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
Developer promises $11m for potential defects in Castle Hill towers
Matt O'Sullivan The Sydney Morning Herald (Paywall)The developer of one of Sydney’s largest apartment developments at Castle Hill, which had signs of cracking in a basement, will provide $11 million in security to fix any future defects and has agreed to guarantee its structural integrity for the next two decades.
https://www.smh.com.au/national/nsw/developer-promises-11m-for-p…
# NSW, Housing market, Minimum habitability standards.Canberra Low Carbon Housing Challenge to demonstrate how sustainable and passive house designs can create a zero emissions city
Kate Christian ABC (No paywall)A group of architects have launched a competition to demonstrate how Canberra's residential boom can be leveraged to help the city meet its ambitious carbon neutral deadline.
https://www.abc.net.au/news/2021-07-29/surge-in-sustainable-and-…
# Australia, Utilities electricity water gas, Climate change, Housing market, Minimum habitability standards.Inner-city Sydney losing its shine for home-buyers
Sue Williams Domain (No paywall)Inner-city Sydney is losing its shine for home-buyers, with the premium people are prepared to pay to live close to the city falling steadily over the past century – and forecast to fall even more steeply in the next three to five years. New research conducted by the University of Technology Sydney found that Sydneysiders were now less prepared to pay extra to live closer to the CBD than at any other time in recent history.
https://www.domain.com.au/news/inner-city-sydney-is-losing-its-s…
# Research alert NSW, Home ownership, Housing market.Anthony Albanese doubles his money on Marrickville house thanks to $2.35m buyer
Lucy Macken Domain (No paywall)Labor leader Anthony Albanese enjoyed his own uptick in news from the housing market on Tuesday less than 24 hours after the party officially dumped its negative gearing policy when he and former NSW deputy premier Carmel Tebbutt sold their Marrickville investment property for $2.35 million.
https://www.domain.com.au/news/anthony-albanese-doubles-his-mone…
# NSW, Rent, Landlords and agents, Tax.Sydney, Melbourne home prices tipped to rise more than 20 per cent
Jennifer Duke The Sydney Morning Herald (Paywall)One of the nation’s biggest banks is tipping Sydney and Melbourne property prices to rise more than 20 per cent by the end of next year while warning first-time buyers are reaching their financial limits.
https://www.smh.com.au/politics/federal/sydney-melbourne-home-pr…
# Australia, Home ownership, Housing affordability, Housing market.Feel like your friends are leaving you behind? You're not the only one
Meg Watson ABC (No paywall)The pandemic has been hitting young Australians hard, but for some people it's felt like a beating. ... There are always weird divides between friends in their late 20s and early 30s: couples vs singles, renters vs buyers, people who can afford the nice restaurant vs those who can't. But, with the pandemic tangibly increasing economic inequality, many people feel these divides are wider than ever.
https://www.abc.net.au/everyday/feel-like-your-friends-are-leavi…
# Australia, Health, Housing market, Young people.Mind the gap: Cheaper apartment rents are letting buyers into the market sooner
Melissa Heagney Domain (No paywall)A record gap between the cost of renting a unit and a house is “opening a window” for first-home buyers looking to get into the property market, experts say. Nationally, the gap between house and apartment rents is now $50 per week, new analysis from Domain shows, with the median weekly rent for a house sitting at $477, while unit rent costs $427. Ten years ago, that gap was only $5. Domain chief of research and economics Nicola Powell said this record gap meant people renting units were able to save more now than ever, thanks to the cheaper costs, which allowed them to buy into the market sooner.
https://www.domain.com.au/news/mind-the-gap-cheaper-apartment-re…
# Australia, Rent, Strata, Home ownership, Housing market.NSW renters fear inspections virus risk
Hannah Ryan Canberra Times (No paywall)David lives in locked-down Sydney, which means he and his family are not allowed to leave the house without a reasonable excuse. But on Saturday a series of strangers will come through his inner west home to see if they want to buy it. His rental property, where he's halfway through a 14-month lease, is for sale. ... "There's this real disconnect between the public health messaging and the experience of many renters," Tenants' Union chief executive Leo Patterson Ross said. While open houses and auctions are banned, real estate agents can show potential buyers a property in a private appointment if they have a COVID-safety plan. But Mr Patterson Ross says, agents are scheduling a number of appointments back-to-back.
https://www.canberratimes.com.au/story/7352853/nsw-renters-fear-…
# Hot topic, TUNSW in the media NSW, Privacy and access, Rent, Coronavirus COVID-19, Housing market, Landlords and agents, State Government.