… there are more people wanting this style of accommodation.’ Said that with the vested interest …
WHAT this really means is that AUSTRALIANS, as we know, have been priced out of HOME OWNERSHIP …
… by both the investment and property sectors … and money launderers …. and in order to live close enough to where they work it is proposed that AUSTRALIANS have to board, or become life-long tenants in Build-to-Rent schemes … that are not so affordable …
HOW IS THAT ON?
Residents in low rise residential areas on the Northern Beaches have formed a GROUP to fight back.
WHY not do the same in your area to stop this before it starts? To forever change where you live ….
IMPORTANT! This is what the Group writes has happened:
‘ … due to current SEPP loopholes. Northern Beaches Council overwhelmingly voted for change on 27/2/18. They want affordable housing but they want to have a plan and the infrastructure in place to support any changes. ….
We are against Council’s Planning processes being by-passed.
We ARE against State Government Laws and Policy being exploited by opportunistic developers under the guise of affordable housing as “boarding house” applications.
OUR MISSION Our goal is to prevent Developers building what they term “boarding houses” under the State Environmental Planning Policy (Affordable Rental Housing) 2009 (AHSEPP).
These developments are not affordable and they are not traditional “boarding houses”. They are micro-apartments rented out at $450-500 a week for a term of 3 months. ‘
They are sold in 10 years for $500k each. They are built in quiet residential streets on R2 residential low density zoned blocks (that’s your next-door). They are 29 square feet. They can be built anywhere within 400 meters of a bus-stop on the Northern Beaches.
Parking is insufficient at 1 spot to 5 apartments. They don’t have enough green space. They don’t meet community needs and destroy quiet family streets.
Again they are NOT affordable.
OUR URGENT FOCUS To work with our Community, Council and the State Government to have the State Environmental Planning Policy (Affordable Rental Housing) 2009 (AHSEPP) revised.
This is to ensure Developers don’t circumvent Council designated planning and process through appeal in the Land and Environment Court. … ‘
AND … view this article: ‘No more Monster Boarding Houses in R2 low density zones’
Chmiel, of course, …. has overlooked wage stagnation, high unemployment and underemployment in Australia with one Million Australians for whom there is no job!
Unemployment was at 19.7 per cent prior to the Pandemic! A consequence of the competition for jobs from Visa workers across all industries …
SEARCH CAAN WEBSITE for more information …
Add to the mix high immigration and visa manipulation, the syndication of the PROXY Buying
Thus aspiring incumbent home owners were locked out of the housing market long before Covid-19!
The HNW and UHNW Foreign buyers are able to concentrate on the inner city and affluent areas because, it seems, policies have been rewritten to allow them!
The FIRB Data reveals over the last 10 years:
–buyers from Asia have spent some $211Bn in our real estate
-of which $125 Bn from Chinese buyers; they made 40.1% more inquiries in the second quarter than in the first quarter despitethe pandemic, travel bans and lockdowns
-at 14.9% below that of a year earlier
–local buyer activity dived by 40% *
CHINA … with its Wuhan capital in the Hubei Province … the source of the World-wide pandemic … is now appearing to prosper with the Chinese buying real estate both in China and in Australia enabled by online marketing!
WHY not ask your local MPs why the Morrison Government is not addressing this serious imbalance for its Constituents?
SHARE! Tell others !!
VIEW OR SEARCH AND READ MORE!
‘Almost 20% of new Victorian homes are sold to overseas buyers’
caan.info/3jVj5Bv (if this link does not work here; copy it and search for the article)
HOW convenient has the Pandemic been, it seems, for NSW INC and some councils with restrictions on gatherings to eliminate the right of people to protest so many poor planning decisions with overdevelopment … that are clearly contrary to their interests.
Could some Councils be stacked with rels of MPs … real estate agents, developers, conveyancers, lawyers and accountants?
We have already learnt of Four Tranches of Shovel-ready development projects fast-tracked during this Pandemic …
The system appears to have been streamlined … online for Development Applications
We had a chat recently with someone who has undergone this experience, and this is what they told us!
Councillors conduct video meetings with local residents objecting to DAs. However the community is restricted to the number who can participate, and only for a few minutes each! Squashed!
Whoda thaut that the devils would seek planning approval … to sit on them for a more lucrative project, or sell the land with the Development Application attached to make more?
AND with the online system eliminating the rights of residents to object to plans … it has also meant that councillors are less likely to view the sites … they don’t have to get out of their chair …
-online local residents can speak but may be muffled!
However, the City of Sydney ensures that all objections and planning submissions are made available to the members of the local planning panel ahead of the meetings. Following which both applicants and objectors can then speak to the panel through an online video meeting.
How likely, is it, that this happens across all Councils?
And, of course, Councils having discarded the paperwork DA approvals have been accelerated! Again another benefit for developers …
To top it off the developers domain, the Land and Environment Court also operates online. This can mean that the planning panel members may each be in their homes … three or four of them along with an architect, and the council officer perhaps a planner also working online from their homes.
Could such a meeting be manipulated if a member started talking over the top of the others?
Are they so devious along with the support of a compliant media … and with their obsession about returning to normal … it ain’t happening for a long time … if ever!
They don’t like what we are seeing … their business model is haemorrhaging; they have a conga line of developers, University V-Cs, tourism and airline lobbyists, car sale dealers, even high fashion magazine publishers and retailers into them 24/7 ..
DOES it appear that the role of the Foreign Investment Review Board (the FIRB) is to look after the wealth portfolio of their client base, largely the Property Sector … ?
CAAN has a look at a document alleged to be ‘The Facts about Foreign Buyers’ … of Australian Real Estate from the Real Estate Institute of Australia …
WITH the development of Fiefdoms across Sydney … known as High-rise Precincts, does this Sector seriously believe that Australians cannot see what is going on?
OBVIOUSLY these ‘Fiefdoms’ evolved due to the high cost of tiny lots in the Sydney CBD and the inner circle suburbs …
PERHAPS this has something to do with the evolution of so many HIGH-RISE PRECINCTS across Sydney … where developers could buy large lots at a fraction of the cost … to sell to a huge overseas market!
THE HIGH-RISE PRECINCTS across Sydney that look like Fiefdoms … were proposed dating back to 2012! Facilitated by high immigration and Visa manipulation.
When their suburbs are being inundated with people from overseas particularly since 2015 from Mainland China … that as at 2015 many Australians were outbid at house auctions – largely attended by these Visa holders or their onshore Proxy, and that this experience continued … until there was a change with Realtors cancelling auctions to conduct sales inhouse …
In this frenzied environment prices of homes escalated … perhaps unbeknowns to many at that time (2015) investment of $1.5M in a home correlated with an Investment Stream Visa … which no doubt also contributed to the price hike!
YES, why do we need ‘foreign investment’ which are in fact foreign acquisitions’?
The answer to this perhaps goes back to lobbying by this sector in 2008/09 when they were able to convince the government with ‘the Sting’ that they needed to increase their overseas marketing sales from 50% to 100% of ‘new homes’! They then got an FIRB ruling!
AND Australia not only has had high immigration but a backdoor to migration through Visa Manipulation with Temporary Visa holders able to gain ‘Permanent Residency’ when they bought our real estate …
As reported, the FIRB to date in November 2018 had not carried out a single prosecution against foreign buyers who had failed to comply with our laws on buying our real estate!
WHY is it that temporary Visa holders can purchase our land, an established home and a number of ‘new homes’? … How can that be of any benefit to Australians? With so much competition in the market?
Amanda Lynch, the former CEO of the REIA suggests that without foreign money many new developments would not be possible … of course not because they would bloody well not be needed!
Constituents especially Our Youth do not need them either because they are priced out, or because we resent this ugly inundation of High-Rise Precinct Fiefdoms across Sydney …
Rentals are only now coming down due to the Pandemic with so many having lost their jobs and/or business owners have had to break their leases … forcing landlords to reduce the rents to gain new tenants …
Previously it was said that Chinese buyers were targeting homes valued at less than $1M which is the market normally for Australian First Home Buyers. However, Ms Lynch puts that these foreign buyers are acquiring properties valued at more than $1M …
That could possibly be the case with reports that some ‘buy a whole floor of an apartment development’ … CAAN was notified of this happening in Asquith!
AND there are no limits on the number of ‘new homes’ they can buy!
WHY wouldn’t the REIA believe that this huge foreign market was good for this Sector? As the supply was built for these foreign buyers … a possible 1.4 Billion of ‘em!
The suggestion that this increased the supply of rental properties is readily disputed due to the numerous reports of ‘foreign buyer’ dwellings left vacant and pristine.
Have you noticed in your area such empty dwellings? We know of a ‘block of flats’ that has remained empty for more than 12 months; recently it has been lit up of a late afternoon with blinds half open; some move up and down a little periodically (on a timer), and the lights on one balcony remain on all day and all night. No-one is ever seen to enter, or leave … mail and flyers ooze out of the letterbox …
From a record $72B foreign buying spree in our real estate in 2015/16 it is alleged to have dropped to $30Bdespite the increased housing development in that period …
Could that be explained by the presence of the onshore Proxy, and/or the foreign buyer having gained a PR Visa through online purchase?
What the Institute omits to refer to are the vast number of UHNW and HNW acquiring our real estate who were not discouraged by increased stamp duties, nor banks tightening lending because it would seem that they deal in shadow banking … and Black Money … what did make a difference in or about 2018 was China’s capital controls! Since lifted …
WITH the FIRB role of ensuring this foreign buyer market in Australian ‘new homes’ …
DOES it seem that this is the very reason for the existence of the FIRB?
The fees of $5000 or $10000 are nothing to those of High Net Worth …. Temp. Visa holders who buy our real estate can fast-track to gain a ‘Permanent Resident Visa’
AND there are no limits on the number of ‘new homes’ that foreign non-residents can buy; they only have to seek FIRB approval … for whatever that means!
FURTHER … they can buy an established home for redevelopment … hence many beautiful Heritage and Mid Century Homes demolished allegedly to increase housing stock …
Possibly for even more ‘foreign buyers’?
About the Facts on Foreign Buyers of our Real Estate from the Real Estate Institute …