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.
Our main email newsletter, Tenant News is sent once every two months. You can subscribe or update your subscription preferences for any of our email newsletters here.
See notes about the Digest and a list of other contributors here. Many thanks to those contributors for sharing links with us.
We love sharing the news and hope you find it informative! We're very happy to deliver it for free, but if you find it valuable, can you help cover the extra costs incurred by making a donation?
Archive
First home buyers locked in new battle with investors
John Collett The Sydney Morning Herald (Paywall)The number of first home buyers entering the property market has fallen as the return of cashed-up investors, reduced government incentives and higher property prices make it harder for young people to get a foot on the property ladder.
https://www.smh.com.au/money/borrowing/first-home-buyers-locked-…
# Australia, Home ownership, Housing market, Landlords and agents.Family of six stuck in a tent as Townsville's rental shortages reach crisis point
Sally Rafferty ABC (No paywall)A North Queensland family of six has been forced to live in a tent for almost two months as rental shortages reach crisis point in Townsville. The Kennison family is among a growing number of residents in Townsville finding themselves homeless for the first time. With the rental vacancy rate in the city at 1.2 per cent — largely driven by interstate migration and the return of ex-pats to the community — Townsville is not alone.
https://www.abc.net.au/news/2021-07-14/rental-shortages-see-fami…
# Australia, Public and community housing, Rent, Families, Homelessness.Here’s Who Will Be Left Behind in the Housing Boom
Ali Wolf The New York Times (No paywall)From the United States ... When Covid-19 first hit, those of us in the real estate industry predicted a collapse of the housing market. In just the first two months of the pandemic, 22.4 million Americans lost their jobs, while gross domestic product fell at the fastest rate in modern history in the second quarter. Instead, what unfolded was a transformation of the housing market, fueled by what I call “migration mania.” For employees in many industries, working remotely during the pandemic effectively has untethered them from their physical offices. Historically, but even more so during the pandemic, those with higher-income jobs are the most likely to work from home, McKinsey & Company found. As a result, many of them have chosen to move from more expensive areas of the country to lower-cost metros.
https://www.nytimes.com/2021/07/13/opinion/covid-housing-phoenix…
# International, Coronavirus COVID-19, Housing market.The most expensive cities to rent in right now
9 News (No paywall)Harbour City knocked off perch for first time in over a decade. Finding the right rental can be tricky and it is set to get even harder, with new data revealing rent in Australian homes have hit an all time high. Today finance expert Effie Zahos said most capitals have seen a spike. Data indicates the biggest were in Canberra and Darwin. (9now)
https://9now.nine.com.au/today/the-most-expensive-cities-to-rent…
# Australia, Rent, Housing market.Labor leader Anthony Albanese lists Marrickville investment house for $2.1m
Lucy Macken Domain (No paywall)Sydney’s booming housing market has lured Labor leader Anthony “Albo” Albanese and former NSW deputy premier Carmel Tebbutt to the market, listing their Marrickville investment property for $2.1 million.
https://www.domain.com.au/news/labor-leader-anthony-albanese-lis…
# NSW, Landlords and agents.Buyers face hot competition for property as auction bidders rise above the last boom
Elizabeth Redman Domain (No paywall)Home buying hopefuls are facing tougher competition at auction this year than during the last property boom, with new figures showing the number of bidders per home has jumped. There were 3.6 average active bidders fighting it out for each auction in the last week of June, ...
https://www.domain.com.au/news/buyers-face-hot-competition-for-p…
# Australia, Housing market.Flexible designs for multi-generational homes
Matilda Marozzi ABC (No paywall)While Alf Lee is in the privileged position to have bought property, he doesn't think his kids will be so lucky given the soaring house prices in Melbourne. So when it was decided his ageing parents would sell their house and move in with Alf, his wife Emma and their two children, the family wanted to create a home where the three generations could continue to live together — with privacy — as their lives change.
"My parents don't want to feel as though they've lost their independence," Alf says. (ABC Everyday)
https://www.abc.net.au/everyday/designing-multi-generational-hom…
# Australia, Families, Housing market.Meet the landlords forced to bribe tenants to leave properties
Rachel Mortimer and Melissa Lawford (Paywall)I even offered to pay the deposit on a new rental to get rid of them', one buy-to-let investor said ... 'I even offered to pay the deposit on a new rental to get rid of them', one buy-to-let investor said. (The Telegraph)
https://www.telegraph.co.uk/property/buy-to-let/meet-landlords-f…
# International, Landlords and agents.