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
Want to solve the housing crisis? Address super-charged demand
Steve Pomeroy The Conversation (No paywall)A recent news item about New Zealand’s radical new housing law and whether such measures could work in Canada implies that soaring home prices are due to a lack of supply. In its election platform, the Liberal party proposed to invest $4 billion in a municipal supply accelerator aimed at building more housing. This is the wrong approach. If policy-makers and the newly re-elected government want to improve housing affordability and the ability of young families to become homeowners, they need to turn their attention to the primary driver of price increases — super-charged demand, abetted by the sacred cow of non-taxation of capital gains on a principal residence.
https://theconversation.com/want-to-solve-the-housing-crisis-add…
# International, Home ownership, Housing market, Landlords and agents, Tax.Take the slow train to Clarkefield and I’ll meet you at the community battery
Jan Fisher The Fifth Estate (No paywall)Clarkefield is in the Macedon Ranges – just under an hour away from the city of Melbourne, and even less by train – and it’s fast becoming the little town that could in its vision to create a new style of living. Under a proposed housing development, Clarkefield will become a model mixed use, walkable village and its proponents are working towards the town meeting the Department of Planning’s 20-minute neighbourhood concept of giving people the ability to meet most of their daily needs within a 20-minute return walk from home. But it’s not just about the commute, the developers also aim to make any new housing as green as possible. To this end, the town has secured a grant from the Victorian government under its Neighbourhood Battery Initiative for work on a community battery for future Clarkefield housing.
https://thefifthestate.com.au/innovation/residential-2/take-the-…
# Australia, Utilities electricity water gas, Climate change, Planning and development.Why Perth renters are feeling the crunch compared to those in the east
Holly Thompson The Sydney Morning Herald (Paywall)Western Australia has been the envy of many over the past two years, recently listed as the sixth-most livable city in the world due to the largely “pre-pandemic” lifestyle enjoyed across the state. But for those who don’t own their own homes, particularly across lower income brackets, this idealistic lifestyle could feel out of reach as Perth’s rental affordability eclipses major cities on the east coast. The latest Rental Affordability Index, released on Wednesday, has revealed that in Perth, once the cheapest Australian capital city to rent in, rising rental prices and stagnant wages have made it less affordable than both Sydney and Melbourne.
https://www.smh.com.au/national/western-australia/affordability-…
# Australia, Rent, Housing affordability, Housing market.Communities 'rooted in this soil' face a managed retreat from climate change and rising waters
ABC (No paywall)From the United States ... Stephen F Eisenman, director of strategy for environmental group Anthropocene Alliance, said this was a "huge issue". "By my reckoning, there will be 30 million people who are displaced by mid-century, and there will be mass migrations in the United States," he said. The biggest question is whether the retreats are planned and methodical or unplanned and chaotic.
https://www.abc.net.au/news/2021-11-26/us-communities-face-a-man…
# International, Climate change, Planning and development.Is Sydney still affordable in 2021? ‘Only if you have a lot of money’
Josh Dye The Sydney Morning Herald (Paywall)Affordability and cost of living concerns have long dogged Sydney, and the dizzying rise of house prices hasn't helped. The nation's most recent internal migration data showed record numbers of people leaving capital cities for the regions, including almost 40,000 people exiting Sydney in the 12 months to March. ... [Committee for Sydney chief executive Gabriel] Metcalf says it's worth making "pretty big changes" to fix Sydney's issues, starting with abolishing tax incentives that make real estate a haven for investors. "The declining rate of homeownership in Australia is the smoking gun that proves the current settings are not working," he said.
https://www.smh.com.au/national/nsw/is-sydney-still-affordable-i…
# NSW, Home ownership, Housing affordability, Housing market, Landlords and agents.A decade to save – steep hurdles for first-home buyers
Prashant Mehra The New Daily (No paywall)First-home buyers in Australia now need more than 10 years just to save a 20 per cent deposit to own a home, a report says, underlining the worsening housing affordability crisis across the country. The latest ANZ CoreLogic Housing Affordability report estimates that based on households saving 15 per cent of their gross annual income, it would take a record 10.8 years to save a deposit for a house and nine years for a unit.
https://thenewdaily.com.au/finance/property/2021/11/26/first-hom…
# Australia, Home ownership, Housing affordability, Housing market.House prices depend on interest rates: as one goes up, the other will fall
Michael Janda ABC (No paywall)It's very likely house prices, at least in Australia's two biggest cities, will fall at some point over the next couple of years. That's the view of three of the four major banks, whose businesses are skewed heavily to residential mortgages — so they have an incentive to get this right, if not perhaps to understate the prospect of declines. ANZ is tipping a modest 4 per cent national dip in 2023, Westpac 5 per cent and CBA is the most bearish, predicting a 10 per cent slide. It's also the forecast of many more independent economists and real estate experts.
https://www.abc.net.au/news/2021-11-28/house-prices-depend-on-in…
# Australia, Housing market.Rental prices in Port Fairy increase amid concerns for at-risk people post pandemic
Daniel Miles and Steve Martin ABC (No paywall)Business is booming across regional Victoria as the state emerges from its second lockdown, and so it seems are rental prices. According to the latest rental market information from property data company PropTrack, the median rental price across regional Victoria has gone up as much as 10 per cent in the last 12 months. The weekly price for a rental property in the Bendigo region has jumped by 11.43 per cent, the largest jump in Victoria, while prices in the Hume and North West regions jumped by more than 8 per cent respectively. During the same time, the average rent dropped by 3.33 per cent in Melbourne's Inner-East and stayed relatively stable in Melbourne's CBD.
https://www.abc.net.au/news/2021-11-27/port-fairy-rental-crisis-…
# Australia, Public and community housing, Rent, Homelessness, Housing market.