The Centre for Independent Studies says planning restrictions have massively contributed to Australia’s housing affordability crisis. Picture: Getty.
Here’s an article by the usual vested interests saying NEGATIVE GEARING AND
THE CAPITAL GAINS TAX DISCOUNT (TAX BENEFITS) is a “trivial” driver of house
prices. Of course they’re blaming some thing else like the NSW Planning Rules
for boosting property prices as much as 40%!
AND ADDING more than 40% to house prices in Sydney and Melbourne …
YET it is reported here that these tax benefits only boost values by between 1% and 4%.AND what if the Feds were to cut back on migration the sector would only need to build for Australian First Home Buyers!THAT would amount to a fall in CO2 emissions from the construction materials ofconcrete, steel and glass. A win/win!AND what of the increased DEMAND through the FIRB Ruling that has allowed developers to sell 100% of their ‘new homes’ to foreign buyers? Apart from the high migration growth increasing DEMAND?HOW come during December 2020 within 3 weeks SYDNEY house prices
escalated by $200,000; totalling $500,000 within a few months in 2021?
NEWS REPORTS of more ‘Homeless’ Australiansnow sleeping rough in our
regions!
VIEW to learn more about the Board members of the CIS! With
backgrounds in investment banking, merger acquisitions, corporate sector,
property law …https://www.cis.org.au/people/board-of-directors/
WHY is the board alleging restrictive planning rules are by far the
key driver?
WHY has it taken so long for the CIS Chief Economist to allege that there needs
to be more weight put on the interests of renters and future home buyers after
developers demolished and redeveloped much of SYDNEY to cram in ever more
foreign buyers and Visa holders?
The CIS Chief Economist alleges that:
-the way to unlock more housing lies with state governments overriding local
councils, the report said, as is happening in NSW.
-forcing councils to lift bans on building low- and medium-density housing
near transport hubs, town centres and other well-located areas.
READ MORE!https://www.realestate.com.au/news/planning-rules-blamed-for-boosting-property-prices-as-much-as-40/?fbclid=IwAR07e1VT0V6j4BKrYK1M3JyXYIZO0MFaywW2haZN_T_ZdBvPopZWIC4YbOs
PHOTO: John and Janette Howard with first home buyer Ivan Kenny-Sumija and his family at their under construction Rowville home during the 2001 Aston byelection campaign.CREDIT:AAP
WHY is our Media attacking the Albanese Government about the HOUSING CRISIS that has long been in the making by the COALITION?
Apart from our Media being largely privately owned, and our ABC which promotes that their reporting is verified yet it appears our ABC Journalists are not able to tell the whole story – why is this so?
– there seems to be an inappropriate campaign – a blame game directed at the Albanese Government
Lots and lots of investment in this by a disgruntled lot that want much more of the same that locked out our families, and has seriously damaged social cohesion, and much more!
HOWEVER in fact much has been written about how our Housing Market was destroyed when JOHN HOWARDended routine public homebuilding in 1996.
In that budget John Howard also abolished all further rounds of the social housing subsidy program, which was established to provide a 20-year funding stream …
In that budget John Howard also abolished all further rounds of the social housing subsidy program, which was established to provide a 20-year funding stream …
“The government used to invest strongly in social housing, with one in three renters renting from the government up until the mid-eighties,” she said. “That approach worked to keep rents down not just for people on the lowest incomes but also for renters across the board.”
“Over the past few decades, they have moved away from providing housing directly. Instead, they spend billions propping up the private rental market through Commonwealth Rent Assistance with no track record of success. Rental stress keeps going up, including for people who get the payment.”
8 Oct 2020 — … Howard government effectively ended routine public home building in 1996. Pre-tested, pre-prepared. On a per capital basis, social housing …
31 Mar 2023 — Two years ago, a study by the Australian Housing and Urban Research Institute found that Australian governments had spent more than $20.5 …
“Analysis of census data by the bureau of statistics in 2022 showed home ownership for those aged between 25 and 39 had decreased in each successive generation since the 1990s.
‘The Men and Decisions behind Australia’s Housing Crisis’
“ … the HOUSING CRISIS in Australia can be traced back to a handful of catastrophic policy choices made by JOHN HOWARD and recommended by his friends’.
Since the election of the Coalition Government in 1996 HOUSE PRICES HAD DOUBLED.”
much has been written about how our Housing Market was destroyed when JOHN HOWARDended routine public homebuilding in 1996.
THIS took away the competition from the Public Housing Sector, and look at where we are now!
Property Investor Lending has reached a 6-Year high of total home lending, far outpacing that which goes to First Home Buyers.
In NSW, investor lending now makes up more than 40% of all housing finance, while FIRST HOME BUYERS are about 16% … that’s crook!
FROM COMMENTATORS THAT MAKE SENSE
MESSAGE FOR THE NSW PREMIER …
IT WOULD APPEAR from SMH Reader responses that despite all our States and Territories apart from Tasmania having Labor Governments … that now is not the time to benefit those lobbying to overdevelop our SYDNEY TOWN!
-ON HIGH IMMIGRATION … POPULATION GROWTH … FOREIGN INVESTMENT … TAX BENEFITS … THE ROLE OF REAL ESTATE AGENTS THAT PRICED OUT AUSSIES FROM OWNING A HOME
nkelly:
Cull the idiotic Howard era CGT discounts and get investors right out of real estate.
A treasury boffin has just said that supply and demand is a problem. Hello! Get investors out and demand drops. Not only is there a housing crisis because we have investors getting tax breaks competing with people looking for a home, but the price of commercial real estate is now a colossal brake on business! Only a mega business can make the numbers work with finance.
It is killing the country.
Phil J:
Cut back immigration till the people who already live here can get a roof over their heads.
RM:
I’m astonished at the enthusiasm this masthead is showing for an initiative so unpopular with the vast bulk of its readers
High-rise developments are already making Sydney a less attractive place to live. Those making money from them can’t believe their luck. The rest of us are left to wonder why the real solutions to the housing affordability problem are not being addressed.
Here they are again, in case you’ve forgotten them: Excessive immigration, foreign investment, negative gearing, lack of transparency by real estate agents.
seen it coming:
Vested interests are not interested in housing affordability or availability at all.
Paracelsus:
An ever growing population is madness. Zero population growth is the way to go for a sustainable environment and liveable society.
Elise:
If we are going to play “we wouldn’t have a problem if …” games (in this case, buildings were taller), then here is my preferred analysis:
Our population growth rate was 1.4% per annum over the last decade (ABS).
If we had capped it at (a still high by first world standards) 1% per annum then our population would be 1 million people lower. 1 MILLION.
GOODBYE Housing Crisis!
-DEVE-LOPERS
Wobbegong:
Allow free standing homes to be turned into semis with council notification and no need for approval. That would help and cut out the NIMBYs.
CAAN: Seems like a comment that one would associate with a Great White or Grey Nurse shark not a mere Wobbegong!
What about community rights?
AND Wobbegong suggests deve-lopers merely notify councils with no need for approval. Is that so the home owner has ‘no come back’? Stuck with the shoddy work … Karma can’t come soon enough, can it?
It appears that this sector has become a Law unto Itself bulldozing our communities to turn our beautiful Sydney into a slumland …
MiG:
A famous person once said:
‘For every complex problem there is a simple and elegant answer, and it is invariably wrong. So it is with building hi-rise dog boxes to solve Sydney’s “housing crisis.” ‘
All it will do is enrich developers as they cherry-pick the obvious, like water views in Balmain
Tea, Earl Grey, Hot:
The government’s plan will deliver more housing, but very little of it will be affordable. What it will absolutely deliver is even more mega profits to the developers.
CAAN’s RESPONSE TO TEA, EARL GREY, HOT:
Sadly there are far too many pooor Liable Party policies that there has not been the time to tear them all up yet!
AND we had in the recent past decade here in NSW a revolving door of deve-lopers lobbying the NSW LNP Coalition Governments to get what they wanted!
Namely, high-rise, high density apartment precincts developed by these Big Boys and they were able to sell 100% of these ‘new homes’ to foreign buyers (the FIRB ruling allowed this!)
AND it is the deve-lopers and their real estate agents who set the price! Have this lot left the building at the top of Macquarie Street yet?
They market these homes particularly in China and India where there are many Millions among them who are of High Net Worth and even Ultra High Net Worth!
These foreign buyers also have their Proxy buyers resident here in Australia who can also launder BLACK MONEY in our real estate!
We have not yet heard if the Second Tranche of the Anti-Money Laundering Laws has been implemented and enforced to prevent BLACK MONEY awash in our Real Estate Market!
With purchase the foreign buyer can gain a Permanent Resident Visa and/or a Family Visa HENCE the huge demand for our Housing pushing up house prices … locking out our families!
WHAT A SETUP FOR THIS SECTOR TO BENEFIT FROM!
IT would seem that to BAN lobbying by developer groups would save a lot of problems, wouldn’t it?
–QUALITY OF LIFE … LIVING STANDARDS
Nairda McNair:
I don’t know about you but my living standards would be lifted considerably if there were less people living in Sydney.
rmh:
These apartments will be priced way beyond what most people can afford, as developers will need to recoup the huge cost of buying up all these quarter acre blocks. They will then be sucked up by rich property investors to rent out at exorbitant rates.
CAAN: Or foreign money launderers … ?
Farmer:
God help the poor inhabitants of Sydney. The sardine can theory is ruining a once lovely city, that was a joy to visit and live in.
Now half the stressed population is on valium, or similar, to cope with daily stress, … and no wonder. The developers and their donation receptive political mates are destroying the amenity for everyone who lives there.
But no worries…. just keep packing them in!… and keep the donations coming!
-BUILDING QUALITY AND AFFORDABILITY
Pallas:
Issues of guarantees around genuine building quality and genuine affordability are not covered here but should be. Other countries manage non-profit home building, so why can’t we?
CAAN: It is the deve-lopers and their real estate agents who set the price!
They market these homes particularly in China and India where there are many Millions among them who are of High Net Worth and even Ultra High Net Worth!
These foreign buyers also have their Proxy buyers resident here in Australia who can also launder BLACK MONEY in our real estate!
We have not yet heard if the Second Tranche of the Anti-Money Laundering Laws has been implemented and enforced to prevent BLACK MONEY awash in our Real Estate Market!
With purchase the foreign buyer can gain a Permanent Resident Visa and/or a Family Visa HENCE the huge demand for our Housing pushing up house prices … locking out our families!
WHAT A SETUP FOR THIS SECTOR TO BENEFIT FROM!
IT would seem that to BAN lobbying by developer groups would save a lot of problems, wouldn’t it?
–HIGH DENSITY
Vindy:
With density comes the need for more social infrastructure, and we just don’t have enough as it is.
Increased density in existing neighbourhoods will increase demand for the limited infrastructure in place, which may be inadequate for the current population.
Time to start a conversation that recognises high density needs more than just a rail or metro line. Would love to see the true budget costings on what it would take to build all the density AND the infrastructure needed.
Also prudent to look at the current high density builds and see how much was invested in social infrastructure and see if it’s working.
Overlord:
Can’t wait for the density push in areas of Sydney where the infrastructure cannot cope. Roads, sewerage and electricity.
A perfect storm which will hit new residents as much as existing residents.
All to appease the Great God Population Growth. Minns … just advocates whatever big business wants.
When economists start advocating urban policies be very very concerned !
Bhenson:
A fast train linking Brisbane to Sydney and Melbourne would relieve housing stress, spread our population out and allow us to grow without choking our cities and destroying our quality of life.
CAAN: Agree FAST TRAINS would be a wonderful alternative to flying! However, this has repeatedly been put on the backburner due to cost! As our population grows rapidly. And our NSW Government
and Local Government are preoccupied with fixing up the roads damaged by construction, heavy trucks, maintaining power – overhead power lines, repairing/replacing old sewer lines.
IT would seem we taxpayers cannot afford the DEMANDS from the Property Sector! As they walk all over us!
In allowing deve-lopers to REZONE Sydney for higher density we have lost our ‘Community Rights’! We have lost the value of what we paid for! FFS!
Especially those whose homes neighbour the newly rezoned areas! To be confronted by storey upon storey … overshadowing … wind tunnels … loss of neighbourhood community of a garden suburb … with ever more people circling …
rmh:
The idea that knocking down traditional suburban housing and building multi-storey apartments on Sydney’s upper north shore will help solve housing affordability is a joke. These apartments will be priced way beyond what most people can afford, as developers will need to recoup the huge cost of buying up all these quarter acre blocks. They will then be sucked up by rich property investors to rent out at exorbitant rates.
CAAN: And/or ‘sucked up’ by foreign money launderers? Developers know there are Millions of foreign
buyers ready to splash the ‘Black Cash’.
IT is only now, it seems, that the wealthy ‘North Shore’ is experiencing the uprooting, and havoc that has been wide-spread across Sydney!
Bloody Barbie:
The government needs to fix the issues with empty apartments and houses owned by foreign investors or * stop foreign investment in apartments and housing.*
We keep building but in some areas such as Hurstville you see so few lights on in apartments in the evening as they are empty. Other countries can manage to stop foreigners buying. Why can’t we?
Tea, Earl Grey, Hot:
The government’s plan will deliver more housing, but very little of it will be affordable. What it will absolutely deliver is even more mega profits to the developers.
Chris Sharpe:
I believe that is the plan. They feel they need to blatantly lie to get it across the line for some reason..
Centrist:
Most people calling for high density to accommodate future immigration forget that these additional people need food.
Australia has the lowest average topsoil depth of any continent (10% of Europe’s average topsoil depth). Farms cannot also be high density.
If we want to eat more than beef and wheat, we will need to clear a lot more native habitat near the coast to grow more food.
I would prefer that Australia’s population growth tapers off to near zero.
Norskkatt:
An excerpt from Mr Kozial’s article of 3 February:
“The survey of 1035 Sydneysiders, conducted in January, found 50 per cent were “very concerned” about living costs, compared with 40 per cent last year. Another 39 per cent were “fairly concerned”. The proportion who said they were somewhat likely or very likely to leave Sydney in the next few years increased to 21 per cent from 18 per cent …”
This finding seems to suggest that Sydney has become a significantly less pleasant place to live.
*Keep calm and carry on:
The SMH’s support of the Minn’s Government plan to reduce all Sydney residents quality of life and sabotage reaching emissions reduction targets is getting old.
Increasing density and reducing green canopies and green space will be detrimental to communities and the environment.
I live in an area that will allow town houses, terraces or 2 story apartments. My husband and I could make a large profit in selling our home to a developer.
Our gardens, nurtured over the past 15 years to provide large shade trees, lawn space for family recreation and flowering shrubs will be bulldozed.
Living close to a reserve that runs into national park this local development will displace bush turkeys, Perrin’s tree frogs, blue-tongue’s, green tree snakes, possums and Tawny Frog Mouths that currently live in or around our garden, having a big impact on the local ecosystem.
The infrastructureto support this growth is inadequate – the trains full at peak, and there are regular extended delays sitting due to broken down trains. The roads are clogged, the public schools well above their student caps, and it’s normal to wait a week to see the GP. The water system doesn’t cope with storm water and broken mains in our aging pipes are common, as are blackouts in stormy weather.
Please explore some other options – reduced immigration, better transport links to regional areas that are crying out for larger populations to sustain local businesses, decentralising government services to provide jobs.
Anonymous Coward:
Higher density belongs in the CBD and immediate surrounds. Not in our suburbs.
*seen it coming:
Ignoring demand as the solution to a housing crisis is foolish. I see not a mention anywhere of Senators Sharkie and Gee’s bill to prohibit sales of existing housingto foreign buyers which would help lower demand. Seems like no one wants housing to be affordable ever.
Why ignore reducing demand as a rapid method of slowing housing’s rising costs? Please tell me, I am here all day.
Lex:
There is a dire shortage of both housing per se and social housing.
CAAN: Why is this so? It has nothing to do with the GROWTH OF IMMIGRATION, has it? Of course not!
nbcampbell:
The NSW Government needs to fund and build more public housing. There are thousands of eligible people on the waiting list who are currently renting privately.
The formula for renting public housing is 30% of a person’s disposable income. That should be adopted as a rental cap for the private rental market. There should also be a tax on investment properties that are left vacant. *
Gruffydd
Bevan you love to bang on about density, but you NEVER talk about:
a) The new schools b) The new hospitals. c) the new sewage infrastructure, water infrastructure. d) Road management e) Decent public transport (just because you build near a railway station does not mean the transport will follow or actually get you from point A to B).
How about you write an article about ALL THOSE THINGS you need to get correct BEFORE you build up.
The abject disaster of the M8 Westconnex should tell you about as much as you need to know about how we do forward planning and infrastructure in NSW
Jeanette:
And don’t forget: f) Open space
Totally agree with you Gruffydd. The SMH agenda is extremely one-sided. *
Lex:
Open space is more achievable with the move to high-rise than if the entire Sydney Basin is plastered with far-flung, low-level & detached, car-dependant housing.
??????????:
Wrong. A stable population policy is the solution. Not trashing what used to be a beautiful city.
Gymealad:
The more people you cram into high rise chicken box apartments the less attractive Sydney will become. Transport congestion, pollution, overcrowded beaches and public spaces do not make a place more liveable. Do people really want to live on top of each other?
Simply saying you want to live in Sydney has no more justification than saying you want to live in Mayfair in London, it is not a god given right.
Start decentralisation now, it should have happened 50 years ago.
CAAN: The Albanese Government is reducing immigration. Read more! “International Students
HIgher density building is not the complete answer to increasing population. Where are the plans for the transport, health, education and social infrastructure?
Does this rezoning take us 10, 20 or 50 years before we hit the next housing crisis?
And then consider the Mascot Towers, North Sydney Pool and the Rozelle Interchange. Is Sydney really ready to plan, build and deliver suitable and functional large scale expansion?
Sydney needs to be more than a toll operator’s and developer’s paradise.
Bloody Barbie:
The government needs to fix the issues with empty apartments and houses owned by foreign investors or stop foreign investment in apartments and housing.
We keep building but in some areas such as Hurstville you see so few lights on in apartments in the evening as they are empty. Other countries can manage to stop foreigners buying. Why can’t we?
Econoclast
The only rational solution to the housing crisis is a substantial reduction in demand, that is: immigration.
A very easy lever that would have almost instant results without creating havoc due to poor infrastructure.
The Centre for Independent Studies says planning restrictions have massively contributed to Australia’s housing affordability crisis. Picture: Getty.
Here’s an article by the usual vested interests saying NEGATIVE GEARING AND THE CAPITAL GAINS TAX DISCOUNT (TAX BENEFITS) is a “trivial” driver of house prices. Of course they’re blaming some thing else like the NSW Planning Rules for boosting property prices as much as 40%.
AND ADDING more than 40% to house prices in Sydney and Melbourne … YET it is reported here that these tax benefits only boost values by between 1% and 4%.
AND what if the Feds were to cut back on migration the sector would only need to build for Australian First Home Buyers!THAT would amount to a fall in CO2 emissions from the construction materials ofconcrete, steel and glass. A win/win!
AND what of the increased DEMAND through the FIRB Ruling that has allowed developers to sell 100% of their ‘new homes’ to foreign buyers? Apart from the high migration growth increasing DEMAND?
HOW come during December 2020 within 3 weeks SYDNEY house prices escalated by $200,000; totalling $500,000 within a few months in 2021?
NEWS REPORTS of more ‘Homeless’ Australiansnow sleeping rough in our regions!
VIEW to learn more about the Board members of the CIS! With backgrounds in investment banking, merger acquisitions, corporate sector, property law …https://www.cis.org.au/people/board-of-directors/
WHY is the board alleging restrictive planning rules are by far the key driver? WHY has it taken so long for the CIS Chief Economist to allege that there needs to be more weight put on the interests of renters and future home buyers after developers demolished and redeveloped much of SYDNEY to cram in ever more foreign buyers and Visa holders?
The CIS Chief Economist alleges that:
-the way to unlock more housing lies with state governments overriding local councils, the report said, as is happening in NSW.
-forcing councils to lift bans on building low- and medium-density housing near transport hubs, town centres and other well-located areas.
CAAN Photo: Storey upon storey … and this is where they are being housed!
… AND that’s from 2000 to January 2024!
The federal government’s ‘Big Australia’ immigration policy has increased Australia’s population by 7.6 million this century, with the majority of them settling in our main cities.
THIS CENTURY – 2000 – 2023 TO DATE AT: JANUARY 10 2024
(Looking back to 1996, and 1998 the Liberal Coalition formed governments under John Howard)
WHICH MOB took power at these Federal Elections?
2001: LIBERAL COALITION (led by Howard)
2004: LIBERAL COALITION
2007: LABOR (led by Rudd)
2010: LABOR
2013: LIBERAL COALITION (led by the Monk)
2016: LIBERAL COALITION (by the slimmest of margins)
2019: LIBERAL COALITION (Scott Morrison who previously worked for the PROPERTY COUNCIL OF AUSTRALIA (developer lobby group) … and it would appear Affordable Housing for Our Families has ‘become A History’!
–HOUSE PRICEBOOM END 2020/2021 … that locked out our Families! And locked out some who sold weeks before the BOOM! Or forced them far afield!
2022: LABOR
In the space of 23 years this Century Australia has had 5 LIBERAL COALITION GOVERNMENTS V 3 LABOR GOVERNMENTS
GO FIGURE AUSTRAYA … What have we brought upon ourselves?
NOW why would it be that the Liberal Coalition Governments too have had high migration numbers?
HAS it got something to do with ‘the particular mateship’ with the Property Sector? To boost this Sector’s coffers through increased DEMAND for our HOUSING?
AND it would seem that this sector also holds too much SWAY over the direction of our Nation? With an economy based on Housing …
WHICH has led to Our Families being locked out of the detached homes they grew up in … to either rent or buy an apartment in our now densely populated cities.
‘How the great Australian Dream transformed the Economy into a House of Cards’
‘Why more Chinese Buyers are snapping up Sydney property’
‘Foreign buyers can apply to purchase new properties, and can apply to buy an existing property if they will redevelop it and add to the housing stock, or if they are a temporary resident who will live there while in Australia. Permanent residents are free to purchase property.’
CAAN Photo: We had detached housing with a backyard for children to play in! Replaced now in housing estates with ‘dual occs’, terraces, mega houses … and not a tree in sight!
Photo: Developers are submitting DAs to demolish existing older blocks.CREDIT:RHETT WYMAN
IN the SMH today – ‘Housing Crisis is Real and Here to Stay’ – unless our Governments take control BECAUSE that would be in the interests of the majority … wouldn’t it?
WHICH Government led the House Price Boom? Which has led to this HOUSING CRISIS?
HOW many stories have we read about homeless people sleeping in vans or their cars who have been moved on by Councils?
YET rarely do we read of them being settled in alternative accommodation …
AND that’s apart from those who resort to finding a place to rest their head … on park benches, or moving along in buses or trains …
CAAN has shared stories about those who have sold and come up against it too!
BECAUSE the SYDNEY stock for sale is limited … it’s overpriced … the DEMAND is larger than the supply … and prices continue to rise … so Sydneysellers can find themselves priced out within weeks of their home auction … faced with exorbitant rentals … and resorting to searching for a home that is affordable in the regions … isolated from their friends and family … apart from experiencing resentment from their new neighbours …
Downsizing to what? What is out there? A townhouse … an apartment with high fees … ?
Then may find themselves suffering serious illness …
RETIREMENT VILLAGES – a commentator has described as ‘social monocultures with … controlling managers … ‘ That’s apart from eating up the family inheritance … what of the future for our families? Will there be no let-up?
DEVELOPERS – it appears are onto another winner – to demolish and wipe out existing inner Sydney housing stock for large luxury apartment developments for the wealthy … and overseas buyers …
“Sydney councils bid to halt demolition of old housing for luxury apartments”
BECAUSE these luxury developments wipe out the existing housing stock! Locking out the former inhabitants …
IT appears that Sydney Councils are leading the way because they are aware of the HOUSING SHORTAGE, and in touch with the needs of those on low incomes … even those on high incomes are scratching because they are paying $1000 plus a week to rent an apartment!
WILL our governments follow this action by Councils, and step in and put a ‘FREEZE’ on escalating house prices … because sellers too can find themselves priced out!
WHY are ‘jumped up’ sales reps controlling this market? WHEN it appears there are more disadvantaged people than those in ‘The Mob’ … ?
HOWEVER … CAAN has been sharing a lot of information about HOUSING … IMMIGRATION … SHORTAGE OF TRADES … DEFECTIVE DEVELOPMENTS … THE MANIPULATION OF THE HOUSING MARKET BY ‘the professionals’ …
NOW armed with all the information we have shared here on Facebook and on our Website from 2014 to date …
… ISN’T IT TIME THAT First Home Buyers, Mums and Dads got together and PUSHED as Buyers to have MORE SAY than the Property Sector?
We figure that is what it will take …
BUT everyone needs to be aware there are organisations run by LOBBYISTS who may
not act in your best interests … check out who they are, and what they represent …
AND who they are associated with!
A CAMPAIGN needs to be led by YOU, genuine FIRST HOME BUYERS getting together and organising meetings with our Governments both State and Federal to push for changes in policies to be geared to benefit Home Buyers over the wants and demand$ of the Property Sector … their agents and developers!
WHO is it that has pushed for high migration?
WHY is this so? Other than to push up the DEMAND and thus HOUSE PRICES …
At CAAN we figure when you do this … when you demonstrate that these changes will not only benefit yourselves, but the Albanese Government will feel confident to make these changes FOR YOU!
CAAN PHOTO …. A white picket fence or similar version that we aspire to!
ABC 7.30 photo shared; CAAN story here explains HOW buyers have been priced out!
THIS STORY may well explain what has happened to the Sydney real estate market, and why we have falling home ownership especially for our families.
Following is a TRUE TALE related to CAAN that we figure explains what led * to the Housing Price Boom that you perhaps have not heard about, and is a big factor WHY we suggest that we had this HOUSE PRICE BOOM which escalated in December 2020. *
We have learnt that a homeowner sold their home in the northern suburbs of Sydney in early December 2020. The Real Estate Agent from a leading firm prior persisted in lowering the reserve to $1.5M contrary to the wishes of the seller who wanted a reserve of $1.6M. The advertised house price was $1.5M
The seller hoped they would gain $1.7M which shortly prior was the sale price of comparable homes in the area.
In the lead-up to the auction the seller noticed black limos pulling up at a neighbouring home on a number of occasions … as well as agents from this same real estate agency visiting. Why was this so?
This neighbouring home was not, and did not go on the market!
What do you figure was going on here?
This made the seller very nervous … The home went to auction; it gained almost $1.8M!
HOWEVER within 3 weeks of this auction this leading real estate company advertised all comparable homes in this suburb and surrounding suburbs for $2M! So they UPP’D the advertised sale price (of $1.5M) by $500,000!
That meant this seller was priced out of much of the SYDNEY real estate market unless they bought an inferior property in a lesser suburb.
QUESTION Why is the Real Estate Sector able to operate like this? Why do they have so much power? Some people may believe this is okay until it happens to them … Isn’t it time that this sector was regulated?
Mortgage repayments in Tasmania account for 35 per cent of household income, the report says.(ABC News: Lucas Hill)
WHO is perpetually destroying housing affordability in Australia? WHAT else could be behind it?
… some have told us here at CAAN about their recent personal experiences in the real estate market.
WHY does this sector wield so much power?
IF you think back we have had predominantly Liberal Coalition Governments in this country … with policies written to benefit those with extra cash … to invest and gain even more TAX BENEFITS … like negative gearing and Capital Gains Tax Benefits … Franking Credits … that the rest of us pay for …
IT was the constant media reporting that has lulled too many, it seems, into this false belief about our (their) wealth – as BORROWERS (Mortgagors) …
WE soon learnt that …
THOSE who sold a matter of weeks prior in 2020 were DUDDED $200,000! They were priced out of Sydney … and the price increases continued totalling some $500,000 over a few months.
WHAT OF THE CONSEQUENCES?
WHY DOES THIS SECTOR HAVE SO MUCH POWER?
THAT BUYERS in such a “Hot Market” are forced to buy at inflated prices for homes with dodgy plumbing, guttering full of holes, mould, worn out kitchens, and bathrooms – you get the drift?
DOES it seem like there is something a ‘bit off with this sector’?
AND we noted that this further HOUSE PRICE BOOM … it began in mid to late December 2020 when house prices were lifted in the market by $200,000 more, and the asking price became $2MILLION!
THIS was contrary to the immediately prior Real Estate Agent practice of marking down the asking price …
INSTEAD they upp’d it! Suddenly all the houses on the market in the northern suburbs instead of having a marketed sale price of $1.5M with a view to gaining $1.7M or $1.8M had an asking price of $2MILLION!
WHICH MOB set this in train? Where did this originate from?
HAVE you seen big black limos pull up at a neighbouring property … that is not and does not enter the sales market … ?
THAT aside … so those who sold prior in 2020 … even immediately prior to this DECEMBER 2020 BOOM were dudded!
They were priced out of Sydney … and the price increases continued totalling some $500,000 – HALF A MILLION! Over a few months!
WHY does this sector wield so much power? IT’S time this got sorted, isn’t it?
READ this report from the ABC:
‘Housing affordability at lowest level in 30 years, data shows’
The Centre for Independent Studies says planning restrictions have massively contributed to Australia’s housing affordability crisis. Picture: Getty.
Here’s an article by the usual vested interests saying NEGATIVE GEARING AND
THE CAPITAL GAINS TAX DISCOUNT (TAX BENEFITS) is a “trivial” driver of house
prices. Of course they’re blaming some thing else like the NSW Planning Rules
for boosting property prices as much as 40%!
AND ADDING more than 40% to house prices in Sydney and Melbourne …
YET it is reported here that these tax benefits only boost values by between 1%
and 4%.
AND what if the Feds were to cut back on migration the sector would only need
to build for Australian First Home Buyers!
THAT would amount to a fall in CO2 emissions from the construction materials of
concrete, steel and glass. A win/win!
AND what of the increased DEMAND through the FIRB Ruling that has allowed
developers to sell 100% of their ‘new homes’ to foreign buyers? Apart from the high
migration growth increasing DEMAND?
HOW come during December 2020 within 3 weeks SYDNEY house prices
escalated by $200,000; totalling $500,000 within a few months in 2021?
NEWS REPORTS of more ‘Homeless’ Australians now sleeping rough in our
regions!
VIEW to learn more about the Board members of the CIS! With
backgrounds in investment banking, merger acquisitions, corporate sector,
property law …https://www.cis.org.au/people/board-of-directors/
WHY is the board alleging restrictive planning rules are by far the
key driver?
WHY has it taken so long for the CIS Chief Economist to allege that there needs
to be more weight put on the interests of renters and future home buyers after
developers demolished and redeveloped much of SYDNEY to cram in ever more
foreign buyers and Visa holders?
The CIS Chief Economist alleges that:
-the way to unlock more housing lies with state governments overriding local
councils, the report said, as is happening in NSW.
-forcing councils to lift bans on building low- and medium-density housing
near transport hubs, town centres and other well-located areas.
READ MORE!
https://www.realestate.com.au/news/planning-rules-blamed-for-boosting-property-prices-as-much-as-40/?fbclid=IwAR07e1VT0V6j4BKrYK1M3JyXYIZO0MFaywW2haZN_T_ZdBvPopZWIC4YbOs
COMMUNITY ACTION ALLIANCE FOR NSW (CAAN): HOUSING INEQUALITY WITH AUSSIES LOCKED OUT! 