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
House hunters face rising fixed mortgage rates, with further hikes expected
Kate Burke Domain (No paywall)House hunters stretching themselves to get into the property market are being warned borrowing costs could rise sooner than expected, with some mortgage rates already increasing and further hikes expected later this year.
https://www.domain.com.au/news/house-hunters-facing-rising-fixed…
# Australia, Home ownership, Housing market.Rates for four merged Sydney council areas to rise as regulator approves increases
Megan Gorrey The Sydney Morning Herald (Paywall)Four merged councils across Sydney will charge hundreds of thousands of ratepayers extra rate payments from July, despite widespread opposition from residents, following a decision by the pricing regulator on Monday.
https://www.smh.com.au/national/nsw/rates-for-four-merged-sydney…
# NSW, Housing market, Local Government, State Government, Tax.Families rush to sign off on new homes before ‘savage’ stamp duty hikes
Elizabeth Redman and Roy Ward The Sydney Morning Herald (Paywall)From Victoria ... With two small children, Sean and Jenny Huang are hoping to move closer to family and will take their home at 15 Valentine Grove, Armadale to auction next Saturday with a price guide of $2 million to $2.2 million. The government’s decision to lift stamp duty will put pressure on them to buy their next place before the tax hike comes into force. ... Their agent, Kay & Burton’s Darren Lewenberg, said he understood the need for budget repair but it seemed real estate was seen as “low-hanging fruit”.
https://www.smh.com.au/politics/victoria/families-rush-to-sign-o…
# Australia, Home ownership, Housing market, Landlords and agents, State Government, Tax.Property industry warns consumers will be slugged following property tax hikes
Sumeyya Ilanbey The Sydney Morning Herald (Paywall)The property industry has warned consumers will bear the brunt of higher prices passed on by businesses hit by the Victorian government’s new suite of tax increases. Acting Premier James Merlino on Sunday defended the proposal, which includes increases in land tax, stamp duty, taxes on developer windfalls to be included in Thursday’s state budget, as an appropriate and responsible measure.
https://www.smh.com.au/politics/victoria/acting-premier-defends-…
# Australia, Housing market, Landlords and agents, State Government, Tax.Albanese’s $10bn pledge pushes housing needs back into the limelight
Hal Pawson The Conversation (No paywall)Opposition Leader Anthony Albanese’s budget reply speech last night highlighted Australia’s huge unnmet need for social and affordable housing. It’s once again shaping up as a major election issue. Labor is proposing a A$10 billion program to build 30,000 social and affordable homes over five years. The immediate backdrop for the pledge is a post-COVID house price boom, and a continuing dearth of Commonwealth investment in new non-market housing. That is, rentals affordable to low-income Australians and provided by government agencies or non-profit community housing organisations. Amid the many new spending plans revealed in Tuesday’s budget, Treasurer Josh Frydenberg maintained the government’s resistance to an ever-wider coalition of voices calling for social housing stimulus.
https://theconversation.com/albaneses-10bn-pledge-pushes-housing…
# Must read Australia, Public and community housing, Rent, Affordable housing, Federal Government, Home ownership, Homelessness, Housing market.Soaring housing costs are pushing retirees into areas where disaster risks are high
Lois Towart The Conversation (No paywall)The impacts of a closed border and recent floods have highlighted the challenges facing older Australians who live permanently in caravan parks and manufactured home estates. These properties have long provided affordable housing for retirees, particularly those who rely on the age pension and have limited assets or housing equity. Residents typically own their caravan or mobile home and pay a regular site rental. Two trends are emerging as problems for these residents ... [Read on]
https://theconversation.com/soaring-housing-costs-are-pushing-re…
# Research alert NSW, Land lease communities, Climate change, Older people, Short-term holiday letting.A lesson for investors: Real change involves the loss of power
Wendy Williams Pro bono Australia (No paywall)Anand Giridharadas poses a challenge to responsible investors to think about their power and what they’re really doing to achieve systemic change. There is no win-win when it comes to social change, says best-selling author Anand Giridharadas. The former McKinsey consultant-turned New York Times columnist, was speaking at RI Australia 2021, in a session addressing the question of how investors can use their power to address structural inequality. ... It comes back to the idea of power. Who has it, and whether they are really willing to give it up, without a fight.
https://probonoaustralia.com.au/news/2021/05/a-lesson-for-invest…
# Must read Australia, Federal Government, Housing market, Landlords and agents, State Government.Labor leader Anthony Albanese promises 20,000 social housing properties in budget reply speech
Jade Macmillan ABC (No paywall)Tens of thousands of social and affordable housing properties would be built as part of a $10 billion housing future fund promised by the federal opposition. Labor leader Anthony Albanese used his budget reply speech to pledge a Housing Australia Future Fund to deliver 20,000 social housing properties in its first five years. Four thousand of the homes would be allocated to women and children who are escaping family and domestic violence and to older women who are at risk of homelessness.
https://www.abc.net.au/news/2021-05-13/anthony-albanese-labor-bu…
# Australia, Domestic violence, Public and community housing, Homelessness, Older people, Women.