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
Thousands to receive extra housing support as eviction ban ends
Katy Scott (No paywall)From the United Kingdom ... Thousands of vulnerable young people could receive extra help to pay their rent under fast-tracked changes to housing benefits announced by the government, as charities warn of a “tsunami” of renters being thrown out of their homes with the end of the eviction ban. (The Big Issue)
https://www.bigissue.com/latest/thousands-to-receive-extra-housi…
# International, Eviction, Rent, Coronavirus COVID-19, Homelessness, Young people.First-home buyer stamp duty concessions are about to change in the Northern Territory
Felicity James ABC (No paywall)Leah Brown and her partner Darren are feeling the pressure to buy a house after a significant rent hike. They are searching in Darwin, where rental vacancy rates are among the tightest in the country – their rent has jumped by $150 a week. ... But they are trying to enter the market and buy their first property at a time when the NT Government is preparing to scrap its stamp duty exemption for first-home buyers. The decision to scrap a stamp duty exemption worth almost $20,000 at the end June – the Territory Home Owner Discount – means Ms Brown and her family will need more money for a deposit.
https://www.abc.net.au/news/2021-05-31/nt-first-home-buyers-conc…
# Australia, Home ownership, Tax.Australian house prices to rise by 15 per cent this year but slow in 2022
Melissa Heagney Domain (No paywall)House prices across Australia will rise by 15 per cent by the end of the year before slowing to just 5 per cent in 2022, a new Westpac Housing Pulse has revealed.
https://www.domain.com.au/news/australian-house-prices-to-rise-b…
# Australia, Housing market.‘Lists and sags’: Questions around PEXA’s $3.3b valuation
Charlotte Grieve and Colin Kruger The Sydney Morning Herald (Paywall)Property settlements platform PEXA is set to become the largest float in almost three years after its majority shareholder Link Administration opted to maximise the company’s potential value. ... PEXA is a private company owned by Link, Commonwealth Bank and Morgan Stanley Infrastructure Partners that has gained a dominant market share in online property lodgements and settlements since launching in 2010.
https://www.smh.com.au/business/banking-and-finance/link-confirm…
# Australia, Housing market.Australia still in a property boom as values rise by 2.2 per cent in just one month
Melissa Heagney Domain (No paywall)Australia’s property boom has picked up pace again, with national housing values rising 2.2 per cent in May, new data shows.
https://www.domain.com.au/news/australias-housing-boom-rolls-on-…
# Australia, Housing market.RBA keeps interest rates at record low of 0.1% as housing prices hit record highs
Naaman Zhou The Guardian (No paywall)The reserve bank has continued to hold interest rates at a record low of 0.1% as house prices across Australia keep rising. The national housing market rose 2.2% in May, according to the latest data from CoreLogic, following on from a 1.8% rise in April and a 32-year record rise in March of 2.8%.
https://www.theguardian.com/australia-news/2021/jun/01/rba-keeps…
# Australia, Housing market.Property prices jump 2.2 per cent as housing boom rolls on
Euan Black The New Daily (No paywall)Australia’s housing boom continued apace in May as buyers buoyed by the economic recovery rushed to take advantage of record-low interest rates. National property values surged 2.2 per cent over the month and ended it 10.6 per cent higher than the same time last year. The sharp rise was stronger than expected as analysts had thought a rise in the number of properties listed for sale combined with growing affordability concerns would curb the pace of growth.
https://thenewdaily.com.au/finance/property/2021/06/01/house-pri…
# Australia, Housing market.Supply failing to keep up with demand in red-hot property market
Euan Black The New Daily (No paywall)Buyers are snapping up properties faster than vendors can list them for sale in a housing market that barely noticed the recession and has now recorded eight consecutive months of price rises. Demand for housing is so strong that even a jump in the number of new listings to 15 per cent above the five-year average was not enough to cool the market in May. National property values increased 2.2 per cent over the month and are now 10.6 per cent higher than the same time last year – with new data from CoreLogic showing that for every new property added to the market, more than one property is exchanging hands.
https://thenewdaily.com.au/finance/property/2021/06/01/housing-m…
# Australia, Housing market.