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
NSW rental pain: Households spending more than 35 per cent on rent
Jessica Wang news.com.au (No paywall)Households in NSW are spending the most of their household income on rent, with one housing data expert warning conditions were the toughest he’s seen in more than 20 years.
NSW renters are spending more than 35 per sent of a household’s weekly income on rent, new data from Suburbtrends has revealed.
The worrying statistic comes as welfare groups warn a household is in rental stress if more than 30 per cent of its income goes towards rent.
Suburbtrends founder Kent Lardner said people “across the board” were falling under rental strain in “one fell swoop”, with conditions the toughest he’s his 20-year-plus career.
https://www.news.com.au/finance/real-estate/renting/nsw-rental-p…
# Hot topic, Research alert NSW, Housing affordability, Housing market, Planning and development.Walgett Aboriginal elders demand housing help 18 months after men's homeless shelter demolished
Kenji Sato ABC (No paywall)Aboriginal elders in Walgett are demanding more housing support from the state government more than a year after the town's only men's shelter was demolished.
The NSW government bulldozed Namoi House in January last year to make way for domestic violence units, but construction ground to a halt due to a budget blowout.
The absence of support in the town comes as new Homelessness NSW data shows Walgett has the worst rates of homelessness in the state.
https://www.abc.net.au/news/2023-07-17/walgett-shelter-demolishe…
# Hot topic NSW, Aboriginal renters, Campaigns and law reform, Planning and development.More in NSW falling into rental stress
Steven Byerley MPA Mag (No paywall)Renters in New South Wales are facing the toughest conditions in over 20 years, as new data from Suburbtrends reveals that households in the state are spending more than 35% of their weekly income on rent.
This statistic has raised concerns among welfare groups, who consider a household to be in rental stress when more than 30% of its income is allocated to rent, according to a report from NCA Newswire.
According to Kent Lardner, founder of Suburbtrends, people from all walks of life are experiencing rental strain simultaneously, making the situation particularly challenging.
https://www.mpamag.com/au/news/general/more-in-nsw-falling-into-…
# Hot topic, Research alert NSW, Rent, Housing affordability, Housing market.NSW's building industry is reforming after years of apartment defects, but comes too late for many owners
Gavin Coote ABC (No paywall)Brian Tucker is forking out thousands of dollars on quarterly strata fees and paying down his mortgage on an apartment that's been uninhabitable for more than four years.
The Sydney surveyor owns one of the 130 apartments in the defect-plagued Mascot Towers that have been unoccupied since 2019 when cracks were found in the basement.
And while the Mascot Towers saga helped bring systemic issues in the NSW construction industry into clear focus, Mr Tucker's life remains on hold.
https://www.abc.net.au/news/2023-07-15/nsw-building-industry-ref…
# Hot topic, TUNSW in the media NSW, Housing affordability, Housing market, Planning and development.International students struggle to find housing in Wollongong
Natalie Croxon Illawarra Mercury (Paywall)International students are falling vulnerable to exploitation as they struggle to find housing in an already stretched Wollongong, with the upcoming academic session bringing another influx of students to the city.
# Hot topic NSW, Housing affordability, Housing market, Students.VIDEO: Standoff over closure of popular NSW retirement village
Bruce Mackenzie ABC (No paywall)The operators of an aged care facility in Byron Bay are seeking to shut its doors- but some remaining residents are refusing to leave.
https://www.abc.net.au/news/2023-07-19/standoff-over-closure-of-…
# Hot topic, Video NSW, Older people, Planning and development, State Government.NIMBYism in Sydney is leading to racist outcomes
Awais Piracha and George Greiss The Conversation (No paywall)Residents of the affluent east and north of Greater Sydney have strongly resisted housing development in their suburbs. This NIMBY (Not In My Back Yard) resistance has led to urban sprawl in areas of Western Sydney with a well-documented lack of services, infrastructure and jobs.
Recent research showed affluent Sydney communities closer to the city centre are highly influential and organised in resisting development in their neighbourhoods. The result has been a socioeconomically divided city.
Ethnic segregation is a less-talked-about aspect of this divide. Most population growth in Sydney is from non-white new migrants. Dumping them all in the city’s west, when many are suited for and employed in professional jobs, is not only economically unproductive, it also leads to an ethnically segregated city.
https://theconversation.com/nimbyism-in-sydney-is-leading-to-rac…
# Hot topic, Research alert NSW, Housing market, Planning and development, Race and ethnicity.High rental growth likely to ease from 2024 as RBA reaches end of interest rate hikes
Kate Ainsworth ABC (No paywall)High rental growth is likely to ease from next year as the Reserve Bank of Australia signals it is near the end of its current interest rate hiking cycle and inflation begins to moderate.
New analysis from property research firm CoreLogic, which explored the correlation between higher interest rates and higher rents, suggests Australia's rental market is likely to "loosen" from 2024, as inflation begins to fall and the RBA stops rate rises.
Australia's cash rate is expected to peak this year, with NAB and Westpac forecasting a terminal rate of 4.6 per cent by September, Commonwealth Bank at 4.35 per cent by August, and ANZ expecting no further rate rises beyond the current 4.1 per cent — although those figures will likely be reviewed in the wake of June inflation data next week.
https://www.abc.net.au/news/2023-07-19/high-rents-interest-rates…
# Hot topic Australia, Rent, Housing affordability, Planning and development.