Tuesday, April 23, 2024

Tag: Rental crisis

Western Australia To Offer Airbnb Owners $10,000 To Rent To Long-Term Tenants

Short-term accommodation owners in Western Australia will be offered a $10,000 incentive to rent their properties to long-term tenants to boost housing supply.

Airbnb owners and other short-term rental accommodation providers will be offered nation-leading incentives of $10,000 to make their properties available to long-term tenants in Western Australia.

The scheme is part of a slew of changes introduced by the Labor government to boost housing supply and regulate the growing short-term rental market.

Community groups say the strategy could double the state’s rental housing supply.
Read the original article at theguardian.com

Australia Sleepwalks Into Calamitous Rental Crisis

The rental market in Australia has completely gone mad.

According to the most recent rental vacancy statistics from CoreLogic, PropTrack and SQM Research, Australia’s capital city vacancy rate fell to an all-time low of around 1.0% in September, with every market in Australia suffering exceptional tightness

The scarcity of available rental properties has pushed rental inflation to its highest level in decades, with PropTrack recording 12.2% growth in capital city rents in the year to September, driven by 18.2% growth in Sydney, 14.9% growth in Perth, and 13.6% growth in Melbourne

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.

Advocates Urge Government to ‘Seriously Consider’ Tiny Homes as Solution to Housing Crisis

Owning a home has always been a dream for Tabatha Wiezczorek, but with the price of housing across much of the country through the roof she’s now looking at something smaller — a tiny home.

Ms Wiezczorek grew up in Newcastle and for a few years she was sleeping rough, unable to afford rent.

“I was homeless, I’d been homeless for about two years,” she said.

“I thought Cessnock was pretty cheap and it wasn’t too far away from Newcastle.”

Ms Wiezczorek decided to relocate to Cessnock, about 50 kilometres west of Newcastle, about 10 years ago.

“When I came out here it was a lot cheaper. It was under $300 a week to rent a three-bedroom house, she said.

“There’s nothing decent here now under $400 a week.”

More social and affordable housing is the only solution to Australia’s rental crisis

A boost in social housing benefits everyone – people in housing stress get the homes they need and building new homes creates jobs and opportunities

For the first time, Australia is entering the new year with a prime minister who grew up in social housing.

Yet as Australians face a rise in living costs, soaring rents, and crashing vacancy rates, we are also bidding farewell to a key housing affordability measure.

The National Rental Affordability Scheme (NRAS) was designed to help working people who had been priced out of renting, allowing them to create a stable home for themselves and their family.

The scheme wasn’t perfect – it was based on incentives and payments to landlords – but its end will mean thousands of affordable homes will disappear with no plan for the people who were living in them. Renters leaving the scheme will enter a rental market with record low vacancy rates. Data released this week shows a 10% surge in rent prices across capital cities. Many won’t be eligible for social housing, and those who are will find that waiting lists are years long.

Housing Affordability: Would a Foreign Buyer Ban Make a Difference?

While home values have steadily retreated from their pandemic peak in recent months, they remain at near-record highs, posing an ongoing challenge for many Australians who want to own their own home.

In the September quarter of last year the national average home price sat at $889,800, data from the Australian Bureau of Statistics shows – 33% higher than in September 2019 ($668,800).

Joey Moloney, a senior associate at the Grattan Institute, says that the affordability of housing in Australia has been deteriorating for years though.

Read the full article at Money Magazine

How housing made rich Australians 50 per cent richer, leaving renters and the young behind

How housing made rich Australians 50 per cent richer, leaving renters and the young behind — and how to fix it

Compared to the rest of the world, income inequality is not particularly high in Australia, nor is it getting much worse — until you include housing.

Rising housing costs have dramatically widened the gap between what Australians on high and low incomes can afford. Rising home prices paired with plummeting rates of home-ownership are driving up wealth inequalities.

If we want to address inequality, we will have to fix housing.

Key points:

  • Housing is draining the incomes of the poor
  • Housing is driving wealth inequality
  • Housing is driving up capital income
  • Housing is creating a “Jane Austen world”
  • The Federal Government needs to fix taxation
  • Australia needs to build more houses

Read the original article at The Conversation

Australian house rentals smash new records

Australia’s rental market is heating up in a big way, with new data showing rental houses across the nation’s capital cities have witnessed a 3.4 per cent price increase over the final quarter of 2021.

According to Domain’s latest Quarterly Rent Report, this stark rise equates to a new set of record high prices in Australia.

It also means that 2021’s rental housing market witnessed an annual price growth of 7.4 per cent – the biggest yearly increase since 2009.

Queensland pensioners demanding government action on ‘unfair’ lifestyle village rent price hikes

Queensland pensioners living in lifestyle villages are demanding action from the government, following an extensive investigation into the multi-billion-dollar industry by 9News.

Residents claim park owners are unfairly jacking up their rents, while others allege big corporations are failing to honour their rental contracts.

“When you move into a village like this, you move in for retirement, you don’t move in to fight battles in QCAT or a court of law,” Paul Miller, a resident at Regal Waters in Bethania, said.

Read the original article on 9News.