Defective balconies might be commonplace in apartment blocks across the country, requiring costly repairs and putting the safety of residents at risk. More than 550 damaged balconies had been found by Cladding Safety Victoria during inspections for flammable cladding, as of October 2022. The authority is concerned the issue is widespread in unit blocks across…
Australian PM Announces $2 Billion in Social Housing Investments
Australian Prime Minister Anthony Albanese announced a $2 billion (US$1.4 billion) injection into social home investment across the country as the federal government continues attempts to pass its “Housing Australia Future Fund” bill. The $2 billion Social Housing Accelerator payment will be delivered to all states and territories in the next two weeks. “Every Australian…
Uncontrolled Immigration Is ‘Sending Australians Into Poverty’: Freelancer CEO
May 23, 2023
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Matt Barrie, CEO of Freelancer—the world’s largest online marketplace for freelancers—has lambasted the Albanese Labor government for boosting immigration to record highs. In a speech at the Sydney 2050 Summit last week, Barrie said the Albanese government’s policy to bring in 700,000 migrants by next year was “not about the economy, but inflating GDP.” The…
Push for $2.7 Billion to Build 5000 Youth Housing Properties in Australian State
Cathy Beacham was heavily pregnant and had escaped family violence when she was confronted by the prospect of becoming homeless. The then-17-year-old reached out for support from her midwife, who instead called child protection not knowing what else to do, making Beacham feel degraded and fear her baby would be taken away. It wasn’t until…
Tens of Thousands of Approved Housing Projects at a Standstill Due to Cost Pressures
Developers are putting a hold on approved residential housing projects because of surging construction costs at a time when Australia is expecting well over a million migrants within the next five years. According to a new analysis by KPMG Australia, the plateau in property prices combined with about a 30 percent increase in construction costs…
Victorian Housing Tower COVID-19 Lockdown Reaches $5 Million Settlement
Thousands of residents forced into a sudden COVID-19 lockdown in public housing towers in Melbourne in 2020 are eligible for $5 million (US3.3 million) in compensation. The Victorian Government settled a class action over measures intended to stop an outbreak of the virus in nine towers at the height of the second wave. The plaintiffs…
Australian Housing Stamp Duty ‘Discourages People From Relocating’
Victoria’s largest source of tax revenue is inefficient, constrains property investment and will need replacing with support from the federal government, an inquiry has been told. The Legislative Council’s Economy and Infrastructure Committee is examining land transfer duty fees, known as stamp duty, which is tax paid by a purchaser on a property. Victorian Treasury…
Another Australian Home Builder Collapses as Industry Struggles
Another Victorian building company has gone bust, weeks after the collapse of one of Australia’s largest home builders, Porter Davis, and construction firm Lloyd Group. Award-winning builder Mahercorp announced it went into voluntary administration on April 21, affecting more than 700 homes, as the industry continues to struggle amid the cost of living crisis. In…
Rental Market Under Pressure in Brisbane, Queensland After Lockdown-Driven Migration
September 8, 2022
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australian housingBrisbaneBusiness & MarketsCameron DickCCP VirusDavid Crisafullieconomic policiesGlobal Real Estateproperty rentalQueenslandreal estateWorld
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Demand for rental properties remains sky high in the capital city of Queensland, Australia, following months of interstate migration from some of the most heavily locked down cities in the country. The latest figures from the Australian National University and CoreLogic, a property data firm, showed that rental vacancies in the Greater Brisbane area—around 2.5…
Rental Market Under Pressure in Brisbane, Australia After Lockdown-Driven Migration
September 8, 2022
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Australiaaustralian housingBrisbaneBusiness & MarketsCameron DickCCP VirusDavid Crisafullieconomic policiesGlobal Real EstateInternationalproperty rentalQueenslandreal estateWorld
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Demand for rental properties remains sky high in the capital city of Queensland, Australia, following months of interstate migration from some of the most heavily locked down cities in the country. The latest figures from the Australian National University and CoreLogic, a property data firm, showed that rental vacancies in the Greater Brisbane area—around 2.5…
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