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
How much does a house deposit cost compared to the average wage?
Melissa Heagney Domain (No paywall)Home buyers looking to get into Australia’s pricey property market would need to save more than a year’s pay to scrape together a deposit on a house in any capital city, with deposits in some locations costing up to three times annual incomes. Even to purchase an apartment, buyers would need more than a year’s pay in expensive capitals and close to a year of income in more affordable cities. House prices have soared on the back of low interest rates, while wage growth has been sluggish until recently, amid an uncertain economic outlook. Buyers are now being pushed harder towards government assistance schemes or the Bank of Mum and Dad to get into the property market sooner, experts say.
https://www.domain.com.au/news/how-much-does-a-house-deposit-cos…
# Australia, Home ownership, Housing affordability, Housing market.Residents paid £450,000 by landlords after Housing Ombudsman’s rulings
Jack Simpson Inside Housing (Paywall)From the United Kingdom ... Social housing residents who have been victims of poor complaint handling have received nearly £450,000 from their landlords following orders from the Housing Ombudsman last year, new figures have revealed.
https://www.insidehousing.co.uk/news/news/residents-paid-450000-…
# International, Public and community housing, Local Government.House prices set to rise faster than wages next year even as property market slows and incomes pick up
Melissa Heagney Domain (No paywall)First-home buyers will struggle to get into the housing market even as wages improve and house prices slow, because house prices are still set to grow faster than wages next year, economists warn. ... ANZ senior economist Felicity Emmett said the widening gap between wages growth and house price rises had made it “extremely difficult” for those who did not already own property to get into the market. Though rents had fallen in some cities, it would not be of much help to those wanting to buy, Ms Emmett said.
https://www.domain.com.au/news/house-prices-set-to-rise-faster-t…
# Australia, Rent, Home ownership, Housing market.Rent Control for Private SROs Passes in Vancouver
Jen St. Denis (No paywall)Vancouver city councillors voted to implement stricter rent control for tenants who live in single-room occupancy hotels after hearing the policy could prevent people from becoming homeless amid steadily rising rates and gentrification. (The Tyee)
https://thetyee.ca/News/2021/11/18/Rent-Control-Private-SROs-Pas…
# International, Rent, Homelessness, Housing market, Local Government.Regulator publishes consumer regulation plans for landlords
Tim Clark Inside Housing (Paywall)From the United Kingdom ... The Regulator of Social Housing (RSH) has published its initial plans setting out how it will inspect and regulate housing associations regarding their treatment of tenants. In the paper published today, the RSH has laid out its method for regulating consumer standards. It will use the same underlying principles the regulator uses for economic regulation. The regulator identified six themes: safety, quality, neighbourhood, transparency, engagement and accountability, and tenancies.
https://www.insidehousing.co.uk/news/news/regulator-publishes-co…
# International, Public and community housing.Australian house prices 'rolling over' as rising interest rates, affordability bite, warns ANZ
Michael Janda ABC (No paywall)ANZ bank has tipped house price falls the year after next as the pandemic boom in Australian housing comes to an end.
https://www.abc.net.au/news/2021-11-18/house-prices-roll-over-af…
# Australia, Housing market.The investor’s dilemma: Should you rent out your holiday home for the short or long term?
Sue Williams Domain (No paywall)It’s the common dilemma for many investing in property in any one of the strongly performing holiday markets around Australia. Should it be kept as a holiday home, with short-term holiday lets when the family doesn’t want it, or should it be put into the long-term residential rental pool?
https://www.domain.com.au/news/the-investors-dilemma-should-you-…
# Australia, Rent, Landlords and agents, Short-term holiday letting.Evergrande frees funds with HengTen sale amid ‘highly likely’ default
Avatar Clare Jim and Donny Kwok The New Daily (No paywall)Troubled Chinese property developer Evergrande is selling its entire stake in streaming services firm HengTen for $HK2.13 billion ($376 million), as the cash-strapped firm boosts efforts to avoid a debilitating default on its debts. However, S&P Global Ratings said in a report on Thursday a default is still “highly likely” for the world’s most indebted developer – despite its recent bond coupon payments – because it has a bigger test in March and April next year, facing a total of $US3.5 billion ($4.8 billion) maturities in dollar bonds.
https://thenewdaily.com.au/finance/2021/11/19/evergrande-hengten…
# International, Housing market, Landlords and agents.