In the 1980s, Australian geographer Maurice Daly exposed the urban planning system as a policy toolkit developers could capitalise on to drive subdivision and speculation – an insight that remains true even today.
AAP Image/Lukas Coch
Essays On Air: Australia’s property boom and bust cycle stretches back to colonial days.
The Conversation, CC BY 58.7 MB (download)
Australia's property market is slowing and many are contemplating a possible bust. But today's episode of Essays On Air reminds us that since colonial days, Australia's property market has had its ups and downs.
Being a property investor or house hunter appears to make Sydneysiders more supportive of foreign investment in residential real estate.
You'd perhaps expect property investors not to mind foreign investors who might push up prices. More surprisingly, house hunters are also more supportive than those who are not looking to buy.
The typical landlord is still the conventional “mum and dad” investor. However they are also mostly high-income and high-wealth households.
A new report shows how the private rental sector is changing.
Nurses who care for people in the city can’t afford a property anywhere near their place of work.
People on moderate incomes, including police and emergency workers, have been forced to seek housing on the city fringes, far from their places of work. But there are ways to reverse this trend.
The latest data shows a big jump in jobs, but construction is slowing.
The number of jobs might be going up but the real test will be whether wages rise too.
There are some risks, like a crash in the price of Bitcoin, that are more certain than others in 2018.
The odds are that we get through 2018 without war, mass capital flight, or a housing crash. But all the risks are medium probability, and the consequences could be dire.
Flatpack housing in Gateshead, UK.
Owen Humphreys/PA Archive/PA Images
Mass production with a touch of customisation could be the best future for affordable homes.
Australia got in first with restrictions on foreign investors in housing, but Jacinda Arden’s new government plans to go further.
Concerns about foreign investors driving up housing prices have been growing. Australia was first to bar foreign purchases of existing residential property, but New Zealand is set to go further.
All Australians involved in property transactions will likely be dealing with privatised land title offices in future.
The way land titles are issued, bought and sold will soon be very different, thanks to privatisation and technology.
The impact of Airbnb varies from city to city and suburb to suburb.
About 10% of empty dwellings on census night – 1.2% of all housing – were available for rental and vacancy rates have changed little in 35 years. Could governments be overreacting?
A house and land on the River Derwent, Tasmania, 1822.
National Library of Australia
The egalitarian myth behind the great Australian dream of home ownership is at odds with the first rules of land granting in the colonies. Even then, property ownership depended on wealth and status.
New rules will curb Chinese property development in Australia.
The Chinese government is curtailing outbound investment. While this will affect the Australian property industry, the rest of the economy should be unaffected.
Declining home ownership among young people has implications for their long-term financial wellbeing and indeed for the retirement income system.
HILDA survey results show home ownership among young people is declining, as mortgage debt almost doubles for the same age group.
The typical residential property investor is on average 42 years old; male and 72% are married.
Individual households in Australia, on average, own 83% of all investment dwellings rented to private tenants or resold. They are people who usually have another main source of income.
Vacant and unlit ‘ghost’ apartments are a source of public outrage in major cities around the world.
A tax on empty homes will make a modest difference to housing affordability. The sheer wastefulness of our housing system calls for something much more ambitious.
Interest rate adjustments are crude and fail to target the problems within the housing market.
A variable special rate on new residential housing developments in selected centres could be used to create a local incentive to supply more affordable dwellings at higher density.
Southport station, Nerang Street, soon after the light rail began running in 2014.
The light rail project pushed up property values within 800 metres of the stations by over 30% from 1996 to 2016. Gains on this scale offer a potential source of finance for public transport.
Tackling housing affordability will be a priority for the Federal Government in the 2017 budget.
The housing affordability measures in this budget involve not much more than tinkering.
Older Australians are not deterred by financial barriers as much as emotional ones, when it comes to downsizing.
When people do downsize, financial incentives are generally not the big things on their minds. And so most of the budget’s financial incentives will go to those who were going to downsize anyway.
The vast majority of cranes are used to build apartments.
AAP Image/Paul Miller
About 84% of cranes in Australia are used on residential sites, with commercial projects making up 5% of crane activity. Health, education, infrastructure and recreation projects make up the rest.