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.
State premiers like Gladys Berejiklian need to have a much sharper policy focus on delivering social and affordable housing.
Yet again the evidence shows supply is no cure-all for affordable housing. All levels of government in Australia need to concentrate on housing for low-income renters in particular.
Housing policymaking hasn’t gone smoothly since Tony Abbott sidelined the experts by scrapping the National Housing Supply Council in 2013.
Unaffordable housing and homelessness are burning issues. Policymaking has suffered from a critical lack of data and expert input since the National Housing Supply Council was axed in 2013.
Much of what is being built is straightforward ‘investor grade product’ – flats built to attract the burgeoning investment market.
The inexorable logic of the market will create suburban concentrations of lower-income households on a scale hitherto only experienced in the legacy inner-city high-rise public housing estates.
A couple of months isn’t enough to say the housing market is cooling.
AAP/ Tracey Nearmy
The housing market is too volatile to look at prices alone. If you want to understand the housing market you need to look at the wider economy.
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.
The Australian government has plenty of ministers, but not one of them oversees the whole $6 trillion housing sector.
New research finds a state of confusion when it comes to Australian government policymaking on housing, despite its huge economic and social significance.
Driven by higher returns on their equity, debt-financed investors are dominating the housing market and shaping its growth.
New research shows the actual returns on equity for housing investors are higher than most people realise. This helps explain why investors are able to out-compete other home buyers.
More competition between renters won’t help affordability.
In a market already tilted in favour of landlords, these apps could further push up prices.
Unless the demand pressures are eased, first home buyers are still likely to be crowded out of the market.
The budget acknowledges the crisis of affordability for first home buyers, but fails to do enough about demand pressures on prices to put home ownership back within their reach.
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.
Even properties at the lower end of the market are beyond the means of most people on low fixed incomes.
Only a small proportion of housing is affordable for low-income earners, while people on Newstart or Youth Allowance don't have any affordable options at all.
The Turnbull government’s line that supply is the key to affordability finds little support among housing experts.
Housing experts writing for The Conversation largely agree on the government policies that are causing negative distortions in the market and the wider economy. And supply is not the key concern.
The financialisation of housing has become central to wealth creation in Australian households.
Andrey_Popov from www.shutterstock.com
We now value the house as a wealth builder, not just a place to live in and raise a family. The result is a distorted investment market that makes home ownership and rental unaffordable.
Generation X and Y are equally, if not more aggressive than baby boomers when investing in property.
Business Briefing: how the attitudes of the next generation are changing the property market.
The Conversation 18,5 Mo (download)
There's been a shift in attitudes to the property market over generations, from owning a home as a right, to owning a home as a commodity.
On current trends, renters will eventually outnumber home buyers, representing a fundamental shift in how the economy and wealth generation work.
Generation Rent may force a complete rethinking of home ownership as a basis of our housing systems. Rather than representing security, these housing markets make us vulnerable.
The housing affordability crisis isn’t limited to the big cities – the Tweed Heads area, for instance, is rated worse than Melbourne in the latest survey.
The affordability crisis in regional Australia has a long history. In some places the problem is even worse for residents than in the capital cities.
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Financial reforms have given us a greater role in saving for retirement. Alas we're not very good at it.
The UK's obsession with ramping up prices for one of life's essentials could bring the economic roof down.
In countries where many if not most households have pets, ‘no pets’ rental policies are a serious obstacle to housing security.
Landlords and property agents often apply 'no pets' rules even though many households see them as part of the family. Their difficulty in finding rental housing then becomes a source of great stress.