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
Property prices to fall up to 20 per cent: RBA
Shane Wright The Sydney Morning Herald (Paywall)Property prices could fall as much as 20 per cent by the end of 2024, hitting consumers and wiping hundreds of billions of dollars worth of wealth from households, internal research by the Reserve Bank has found. Documents released under Freedom of Information by the bank show it believes the sharp rise in interest rates it has put in place to quell inflation will have a direct impact on the value of the largest asset held by most Australians over the next two years.
https://www.smh.com.au/politics/federal/property-prices-to-fall-…
# Australia, Housing market.How big a pay rise you need to afford to buy a house
Melissa Heagney Domain (No paywall)Home hunters would need a pay rise of as much as $28,000 since April to afford a median-priced house even though property prices are falling, because mortgage repayments are more expensive now, new modelling shows. If a potential home buyer does not manage to purchase until March 2023 and interest rates rise as forecast, they would need to earn an extra $9000 by then.
https://www.smh.com.au/property/news/how-big-a-pay-rise-you-need…
# Australia, Housing affordability, Housing market.Digital Finance Analytics (DFA) Blog The US Housing Market Is Cooling…
(No paywall)Latest US data shows housing starts is falling, as mortgage rates rise. (Digital Finance Analytics)
https://digitalfinanceanalytics.com/blog/the-us-housing-market-i…
# Video International, Housing market.This is how high mortgage repayments could go for every loan size
Nicole Pedersen-McKinnon The Sydney Morning Herald (Paywall)The good news: the pace of interest rate rises has slowed. The bad news: they have not stopped.
The Reserve Bank is still expecting inflation to stand at about 7.75 per cent at the end of the year. And its priority is (still) to return that rate to between 2 and 3 per cent over time, all while keeping the economy on an “even keel”. Even it admits this is a tough ask, with the RBA noting the path to achieving that balance is “clouded in uncertainty”.
https://www.smh.com.au/money/borrowing/this-is-how-high-mortgage…
# Australia, Housing affordability, Housing market.Auctions are in a downward cycle, pushing property prices lower
Elizabeth Redman Domain (No paywall)House prices are in a downward cycle and sellers who need to secure a sale are increasingly flexible on price, but as prices fall, it’s motivated sellers who make up an increasing slice of the market. Many homeowners who are in no rush to sell are delaying their campaign until next year, while this spring’s vendors are largely aware they should not expect last year’s boom-era prices.
https://www.smh.com.au/property/news/auctions-are-in-a-downward-…
# Australia, Housing market.Unrealised Barangaroo: precinct plans that never saw light of day
Julie Power The Sydney Morning Herald (Paywall)The concrete may be nearly gone, but today’s Barangaroo foreshore development lacks Venetian-style canals, a place to swim, a giant boomerang sculpture, a wind farm, or even fin-shaped buildings that appear to leap out into the water to create a sculptural promenade. If some architects had their way, Barangaroo today would have included some of these attractions, combined with more green space and fewer skyscrapers. Also, read Anthony Segaert's article entitled: 'How Barangaroo’s Crown Tower has changed Sydney’s skyline' in 'The Sydney Morning Herald' at: [https://www.smh.com.au/national/nsw/how-barangaroo-s-crown-tower-has-changed-sydney-s-skyline-20221011-p5boy3.html]. Read the article by Michael Koziol and Megan Gorrey entitled: '"Bedevilled from the start": What Barangaroo can teach Sydney about planning' in 'The Sydney Morning Herald' at: [https://www.smh.com.au/national/nsw/bedevilled-from-the-start-what-barangaroo-can-teach-sydney-about-planning-20221020-p5bre3.html]. Read Michael Koziol's opinion piece entitled: 'What are you all smoking? Barangaroo is fine - it might even be great' in 'The SYdney Morning Herald' at: [https://www.smh.com.au/national/nsw/what-are-you-all-smoking-barangaroo-is-fine-it-might-even-be-great-20221019-p5br1s.html]
https://www.smh.com.au/politics/nsw/unrealised-barangaroo-precin…
# NSW, History, Planning and development, State Government, Sydney.Tenant News
Tenants' Union of NSW (No paywall)Lots of stories ...
Who is using the Tribunal and why?
Healthy Homes - Parliament Briefing
New Resources - Easy Read factsheets, New podcasts, Rent Tracker tools
How to solve the housing crisis?
Increased government investment needed
Evicted! A Modern Romance
https://us3.campaign-archive.com/?e=7cb9765e09&u=29c79d2825cb376…
# NSW, Public and community housing, Rent, Tribunal NCAT, Affordable housing, Campaigns and law reform, Climate change, Health, Homelessness, Housing market, Human rights, Landlords and agents, Mould, No-grounds evictions, Renting culture.The insecurity and uncertainty of renting: 'A constant exercise in weighing up options.'
My name is Sarah Tenants' Union of NSW (No paywall)At the recent Briefing on Healthy Homes for Renters held at NSW Parliament on 13 October 2022, Sarah shared her experience renting her home. Though a lawyer and academic researcher, Sarah explained that as a renter she does not feel confident asserting her rights to a healthy home.
https://www.tenants.org.au/blog/insecurity-and-uncertainty-renti…
# NSW, Rent, Repairs, Utilities electricity water gas, Disability, Health, Mould.