A significant percentage of Australians are experiencing housing stress amid a sharp growth in rents and interest rates, according to new research. The national housing campaign Everybody’s Home, launched by a coalition of housing, homelessness, and welfare organisations has released a report (pdf) revealing the impact of the housing crisis on the community. The report,…
Homeowners, Renters Struggling With Housing Stress: Research
July 24, 2023
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Home Building Set to Grind to a Halt With New Red Tape, Housing Pressures Continue
July 23, 2023
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Commentary No one wants anyone to be living in substandard conditions, and we all want the disabled to live full lives, but how far can we go in making this possible? The National Construction Code (NCC) has taken it one step too far. It will result in less affordable houses, and insoluble design issues, even making certain…
ANALYSIS: How to Improve Housing Affordability by Motivating Developers
Alleviating Canada’s housing affordability crisis revolves around increasing the supply of homes. But with Ontario’s environment of rising interest rates, labour shortages, high input costs, and even inter-provincial migration out of the bigger cities, analysts are suggesting solutions range from incentives for developers and builders to re-thinking land-use policies. Ontario has a goal of building…
Hybrid Work Trend May Crash Commercial Real Estate Values By 2030, Says McKinsey
July 15, 2023
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
Worst Case Scenario: Hybrid Work Trends May Result in Office Space Demand Falling 38 Percent by 2030, Says McKinsey
July 15, 2023
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
Victorians to Bear Australia’ Heaviest Property Taxes
Victorian homeowners will be hit with the heaviest property tax in Australia from the 2023-2024 financial year onward as the state Labor government carries out its COVID-19 debt repayment plan. According to a new report by the Victorian Parliamentary Budget Office, Victorians will need to pay an estimated property tax (land transfer duty plus land tax)…
NSW Proposes Rent Increase Limits in System ‘Rebalance’
Forcing landlords to explain above-inflation rent increases is among radical changes to the New South Wales (NSW) rental market being floated by the government. A discussion paper released on Friday proposes measures beyond the Minns government’s promised rental reforms to end no-grounds evictions, allow more pets in rentals and introduce a portal bond scheme. Among…
No to San Francisco: Greens Plan Knocked Back as Labor Minister Rejects Rent Controls
June 29, 2023
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The New South Wales (NSW) Housing Minister Rose Jackson has become the first Labor state minister to swat down the left-wing Greens’ campaign for Australia to adopt rent controls to deal with its housing crisis. On June 27, federal Greens housing spokesperson, Max Chandler-Mather, reiterated his party’s position citing San Francisco as an example Australian…
What Could Be in Store for Canadian Home Prices
June 28, 2023
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Canada’s housing market has good reason to be rising despite 4.5 percentage points of Bank of Canada interest rate hikes since March last year. But policy-makers are taking steps to contain risks stemming from the housing market and analysts expect prices to start dropping. “I’m pretty sure the Bank of Canada is not happy seeing…
Left vs. Left: Labor PM Says Greens Stonewalling Housing Fund for Political Gain
June 22, 2023
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Prime Minister Anthony Albanese has lambasted the Australian Greens for taking a hardline stance on the Housing Affordability Future Fund (HAFF), which could result in a potential double dissolution showdown. “For the Greens political party, this isn’t about the Australian people. This is about them. They want the issue, not the outcome. They deal in…
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