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
The Sydney suburbs where property values are already falling
Kate Burke Domain (No paywall)Property values in sought-after inner Sydney suburbs and Northern Beaches neighbourhoods are falling, new figures show, and the previously booming markets are now leading a pull back in prices that is rippling across the city.
https://www.smh.com.au/property/news/the-sydney-suburbs-where-pr…
# NSW, Housing market.Don’t let the PM or the Home Guarantee Scheme persuade you to buy too soon
Nicole Pedersen-McKinnon The Sydney Morning Herald (Paywall)Asked what renters should do to about the enormous increases in housing costs, Prime Minister Scott Morrison had this advice last week: ‘Buy’. Right. Next problem. ... But let’s take a deep dive into what the Coalition believes will help first-home buyers, and some others, onto the property ladder: the Home Guarantee Scheme.
https://www.smh.com.au/money/investing/don-t-let-the-pm-or-the-h…
# Australia, Federal Government, Home ownership, Housing market.Homes England and HSBC announce funding package for 1,000 new homes
Grainne Cuffe Inside Housing (Paywall)A Homes England funding package will enable 1,000 new family homes to be built across Dorset, Hampshire and Somerset over the next five years. ... Around 30% of the new homes will be affordable. Also, read the same news story at: [https://www.gov.uk/government/news/1000-new-homes-to-be-built-through-funding-partnership-with-hsbc]
https://www.insidehousing.co.uk/news/news/homes-england-and-hsbc…
# International, Affordable housing, Housing market.Home owners brace for mortgage repayment spike
Sezen Bakan The New Daily (No paywall)Home owners could see their mortgage repayments rise by hundreds of dollars every month by February, according to analysis by RateCity. The analysis shows the average borrower with a $500,000 variable-rate loan and 25 years left on their mortgage could see their repayments rise by $303 per month if the RBA hikes the cash rate to 1.25 per cent by February.
https://thenewdaily.com.au/finance/property/2022/04/06/home-owne…
# Australia, Home ownership, Housing market.The 6 million question: What will happen to Qld housing as population booms?
Cloe Read The Sydney Morning Herald (Paywall)South-east Queensland could expand into other regions as an influx of NSW and Victoria residents pushes the state population to 6 million as early as 2027. The population prediction by Queensland Treasury would force people out of the housing market and demand for housing would only grow, the Real Estate Institute of Queensland fears.
https://www.smh.com.au/national/queensland/the-6-million-questio…
# Australia, Housing market, Planning and development.‘Daddy, is our home still broken?’: Mascot Towers owners in plea for help
Megan Gorrey The Sydney Morning Herald (Paywall)In March, following pressure from Labor and apartment owners, [Fair Trading Minister Eleni] Petinos said she would extend the rental subsidies one “final time” until June 30 to allow residents to find alternative accommodation. Labor leader Chris Minns said former better regulation minister Kevin Anderson had vowed that the government would provide the owners with rental support for the duration of any legal action they pursued over the matter. He said there was still legal action on foot relating to the damaged building and, despite the change in minister, the Perrottet government needed to stand by its initial commitment to continue providing assistance.
https://www.smh.com.au/national/nsw/daddy-is-our-home-still-brok…
# NSW, Strata, Housing market, Minimum habitability standards, State Government.Statement on Russia’s invasion of Ukraine
International Union of Tenants (No paywall)The International Union of Tenants condemn Russia’s invasion of Ukraine and demand that all Russian forces leave Ukraine immediately. The attack on Ukraine is a flagrant violation of international law and of Ukraine’s territorial integrity as a sovereign and democratic state. ... As a tenant organisation we are part of the broader civil society, and we know that only a peaceful and democratic society can fully live up to the human rights, including the right to housing and the right to organise. All these values are acutely threatened by the Russian military aggression against Ukraine.
https://www.iut.nu/news-events/iut-statement-on-russias-invasion…
# International, Human rights.Dream on, Australia: budget exposes fantasy of our ‘home-owning democracy’
Nicole Gurran, Emma Baker and Peter Phibbs The Sydney Morning Herald (Paywall)For a government professing concern about home ownership, new supply and affordability, the measures in this week’s budget fell flat – benefitting few, largely ignoring renters, and extending underperforming existing policy. ... Australia’s roughly 8 million renters have largely been left in the cold. Our 500,000 very low-income renters will remain in rental stress, and our public housing waiting lists will remain essentially unchanged. While about 1.2 million negatively geared landlords continue to claim rental losses, pleas to increase the Commonwealth Rental Assistance subsidy (currently about $4.7 billion a year) have been ignored. There’s no real additional commitment to social housing, aside from a $2 billion extension to the affordable housing bond aggregator, extending the amount available for non-profit providers to borrow via the National Housing Finance and Investment Corporation. This will support an estimated 10,000 new social housing units, against a current waiting list of about 160,000 households.
https://www.smh.com.au/national/dream-on-australia-budget-expose…
# Australia, Public and community housing, Rent, Affordable housing, Home ownership, Housing market, Landlords and agents, Welfare.