Survey Key Points on Young Australians Share Housing hit Hard during Pandemic

Survey undertaken in June 2020

-close to three in four have lost their jobs or lost hours

-one in five share-house residents skipped meals to afford necessities

-around 50% reported reduced mental health

-82% of the demographic are aged 35 or less

-some 50% in insecure work

-a fifth are visa holders  –

Further …  

-a fifth pawned or sold some possessions to pay for necessities; similarly some were unable to pay the rent or mortgage on time

-two in five moved house or changed occupants in their home

-68% transitioned to working from home or working longer hours for the same pay!

And …

-prior to the Pandemic they were vulnerable but now more are suffering with rental stress!

-they are in insecure work within the most impacted sectors of arts and hospitality

obviously JobKeeper and JobSeeker current payments need to be maintained

-and the Pandemic has highlighted the need for more social and affordable housing

with our Youth having the highest unemployment; little savings; and in housing stress with long-term implications!

.

     READ MORE!

https://www.domain.com.au/news/young-australians-in-shared-housing-some-of-the-hardest-hit-during-covid-19-survey-finds-975992/

Little Manly Residents oppose Stuart Street Boarding House

… 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.

Say NO to Boarding Houses in Low Residential Areas on the Northern Beaches

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’

https://www.bartier.com.au/insights/articles/no-more-monster-boarding-houses-in-r2-low-density-zones/?utm_source=Mondaq&utm_medium=syndication&utm_campaign=LinkedIn-integration

READ MORE!

‘Revealed $2.6M Boarding House with 12 Rooms proposed for Prestigious Spot in Manly’

https://www.dailytelegraph.com.au/newslocal/manly-daily/revealed-26m-boarding-house-with-12-rooms-proposed-for-prestigious-spot-in-manly/news-story/bd7012a934f48ad022a108d997477d57

Wealthy Sydney grows Richer X 2 the Worst off …

Image may contain: bridge, plant, sky, grass, tree, outdoor and nature

CAAN Photo: Homeless … yet a very neat camp was set up in this Glebe park in March 2020

KEY POINTS on what has emerged since the Coalition won the Election in 2013 …

-the void between the have and the have not Sydney suburbs has grown

-low interest rates have brought huge capital gains to a few hundred in Double Bay and the like …

-median incomes of Sydney wealthy suburbs grew at more than twice the rate of the worst-off

-the average income of Double Bay residents grew by 85% between 2013/14 and 2017/18

-RBA Governor, Philip Lowe ahead of the Pandemic advised that wage stagnation causes some to question Australia’s economic success …

REMEMBER THIS!  LET OTHERS KNOW …

READ MORE AND SHARE!

https://www.smh.com.au/politics/federal/incomes-in-sydney-s-richest-suburbs-growing-at-twice-the-rate-of-poorest-20200731-p55h8q.html

From Juwai some 20% new Victorian homes sold to Foreign Buyers

Melbourne montage 2019.jpg
By Montage by HappyWaldo – Own work by uploader created from licence-free images from Commons., CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=78098825

The NAB Survey findings reveal foreign buyers are buying up new homes across Australia

19.3% of Victorian new homes sold to foreign buyers

-with demand from China, India, and other parts of Asia

Juwai IQI Executive Chairman, Georg Chmiel submits overseas buyers are as little as some 5 per cent to 7 per cent of existing sales and 10 per cent to 13 per cent of new sales.

IS Chmiel serious?

WHAT about the real percentages that we suggest are concealed through the onshore Proxy who is already a citizen …

THE following may explain why Chmiel refers to the Chinese market as ‘a lifeline for developers’ …

In 2019 China had over 300 billionaires which put the country second in the world, after the United States

https://en.wikipedia.org/wiki/List_of_Chinese_by_net_worth

In China, there are 4.4 million millionaires, an increase of 158,000 on 2018, according to the report, and 10% of the global total. There are an estimated 1.1 billion adults in China.Oct 21, 2019

Back In 2019 this was reported in The Daily Mail

‘How more than A THIRD of the most expensive homes in Australia are bought by super rich Chinese entrepreneurs’

  • Australia’s most expensive property was sold to a Chinese investor for $140m
  • Other apartments in the building also sold for about $40m to foreign buyers
  • One quarter of Chinese tourists visiting Australia are looking to buy property

READ MORE!

https://www.dailymail.co.uk/news/article-7683201/How-expensive-homes-Australia-bought-Chinese-entrepreneurs.html

This report in 2018 …

Credit Suisse was able to obtain the breakdown of one in four Chinese buying Australian residential property from the three state governments that charge higher stamp duties on overseas buyers.

Credit Suisse said the data from January to June 2017 showed that 87 per cent of foreign property buyers in NSW were Chinese, with New Zealanders at 1.6 per cent the next biggest nationality.

The data shows the mainland China crackdown on money leaving the country has not dented demand. Nor will extra taxes deter the foreign buyers …

With the Australian housing market skewed to be supported by foreign buying, and Chinese wealth creation, how likely is it to stop any time soon?

READ MORE!

http://www.abc.net.au/news/2017-10-11/foreign-buyers-not-deterred-by-rising-stamp-duty/9038014

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 despite the 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)

NSW INC to give Developers 50% Land Tax Discount for Build-to-Rent

IS this about …

-giving developers yet again another ‘leg up’

-creating a cash flow stream for developers

More importantly where are …

-the details on rent, are they being transparent, what increases are applied, can the renter move out when they wish?

-the details about obligations and liabilities?

What about the fine print?

Are we expected to believe this money making venture has a social conscience?

Is this a case making out something is being done about rental supply?

Is this the beginning of a move to create another class, of permanent renters?

Is it the case our governments and developers are getting into bed together to ensure Australia, once proud leaders in home ownership will no longer achieve this worthy egalitarian position?

READ MORE!

https://www.smh.com.au/politics/nsw/nsw-to-cut-land-tax-for-20-years-in-ambitious-build-to-rent-scheme-20200728-p55gbm.html

NSW INC expedites Developers DAs Silences Communities Via Covid-19

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?

Despite the Pandemic a Sensational Number of Migrants gained Australian Citizenship in 2019-20!

The Morrison Government has recommenced with online citizenship ceremonies to replace face to face ceremonies …

-in 2019-20 more than 204,800 became citizens

-60% more than the previous year

-more than 60,000 applicants gained citizenship virtually since March

-largely from India at 38,209; the UK at 25,011; China at 14,764; Philippines at 12,838; Pakistan at 8,821.

-Victoria with the most at 60,081; NSW at 58,833; Qld at 31,714; WA at 30,394; SA at 14,135

-the 2019-20 figure more than doubles that of 2018 at 80,649

a further 140,000 who have an application pending

WHY has the government  made reducing the citizenship backlog and cutting waiting times a priority?

IS there some benefit in this for the Morrison  government?

TODAY, SATURDAY 25 JULY news report that immigration numbers are the lowest since 1917; and that this has the biggest influence on the rise of house prices!

That must be a first! 

This backs the rusted-on view that such increases are inherently good and necessary but like the ‘trickle down’ economy … it is a myth!

*In the Feds economic forecast according to ABC news this morning their assumptions include an opening of our Border in January 2021!!

despite predictions of a third and fourth wave of the CoronaVirus!

-and HIGH UNEMPLOYMENT at 19.7% prior to the Pandemic; with 1 MILLION AUSTRALIANS for which there is no job!

Looks like further proof that the Liberals are so rusted-on to the GROWTH MANTRA of migration and trickle down economics!

So much for sustainability and a greener economy, and any progressive policies. 

WHY is it that no media outlet or MP has mentioned this opening of our Border in January 2021 until now? We first heard of it this morning!

View: https://www.sbs.com.au/language/english/australia-s-budget-forecast-assumes-international-borders-will-open-for-temporary-visa-holders-from-january-2021#:~:text=Australia’s%20budget%20forecasts%20rely%20on,be%20allowed%20into%20the%20country

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 ..

READ MORE!

https://caan.info/3jEbo2F

LIKE CAAN ON FACEBOOK!

https://www.facebook.com/Community-Action-Alliance-for-NSW-744190798994541/?ref=aymt_homepage_panel

SEARCH CAAN WEBSITE:

https://caanhousinginequalitywithaussieslockedout.wordpress.com/

MAINLAND Buyers evaporate … Will the Pandemic Consequence of HIGH UNEMPLOYMENT Stem the Tide of Hong Kongers?

Image may contain: sky, cloud, ocean, boat, outdoor, water and nature
CAAN Photo 1: From Ballast Point to Waverton, Sydney

PERHAPS the Pandemic could be seen as a ‘blessing in disguise’ for Australian First Home Buyers … if it were not for the dire consequences here in Australia ALREADY of:

-even higher unemployment and underemployment which was at 19.7% prior to the Pandemic!

-Australians are dining at home; retail is struggling

-migration has almost been eliminated (but we can heave a sigh of relief!)

-as a consequence new housing supply is becoming more abundant

-many have had to break their housing lease or be evicted and rents have fallen

-lenders however are tightening their belt

WHAT could prevent Hong Kongers taking over from where Mainland Chinese left off … is that China will take control of their money! Thus preventing them fleeing to Australia to park their wealth

WHAT will be the saving grace out of all of this will be that the GUVMNT would not dare open the migration floodgates with such HIGH UNEMPLOYMENT ….

SHARE TO LET OTHERS KNOW!

READ MORE!

caan.info/2WK81NX

Image may contain: 2 people, tree, sky, plant, outdoor and nature

CAAN Photo 2: Lindfield; sought after by Mega Rich Foreign Buyers

PROPERTY Sector alarmed by Home Buyer Exodus!

WITH the demand for 115,000 ‘new homes’ to disappear by 2023!

Immigration Dept Stats advise that 310,000 people have left Australia

a further 300,000 people are expected to leave

-that high unemployment and a halt to skilled migration threaten house price markets

FINALLY … have they been hoist by their own Petard?

By a self-perpetuating scheme of population growth through Visa Manipulation that is not based on sound economics, but based on ‘a Construct’ … based on greed … and trickle down economics …

READ MORE!

https://caan.info/32FpwCS

LIKE CAAN ON FACEBOOK!

https://www.facebook.com/Community-Action-Alliance-for-NSW-744190798994541/?ref=aymt_homepage_panel

CAAN WEBSITE:

https://caanhousinginequalitywithaussieslockedout.wordpress.com/

FACTS on Foreign Buyers from the ‘Real Estate Inst.’ …

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!

CAAN Photo: Liverpool July 2020; view from Memorial Drive Liverpool

Image may contain: sky, skyscraper, tree and outdoor
CAAN Photo: Castle Hill June 2020 … where there were cottages!
Image may contain: skyscraper, sky, tree and outdoor
CAAN Photo: Chatswood May 2020: Chatswood is being built by CCP MONEY! Re Audio from Geopolitical Strategist David Lee
Image may contain: sky, plant, tree, skyscraper and outdoor
CAAN Photo: Prime by JQZ Waterloo Road Macquarie Park; May 2020

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 $30B despite 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’?

READ MORE!

About the Facts on Foreign Buyers of our Real Estate from the Real Estate Institute

https://caan.info/2ZKpBTT