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 South Australia was "leading the nation when it comes to new home sales". "And that's data that's been released on the back of the state government abolishing stamp duty for new home builds in this state," he said. While the HIA expects the demand for new home construction to decline significantly next year, Mr Knight said the federal government's new Housing Australia Future Fund would help the industry in the long term.

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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 …

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 …

Costs, labour shortages, and competition drive a decline in housing development
5 months, 3 weeks ago

Costs, labour shortages, and competition drive a decline in housing development

ABC  

High construction costs and labour shortages is causing approvals for new dwellings to fall across Australia, according to housing experts. "Construction costs have risen by more than 30 per cent over the past four to five years, so that in itself has really compressed profit margins," he said. The data showed approvals for detached homes have risen by 0.5 per …

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 …

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 …

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 …

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 …

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 …

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 …

No end to the 'property cyclone' as construction costs keep rising and more builders head into insolvency
11 months, 3 weeks ago

No end to the 'property cyclone' as construction costs keep rising and more builders head into insolvency

ABC  

Alyssa Luc and her partner Xuan Tri Mai are among many Australians who wish they hadn't rushed into building a home. "We need a lot more corporate regulation around directors that trade — the building companies — that know they can't pay the bills, or they're insolvent," Mr Satterley says. Mr Duggan says there's been a 40 per cent increase …

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 …

Regional towns consider high-rise plans to ease housing crisis in the bush and on the coast
1 year, 1 month ago

Regional towns consider high-rise plans to ease housing crisis in the bush and on the coast

ABC  

In a small coastal town popular with foodies and sea-changers, locals are grappling with a tall question that could change the character of their growing hamlet: how high is too high? Median house prices have risen by a "staggering" 54 per cent in three years, according to the Regional Australia Institute, and the rental vacancy rate is at a near-record …

High demand for apartments but not enough builders to construct them, PRD research finds
1 year, 6 months ago

High demand for apartments but not enough builders to construct them, PRD research finds

ABC  

Demand for apartments is so high in Australia that there are not enough builders to construct them, according to data from a national real estate firm. "Basically all of those nuts and bolts that you would need to actually make an apartment go up," Dr Mardiasmo said. "It's coming in at about a billion dollars a fortnight, and we're taking …

The construction industry's builder collapse crisis is easing, but victims still bear the cost
1 year, 7 months ago

The construction industry's builder collapse crisis is easing, but victims still bear the cost

ABC  

Sarthak Kanwar thought his family would be one of the first to move into their new estate. "We thought, 'let's have a house of our own which we can decorate and which our child can cherish and have happy memories in'," Mr Kanwar says of he and his wife's decision to build. While we are still seeing builders going bust …

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 …

Building industry says SA budget stamp duty measures come at 'right time' as demand for house builds fall
1 year, 9 months ago

Building industry says SA budget stamp duty measures come at 'right time' as demand for house builds fall

ABC  

The South Australian building industry says the state government's budget stamp duty measures have come at the right time as demand for new house builds drops amid cost of living pressures. Key points: Premier Peter Malinauskas said the stamp duty initiative would benefit people entering trade apprentices SA's building industry says the announcement has come at the right time and …

New South Wales rental crisis could worsen as building approvals slump to record lows, economist warns
1 year, 10 months ago

New South Wales rental crisis could worsen as building approvals slump to record lows, economist warns

ABC  

The rental crisis could worsen across New South Wales after building approvals dropped to their lowest levels in a decade, a housing industry economist has warned. Key points: NSW building approvals fell by 34 per cent compared to the same quarter last year Approvals for townhouses, units and high-rises dropped to 50 per cent A housing economist says the weak …

More Australians forced out of homes as rental housing affordability crisis rages on, Anglicare report shows
1 year, 11 months ago

More Australians forced out of homes as rental housing affordability crisis rages on, Anglicare report shows

ABC  

At the age of 58, Dawn Dowling never thought she'd be stuck packing her belongings into storage and moving in with a friend. Key points: Anglicare's annual rental affordability snapshot was published on Thursday It examined how many properties were affordable for 14 different types of households There are calls for the government to use legislation to ease the crisis …

It's touted as one solution to Australia's housing crisis, but what is build-to-rent? And can it live up to the hype?
1 year, 11 months ago

It's touted as one solution to Australia's housing crisis, but what is build-to-rent? And can it live up to the hype?

ABC  

Australia is in the grip of a housing crisis, hit by rising rents and falling vacancy rates. A newly released Ernest & Young report, commissioned by the Property Council of Australia, says that support for build-to-rent housing could result in an additional 150,000 homes over the next 10 years. "To offer more housing choices and affordable options to Australians, we …

Has Australia's housing boom hit the end of the road and could it take the economy down with it?
2 years, 2 months ago

Has Australia's housing boom hit the end of the road and could it take the economy down with it?

ABC  

While Argentina may have dispatched Australia to go on and win football's World Cup, there is one kicking contest where we are undisputed world leaders – that's economic can kicking. Many fixed mortgage rates were below 2 per cent, some for terms as long as four years, and the Reserve Bank governor had said repeatedly that rates were unlikely to …

Australian housing values were down 5.3 per cent in 2022. Here's what's happening in your area
2 years, 2 months ago

Australian housing values were down 5.3 per cent in 2022. Here's what's happening in your area

ABC  

Australian housing prices were down 5.3 per cent over 2022, marking the first time housing values have fallen over the calendar year since 2018. Regional South Australia was the stand-out for growth conditions with values up 17.1 per cent through 2022, while regional markets in NSW and Victoria both saw annual falls. Queensland Queensland saw mixed results with its housing …

What Australia's housing market has been doing over the past year
2 years, 3 months ago

What Australia's housing market has been doing over the past year

ABC  

Few sectors of the economy are as sensitive to interest rates as the property market. The fall in national values was largely driven by capital city dwelling values dropping 5.2 per cent, while regional dwelling values rose 3.3 per cent over the same period, CoreLogic figures show. Economist Maree Kilroy expects further rate hikes in early 2023, with the cash …

Homemaking: What’s the value of Australian housing?
2 years, 6 months ago

Homemaking: What’s the value of Australian housing?

ABC  

We’ve got a challenge for you. Susan Smith’s work with colleagues in the United Kingdom shows how housing markets are made by real estate professionals “who lubricate the flow of information between buyers and sellers”. Laurence Murphy has shown, what looks like a technical, objective and rational calculation of housing market value by a property valuer or real estate agent, …

Building industry labour shortages lead to costly project delays
2 years, 7 months ago

Building industry labour shortages lead to costly project delays

ABC  

South Australia's building industry continues to grapple with major labour and supply shortages which have led to delays in major infrastructure projects and first home builds. Key points: The Master Builders Association of SA said building companies aren't facing insolvency yet Shortages of supplies and workers are causing delays on new home builds and other big infrastructure projects Tradies in …

The housing market seems out of control. But there are lots of things we could do
2 years, 7 months ago

The housing market seems out of control. But there are lots of things we could do

ABC  

I am dumber than our house. If you own a house, higher property prices may make you feel richer even though it's difficult to "realise" that profit. Even though there are thousands of housing markets across Australia — and prices can swing markedly even within small suburbs — most have risen at a consistent rate in recent decades. With two-thirds …

South Australia's public housing shortage worsens, as number of people on waiting list reaches 17,000
2 years, 8 months ago

South Australia's public housing shortage worsens, as number of people on waiting list reaches 17,000

ABC  

Work has began on the first stages of the South Australian government's plan to build 400 new public houses as advocates say the housing shortage is worsening by the day. Key points: In South Australia, 17,000 people are on the waiting list for public housing The state government has signed contracts to build 44 new homes It's part of a …

Two more Australian building firms suddenly collapse
2 years, 8 months ago

Two more Australian building firms suddenly collapse

Daily Mail  

Two more Australian building companies have collapsed with millions of dollars in projects abruptly stopped and homeowners left in the dark. Two more Australian building companies have collapsed with millions of dollars in projects abruptly stopped and homeowners left in the dark - including a father-of-two's home Victorian firms Wulfrun Construction and Westernpoint Construction Pty Ltd both went into liquidation …

Perth housing blocks now the smallest in the country amid strong demand for new homes
2 years, 9 months ago

Perth housing blocks now the smallest in the country amid strong demand for new homes

ABC  

The average block of land for new homes in Perth is just 399 square metres, the smallest in the country, but the houses are not shrinking as fast. Data from the Australian Bureau of Statistics shows that the average size of blocks of land for new homes has been steadily shrinking around the country for the past decade, and Perth …

Australia's housing crisis could be tackled by taking inspiration from Scotland, industry leaders say
2 years, 10 months ago

Australia's housing crisis could be tackled by taking inspiration from Scotland, industry leaders say

ABC  

The next federal government is being urged to look to the northern hemisphere for possible solutions to Australia's housing and rental crises. Key points: The federal government has been urged to create a national plan to fix Australia's housing crisis Industry leaders warn clear targets are needed around the provision of affordable homes Scotland's housing policy is considered a credible …

Do politicians even want to revive the Australian dream of home ownership?
2 years, 10 months ago

Do politicians even want to revive the Australian dream of home ownership?

ABC  

Who should we believe? "The 1940s to 1970s era generated the 'Australian dream', with home ownership levels reaching in excess of 70 per cent," it said. Well, the researchers said the declining rate of home ownership among millennials and younger age groups would guarantee that Australia's historically-high rate of home ownership would drop away. It said policymakers had put Australia …

Home Innovation Builders collapses is the latest construction company to collapse in Australia
2 years, 11 months ago

Home Innovation Builders collapses is the latest construction company to collapse in Australia

Daily Mail  

Australian building companies are going bust in the face of rising costs, with two Perth construction firms going under just days apart. Rising costs are also believed to have fuelled the collapse of major construction firm ProBuild, as the company owed $14 million to workers for its doomed 443 Queen Street project in Brisbane. Master Builders Victoria chief executive Rebecca …

Fears more builders will go bust as Queensland floods cripple supplies and prompt price hike
2 years, 11 months ago

Fears more builders will go bust as Queensland floods cripple supplies and prompt price hike

ABC  

Brisbane builder Chris Munro bluntly sums up the challenge facing Queensland's construction industry in the wake of the worst flooding in a decade. Key points: Builders have been hit hard by an increase in the price of materials while they work on fixed-price contracts Many describe the situation as a 'profitless boom' Several large building firms have collapsed in the …

Regional housing is in crisis, but will the next government have any answers?
2 years, 11 months ago

Regional housing is in crisis, but will the next government have any answers?

ABC  

Something very unusual happened in February — buying a home in Sydney actually became cheaper. In the last week, both the Coalition and Labor have announced similar loan guarantee policies for people fighting their way onto the property ladder with 10,000 regional home buyers having the option of buying with a five per cent deposit. He said one major reason …

Here's how Australia's housing market was reshaped by the pandemic
3 years ago

Here's how Australia's housing market was reshaped by the pandemic

ABC  

Australia's housing market has been reshaped dramatically by the pandemic. Key points: Historically low interest rates caused property prices to surge New million-dollar markets were created in areas like the Sunshine Coast, Gold Coast and Illawarra The ratio of housing-debt-to-household-income hit a record high 140.5 per cent The decision to close our cities at the start of the pandemic, to …

Australian house prices keep growing but Sydney posts first fall in 17 months
3 years ago

Australian house prices keep growing but Sydney posts first fall in 17 months

ABC  

Australian property prices continued to race upwards last month, but the nation's two biggest cities have started lagging well behind. Key points: Home values rose 0.6 per cent nationally in February according to CoreLogic Brisbane, regional and Adelaide had the biggest increases Sydney prices fell for the first time in 17 months with Melbourne values flat For the first time …

Rental price increases in South Australia making housing unaffordable for jobseekers
3 years, 1 month ago

Rental price increases in South Australia making housing unaffordable for jobseekers

ABC  

A rental housing crisis is affecting some of SA's most vulnerable people, with low-income earners facing significant financial stress, according to the South Australian Council of Social Service. Key points: Data shows the average rental price in SA rose by 7.2 per cent last year The rise outstripped increases in the JobSeeker allowance The South Australian Council of Social Service …

Rental Affordability Index reveals the cost of rent now skyrocketing in some Queensland regions
3 years, 4 months ago

Rental Affordability Index reveals the cost of rent now skyrocketing in some Queensland regions

ABC  

A Sunshine Coast family forced to live out of a caravan are among thousands feeling the brunt of a rental market experts believe is "approaching the point of catastrophe." Key points: Rental Affordability Index creator Adrian Pisarski says there is a "perfect storm" in the Queensland housing market He warns the situation will get worse without government intervention An estimated …

First home buyers hit with 'emotional rollercoaster' trying to break into sky-high property market
3 years, 5 months ago

First home buyers hit with 'emotional rollercoaster' trying to break into sky-high property market

ABC  

For over a year, Brisbane couple Eve Anderson and Jordan Roberts have spent every weekend at back-to-back open homes. Property prices outstripping wages The couple are among thousands of first home buyers competing with cashed-up investors and owner-occupiers in a housing market that's running red hot across the country. "You need a return on investment because it's not your forever …

Greater Sydney has 'housing supply crisis' as report warns prices will continue to surge
3 years, 9 months ago

Greater Sydney has 'housing supply crisis' as report warns prices will continue to surge

ABC  

Greater Sydney's eye-watering house prices have surged this year with a new report warning there will be more rises on the way. Key points: 42,000 homes will need to built every year to meet the demand NSW will build 2,700 homes in the next three years Rezoned suburbs include Glenfield, Leppington, Willow Town Centre and Lowes Creek Maryland The Urban …

Nearly two-thirds of Australians think home ownership won't be an option for young people as property prices rise
3 years, 9 months ago

Nearly two-thirds of Australians think home ownership won't be an option for young people as property prices rise

ABC  

Stephen Green hopes to buy a home for his family of four, but that dream has so far proven elusive. Key points: The Australia Talks survey found 65 per cent of us think owning a home isn't really an option for most young Australians anymore The Australia Talks survey found 65 per cent of us think owning a home isn't …

House prices in Australia are soaring, but not because there aren't enough homes
3 years, 11 months ago

House prices in Australia are soaring, but not because there aren't enough homes

ABC  

It's tempting to think home prices are soaring because there aren't enough homes. That's 12 per cent of our houses and apartments empty — used as holiday homes and second homes, or waiting for tenants. We're chipping away at Menzies's legacy From when Robert Menzies stepped down as prime minister in 1966 until the end of the 20th century, about …

Australian property prices post biggest monthly gain in 17 years
4 years ago

Australian property prices post biggest monthly gain in 17 years

Al Jazeera  

Australia’s housing market is booming again, with the biggest monthly price gain in 17 years dispelling fears of a Covid-induced downturn. The rapid gains have been “spurred on by a combination of record-low mortgage rates, improving economic conditions, government incentives and low advertised supply levels.” While housing prices are surging from Singapore to Canada and the U.S., a return to …

Experts say this is what Australia needs to do to solve the housing crisis
4 years, 1 month ago

Experts say this is what Australia needs to do to solve the housing crisis

ABC  

What can we do with Australia's property market, with soaring prices and rental shortages in many regional areas of Australia, from WA's Pilbara to Hobart in Tasmania? Key points: Experts warn housing inequality and intergenerational poverty is increasing in Australia They say urgent action is needed to mitigate the COVID-led crisis in housing There are calls for a national housing …

Lack of affordable housing leaving more people homeless in regional South Australia
4 years, 1 month ago

Lack of affordable housing leaving more people homeless in regional South Australia

ABC  

Huge waiting lists for social and community housing are leading to more people sleeping rough in regional South Australia. Key points: Requests for emergency accommodation have increased by 30 per cent in recent months Mount Gambier City Council will advocate for more funding for social and community housing Homelessness is expected to increase by 4.6 per cent in South East …

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