Despite tens of billions of dollars being spent to address Australia’s crippling housing crisis, a top economist has delivered a stark assessment of how long it will take to turn the tide. And it’s not good news for those battling skyrocketing rents and runaway home prices. On top of that,Continue Reading
It’s time to have an honest conversation about the housing crisis – because it’s not going to get better anytime soon. If you don’t believe me – take a look at the latest stats from the Australian Bureau of Statistics. In March, only 12,500 homes were approved for construction. That’sContinue Reading
A call to ban no-ground evictions in Western Australia has failed to pass through parliament, making the state and the Northern Territory the only jurisdictions in Australia where landlords can evict tenants without a good reason. Renters and housing advocates took to the steps outside Parliament House in Perth toContinue Reading
New home starts have plunged to the lowest level in more than a decade, as constrained conditions in the building industry and elevated interest rates crunch the construction of new housing. Work commenced on just 163,836 new homes during 2023, down 6.4 per cent on the year prior, the AustralianContinue Reading
The NSW anti-corruption watchdog has cleared a senior public servant at the centre of allegations which suggested she used insider information to purchase a $3.8m home in a Sydney suburb earmarked for high density developments. Under parliamentary privilege, Katie Joyner – who is a director at the Department of Planning,Continue Reading
Foreign investors who buy homes in Australia only to leave them empty will face a massive new tax hike, in a bid to ease the nation’s ongoing rental crisis. On Sunday, Treasurer Jim Chalmers will unveil the package, first reported by The Sunday Telegraph. As it currently stands, overseas investorsContinue Reading
A senior bureaucrat has rubbished the claims made by a former police deputy commissioner around modelling which led to the government blocking housing development on high-risk flood plains in Western Sydney. Last Sunday, the NSW government announced areas of the North West Growth Corridor would be rezoned, preventing the constructionContinue Reading
A Greens lord mayoral candidate has pledged a $40 million plan which will see Brisbane City Council “pay the rent” through grants to Indigenous organisations. Former councillor Jonathan Sriranganathan launched his bid for the top job on Sunday, taking on incumbent LNP Lord Mayor Adrian Schrinner and Labor’s Tracey PriceContinue Reading
The woes of debt-ridden Chinese property giant Evergrande just got a whole lot worse after 87 per cent of its market value was wiped away in less than a month. Of that, 25 per cent was lost in a single day, on Monday local time, following some bad news forContinue Reading
Victorian Premier Daniel Andrews has clashed with a reporter over his government’s “modest” 7.5 per cent Airbnb tax that has sparked furious backlash from the short-stay accommodation industry. “How can you say it’s a modest charge when it’s the highest short-stay tax in the world?” Mr Andrews was asked atContinue Reading