Wednesday, April 24, 2024

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Australia’s Housing Crisis Has Become A Fierce Political Battle

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We Need A Different Conversation About Australia’s Housing Supply

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Australian Housing Crisis: Full-Time Workers Forced Into Homelessness

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Shock Sum Parents Need To Give Their Kids To Buy First Home

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27 Million Milestone Stirs ‘Population Panic’

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The Future Of Housing In Australia Is Apartments. Lots And Lots Of Apartments

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We Need A Different Conversation About Australia’s Housing Supply

housing

Australian Housing Crisis: Full-Time Workers Forced Into Homelessness

housing

Shock Sum Parents Need To Give Their Kids To Buy First Home

housing
Australia's Housing Crisis Has Become A Fierce Political Battle
Australia’s Housing Crisis Has Become A Fierce Political Battle
We need a different conversation about Australia’s housing supply
We Need A Different Conversation About Australia’s Housing Supply
Australian housing crisis: Full-time workers forced into homelessness
Australian Housing Crisis: Full-Time Workers Forced Into Homelessness
Shock sum parents need to give their kids to buy first home
Shock Sum Parents Need To Give Their Kids To Buy First Home

‘Whole Housing System In Crisis’: Report Finds Australia’s Emergency Accommodation Is Often Unsafe

Study finds lack of available social housing and unaffordable private rentals mean people entering crisis accommodation have no pathways out

Emergency accommodation is often unsafe, inappropriate, of poor quality and compounds the trauma of people experiencing housing crisis, a new report has found.

The lack of available social and affordable housing coupled with inaccessible and unaffordable private rentals meant that most people who entered crisis accommodation had no meaningful pathways out.

Demand for emergency housing was also vastly outstripping supply, which meant services were resorting to acquiring unsuitable and often unsafe short-term accommodation, such as in rooming houses, hostels, motels and caravan parks.

Read the original article at The Guardian

Australian Housing Crisis: Nation to fall more than 60,000 short of target in first year: HIA

Australia is on track to fall more than 60,000 new homes short of the 240,000 total needed in the first year of an ambitious new housing affordability crisis-busting program.

And a leading economist has warned to get the numbers up state governments will need to encourage foreign investors, reconsider property taxes and slash planning timelines.

The Housing Industry Association’s National Outlook released today forecasts just 178,839 new apartments, townhouses, units and houses will be built next year.

In 2025 the projections suggest only 195,105 homes will be added to the nation’s housing supply.

Read the original article at news.com.au

1 In 2 Young People Are Being Turned Away From Accessing Crisis Housing Accomodation

In the midst of a housing and cost of living crisis young people are finding it increasingly harder to find a place to call home.

TikToks capturing hordes of people inspecting (most likely) mould speckled homes on the weekends and conversations of significant rent hikes have become fixtures of what it means to be a young person right now, and for some, things can only be spread so thin before it crumbles.

This week marks National Homelessness Week, and has prompted the NSW Government to reaffirm its plan to drive down homelessness across the state.

A Four-Step Housing Solution

We have a shortage of homes in Australia. There are four steps governments can take to improve supply and ease the pressure.

After decades of debate, all political parties and agencies recognise that there is an acute shortage of housing. This is partially due to an underbuild in the previous decades, a shift toward lower density through the pandemic and strong population growth. The shortage of housing stock has reached such an acute level that all tiers of government are focused on addressing the problem.

When the National Housing Finance and Investment Corporation (NHFIC) released its State of the Nation’s Housing Report 2022-23 in April, it was a significant moment for policymakers. The report’s findings indicate that all levels of government have failed to deliver an adequate supply of homes for Australians. Until then, they failed to recognise the depth of the problem.

The Australian Government’s goal to build one million homes over the next five years is achievable, but even this volume of new homes won’t resolve the shortage. The challenge for them is how to achieve this laudable goal. The following are four necessary steps to increase the supply of new homes.

Political Wrangling Over Housing, Rent Freezes Risks Dire Consequences

A political stand-off over rent freezes and the Federal Government’s housing fund could have huge consequences for a generation of renters and property investors.

The most talked about aspect of the current housing crisis throughout Australia is its impact on the rental market.

The pandemic created approximately 120,000 extra households in Australia, where children left home to migrate to areas of employment, downsizers separated from their family group and migrated to various parts of Australia and, sadly, increases in divorce and the like very quickly created a significant need for additional households.

On top of that, many regions that were the recipients of large interstate migration saw those migrators first needing a rental property as they considered their purchase options.

Coinciding with the increased demand for rentals, there was a reasonably large pool of investors contacted by real estate agents submitting huge offers sight unseen by owner occupiers looking to purchase properties. Many who had previously no thoughts of selling, couldn’t resist taking those sale prices.

Michael Pascoe: “I’ve Found the Missing Housing – Half a Century’s Worth”

You know all the handwringing about the housing crisis, the claims that “it’s complicated” and that “there’s no silver bullet” and the broad resignation of not having a solution?

Well, I’ve found the missing housing and know what the real solution is – if any government cares.

We’ve arrived at the present housing disaster rather like the Hemingway character explaining how he went bankrupt: “Two ways. Gradually and then suddenly.”

The “gradual” part of the crisis started half a century ago when governments began to withdraw from providing public housing.

That gradual withdrawal turned into a speedy exit since the turn of the century, finally disastrously exploding under the cover of COVID as the nation found itself with a critical shortage of accommodation and an unsustainable model of housing prices forever dramatically rising.

Read the original article at TND

Aussie House Prices Shift Onto Slow Track

It is commonly stated that it takes seven to ten years for property values to double.

However, according to analysis from PropTrack, the typical Australia took 15.4 years to double in value through May 2023.

PropTrack director economic research Cameron Kusher also noted that macroprudential regulations such as serviceability buffers have also reduced access to finance in recent years while keeping price growth in check.

“Rising interest rates and much higher prices, along with other economic and demographic factors, will weigh on the prospects of prices
doubling in the future”.

Kusher is right: Australian home values should rise at a much slower rate over the coming decade and beyond.

Converting Offices to Apartments: Theory vs. Reality

Converting Office Buildings into Apartments: A Solution to Australia’s Housing Crisis?

Australia is currently facing a housing crisis, with skyrocketing prices and a shortage of affordable housing. At the same time, the pandemic has caused a shift in the workplace, leaving many office buildings in major cities underused. As a result, the idea of converting these offices into apartments has been floated as a potential solution. While this is not a new idea, it has been done before in Australia, and it is a hot topic of discussion at the World Economic Forum.

Continue reading at www.globalvillagespace.com

One-In-Six Australians Live In Apartments & Townhouses

  • A new report found up to 26% of Australians could be living in strata-titled properties
  • There has been a 7% growth of strata-titled properties in the last two years
  • This reflects both government policies and people’s current preferences

At least one in six Australians are living in strata titled properties such as apartments and townhouses and there’s been a 7% growth in the number of properties in the last two years, according to a new report from the University of New South Wales.

Professor Hazel Easthope, who led the research project team at UNSW, says both Australia and New Zealand have seen rapid growth in strata-titled dwellings in the last two years.

She adds strata-title property ownership began in Australia in the 1960s and has since become an important feature of the housing landscape across Australia.

Young Aussie Calls Out Major Housing Myth Spread By Baby Boomers

A young influencer is challenging baby boomers who suggest ‘lazy young people sipping lattes’ could buy a house like they did 40 years ago.

Jack Toohey has made A video breaking down the differences between buying a home in 1983 and 2023.

Baby boomers are often fond of reminding the young how they paid 18 per cent interest rates in the 1980s, but they fail to mention that typical house price compared with average incomes were significantly cheaper when they bought four decades ago.

Toohey has demolished their misleading claims and misinformation with facts and figures comparing real estate values and earnings.

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