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
Demand is driving rents up. Here’s what to do when faced with a rent increase
(No paywall)Rents are rising in many states across Australia, where many areas have vacancy rates of just above zero. So what do you do when asked to stretch your budget to meet a rent increase? (rent.com.au)
# Australia, Rent.A raft of new social housing proposals are being criticised for being too ambitious — and not ambitious enough
Bianca Healey (No paywall)Amid a housing affordability crisis, several new social housing proposals are being scrutinised. While the major parties compete on policy to address the issue, critics say many of the plans don’t go far enough. Leo Patterson Ross, chief executive of the Tenant’s Union of NSW, told Business Insider Australia it had witnessed skyrocketing rental stress since the start of the pandemic, particularly in regional areas. “We’ve really seen the most aggressive increases [in rent] up and down the coast,” he said. Ross said one way to redress this imbalance was for the government to build a supply of affordable housing to create stable “availability and pricing” outside of the current market. “Because there’s no genuine competition for landlords, particularly [on] the low end of the private market, there’s very little competition that would change their behaviour and make them work to keep their tenants,” he said. “A big supply of genuinely affordable housing would provide that competition.” (Business Insider Australia)
https://www.businessinsider.com.au/new-social-housing-proposals-…
# TUNSW in the media Australia, Public and community housing, Rent, Affordable housing, Coronavirus COVID-19, Housing market.Retirement villages: the most complicated finance contracts in Australia
Callum Foote (No paywall)It’s one of Australia’s most complex legal challenges. Experts have found that only 1 in 20 people can properly understand a retirement village contract. There is a better way if only politicians could agree to help retirees. ... So devilishly complicated are retirement village contracts that an actuary and lecturer in applied finance, someone at the very pinnacle of mathematics and structured finance, reckons they are harder to understand than even synthetic collateralised debt obligations (CDOs). (Michael West Media)
https://www.michaelwest.com.au/retirement-villages-the-most-comp…
# Australia, Housing market, Older people.Did a viral video expose the need for landlord registries?
Juliet Helmke (No paywall)After comedian Tom Cashman’s experience requesting a reference for the landlord of a property he was applying to rent went viral on TikTok, debate has surrounded the question of whether this practice should be normalised, or even encouraged. ... What NSW Tenants’ Union suggests as more ideal is the implementation of a landlord registry that mandates landlords obtain a licence from their state body. It would include a database where tenants could see if there are documented issues with their landlord, but more importantly, it would contain a component of education to bring a greater level of professionalism and awareness of standards to the role of being a landlord. While serving its main purpose of strengthening the experience for property tenants, Mr Patterson Ross believes it would serve a clear benefit to property managers as well. If landlords are obligated to learn about the probable cost of maintenance to their property each year, for example, and educated on the responsibility to maintain acuity, it essentially “greases the wheels for property managers”, he said. (Real Estate Business)
https://www.realestatebusiness.com.au/property-management/22865-…
# TUNSW in the media NSW, Rent, Landlords and agents.Old Kempsey caravan park and flooded cabins become housing for homeless young people
Emma Siossian, Luisa Rubbo, and Cameron Marshall ABC (No paywall)Flood-damaged cabins in a derelict caravan park don't really sound like most people's vision of a dream home. But when you've spent years on the streets sleeping rough, scared and lonely, your dreams change and so does your vision of "home". Tahlia Ives has been homeless on and off for most of her life. Now, for the first time, the 16-year-old has reliable housing in the northern NSW town of Kempsey, where a new initiative is bringing hope to young people like her. Mid North Coast specialist youth homelessness service YP Space is reimagining how to provide safe, secure housing for at-risk young people — and expanding its ability to do so. The organisation is refurbishing a disused caravan park and water-damaged cabins to provide affordable housing for people aged between 16 and 25 who are experiencing homelessness. Tahlia has been helped by YP Space over a number of years and says, thanks to them, she's now finally finding her feet. "They are now housing me in their refuge home and helping me get on a better path and it's so amazing to finally be able to do that," she says.
https://www.abc.net.au/news/2022-02-10/derelict-kempsey-caravan-…
# NSW, Affordable housing, Homelessness, Housing market, Young people.Why the NZ government is right to rule out rent controls as a housing crisis solution
James Graham The Conversation (No paywall)Having floated the prospect of introducing rent controls just last week, it seems the government has already ditched the proposal. In tentatively raising the idea, Associate Minister for Housing Poto Williams pointed out the need for policy solutions to the problem of rapidly rising housing costs. However, Prime Minister Jacinda Ardern has now adamantly stated: “We are not considering rent controls.” There will undoubtedly be some disappointment at this, given the state of New Zealand’s housing and rental markets.
https://theconversation.com/why-the-nz-government-is-right-to-ru…
# International, Rent, Housing market.Sydney's population is predicted to explode — this is where people will live in 20 years
Catherine Hanrahan ABC (No paywall)The number of people who call NSW home is expected to grow by a third in the next 20 years, topping 10.6 million in 2041. Of those, 3.5 million are predicted to be in regional areas — an increase of 400,000 on today's number. While suburbs like Austral [in Sydney's south-west] will bear the brunt of the growth, almost every corner of Sydney is expected to be more crowded. [Check out the table entitled: 'Population change from 2020 to 2041 - NSW suburbs' and type in your suburb]
https://www.abc.net.au/news/2022-02-10/population-growth-outstri…
# NSW, Coronavirus COVID-19, Housing market, Planning and development.International travel to and from Australia is resuming — how will house prices and rents respond?
Daniel Keane ABC (No paywall)International travel, both to and from Australia, is revving back into action, but questions remain about how that will impact the nation's booming real estate market. ... But greater population movement is also tipped to bring broader economic impacts, including potential flow-on effects in the housing and rental markets, at a time when the COVID-19 pandemic has driven record price growth. ... University of Adelaide Master of Property program director Peter Koulizos believes the earliest indications that travel is impacting the property market will not be on house prices but on rents, which have also soared to record highs in recent months. ... Mr Koulizos said that, with international travel, that trend would not only continue but accelerate. "You're going to see them [rents] increase even faster than they did last year," he said. "With literally hundreds of thousands of people coming in — a mixture of international students as well as migrants looking to settle in Australia — all of these people need somewhere to live. "The vast majority are not allowed to buy because they're not permanent residents so they are all pushed into the rental market."
https://www.abc.net.au/news/2022-02-09/how-will-international-tr…
# Hot topic Australia, Rent, Coronavirus COVID-19, Housing market, Landlords and agents.