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 cut off the city’s nose to spite its face’: Warnings over CBD apartment proposal
Matt O'Sullivan and Megan Gorrey The Sydney Morning Herald (Paywall)Converting too many empty offices in Sydney’s CBD into apartments during the COVID-19 pandemic raises the risk of a lack of space for workers in coming years, because of the extreme difficulty changing strata units back to their original use, NSW Planning Minister Rob Stokes warns.
https://www.smh.com.au/national/nsw/don-t-cut-off-the-city-s-nos…
# NSW, Strata, Affordable housing, Housing market, Planning and development, State Government.Push for affordable housing in empty offices but landlords say workers are returning
Alexandra Smith and Carolyn Cummins The Sydney Morning Herald (Paywall)NSW Treasurer Dominic Perrottet is being urged to transform Sydney’s empty office space into affordable housing for key workers such as police and paramedics in his push to revitalise the CBD.
https://www.smh.com.au/politics/nsw/push-for-affordable-housing-…
# NSW, Strata, Affordable housing, Housing market, State Government.Federal Budget 2021: What’s on the property wish list?
Elizabeth Redman Domain (No paywall)A big social housing build, a boost to rent assistance and more work on energy efficiency are high on the budget wish lists of housing experts. But they’re not optimistic: recent federal budgets have taken a somewhat piecemeal approach to tackling the housing affordability crisis. ... Sydney University urban planner Professor Nicole Gurran is blunt, saying: “We need a massive step up in funding for social housing. “The last few budgets have been very disappointing when it comes to social and affordable housing assistance.”
This would create more homes for those most in need and would create jobs for construction industry workers, but that’s not all.
https://www.domain.com.au/news/federal-budget-2021-whats-on-the-…
# Australia, Public and community housing, Affordable housing, Federal Government.Vacant CBD offices could be used for housing, NSW chief economist says
Alexandra Smith The Sydney Morning Herald (Paywall)Sydney’s city office spaces left empty since the initial COVID-19 lockdown could be transformed into residential apartments similar to those in New York and London as a way to reinvigorate Australia’s economic centre, NSW’s chief economist says.
https://www.smh.com.au/politics/nsw/vacant-cbd-offices-could-be-…
# NSW, Housing market, Planning and development.Reimagining of Glebe’s social housing estate a “much-needed win” for the inner-city community
Daniel Lo Surdo (No paywall)Revised plans for housing renewal on Glebe’s Cowper Street and Wentworth Park Road have been heralded as an important victory for social housing tenants in the City of Sydney Local Government Area. NSW Government Minister for Water, Property & Housing Melinda Pavey announced last month its intentions to deliver 100 per cent new social housing on Cowper Street and Wentworth Park Road, with a total of 75 new homes to be completed, including five three-bedroom terrace homes for larger families. (City Hub)
https://cityhubsydney.com.au/2021/04/reimagining-of-glebes-socia…
# NSW, Public and community housing, Estate renewal, State Government.Runaway land prices undermine housing utility
Karl Fitzgerald The Fifth Estate (No paywall)Australia’s runaway land prices are akin to a national emergency. An increase of $4 trillion in just the next five years is highly likely. While meeting the weekly housing payment is our most essential financial commitment, why isn’t housing affordability the most pressing policy issue?
https://thefifthestate.com.au/columns/spinifex/runaway-land-pric…
# Australia, Housing affordability, Housing market.First home buyers tap the bank of mum and dad
John Collettt The Sydney Morning Herald (Paywall)The portion of first home buyers receiving financial assistance from their parents has hit a record high, as soaring house prices push up the deposit needing to be saved beyond the reach of many young buyers. ... The average financial contribution of parents is just under $90,000 – about the same as in 2017. Martin North, founder of Digital Finance Analytics (DFA), estimates that just over 60 per cent of first home buyers are receiving financial assistance from their parents
https://www.smh.com.au/money/borrowing/first-home-buyers-tap-the…
# Australia, Home ownership, Housing market.Unit prices fall in many city suburbs amid house-led real estate boom
David Chau ABC (No paywall)Despite house prices rising at their fastest pace in 32 years, apartments in Australia's most oversupplied cities aren't getting as much love from buyers. In some areas, unit prices have tumbled in the past year and still haven't recovered from their COVID-19 slump — with Sydney and Melbourne the worst hit capitals. Those cities, in particular, have relied heavily on international students and foreign workers being able to pass freely through Australia's borders, to rent out apartments that their investor landlords don't want to live in themselves.
https://www.abc.net.au/news/2021-04-21/unloved-apartments-amid-r…
# Australia, Strata, Coronavirus COVID-19, Housing market, Landlords and agents.