Australia's almost a world leader in home building, so it won't fix affordability
8 years ago

Australia's almost a world leader in home building, so it won't fix affordability

ABC  

Politicians and the powerful property lobby continue to argue that building more houses is the solution to Australia's chronic affordability problems. Demand drives supply In a market-driven housing system, price stimulates new housing supply. First, demand-side measures need to be better targeted to stimulate investment in new supply, particularly affordable rental housing, rather than simply fuelling demand. A bigger community housing sector is the supply solution Australia really needs. Targeting supply to deliver housing for those on low incomes and reining in demand-side incentives that fuel prices will make some difference to affordability for those most affected.

Australia Supply Housing Market Price Affordability Deliver Housing Supply New Supply New Population Low Incomes Dwelling Completions  fix  world  housing  market  australia  price  supply  affordability  dwelling  completions  wont  leader  building  australias  population  deliver

History of this topic

How Australia's housing market spun out of control — and what we can do to fix it
3 weeks, 1 day ago

How Australia's housing market spun out of control — and what we can do to fix it

ABC  

Property investment is ingrained in the Australian psyche, but is it too easy to cast landlords as the villain in our housing crisis? The bank regulator, Australian Prudential Regulation Authority or APRA, under the leadership of Wayne Byres, threw cold water on another investor-led housing boom in the mid-2010s by using "macroprudential tools", such as limits on investor lending growth …

Housing Hostages: Australia in 2050
3 weeks, 6 days ago

Housing Hostages: Australia in 2050

ABC  

Sam Hawley: Imagine it's 2050 and the housing bubble in Australia never burst. Sam Hawley: Michael, we know the increasing cost of housing is causing enormous economic pain and really human hardship, let's face it. Michael Janda: Yeah, so Sam, it really makes us look like a lot of other developed countries, particularly ones that have expensive housing. Sam Hawley: …

Australia's rate of home building down by half from 1995: govt report
1 month, 2 weeks ago

Australia's rate of home building down by half from 1995: govt report

China Daily  

CANBERRA -- The rate at which Australia is building homes has fallen by half over the last 30 years, a government report has found. The report, which was released by the Productivity Commission on Monday, said that decades of falling productivity in residential construction has restricted housing supply in Australia and contributed to increasingly unaffordable housing. "If governments are serious …

Building up or out are potential solutions to Australia's housing crisis but both come with problems
1 month, 3 weeks ago

Building up or out are potential solutions to Australia's housing crisis but both come with problems

ABC  

Since the Shah family moved in 2007 to Melbourne's outer suburb of Tarneit, its population has increased eight-fold. In response to detailed questions, the Victorian government told 7.30 it's "working to get more homes off the ground faster in areas that have been locked up for far too long". "The missing middle is anything really between a suburban quarter acre, …

Australia's housing crisis is driven by lip-service, hypocrisy and an investment culture
1 month, 3 weeks ago

Australia's housing crisis is driven by lip-service, hypocrisy and an investment culture

ABC  

House prices never fall very much in Australia. We're going backwards It is now more than two years since Australia's governments, federal and state, met to do something about this crisis, and launched the National Housing Accord. An "aspirational target" of one million new, "well-located" homes over five years was set, which was upped to 1.2 million in August 2023 …

Alan Kohler investigates Australia’s housing crisis and what can be done to fix it
1 month, 3 weeks ago

Alan Kohler investigates Australia’s housing crisis and what can be done to fix it

ABC  

ALAN KOHLER, REPORTER: Australia’s housing crisis is the result of decades of failure by the nation’s political classes. ALAN KOHLER: It’s my view John Howard did more than anyone to make housing unaffordable through reforms like cutting capital gains tax in half. ALAN KOHLER: As day breaks, buyer’s agent Bianca Field is already helping Sydney residents find housing within that …

Australian home prices tipped to keep falling in early 2025
2 months, 3 weeks ago

Australian home prices tipped to keep falling in early 2025

ABC  

Australian home prices are set to keep falling in the first half of this year, according to a wide range of analysts, but they also expect the decline to be small and short-lived. "There are numerous signs of softening in the Australian property market," wrote AMP's chief economist Shane Oliver, before listing them: Auction clearance rates have cooled from their …

The housing affordability crisis is going global
3 months, 2 weeks ago

The housing affordability crisis is going global

Live Mint  

DUBLIN—When Mikey Cullen’s parents were in their early 20s, they earned enough as public-sector workers to buy a house in the city. Ireland, after years of anemic construction, now has the European Union’s most expensive housing, according to a broad measure of rent, maintenance costs and utilities by Eurostat, the European Union statistics agency. “When cities had housing shortages, if …

National house prices losing steam
3 months, 4 weeks ago

National house prices losing steam

ABC  

Nick Grimm: Housing prices rose nationally by 0.1% last month, but it looks like the market could be losing steam. Elizabeth Cramsie: Joe White is a real estate agent in Dunsborough in Western Australia. Elizabeth Cramsie: While rate cuts are expected at some point next year, he's not convinced it will bump up prices again. Elizabeth Cramsie: Real estate agent …

House prices rise just 0.1 per cent in weakest result since January 2023, CoreLogic data shows
3 months, 4 weeks ago

House prices rise just 0.1 per cent in weakest result since January 2023, CoreLogic data shows

ABC  

National home prices are losing momentum and anticipated interest rate cuts are unlikely to stop falls in house prices next year. New CoreLogic data shows house prices increased 0.1 per cent nationally in the last month of spring — the weakest Australia-wide result since January 2023. Brett D'Souza says he "made mistakes" when he tried to sell his home without …

Housing construction costs and completion times have blown out – can this be fixed?
4 months ago

Housing construction costs and completion times have blown out – can this be fixed?

ABC  

New data from the Australian Bureau of Statistics suggests that the Federal Government's 2020 HomeBuilder scheme helped to super charge demand for the construction sector, at a time when demand was already high with low interest rates. This, along with material and skills shortages, has helped to drive up construction costs, and ABS data shows that the time to complete …

How much house prices are predicted to go up by across the UK
Trending News
4 months, 3 weeks ago

How much house prices are predicted to go up by across the UK

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Here are Savills’ predictions for house price increases over the …

Why house prices are starting to fall
4 months, 3 weeks ago

Why house prices are starting to fall

ABC  

Sam Hawley: All focus this week will of course be on the US election and we'll be bringing you plenty of coverage. I mean, you know, what we've seen on a longer term perspective back, you know, I don't know, ever since I've been looking at it, you know, since the 60s or 70s, there's always been an ever increasing …

House prices are still rising, but CoreLogic data shows the property market is cooling off
4 months, 4 weeks ago

House prices are still rising, but CoreLogic data shows the property market is cooling off

ABC  

Australia's property market is showing further signs of a slowdown, with national house prices rising slightly in October as more home-owners and investors look to capitalise on the spring selling season. "For the past couple of years, they've had really strong population growth, strong jobs growth, and subsequently strong housing demand that has kept prices rising, even through interest rate …

The housing fight has made it to the streets. Now for the hard part.
5 months, 1 week ago

The housing fight has made it to the streets. Now for the hard part.

ABC  

Though it might feel like we've been stuck in the same housing debate forever, in the last two years there has been a quiet revolution. Victorian government announces 50 higher-density housing development zones across Melbourne Photo shows A train station The Victorian government announces plans for 50 higher-density development zones around train and tram stations in Melbourne to facilitate the …

Anthony Albanese's housing plan is falling apart as an immigration slowdown fails to solve the affordability crisis
5 months, 4 weeks ago

Anthony Albanese's housing plan is falling apart as an immigration slowdown fails to solve the affordability crisis

Daily Mail  

Anthony Albanese's plan to build 1.2million homes over five years is looking even shakier with building approval numbers now 30 per cent below what's needed. Anthony Albanese 's plan to build 1.2million homes over five years is looking even shakier with building approval numbers 30 per cent below what's needed House price growth over the year SYDNEY: Up 4.9 per …

In New Zealand, interest rates have started to fall. This is the impact on the housing market
6 months, 4 weeks ago

In New Zealand, interest rates have started to fall. This is the impact on the housing market

ABC  

Across the ditch, economists say New Zealanders can now see "the light at the end of the tunnel" of high interest rates after the country's central bank announced the first cut in more than four years and signalled more were on the way. "The first cut is the deepest, to quote Rod Stewart," ANZ chief economist in New Zealand Sharon …

Australian property prices remain resilient despite economic headwinds
8 months ago

Australian property prices remain resilient despite economic headwinds

ABC  

Australian house prices have risen for a sixth straight quarter, according to analysis by Domain. "The housing market remains resilient despite low consumer sentiment, economic pressures and high interest rates," Domain's chief of research and economics, Dr Nicola Powell said. "Supply still remains constrained overall, weighed against a surge in demand from strong population growth and a tight rental market," …

The upside-down map of Australia showing the grim reality of how much you really need to earn to afford a house
8 months, 1 week ago

The upside-down map of Australia showing the grim reality of how much you really need to earn to afford a house

Daily Mail  

Australia's cheapest major city is a long way from anywhere - inspiring an upside down map of the nation which has divided opinion. Darwin, Australia's most affordable capital city in the tropical Top End, still requires a six-figure salary for someone to be able to buy the median-priced house without being in mortgage stress. Sydney, Australia's most expensive market, requires …

Property Council of Australia report finds frontline workers are being priced out of the Queensland housing market
9 months, 1 week ago

Property Council of Australia report finds frontline workers are being priced out of the Queensland housing market

ABC  

They look after our children, take care of us when we’re sick, and educate the next generation. The Beyond Reach report has found affordable housing — where housing costs are 30 per cent or less of income — has "almost ceased to exist" for essential workers in south-east Queensland. "For dual income families with an average gross income of $150,000, …

International Housing Affordability Report: Sydney, Melbourne and Adelaide declared among the least affordable cities to buy a home
9 months, 2 weeks ago

International Housing Affordability Report: Sydney, Melbourne and Adelaide declared among the least affordable cities to buy a home

Daily Mail  

A leading economist fears more Aussies will delay or have fewer children and be cut off from employment options after Australia was declared one of most unaffordable housing markets in the English-speaking world. The grim prediction comes after the annual Demographia International Housing Report ranked Sydney as the second least affordable city to buy a home in the world. The …

Building approvals in Australia at decade lows — what does this mean for the housing crisis?
9 months, 3 weeks ago

Building approvals in Australia at decade lows — what does this mean for the housing crisis?

ABC  

Decade-low building approvals could spell disaster for the future of the Australian government's ambitious plans to tackle the worsening housing crisis, property experts say. Australian Housing and Urban Research Institute's Dr Michael Fotheringham said April's figures were in keeping with a broader trend in the country's struggling building sector. "That's not a helpful trend, given the broader lack of housing …

Top CEO Matt Barrie exposes the huge problem with Australia that's the 'root of all evil' - and why many young Aussies may have the same grim vision of their future
10 months ago

Top CEO Matt Barrie exposes the huge problem with Australia that's the 'root of all evil' - and why many young Aussies may have the same grim vision of their future

Daily Mail  

A top CEO has claimed the wildly expensive housing market that successive governments have let run out of control is the 'root of all evil' in Australia. Freelancer.com CEO Matt Barrie said the staggering increase in house prices has led to widespread ramifications for Aussies' finances and the way they view the world. Freelancer CEO Matt Barrie has taken aim …

Latest figures show huge change to Australia's property market compared with a year ago
10 months ago

Latest figures show huge change to Australia's property market compared with a year ago

Daily Mail  

Homeowners are becoming more confident about putting their properties on the market, with the latest figures showing 40 per cent more homes available than there were 12 months ago. The latest PropTrack listings report revealed the Aussie property market saw the strongest new listings for the month of April since 2021 'If we look in Sydney and Melbourne, the number …

A city in South Korea is offering small apartments for $11 a month. Why isn't Australia doing the same?
10 months, 1 week ago

A city in South Korea is offering small apartments for $11 a month. Why isn't Australia doing the same?

ABC  

In short: A new project in Seoul in South Korea is offering low-income student housing for $11 a month. Without significant government backing, Nightingale chief executive officer Dan McKenna said those working on the project were only doing what they could within a "broken" system. "One of the things that frustrates us, because the more units and communities we can …

Q+A YouGov poll shows just half the country believes budget makes them better off, but most back billions for industry
10 months, 1 week ago

Q+A YouGov poll shows just half the country believes budget makes them better off, but most back billions for industry

ABC  

In short: New polling shows many Australians are sceptical that cost of living relief in the federal budget will ease their financial burden, with young people the most disengaged. Just over half of Australians polled in exclusive research for Q+A believe the federal budget will leave them better off, with many sceptical the government can deliver secure and affordable housing. …

Australia's housing crisis in 10 graphs, from the federal budget
10 months, 2 weeks ago

Australia's housing crisis in 10 graphs, from the federal budget

ABC  

The Albanese government knows Australia has a housing problem. "Australia's housing system has been unable to build enough new housing stock to keep up with the needs of our population," it warns. Australia's housing supply is low by international standards The government has pointed out that Australia has fewer dwellings per 1,000 people than the OECD average. Supply shortages contribute …

Australia to miss target of 1.2 million new homes by 2029, according to State of the Housing System report
10 months, 4 weeks ago

Australia to miss target of 1.2 million new homes by 2029, according to State of the Housing System report

ABC  

In short: A deal through the National Housing Accord aims to build 1.2 million new homes by 2029. A deal through the National Housing Accord aims to build 1.2 million new homes by 2029. A deal through the National Housing Accord with federal, state and territory governments aims to build 1.2 million new homes by 2029. Australia's housing system 'far …

House prices have risen for the 15th month in a row. Here's what property values look like across the country
10 months, 4 weeks ago

House prices have risen for the 15th month in a row. Here's what property values look like across the country

ABC  

Australia's property market is showing no signs of slowing down, with data from CoreLogic showing property prices increased by 0.6 per cent in April. Here's how much property prices changed in each city in April: Sydney: Increase of 0.4 per cent Increase of 0.4 per cent Melbourne: Decrease of 0.1 per cent Decrease of 0.1 per cent Brisbane: Increase of …

Why Australia's housing crisis is expected to get even worse - and correcting it could take years
11 months, 1 week ago

Why Australia's housing crisis is expected to get even worse - and correcting it could take years

Daily Mail  

Australia's housing crisis will get worse before it gets better and the Albanese government is under growing pressure to do more to fix it in next month's budget, a new report says. A backlog of half-built home and stalls on new projects are projected to worsen Australia's housing crisis, experts say The economist wasn't confident the government's goal of building …

Has the great Australian dream of affordable home ownership turned to a nightmare?
11 months, 3 weeks ago

Has the great Australian dream of affordable home ownership turned to a nightmare?

ABC  

Almost everyone recognises the problem. A recent study by the US Federal Reserve Bank of Dallas found that while higher rates since 2021 had made life tougher for home buyers, affordability would have been even worse if rates hadn't risen because housing prices would have risen more. Since the turn of the century, lower interest rates have allowed home buyers …

The worrying graph that shows Australia is going the wrong way in building the 1.2million new homes it needs to solve the housing crisis
1 year ago

The worrying graph that shows Australia is going the wrong way in building the 1.2million new homes it needs to solve the housing crisis

Daily Mail  

A plunge in home approvals has cast severe doubt over the federal government's ambitious plan to build 1.2million homes in five years. Australia's new house approvals are slumping casting severe doubt over the federal government's promise to build 1.2milion homes in five years To meet the Albanese government's targets, 20,000 homes will need to be built every month from July …

As a new parliamentary year gets underway, the housing crisis remains a powerful vote driver
1 year, 1 month ago

As a new parliamentary year gets underway, the housing crisis remains a powerful vote driver

ABC  

Political momentum has ebbed and flowed in the first fortnight of parliament for the year. Amidst the parliamentary ping-pong between Labor's hard-sell of its tax cuts and the Coalition's alarm at convicted immigrants on the loose, it's become clear all sides are keeping a close eye on another issue which could prove to be a far more powerful vote driver: …

Alan Kohler exposes Australia's 'worst financial mistake' - and boomers are the ones benefiting
1 year, 1 month ago

Alan Kohler exposes Australia's 'worst financial mistake' - and boomers are the ones benefiting

Daily Mail  

This video is no longer available This video is no longer available The ABC's finance expert Alan Kohler has described the housing affordability crisis as Australia's worst ever financial mistake. Adelaide, he pointed out, is now Australia's second least affordable capital city when the state's average, full-time salary is compared to the city's median property price. In January, the median …

Property values have risen for 12 straight months. Here's how much prices have lifted or fallen in each capital city
1 year, 1 month ago

Property values have risen for 12 straight months. Here's how much prices have lifted or fallen in each capital city

ABC  

Three capital cities continue to power the national property market, with prices rising by 0.4 per cent in January to start off the new year. Brisbane Monthly change: 1 per cent increase 1 per cent increase Brisbane median house value: $888,628 $888,628 Median unit value: $568,595 It was the pockets on the outer fringe of Brisbane that recorded the biggest …

The WA government has tried many things to ease the housing crisis. Will any of them work?
1 year, 2 months ago

The WA government has tried many things to ease the housing crisis. Will any of them work?

ABC  

Ever since the housing headaches created during the early days of the COVID pandemic became apparent, the state government has made dozens of announcements about ideas meant to make things better. And that's why we're trying every initiative possible to release housing onto the market," an exasperated Treasurer Rita Saffioti said last week. "And what's happened in the last three …

What Anthony Albanese's cost of living 'relief' could mean for you: The five key areas the PM will need to focus on to help struggling Aussies in 2024
1 year, 2 months ago

What Anthony Albanese's cost of living 'relief' could mean for you: The five key areas the PM will need to focus on to help struggling Aussies in 2024

Daily Mail  

Everyday Australians are struggling with the rising cost of just about everything with groceries, mortgages, petrol prices and power bills among the driving concerns. Prime Minister Anthony Albanese used his first speech of 2024 to reassure the public that help is on the way - so long as it doesn't add inflationary pressure to the Budget bottom line and have …

Property values bounced back across Australia in 2023, but there are signs of slowing
1 year, 2 months ago

Property values bounced back across Australia in 2023, but there are signs of slowing

ABC  

Australian house and apartment values bounced back in 2023, increasing by 8.1 per cent nationally over 2023, according to new data. Key points: New data shows dwelling values rose nationally last year in comparison to 2022 Sydney remains the most expensive city to buy a property across the country Homes in capital cities increased significantly more than in regional areas …

It will take years to fix Australia's housing problems. But how long do you have?
1 year, 3 months ago

It will take years to fix Australia's housing problems. But how long do you have?

ABC  

For anyone trying to live with dignity in a tent or car right now, or struggling to cope in an awful private rental market, our housing crisis can't be fixed quickly enough. To start with, Australians were told in December 1943 of the federal government's plan to embark on an unprecedented home-building program after the war. Courier Mail's December 8, …

The National Housing Conference in Brisbane has wrapped. Experts say solving the housing crisis could take decades
1 year, 5 months ago

The National Housing Conference in Brisbane has wrapped. Experts say solving the housing crisis could take decades

ABC  

A national summit addressing the housing crisis has heard successive governments are to blame for getting Australians to this "flash point", and it could take up to 20 years to fix the problem. But while there was no "silver bullet" on offer, the three-day National Housing Conference in Brisbane ended with five possible solutions to find "a way forward" – …

Housing demand seems insatiable, but home builders are collapsing amid 'profitless boom'
1 year, 6 months ago

Housing demand seems insatiable, but home builders are collapsing amid 'profitless boom'

ABC  

Two major building companies have gone into liquidation in as many months in South Australia, leaving hundreds of home buyers in limbo, their unfinished properties left looking like ghost towns. A recent industry snapshot from the HIA reported that South Australia was "the only state to see an increase" in new home sales in July. Mr Malinauskas said data showed …

Where will these new homes be built? Here's what the government's new housing bill means for you
1 year, 6 months ago

Where will these new homes be built? Here's what the government's new housing bill means for you

ABC  

After months of negotiations, the federal government's key housing policy is set to pass parliament this week after brokering a deal with the Greens. The $10 billion Housing Australia Future Fund promises to build 30,000 new and affordable social homes in the fund's first five years. The 30,000 new homes includes 4,000 homes allocated to: women and children impacted by …

Australia's housing divide masks real interest rates pain
1 year, 6 months ago

Australia's housing divide masks real interest rates pain

ABC  

If it feels like we're in uncharted territory when it comes to keeping a roof over your head, you're right. So by splitting that line out into the different groups of people it represents, you can see that it's the increase in mortgage costs that has driven housing costs to record highs. If you only look at the typical housing …

Proptrack Housing Affordability Index: Australian cities which are least affordable to buy a house
1 year, 6 months ago

Proptrack Housing Affordability Index: Australian cities which are least affordable to buy a house

Daily Mail  

Housing affordability is at its worst level in three decades, with the average Australian household able to afford just 13 per cent of the market. The report found households earning the median income of about $105,000 can afford 13 per cent of all homes sold across the country in the last year - the lowest level since records began in …

Housing affordability at lowest level in 30 years, data shows
1 year, 6 months ago

Housing affordability at lowest level in 30 years, data shows

ABC  

In short: A report by real estate analysts PropTrack says servicing a mortgage is "close to as hard as it has ever been", where a household earning an average income "would need to spend a third of their income on mortgage repayments to buy a median-priced home" A report by real estate analysts PropTrack says servicing a mortgage is "close …

The charts that show how Australia’s rental market got so broken
1 year, 7 months ago

The charts that show how Australia’s rental market got so broken

ABC  

Sometimes, being a renter in Australia just plain sucks. CoreLogic's head of residential research Eliza Owen says in this "landlord's market", requests for homelessness services have been increasing every year since 2012. "Lower income households are more likely to be in the private rental market they're seeing much higher levels of incomes required to service rents," Owen says. "In the …

Australia's rental crisis prices out educators, nurses and aged care workers
1 year, 7 months ago

Australia's rental crisis prices out educators, nurses and aged care workers

ABC  

Australia would grind to a halt without essential workers but most can barely afford to put a roof over their heads. Key points: New research found some essential workers could only afford 0.9 per cent of rentals Rental stress will be a key issue at this week's cabinet meeting Rental vacancies remain low despite a record high number of homes …

National Cabinet is turning its attention to Australia's housing crisis — and an important shift could be coming
1 year, 7 months ago

National Cabinet is turning its attention to Australia's housing crisis — and an important shift could be coming

ABC  

A staple of debates about housing affordability in Australia over at least the last four decades has been lack of housing supply. It will consider both the rental market and housing supply in the broad, amidst continuing pressure from the Greens — who have been trying to leverage their refusal to support the government's housing fund to gain federal interventions …

Australia needs a national strategy to fix decades of poor housing policies, researchers say
1 year, 9 months ago

Australia needs a national strategy to fix decades of poor housing policies, researchers say

ABC  

Australia needs a genuine national housing strategy to make adequate housing available for everyone in the country, researchers have argued. Key points: We need an ambitious national project to fix Australia's housing, researchers say Housing Australia should be the lead agency driving the national strategy The goal is to provide adequate housing for everyone We need an ambitious national project …

Reality bites for thousands of Australians living in housing stress
1 year, 10 months ago

Reality bites for thousands of Australians living in housing stress

ABC  

When Sylvia Massara's marriage broke down, she moved out of the family home and into a rental. Rent set to go up 10 per cent at Sylvia's charity-run housing estate Each year the property manager of the housing estate Ms Massara lives in raises the annual lease fee on par with inflation – which should be around 7 per cent …

Discover Related