prices may tumble 15 per cent after rate increases
John Collett The Sydney Morning Herald (Paywall)If the Reserve Bank lifts official interest rates for the first time in more than a decade on Tuesday, as is widely expected, property prices will almost certainly take a hit, particularly if it is the start of a sustained period of higher mortgage interest rates.
https://www.smh.com.au/money/investing/property-prices-may-tumbl…
# Australia, Housing market.