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
What it's like to live on the road in a van or bus
Patrick Wright ABC (No paywall)For the last four years, Kevin Craft and his family have been living in an eight-metre-long bus. ... Kevin and his wife Cristina were living in Sydney until 2017, when they swapped their rental house for a bus. Since then, they've spent months travelling through South Australia, Victoria, New South Wales and Queensland. With the arrival of their son Marco 18 months ago, the family have slowed down — they're now based in Byron Bay. They're still living in the bus but aren't travelling as much.
https://www.abc.net.au/everyday/what-its-like-to-live-on-the-roa…
# Australia, Land lease communities.Household wealth is soaring, but who's benefiting?
Gareth Hutchens ABC (No paywall)Late last year, the Australian Council of Social Service (ACOSS) published a report showing the main components of wealth in Australia. Using the latest available data from the Bureau of Statistics (for 2017-18), it showed the average wealth per household in Australia in 2018 was made up of: Main home (39 per cent); Superannuation (20 per cent); Shares and other financial assets (19 per cent); Investments in other real estate (12 per cent); Other non-financial assets (10 per cent) ... The value of assets is skyrocketing at the moment, but incomes are hardly growing. So if you're lucky enough to own any assets (like a residential property, or superannuation savings), your wealth is likely increasing. But if you don't own any assets, you're missing out. ... when Credit Suisse released its annual Global Wealth Report 2021 ... Its report tracked global changes in wealth in 2020. Interestingly, it showed Australia is topping the global rankings for median wealth per adult, as measured in US dollars ($US238,070 per adult).
https://www.abc.net.au/news/2021-06-27/australian-household-weal…
# Australia, Home ownership, Landlords and agents.Why did the Miami apartment building collapse? And are others in danger?
Trivess Moore and David Oswald The Conversation (No paywall)It’s unclear at this stage why the building collapsed, but it has been speculated that it had been sinking over time, which may have contributed to the collapse. It’s likely the actual cause of the collapse won’t be known for months, if ever. Check out the later stories at: [https://www.smh.com.au/world/north-america/report-showed-major-damage-before-miami-condo-collapse-20210627-p584kc.html] and [https://www.smh.com.au/world/north-america/death-toll-in-miami-building-collapse-rises-as-search-teams-persevere-20210628-p584rh.html]
https://theconversation.com/why-did-the-miami-apartment-building…
# International, Housing market, Minimum habitability standards.The top 5 reasons why house prices keep going up and up
Caitlin Fitzsimmons The Sydney Morning Herald (Paywall)There are a few things in life that are quintessentially Australian – among them Vegemite, the Sydney Opera House and discussing the runaway property market. ... Hugh Hartigan, a senior adviser at the National Housing Finance and Investment Corporation, says housing serves two purposes: it’s a financial asset and provides shelter. Demand for shelter increases when the population rises, while demand for housing as a financial asset is heavily influenced by economic factors, particularly interest rates.
https://www.smh.com.au/business/the-economy/the-top-5-reasons-wh…
# Australia, Home ownership, Housing market, Planning and development, Tax, Welfare.5 key questions to ask a potential aged care home
Rachel Lane The Sydney Morning Herald (Paywall)Choosing an aged care home for yourself or a loved one can be overwhelming. Sadly, for many families, it is a decision undertaken in haste, with children often tasked with making a list of acceptable homes within a matter of days. [Read on]
https://www.smh.com.au/money/super-and-retirement/5-key-question…
# Australia, Federal Government, Housing market, Older people.Rents flatten after Government housing changes: Trade Me
Catherine Harris (No paywall)From New Zealand ... Rents came to a grinding halt in May, defying political predictions that changes to rental investment would send rents soaring. According to Trade Me's monthly rental index, the national median rent has remained static for the third consecutive month at $540 per week. It also remained unchanged from April in six regions: Auckland, Bay of Plenty, Canterbury, Southland, Wellington and Manawatū/Whanganui. Trade Me Property Sales director Gavin Lloyd said the flat-lining rents were interesting, given predictions that rents would rise due to Government changes to the housing market. (Stuff)
https://www.stuff.co.nz/business/125543691/rents-flatten-after-g…
# International, Rent, Housing market, Landlords and agents.Interest rates could rise: Economists warn home owners about higher repayments in 2022
Shane Wright and Jennifer Duke The Sydney Morning Herald (Paywall)Home buyers taking on huge loans to get into Australia’s property market could face higher mortgage repayments as early as November next year with the nation’s biggest lender predicting the Reserve Bank will hike rates much sooner than expected.
https://www.smh.com.au/politics/federal/interest-rates-could-ris…
# Australia, Home ownership, Housing market.Number of first home buyers doubles in WA, fanning hopes of rent relief
Peter de Kruijff The Sydney Morning Herald (Paywall)The number of first home buyers taking the plunge into the West Australian property market has doubled in the past year as aspiring home owners take advantage of COVID-19 stimulus grants. Property experts hope the increase in renters entering the home ownership market will provide relief for Perth’s tight rental market in the next six to 12 months.
https://www.smh.com.au/national/western-australia/number-of-firs…
# Australia, Rent, Home ownership, Housing affordability.