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
Evergrande frees funds with HengTen sale amid ‘highly likely’ default
Avatar Clare Jim and Donny Kwok The New Daily (No paywall)Troubled Chinese property developer Evergrande is selling its entire stake in streaming services firm HengTen for $HK2.13 billion ($376 million), as the cash-strapped firm boosts efforts to avoid a debilitating default on its debts. However, S&P Global Ratings said in a report on Thursday a default is still “highly likely” for the world’s most indebted developer – despite its recent bond coupon payments – because it has a bigger test in March and April next year, facing a total of $US3.5 billion ($4.8 billion) maturities in dollar bonds.
https://thenewdaily.com.au/finance/2021/11/19/evergrande-hengten…
# International, Housing market, Landlords and agents.The investor’s dilemma: Should you rent out your holiday home for the short or long term?
Sue Williams Domain (No paywall)It’s the common dilemma for many investing in property in any one of the strongly performing holiday markets around Australia. Should it be kept as a holiday home, with short-term holiday lets when the family doesn’t want it, or should it be put into the long-term residential rental pool?
https://www.domain.com.au/news/the-investors-dilemma-should-you-…
# Australia, Rent, Landlords and agents, Short-term holiday letting.ANZ tips house price slowdown as fixed rates rise
Clancy Yeates The Sydney Morning Herald (Paywall)At 4:09pm ... ANZ Bank is predicting the red-hot property market will slow down next year before prices start falling in 2023, saying higher interest rates will be a key influence on house prices.
https://www.smh.com.au/business/markets/asx-to-slip-on-wall-st-w…
# Australia, Housing market.This is what $1 million will get you in Hobart's hot property market
Tamara Glumac and Ros Lehman ABC (No paywall)While many inside and outside Hobart's property market are viewing with disbelief "gobsmacking" house prices, a new report is shedding light on another reason home ownership is out of reach for many in the island state. The Core Logic report shows Tasmania has had the biggest gap between wage increases and house price growth in Australia in the past 20 years.
https://www.abc.net.au/news/2021-11-20/wages-gap-in-hobart-hot-p…
# Australia, Housing market.Major building group Privium collapses with future of its projects unclear
Nibir Khan ABC (No paywall)The collapse of Brisbane-based Privium construction company has left hundreds of homes unbuilt across Australia and one family's first home dreams in limbo in Toowoomba on Queensland's Darling Downs.
https://www.abc.net.au/news/2021-11-18/qld-privium-company-colla…
# Australia, Housing market.‘We are essentially full’: Councillors unite to oppose luxury housing for seniors
Andrew Taylor The Sydney Morning Herald (Paywall)A plan to build “prestige boutique scale” housing for the elderly has provoked a backlash from residents and local Liberal and Labor politicians in one of Sydney’s wealthiest suburbs, amid claims young residents are being forced out of the area.
https://www.smh.com.au/national/we-are-essentially-full-councill…
# NSW, Housing affordability, Housing market, Local Government, Older people, Planning and development, Young people.Hong Kong proposes 10,000 public housing units to be built on Fanling Golf Course
(No paywall)Hong Kong’s development chief on Friday revealed a drastically-revised plan that would see up to 10,000 public housing flats to be built on part of the Hong Kong Golf Club in Fanling, more than double the number previously proposed. (The Standard)
https://www.thestandard.com.hk/breaking-news/section/4/183180/Ho…
# International, Public and community housing.Introductory Remarks to Parliamentary Inquiry hearing: Housing affordability and Supply in Australia, 17 November 2021
Bill Randolph and Hal Pawson City Futures (No paywall)... Adequate housing supply is a key component of a healthy housing market. But we would argue that the causes of housing unaffordability are complex and call for consideration of both housing supply and housing demand and the underlying drivers on both sides of the market. Boosting home ownership is a key objective that we fully support. But, as argued in our recent report, ‘Housing – Taming the Elephant in the Economy’, Australia’s home ownership system has transformed from its historic function of spreading wealth into a modern day system that concentrates wealth and drives growing inequality. Over-preferencing existing home owners and investors has increasingly excluded young adults from access. ... The Australian Government could play an important role in supporting such diversity. Not only by reforming key tax settings, but also through influencing urban development. [You will find a link to the submission by City Futures in the third paragraph of this article.]
https://blogs.unsw.edu.au/cityfutures/blog/2021/11/introductory-…
# Must read Australia, Rent, Home ownership, Housing affordability, Housing market, Tax.