A leading analyst has revealed the impact a feared interest rate rise would have on Australia’s property markets, declaring “some cracks are already showing”. The monthly measure of inflation for the year to May, released last week, hit four per cent, which was above expectations and marked the highest rateContinue Reading
A stark summary of what life is like for young adults in Australia these days amid the soaring cost-of-living, housing crises and economic inequality has gone viral. A sharp and to-the-point assessment of the “extremely difficult” situation facing Millennials, delivered by Russel Howcroft, an advertising guru and panellist on theContinue Reading
Despite building and selling-out 17 designer apartment complexes, with more than a dozen other major projects on the way, developer Nightingale hasn’t made a single red cent. And Dan McKenna, the organisation’s chief executive, thinks the unconventional model could help address Australia’s crippling housing crisis. “In a nutshell, we’re aContinue Reading
Tens of thousands of new homes being built in urban sprawl corridors of Australia’s biggest cities are so cramped that you couldn’t actually swing a cat between them. Generally speaking, mega housing estates on the fringes of our capitals are covered by planning rules that allow detached dwellings to beContinue Reading
The typical Australian who might’ve once bought a home a few generations ago is now much more likely to rent thanks to plunging housing affordability, which is now at its worst level in more than 20 years.And they’re flooding rental markets that are beyond capacity, competing with low-income and vulnerableContinue Reading
Stark forecasts for home prices across the country are tipping mammoth growth in the next three years, according to a leading economics firm. House prices in Sydney are predicted to reach an average of nearly $2 million by 2027, thanks to anticipated rate cuts and a supply shortage, research byContinue Reading
A depressing map revealing the least affordable housing markets in the world includes three Australian entries, with one city ranked second-worst globally. The illustration uses the latest data from Demographia examining 94 major housing markets across eight countries to compare affordability in some of the world’s biggest economies. It dividesContinue Reading
A leading Sydney mayor has described Chris Minns as a “dictator” and “bully” for threatening to go “nuclear” on councils who oppose his major housing reforms. In an exclusive sit-down with news.com.au, New South Wales Premier Mr Minns warned the skyrocketing cost of rents and ever-rising home prices had forcedContinue Reading
A leading economist has proposed a bold plan to finally solve Australia’s housing woes – and a country nearby has done something similar with great success. Cameron Murray, chief economist at Fresh Economic Thinking and author of the new book The Great Housing Hijack, said the model doesn’t need toContinue Reading
The Greens will go to the next election promising to scrap tax handouts and invest billions of dollars for a public property developer to build homes to plug critical housing gaps for renters and first-home buyers. Against a backdrop of a housing battle with Labor over the government’s shared equityContinue Reading