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
Don’t get over-exuberant: RBA issues warning on property prices
Shane Wright and Jennifer Duke The Sydney Morning Herald (Paywall)The nationwide surge in house prices and expectations of even higher prices could lead to “over-exuberance” in the property market, the Reserve Bank has warned while signalling more restrictions on lending are on the way. ... The RBA report suggests there are other options for APRA to take, including restrictions on debt-servicing costs relative to a household’s income, loan-to-income restrictions and tougher loan-to-valuation standards.
https://www.smh.com.au/politics/federal/don-t-get-over-exuberant…
# Australia, Housing market.Housing stock gains $1 trillion in value even as businesses shed staff
Shane Wright The Sydney Morning Herald (Paywall)Australia’s residential housing stock has gained $1 trillion in value in just five months, even as the number of people in work falls back to pre-coronavirus levels with lockdowns in NSW and Victoria dragging down the national jobs market.
https://www.smh.com.au/politics/federal/housing-stock-gains-1-tr…
# Australia, Housing market.‘Gold Coast of the west’: Scarborough residents fighting high rises on five fronts
Hamish Hastie The Sydney Morning Herald (Paywall)Despite the efforts of anti-high rise groups, Scarborough could become the Gold Coast of the west by the middle of the decade with six towers above 18-storeys either approved or earmarked for the famous stretch of Perth coastline. The developments include a tri-tower proposal that would feature 16, 22 and 46-storey towers; a 24-storey apartment block; a dual 12 and 29-storey complex and a dual 17 and 19-storey development.
https://www.smh.com.au/national/western-australia/gold-coast-of-…
# Australia, Housing market, Planning and development.Lenders battle for market share amid record refinancings
John Collett The Sydney Morning Herald (Paywall)While lockdowns in our two biggest cities saw the value of new home lending decline in August, the total amount of refinancings to new lenders surged 3.1 per cent. ... The biggest factors driving the refinancings are the two cuts in official interest rates by the Reserve Bank of Australia (RBA) last year, the second of which, in November, took the cash rate to a record low of 0.1 per cent.
https://www.smh.com.au/money/borrowing/lenders-battle-for-market…
# Australia, Housing market.Pandora Papers reveal big foreign money secretly behind some prime Australian real estate
Echo Hui, Patrick Begley and Elise Worthington ABC (No paywall)Australian properties — including Tasmanian dairy farms, Sydney CBD apartments and even a Hilton Hotel — have been secretly purchased by wealthy, sometimes controversial foreign figures, an ABC investigation has discovered. The money came from a corrupt Chinese steel magnate, a political power couple in Sri Lanka and a former oil executive via opaque corporate structures. Each purchase involved multiple layers of offshore trusts and shell companies, making ownership almost impossible to track. Unlike other countries, Australia lacks a register to show who ultimately owns property. Watch on YouTube. (Four Corners)
https://www.abc.net.au/news/2021-10-05/pandora-papers-four-corne…
# Research alert, Video Australia, Housing market, International, Landlords and agents.House prices in popular school catchments in NSW regional towns explode by up to $367,000 in 12 months
Sue Williams Domain (No paywall)Parents in regional NSW, particularly the tree-change and sea-change newcomers, have been so keen to send their kids to good schools, they’re paying $367,500 more than a year ago to snare homes in some catchment areas.
https://www.domain.com.au/news/house-prices-in-popular-school-ca…
# NSW, Home ownership, Housing market, Regional NSW.Top 10 areas in Australia to avoid buying an apartment revealed
Sezen Bakan The New Daily (No paywall)The top 10 areas to avoid buying an apartment in Australia have been revealed, with inner-city suburbs taking out the top spots. ... BuyersBuyers CEO Doron Peleg said investing in city apartments has long been a “substantial risk”, particularly when buying off the plan. The pandemic has only heightened the risks, as closed international borders and an exodus of people moving to regional areas has eroded demand for inner-city pads.
https://thenewdaily.com.au/finance/2021/10/07/buying-apartment-a…
# Australia, Strata, Housing market, Landlords and agents.EVICTION RESISTANCE TOMORROW ...
(No paywall)Our member Najib and his wife are at risk of eviction tomorrow, and we need everyone to come down to prevent them ending up on the streets tomorrow night. Let's show landlords, yet again, that we will stand up for renters in London and make sure everyone has a safe home! (London Renters Union)
https://mailchi.mp/londonrentersunion/urgent-eviction-resistance…
# International, Eviction, Campaigns and law reform, Coronavirus COVID-19.