Australian news and politics.

[Football us life]

Saw a report on ABC News about the Australian housing market running hot with a 1.1% increase in October.

Australia's home prices surge at highest rate in more than two years in October

Australia's property market is seeing rising demand, with record auctions over spring and a rise in both first home buyers and investors pushing up house prices.

www.abc.net.au

Real Estate dot com putting this down to the first home buyers scheme pushing prices up

First-home scheme triggers huge shift in Australian housing market - realestate.com.au

Australia’s housing market has become gripped in a buying frenzy following the federal government’s controversial decision to supercharge a scheme.

www.realestate.com.au

Today the RBA leaves interest rates on hold

RBA raises inflation forecasts but 'not hitting panic button just yet' — as it happened

The Reserve Bank has left interest rates on hold at 3.6 per cent, as widely expected. The Australian share market finished lower. Here is a look back on how the trading day unfolded.

www.abc.net.au

 

[Jetsfan]

Ban short term rentals, fix the housing problem overnight

 

[Football us life]

Ban short term rentals, fix the housing problem overnight

The NSW government trialled a 180-day cap on short-stay providers in Byron Bay, Ballina, the Clarence Valley and Muswellbrook from late 2021, tonsee whether it resulted in fewer holiday listings and a subsequent drop in price of long-term rentals.

Holiday rental caps not the solution to housing crisis

A cap on short-term holiday rentals in regional New South Wales tourist hot spots has had no impact on the housing crisis, a UQ study has found.

news.uq.edu.au

Didn't really have much effect.

 

[Jetsfan]

I didn't say reduce the cap, I said ban them

 

[Football us life]

I didn't say reduce the cap, I said ban them

Unrealistic

 

[tsf]

Ban short term rentals, fix the housing problem overnight

Let me guess, but keep negative gearing and let people still own 5, 10, 20 houses....

 

[LFC]

Saw a report on ABC News about the Australian housing market running hot with a 1.1% increase in October.

Australia's home prices surge at highest rate in more than two years in October

Australia's property market is seeing rising demand, with record auctions over spring and a rise in both first home buyers and investors pushing up house prices.

www.abc.net.au

Real Estate dot com putting this down to the first home buyers scheme pushing prices up

First-home scheme triggers huge shift in Australian housing market - realestate.com.au

Australia’s housing market has become gripped in a buying frenzy following the federal government’s controversial decision to supercharge a scheme.

www.realestate.com.au

Today the RBA leaves interest rates on hold

RBA raises inflation forecasts but 'not hitting panic button just yet' — as it happened

The Reserve Bank has left interest rates on hold at 3.6 per cent, as widely expected. The Australian share market finished lower. Here is a look back on how the trading day unfolded.

www.abc.net.au

well thats BS media driven - they are getting out bid no prob in Syd market and I expect near on most cap cities let alone trendy beach/coastal places especially Qld coast, in fact most coastal areas for eg.
Don't believe everything you read on internet - infact I don't bother reading mostly what many of you read you just know it.

 

[Football us life]

well thats BS media driven - they are getting out bid no prob in Syd market and I expect near on most cap cities let alone trendy beach/coastal places especially Qld coast, in fact most coastal areas for eg.
Don't believe everything you read on internet - infact I don't bother reading mostly what many of you read you just know it.

For me the ABC are a trusted news source. They're not really in the business of hyping up news stories for clicks.

 

[Jetsfan]

Let me guess, but keep negative gearing and let people still own 5, 10, 20 houses....

Well yes, I have a friend who has 5-6 houses, but they are long term rentals, gives people a place to stay. I also have people sleeping in cars near the local surf club because of a public toilet nearby. The minimum rent around here is around $850 per week, but you probably won't find one because they have been converted to short term rentals. People shouldn't be forced to live like that. Minns needs to get rid of the cancer before it gets worse.

 

[tsf]

Well yes, I have a friend who has 5-6 houses, but they are long term rentals, gives people a place to stay. I also have people sleeping in cars near the local surf club because of a public toilet nearby. The minimum rent around here is around $850 per week, but you probably won't find one because they have been converted to short term rentals. People shouldn't be forced to live like that. Minns needs to get rid of the cancer before it gets worse.

Most people don’t live near the beach.
For the vast majority of Australians, short term rentals are not an issue at all.

People hoarding houses is.

 

[tsf]

Also, what is that ‘he’s giving a place for people to stay’ like it’s a charity.

This is what drives the price up. It would be better if those people could buy that house. But they can’t when it’s being hoarded.

We might as well only sell water to the highest bidder and rent it out to the poor folk.

 

[Monoethnic Social Club]

Ban short term rentals, fix the housing problem overnight

Maybe NOT overnight but it will certainly help... Might piss off the champagne socialists who would have to take less holidays though..

 

[LFC]

Most people don’t live near the beach.
For the vast majority of Australians, short term rentals are not an issue at all.

People hoarding houses is.

how many people do you know hord house's ?
Are you saying people who own 1 investment let alone 3/4/5 etc don't rent them out ?
Thats what hording house's mean to me.
I rent every single one of my 20 investments the titles LFC have won lol......

 

[patjennings]

There are plenty who do it. In reality I can see the value, to some extent, in negative gearing that encourages the building of more housing stock. However, after allowing for some time for maintenance, I cannot support it at all for properties that stand idle looking for capital gains. This only adds to the scarcity of housing and pushes up rent. Say if you allowed four weeks for maintenance each year. Then for ever day after that you should only get pro-rata relief. If you can't rent it at the price you quote, it is too high. Lower it or sell it.

If the reason is to build more housing stock why support building of stock that is not available.

 

[Football us life]

I'm a big fan of Governments investing in social housing or at least Government subsidies on privately built and operated social housing developments. Inparticular I like the Dutch social housing model.

In Holland 30% of people live in social housing. The model is based on a simple bargain - developers in a decentralized system of non-profit organizations independent from the state, receive subsidies or low-interest loans in return for agreeing to rent apartments or houses at controlled prices to tenants who meet various income thresholds.

To a certain degree they take the business aspect out of the equation. Housing is a basic human right. It shouldn't be a money making scheme for people who are already well off.

People will always pick holes in such systems of public housing of course and no modelling of social housing is going to be perfect but anything is worth looking at if the current system is not working.

FWIW I have bought my own house in a very nice bayside suburb of Brisbane and I have paid off my mortgage but I'm not one to pull up the draw bridges and stick my fingers up to the 'have nots'.....

Australia is a reasonably wealthy country with a very good future economic prosperity situation in terms of it's resources. And from now and into the future should build a sovereign wealth fund to ensure that no Australian citizens ever become in dire straights when it comes to housing.

 

[Muz]

Well yes, I have a friend who has 5-6 houses, but they are long term rentals, gives people a place to stay. I also have people sleeping in cars near the local surf club because of a public toilet nearby. The minimum rent around here is around $850 per week, but you probably won't find one because they have been converted to short term rentals. People shouldn't be forced to live like that. Minns needs to get rid of the cancer before it gets worse.

Your 'mate' is a parasite and is part of the problem.

 

[Muz]

There are plenty who do it. In reality I can see the value, to some extent, in negative gearing that encourages the building of more housing stock. However, after allowing for some time for maintenance, I cannot support it at all for properties that stand idle looking for capital gains. This only adds to the scarcity of housing and pushes up rent. Say if you allowed four weeks for maintenance each year. Then for ever day after that you should only get pro-rata relief. If you can't rent it at the price you quote, it is too high. Lower it or sell it.

If the reason is to build more housing stock why support building of stock that is not available.

Housing is a human right. No one should be allowed to own 5 or 6 homes let alone 30 or 40 or more. It should not be an investment vehicle full stop.

Ban negative gearing on housing stock, grandfather existing investors, increase social housing by a factor of 3 so rents don't jump when negative gearing is banned.

Short term rentals are owned by people who, in the main, have those as investment properties. Fuck them off and you won't have short term rentals. (If people want to rent their house while they're travelling or rooms to travellers that's fine.)

 

[Muz]

how many people do you know hord house's ?
Are you saying people who own 1 investment let alone 3/4/5 etc don't rent them out ?
Thats what hording house's mean to me.
I rent every single one of my 20 investments the titles LFC have won lol......

Sorry but you're part of the problem.

Every one of those you own and lease out denies a first home owner the chance to own one.

And don't say they can buy them just as easily as you can when people that have multiple houses, like you, have massive amounts of equity and more often than not borrow 100% of the cost.

It's immoral and unconscionable to own dozens of homes while people sleep in cars.

I understand that investment in houses was encouraged by consecutive governments as a way to build wealth. I don't blame anyone for taking advantage of the situation but it needs to stop.

 

[Muz]

well thats BS media driven - they are getting out bid no prob in Syd market and I expect near on most cap cities let alone trendy beach/coastal places especially Qld coast, in fact most coastal areas for eg.
Don't believe everything you read on internet - infact I don't bother reading mostly what many of you read you just know it.

It's not bullshit. It's been reported by multiple outlets.

 

[zimbos05]

Well yes, I have a friend who has 5-6 houses, but they are long term rentals, gives people a place to stay. I also have people sleeping in cars near the local surf club because of a public toilet nearby. The minimum rent around here is around $850 per week, but you probably won't find one because they have been converted to short term rentals. People shouldn't be forced to live like that. Minns needs to get rid of the cancer before it gets worse.

Your mate ain't a hero. No one should be hoarding housing. He needs 1 to live in and 1 as an investment if he really wants it. Nothing more. Beyond that its just a means to play the tax system and engage in personal gain over screwing everyone else over. If he didn't own the other 4, the houses would still be there. It means 4 other families can buy a house. He is not giving people a place to stay.