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
The B.C. NDP and the Residential Tenancy Board are failing renters
Ben Ger, Rebecca Kantwerg, and Steph Langford (No paywall)From Canada ... David Eby, B.C.'s attorney general and minister responsible for housing, and MLAs like Spencer Chandra Herbert have recently been promoting their changes to the Residential Tenancy Act. These changes relate to the eviction method of choice for landlords wanting to get around the limitation on raising rents of current tenants. Now when a landlord wishes to evict a tenant for renovations (known commonly as “renovictions”), they must first apply to the Residential Tenancy Branch (RTB)—the province’s landlord-tenant dispute body—for approval.
Though a welcomed step in the right direction, these provincial changes will not end the displacement of working-class people from what little affordable housing is left. Profit will continue to motivate the eviction of tenants; renovictions will move forward; and other evictions will occur for similarly questionable reasons, such as moving a caretaker into a suite. (The Georgia Straight)
https://www.straight.com/news/bc-ndp-and-residential-tenancy-boa…
# International, Eviction, Rent, Tribunal NCAT, Affordable housing.Small businesses float a national rent relief plan for economic recovery
Jennifer Duke The Sydney Morning Herald (Paywall)Regarding commercial leases ... Small businesses want a national approach to rent relief during lockdowns, including federal government-backed loans to help repay debt racked up from lease deferrals. Council of Small Business Organisations Australia interim chief executive Alexi Boyd said a new plan assisting employers across the country needs to be introduced to ensure small businesses are not left at the mercy of negotiating with large landlords.
https://www.smh.com.au/politics/federal/small-businesses-float-a…
# Australia, Rent, Coronavirus COVID-19, Landlords and agents.Asking rents rise despite latest round of lockdowns: SQM Research
Elizabeth Redman Domain (No paywall)Pockets of the rental market are picking up despite the latest round of lockdowns, with asking rents rising or holding steady in major cities and regional areas, new figures show. But the number of vacant properties also edged up, with rental vacancy rates holding at elevated levels in the Sydney and Melbourne CBDs, hard hit by the loss of international students last year.
https://www.domain.com.au/news/asking-rents-rise-despite-latest-…
# Australia, Rent, Housing market.Why the housing market and household finances are still in good shape, despite lockdowns
Tawar Razaghi Domain (No paywall)Government income support, the onset of the vaccine rollout and familiarity with lockdowns has helped households stay afloat and avoid major financial or housing distress so far, economists say.
https://www.domain.com.au/news/why-the-housing-market-and-househ…
# Australia, Coronavirus COVID-19, Housing market.Tougher lending landscape for some homeowners and easier for others: mortgage brokers
Tawar Razaghi Domain (No paywall)Prospective homeowners in hard-hit COVID-affected industries and cities could find it more difficult to get a home loan approved now compared with the start of the year, mortgage brokers say. But anyone else who has been lightly touched by the on-again, off-again restrictions and is able to retain their job may actually find it even easier as banks take a more “common sense” and speedier approach in handing out mortgages.
https://www.domain.com.au/news/tougher-lending-landscape-for-som…
# Australia, Coronavirus COVID-19, Home ownership, Housing market.Pandemic sparks rush to purchase regional property ‘sight unseen’
Emily Chantiri The Sydney Morning Herald (Paywall)As tens of thousands of people desert our capital cities in a coronavirus pandemic-induced exodus, a new trend is emerging in the scramble to beat fast-growing regional property prices – buying a house sight unseen. Country real estate agents are reporting a higher number of property listings being snapped up by couples who are enduring lockdowns, preventing them from travelling for a viewing.
https://www.smh.com.au/money/borrowing/pandemic-sparks-rush-to-p…
# Australia, Coronavirus COVID-19, Housing market, Regional NSW.Time and cost of building a house blows out due to construction boom
Tawar Razaghi Domain (No paywall)The time it takes to build a house is blowing out due to the country’s ongoing construction boom, with reports some builders are increasing the build price to avoid making a loss, and devastated home owners walking away from contracts altogether.
The country has seen a mammoth construction boom since the pandemic hit with government incentives such as the federal HomeBuilder scheme and other state-based new build grants boosting activity. While it has substantially increased business for builders across the country, the huge take-up in new house construction has left home owners with delayed building times and higher than expected costs. Builders who signed up home owners months ago for house and land packages are now facing unforeseen supply shortages and increased material costs, leaving them with longer build times and a blowout in prices.
https://www.domain.com.au/news/time-cost-of-building-a-house-blo…
# Australia, Coronavirus COVID-19, Federal Government, Housing market.Refinancing with cash back could be worth it. Here’s how the maths stack up
Matthew Elmas The New Daily (No paywall)Home owners could save more than a thousand dollars over two years by refinancing to a loan that offers a cash sweetener.
https://thenewdaily.com.au/finance/dollars-and-sense/2021/08/17/…
# Australia, Home ownership.