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
Mortgage-to-rent reboot promised after months of limbo
Joe Brennan Irish Times (No paywall)The Housing Agency is set to unveil a reboot of the mortgage-to-rent scheme following months of heightened uncertainty over the future of the programme, which had left distressed borrowers, lenders and players in the sector in limbo.
Officials from the Department of Housing have informed lenders and organisations involved in a previous pilot mortgage-to-rent scheme that the agency will this week launch a call for expressions of interest from private and approved housing body sector entities interested in becoming mortgage-to-rent providers, capable of delivering “at scale”.
Interested parties will have about two weeks to respond to the call, according to the notification seen by The Irish Times. Those that meet minimum eligibility requirements will be given a further five weeks to submit necessary documents.
https://www.irishtimes.com/business/2023/07/10/mortgage-to-rent-…
# Hot topic International, Rent, Housing affordability, International.Signs rental crisis is easing as vacancy rates nudge upwards in Australia’s major cities
Peter Hannam and Tamsin Rose The Guardian (No paywall)Australia’s rental crisis is showing modest signs of easing, with vacancy rates in the major cities improving slightly, but from levels that remain about half of pre-Covid levels, according to data group PropTrack.
Rental vacancy rates nationally increased 0.02 percentage points to 1.45% last month, while those in capital cities edged 0.03 percentage points higher to 1.42%. Both were just shy of half the rates in March 2020.
On a quarterly basis, the vacancy rate in Sydney improved 0.28 percentage points to 1.73%, the largest improvement among the major cities. For Melbourne, the rate increased 0.16 percentage points to 1.4%, while Brisbane’s was little changed at 1.12% and even fell slightly compared with May.
https://www.theguardian.com/australia-news/2023/jul/11/signs-ren…
# Hot topic, TUNSW in the media, Research alert Australia, Housing affordability, Housing market, Planning and development.Turning the housing crisis around: how a circular economy can give us affordable, sustainable homes
Ralph Horne and Julie Lawson The Conversation (No paywall)Households across Australia are struggling with soaring energy and housing costs and a lack of housing options. Mixed with a climate crisis, economic volatility and social inequality, it’s a potent set of policy problems. Australia needs a circuit-breaker – a bold national project to tackle the climate crisis and support households by shifting to a more sustainable housing industry.
This is a project based on circular economy principles. The emphasis is on reducing materials and resources, optimising building lifespan, designing for reuse and zero waste, and regenerating nature. By getting the most out of finite resources, we can minimise waste and shrink our carbon footprint.
Our research for the Australian Housing and Urban Research Institute (AHURI) applies these principles to housing. We developed a comprehensive strategy for the sector’s transition to a circular economy. It gives priority to local jobs, access to affordable housing, resilient and functional design, and carbon-neutral, energy-efficient operation.
https://theconversation.com/turning-the-housing-crisis-around-ho…
# Hot topic, Research alert Australia, Housing affordability, Housing market, Planning and development.The tiny Aussie seaside town where the cost of renting has gone up by 250 per cent in five years
Maria Gil Domain (No paywall)On South Australia’s Fleurieu Peninsula rests the picturesque coastal town of Port Elliot. Just 84 kilometres south of Adelaide, it offers beauty, history and a relaxed atmosphere.
But over the past five years, the cost of renting in Port Elliot has skyrocketed. The median asking rent price for a house has risen by 250 per cent to $1050 a week, according to the latest Domain Rent Report.
By way of contrast, Sydney’s Vaucluse – the most expensive suburb in which to rent in Australia – has seen rents increase 55.6 per cent over the past five years.
https://www.domain.com.au/news/the-cost-of-renting-has-gone-up-b…
# Hot topic Australia, Rent, Housing affordability, Housing market.Queensland rental market hardest hit by rental price hikes
Rowan Crosby The Property Tribune (No paywall)The rental crisis continues to bite down hard on tenants around Australia, with Suburbtrend’s latest Rental Pain Index showing all states, except for the territories, saw average rent, as a percentage of income, above 30% – a figure that typically indicates rental stress.
The hardest hit states were Queensland (QLD), South Australia (SA) and New South Wales (NSW).
Kent Lardner, founder of Suburbtrends said QLD not only leads the pack in terms of rental pain but also boasts the largest average 12-month rental increase at 16.33%.
https://thepropertytribune.com.au/market-insights/queensland-ren…
# Hot topic Australia, Rent, Housing affordability, Housing market.Why is Melbourne the cheapest capital city to rent a house?
Allison Worrall Domain (No paywall)Melbourne is Australia’s second-largest city, a sporting mecca, arguably the cultural capital of the country and a hugely popular landing destination for migrants. So, why is it the most affordable city in which to rent a house?
Melbourne’s median house rent has climbed to $520 – a record high after seven consecutive quarters of rent rises, according to the latest Domain Rent Report. There is no doubt the housing market is dire for Melbourne renters, many of whom are struggling to find or keep a roof over their heads in the face of steep rent hikes and a shortage of properties on the market.
But, even after unprecedented rental growth, Melbourne’s median house rent remains far below Sydney ($700), Canberra ($675) and Darwin ($650).
https://www.domain.com.au/news/why-is-melbourne-the-cheapest-cap…
# Hot topic Australia, Rent, Housing affordability, Housing market.Residents fight ‘traumatising’ mass eviction from Williamstown industrial estate
Rachael Dexter The Age (Paywall)Residents being evicted from a storied industrial estate in Melbourne’s inner west are pleading for mercy after their council suddenly enforced zoning rules that changed more than 30 years ago.
Young families and elderly people are among the residents who have launched a petition and will attend a meeting on Tuesday night to argue for Hobsons Bay City Council to amend the industrial zoning of the area to allow them to stay.
Techno Park Drive in Williamstown had housed refugees and migrants since World War II, before it was sold into the private market in the late 1980s and rezoned as an industrial area, meaning people could no longer legally live there. The council considers it unsafe as a residential area.
https://www.theage.com.au/national/victoria/residents-fight-trau…
# Must read, Hot topic Australia, Eviction, Housing affordability, Local Government.Renters more likely than owner-occupiers to face health risks from house quality, expert says
Sam Nichols ABC (No paywall)When 28-year-old Shay moved to Sydney late last year, she was warned that finding a rental would be incredibly competitive and would take time.
Both predictions came true.
"I would have seen maybe 50 [properties]," she tells ABC RN's The Money.
For weeks Shay and her housemate inspected properties, many of which were charging "an extreme price" but "weren't worth it" because they were decrepit or covered in mould.
https://www.abc.net.au/news/2023-07-11/australian-renters-mould-…
# Must read, Hot topic Australia, Health, Housing market, Mould.