2021 … the Most Expensive Housing Market in Short Supply … Why?


PART 1!

2021 … There has been an extraordinary shortage of homes for sale to meet the needs of Australians seeking to buy a home!

Sydney house prices reach record median $1,410,133 – rising almost $1200 a day in just three months.’ And buyers are not getting a lot for this!

https://www.domain.com.au/news/sydney-house-prices-reach-record-median-1410133-rising-more-than-1200-in-a-day-in-just-three-months-1075735/

WHENEVER this issue is aired in the media … at the dinner table … at the tennis club …

THIS is what Property Investors usually say

‘If investors don’t invest in property there would be no rentals.’

Are they trying to shut down any other point of view? Cough … cough …

Back in 2014 ECONOMIST SAUL ESLAKE ‘Put Paid to This’!

Summarised here below are the points Saul Eslake made:

-RBA Stability Review revealed that with strong investor demand housing loans accounted for about 40% of all home loans

15% of voters took advantage of negative gearing to buy assets and deduct the interest costs against other income (CAAN: Free Money)

-it would be easy for Canberra to decide that any new investment past a certain date would not be eligible for negative gearing

RATHER THAN THE RBA TACKLE THE UNBALANCED HOUSING MARKET AND HURT THE WRONG PEOPLE SUCH AS FIRST HOME BUYERS …

-the Government (Canberra) could curtail negative gearing by reducing borrowing by investors *

businesses … unlike property investors … do not get a 50% discount on any profits they make concerning capital gains tax (CGT)

-what happened in 1985 when Treasurer Paul Keating abolished negative gearing rents rose in Sydney and Perth but not in any other market!

.because in 1986-87 Sydney and Perth had vacancy rates of less than 2% which led to rent rises

-if landlords dump their properties other people will buy these properties; they will move from being renters to home owners!

.and a drop in demand for rental properties

investors are more inclined to take out ‘interest only’ loans because the interest costs on investment property are tax deductible

64% of loan approvals to investors are ‘interest only’ loans compared with 31% owner-occupiers

-if investors are not reducing the principal on their loan(s); risk they will be in negative equity if house prices fall

investors with incomes in the top 20% owe 60% of all investor housing debt; more than one quarter of Australia’s housing debt

READ MORE!

Kill negative gearing to calm housing market, says Saul Eslake

https://www.smh.com.au/business/the-economy/kill-negative-gearing-to-calm-housing-market-says-saul-eslake-20140929-10nr84.html

Yes, the Housing Market is Tooo Hot!

FROM the AFR:

‘HOUSING MARKET TOO HOT FOR RENOVATORS’ ….

Not just too hot for renovators to flip …

DAILY we hear reports that it is the very low interest rates and government grants that have pushed up house prices. TRUE!

AND the impact of Tax Benefits for investors of Negative Gearing and Capital Gains Tax … sadly the ‘Silent Majority’ who largely don’t benefit were spooked by the dirty 2019 Lib campaign … TRUE!

BUT we figure there is even more to it than that!

CONTEMPLATE the impact of … the Residential & Commercial Market Research companies (we won’t name them) but daily we hear reports from them that:

-house prices are rising daily; weekly; monthly; and predict also in early 2022

-the consequence of this is that sellers hold off! They want even more!

.this means the supply reduces and maintains the hike

COULD it be that meanwhile Real Estate Agents suggest to prospective sellers to hold off … that house prices are going to increase further, and that they (the agents) have enough listings currently …

THIS in turn means that if there is another hike following sales by these sellers … that they too may well be confronted with being priced out!

SADLY those who can still afford to buy are looking in a market that is largely made up of “Crap” … not only are they unaffordable, but many have termite damage up in the framing and roof timbers, concrete cancer in the slab, drainage and waterproofing issues, faulty electrical wiring, leaky roof …. and so on!

WHERE will all this end but in tragedy not only for purchasers who will later have to meet higher mortgage repayments and expensive restoration works, but sadly for a whole Cohort of Australians denied security of a home! To be life-long tenants!

IS that the Plan? What next for the Investor class? Could that be Build-to-Rent? It would seem through these price hikes they have a Whole Cohort of Australians captured; locked out of Home Ownership!

MEANWHILE the Liberal Coalition policies also remain in tact that allow foreign buyers to buy our housing and gain permanent residency, and to launder hot money too! The Morrison Government exempted the Real Estate Gatekeepers from the AML Laws in October 2018!

RELATED ARTICLES:

https://www.dailytelegraph.com.au/subscribe/news/1/?sourceCode=DTWEB_WRE170_a_GGL&dest=https%3A%2F%2Fwww.dailytelegraph.com.au%2Fnews%2Fproperty%2Foffshore-chinese-swarm-aussie-real-estate-as-prices-boom%2Fnews-story%2F99e1fd225c1b7f0378fdeb685fedc10f&memtype=anonymous&mode=premium


SEARCH OUR WEBSITE FOR MORE REPORTS ABOUT Anti-Money Laundering Laws, MONEY LAUNDERING, SECOND TRANCHE OF THE ANTI-MONEY LAUNDERING LAWS WITH REAL ESTATE GATEKEEPERS EXEMPT ….

Here’s what the ScOmO Guvmnt can do to alleviate Rocketing House Prices …

Part 2!

THE RBA Guvnor has gone as far as he can go … and it would seem it is now up to the ScOmO Guvmnt to implement … at the very minimum … grandfathering Negative Gearing … yes, you B……s! 

In the leadup to the 2019 Election the Labor opposition proposed a policy to open the doors for First Home Buyers and others locked out of Home Ownership … without penalising Investors … they proposed GRANDFATHERING NEGATIVE GEARING!

Hence the Liberals ran a dirty scaremongering campaign … of lies as revealed in ‘Are any of the Coalition’s claims of new Labor taxes actually true?’

https://www.theguardian.com/australia-news/2019/may/14/are-any-of-the-coalitions-claims-of-new-labor-taxes-actually-true

What GRANDFATHERING means … perhaps it was beyond the grasp of some!

‘A grandfather clause (or grandfather policy or grandfathering) is a provision in which an OLD RULE CONTINUES TO APPLY to some existing situations while a new rule will apply to all future cases … ‘.

Thus it was a COMPROMISE which allowed investors to maintain their investments in ‘established’ housing, and allowed them to continue to grow their property portfolios by investing in ‘new homes‘.

This too would ensure the growth of the development sector with more homes being built; more jobs and more $. And it opened the door for Home Buyers to buy an ‘established’ home, it increased the housing supply for them!

However, now we have a predicament where HOUSING is more UNATTAINABLE! FFS!!!

AND as George writes

‘If you explain this to a CAPITALIST MINDSET, they don’t get it.  Indeed, many generally don’t understand the ramifications of NEGATIVE GEARING, because they don’t see how it affects others.

They don’t see how it would adversely affect them, actually, if suddenly their earning capacity ceases. Negative gearing is a form of TAX PERK, a bad one …. the more you earn, the greater the benefit of the perk. That sits very well with them, and so the quest for more and more …

They couldn’t give blooming rats how it affects anyone else but themselves.

Who’s to blame?  We are, of course, the *SILENT MAJORITY*😆….

Many were scared, SPOOKED!! And voted last time around for NG to stay in place!

We cannot afford to let the likes of JOSHY BOY and ScOmO scare the masses again. It is a real scourge on housing affordability …..

As the great YANIS VAROUFAKIS has said, too much emphasis is on HOUSING, and he was DEAD RIGHT. The fact that you can earn above certain brackets on the wage scale entitles you to a larger amount of the TAX PERK?

While others can’t?  Can’t even afford to buy a HOME?….😖. …oh dear me. It is MADNESS.

VIEW what Yanis Varoufakis had to say about Australia’s emphasis on Housing on

Q & A:

FRANKING CREDITS is another … a LOOPHOLE, let’s not forget that one …😫….

It is very CROOK.

READ MORE:  ‘Franking Credits: How Good is Free Money?’

So, it is the system that is broken.  I’ll say again, as a reminder … we had the opportunity to fix it, we squandered it.

To make matters even worse for us all, particularly for the down and outs, the poor people who have been suffering continually, and who were unable to recover, damaged, scared from the days of the HOWARD tenure will have to endure further taunting.  

It has been brought up on the 6.00pm NEWS, talk that the LNP under the gleeful eye of JOSHY BOY, will BROADEN THE BASE OF THE GST … or even INCREASE THE GST….👹….to recoup the losses incurred due to the Pandemic.

If ever there is a way to make QUICK BIG BUCKS for government coffers … it is the GST… a REGRESSIVE AND EVIL TAX.

Let that sink in,  I doubt very much we will be able to sleep tonight ….. It will be a BEX job.

So is the Sc.mmo Guvmnt doing anything about the Record House Price Growth?

Part 1!

Some officials from Treasury, and the RBA fronted a parliamentary committee which is looking at this mess made for Millennials who are …

less likely to own a home than at any time since 1947

In the early 1990s the cost of a house to income earnt was 2.5 times … now it is more than 6 times (and that’s for a flat) …

Then in the late 1990s the Howard Government introduced Tax Benefits of negative gearing and the capital gains tax for investors …

Now with the very low interest rates, buyers are borrowing many more times their annual salary … fuelling the price hike! 

Labor Committee member Matt Thistlethwaite rejected that the Morrison government’s schemes helped people get over the threshold of the deposit because these schemes increased the demand and prices to benefit the property sector

In June 2021 quarter prices rose 6.7%!

Thus the Morrison Government housing policies are designed to cramp supply and escalate demand … so what a surprise housing has become more unaffordable!

The Treasury Rep conceded that changes to stamp duty, and reforming zoning and planning laws could improve affordability but only marginally …

Independent Economist Saul Eslake said the key was increasing the housing stock starting with social housing, and removing the Federal Government schemes (stimulus).

-by eliminating the cash grants to home buyers that benefit the property sector

-and the tax benefits (neg gearing and CGT) that cast adrift (lock out) First Home Buyers

The RBA made it very clear that the high population growth from 2005 spiked house prices

And now the low interest rates were key!

And young people are also hindered by insecure work!

The RBA Governor on Tuesday 14 September allayed fears for borrowers because interest rates would not rise before 2024.  And that the bank is watching over lending standards …

THAT appears to be as far as the Governor can go … and what needs to happen is for the Morrison government to implement … at the very minimum … grandfathering Negative Gearing … yes, you B……s!

READ MORE FROM THIS REPORT OF DAVID TAYLOR!

‘We’re back to record property price growth, so what’s being done about it?’

https://www.abc.net.au/news/2021-09-15/house-prices-grow-what-is-being-done/100462060

More Moves Afoot … for Build-to-Rent for the Haves v Have-Nots!

A new Asset-Class for wealthy investors is emerging here in Australia …

It is with BUILD-TO-RENT, and the big boys from the United States have arrived – Greystar

Consider the way this text is worded … because it is apparent to us that a conditioning process is underway! 

WILL it become gospel? 

”… with third of Australians now deciding to rent rather than servicing mortgages, choosing instead to spend more money on their lifestyles or on alternative forms of investment.

THAT would not be because they have been locked out further by a 21% price hike during 2021 … to buy a place of their own … to have the security … and the opportunity to make it ‘their own’ … and to become a part of a community!

THAT they then seek second best to find some JOY if they possibly can after paying a hefty rent (dead money), and or working the stockmarket hoping to achieve the goal of home ownership long term perhaps?

IT is then put that ‘Increasing strains on housing affordability due to surging house prices has also driven many to consider rental accommodation.’

What choice is there if you have been locked out?

“ … and with the right policy settings there is a genuine opportunity to accelerate housing supply, create jobs and stimulate growth as we look to navigate our way out of the pandemic,” Key said.

IT appears it is not only the developers of apartment towers for sale, but now the BTR sector is selling its way into our country by enticing investors.

WITH a former staffer of the developer lobby, the Property Council of Australia – who wrote their policy before he entered politics – and who is now our PM that we now have the great scourge of the Australian political economy – HOUSING yet it is not providing home ownership for the majority!

AUSTRALIA … WE HAD IT SO GOOD! In the 1960s and until about 1991 we had 70% home ownership!

AUSTRALIA now rather than investing in green jobs, artificial intelligence and robotics like China and the United States, our wall of money is wasted on real estate!

AS said by Economist Yanis Varoufakis on last week’s ABC Q & A!

READ MORE how the BTR sector has been boosted last year by changes to land tax treatment announced by NSW and then by Victoria in its last budget … from The Urban Developer

https://www.theurbandeveloper.com/articles/greystar-approval-south-yarra-build-to-rent?utm_source=TUD+-+Daily+Briefing&utm_campaign=8fb8d19bac-EMAIL_CAMPAIGN_2021_08_11_01_49_COPY_01&utm_medium=email&utm_term=0_982c36d415-8fb8d19bac-195692726

Why are Essential Workers suffering Rental Stress and How did we get here?

TENANTS’ UNION OF NSW CHIEF EXECUTIVE LEO PATTERSON ROSS SAID:

“People are living in converted garages, in dodgy apartment buildings with illegal conversions, and all because we haven’t set up our housing system to house Australians, we’ve set it up as an investment [opportunity].”

ESSENTIAL WORKERS LIKE …

-Aged-care nurses, supermarket managers and factory workers

Checkout operators, commercial cleaners, delivery drivers and childcare workers

-Social workers, registered nurses, truck drivers and teachers

-Paramedics

THIS appalling predicament has its roots dating back to the late 1990s when the Howard Government set this in train …

… the Howard Government enticed Middle Class Chinese to invest in our Education and Real Estate to gain ‘Flexible Citizenship’ … this then led to the growth of Temporary Visas, and through investment these Visa Holders were able to gain a ‘Permanent Resident’ Visa!

The increased competition further reduced the supply and pumped up house prices locking out Australians from the prospect of home ownership … our Real Estate is awash with ‘Black Money’!

AND the Howard Government introduced Negative Gearing and Capital Gains Tax discounts which allowed wealthy investors to grow their housing portfolios of established housing at the expense of home buyers seeking an abode to live in!

In this constrained housing market obviously these Tax Benefits should only be available for ‘NEW HOUSING’ construction! 

READ MORE!  AND PLEASE SHARE!

Essential workers face rental stress right across Sydney

Australia … we used to have 70% Home Ownership!

AUSTRALIA … we used to have 70% Home Ownership …

WHAT happened to this?

WHAT is needed is HOUSING for AUSTRALIANS … with affordable BUILD-TO-RENT that allows Tenants to BUY!

… Not Foreign Billions and Housing to be marketed to even more foreign buyers with Benefits!

AND what we have learnt from our Commentators …

‘That rent to buy was what the Department of Housing used to do!

Now it’s all about profits, forcing community housing groups to do the same. It’s become a vicious nightmare of CEO’s (many in charities) receiving exorbitant wages, and Rents based on 40% of household income!

This will continue to stifle home ownership. And coupled with elderly home owners having to sell their homes to finance their aged care and then you see the whole mess for our future generations (no inheritance) for those just above the poverty line.’

CAAN: And when was the damage inflicted? It was the late 1990s when the Howard Government … John Howard scapegoated refugees (who were in relatively small numbers) as his government opened the floodgates of the backdoor to migration (with Temporary Visa Holders).

‘John Howard’s Bait-and-Switch:  Is it time for a debate on the mass immigration “Ponzi scheme”?’

https://www.news.com.au/finance/economy/australian-economy/john-howards-baitandswitch-is-it-time-for-a-debate-on-the-mass-immigration-ponzi-scheme/news-story/163e317be07822ca17641dd98415713f

Big Australia’

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

Australia went from a sustainable Permanent Migration system of 70,000 people p.a., to escalate, and prior to the Pandemic there were 2.3 MILLION Visa holders in Australia; of which 1.6 MILLION were Visa workers willing to be exploited (with inferior wages and conditions) lured by the prospect of Permanent Residency.

Who could blame them?

However, this led to high unemployment and underemployment of Australians. Those ‘unAustralian’ employers put about hateful comments like: “Australians won’t work; don’t work”.

Obviously many employers (and companies) have enjoyed the benefits of greater profits from paying such low (below Award) wages; and enjoy TAX BENEFITS contrary to those who pay full tax!

Another very poor Liberal HOWARD Government policy was the introduction of the TAX BENEFITS of NEGATIVE GEARING AND CAPITAL GAINS making HOUSING a financial asset … something you buy and sell and accumulate.

THUS the financialisation of housing that was Shelter!

Our Families locked out not only by Low Wages, and increasingly now Super Inflated Housing Prices due to the competition from those negatively gearing!

INVESTORS are buying up more housing because bank interest rates are too low to leave their money in bank accounts! And the Housing Property Market opened up for them once again with the Chinese withdrawing from their Real Estate Tours. The Chinese are still house shopping here, but have been eclipsed by the Singaporeans (70% Chinese) who have spent $20Bn in the two years to mid 2020!

What is happening with those bags full of Cash?’

Read more!
https://bit.ly/38oYLUU

Businesses in Byron Bay and other coastal towns too have felt the impact of the loss of affordable rental accommodation because they are losing their workers! The fabric of the community is falling apart!

This is due to landlords letting their properties out to short term rentals on AirBnb, and Stayz rather than leasing homes to families and singles for 6 months or more at a lower monthly rate!

Read more!

Banning AirBnb and Shipping in Portable Homes considered as Housing Crisis bites in Coastal Towns’

https://www.abc.net.au/news/2021-08-28/coastal-families-lose-homes-to-airbnb-and-owners-fleeing-cities/100380642?fbclid=IwAR0E6yvyeI3B5r14mxiXVxDSF0lXiIxaRWvgI2elUm6xljcCvWNCQ0mU7vE

AND what has been happening as we so eagerly wait for the 11.00 a.m. presser about the failure of our governments to act early to stop the spread of Covid?

UNDER THE COVER OF COVID …

The developer sector has been beavering away marketing ‘Build-to-Rent’! It has called on the Big Boys from New York!

So another investment avenue for our local Ingestors too!

‘More Foreign Billions pouring into Build-to-Rent (BTR) … ‘

https://www.theurbandeveloper.com/articles/build-to-rent-breakthrough-year?utm_source=TUD+-+Daily+Briefing&utm_campaign=e2a40c93cb-EMAIL_CAMPAIGN_6_11_2021_9_36_COPY_01&utm_medium=email&utm_term=0_982c36d415-e2a40c93cb-195692726

And …

Countdown Begins for Build-to-Rent’s Breakthrough Year’

https://www.theurbandeveloper.com/articles/build-to-rent-breakthrough-year?utm_source=TUD+-+Daily+Briefing&utm_campaign=e2a40c93cb-EMAIL_CAMPAIGN_6_11_2021_9_36_COPY_01&utm_medium=email&utm_term=0_982c36d415-e2a40c93cb-195692726

We hear often ‘We’re all in this together’… however it would seem this has another meaning … another Commentator reminded us that NSW INC raised more than $1 BILLION in Stamp Duty 2019!

See how this all ties in together!

What of the Housing Crisis Nightmare for Australians and First Home Buyers … next? As the floodgates open again to more Chinese, Singaporeans and Indian Middle Class Visa Holders ready to scoop up!

Is this too what is behind the Liberals saying: ‘Sell your Family Home … Downsize … Go Regional’… To open up more opportunities for redevelopment? For more development of high-rise … duplex … townhouses … terraces … villas and retirement villages? FFS!

How come during the Lockdowns Housing is even more expensive?

WITH recent price increases having pushed home ownership beyond the reach of EVEN more AUSTRALIANS, what will make agents desist from jacking up house prices?

Mr Lawless from CoreLogic ‘expects price growth to slow even further once lockdowns end and more people list their homes for sale.’

“You wouldn’t expect housing values to continue rising at this pace for such an extended period of time.”


And many reckon the price hikes are due to ‘cheap money and high household savings’.  But is that it entirely?

It’s got nothing to do with the role those whose job it is to sell at the highest price? And … in a time now where many other businesses are going to the wall and thousands of workers have been stood down!

IT’S about ‘Buyer Beware’ … Caveat Emptor

TIPS WHEN BUYING A HOUSE … and why if you see the following you should offer less!  Much less!

We recommend you have two private inspections (at least) if you are keen on a property.

This is a guide only to help you decide whether to proceed. And if so, immediately organise for a Building and Pest Report from an accredited Inspector, before handing over a ‘Holding Deposit’ which you will lose if you do not proceed!

Have a wander around the outside and look for:

mould growing on walls; moss on concrete slabs

.there will likely be a need for expensive drainage with surface and/or ag drains

.that will cost more if concrete paths or sandstone have to be cut to install drains

-concrete and paving, garden beds up close to the edge of the concrete slab that should be exposed (hides termite entry)

-have a look at the foundations; are they in good condition? Is there moisture? Are termite trails visible?

-some newly named ‘wealthy suburbs’ of Sydney have ground water penetrating the sandstone on which foundations are built! Oh, Mongrieff Dr!

.this may very well impact whole streets of homes built on hillsides

.and water may penetrate lower ground rooms!

-look for the meter box to see if there is a notice about a termite inspection and/or treatment; note the date

.some bushland fringe suburbs of Sydney north of Wahroongah, and the Northern Beaches are more prone to termites, and by the time of settlement 6 weeks later termites may have destroyed roof timbers! Costing $100s of thousands to restore at the buyer’s expense!

Is the house located below the level of the street?

-there could be water issues

Is there a creek at the rear and near to the property?

-if the agent says the owners have not had a flood, do your due diligence!

Inside the house

Is the house musty?

-look for mould growth it may be more than about the house being shut up!

.look into the wardrobes including the top shelves and walls to the ceiling, and other cupboards

Look for deep and or long cracks that may indicate movement, settlement

Uneven floor surfaces; movement in the floor

Or have tiles uplifted e.g. in the laundry that may indicate ‘concrete cancer’ due to the application of magnesite when

the concrete was levelled!

Is there a sewer blockage? 

Does the toilet fill up and very slowly empty?

.the sewer and stormwater may need complete replacement!

How good is the water pressure at the kitchen sink?

IF you like the property despite some of these issues organise for a Building and Pest Report that will cost $550 – $650 for both the inspection and report.

But a lot less than having to do these restorations after paying too much!

RELATED ARTICLE concerning the House Price Hikes!

READ MORE! Lockdowns push house prices even higher as new listings fall

More Foreign Billions pouring into Build-to-Rent (BTR) …

WHAT is needed is HOUSING for AUSTRALIANS … with affordable BUILD-TO-RENT that allows Tenants to BUY … Not Foreign Billions and Housing to be marketed to even more foreign buyers with Benefits! However …

UNDER THE COVER OF COVID … we have seen more reports recently about the push for BTR … 

HAS it all been part of a “Plan” with house prices having escalated 20% already into 2021 … pricing out many Australians? 

ARE they to become life-long tenants?

Our Youth are ‘a sitting shot’ because dating back to the LIBERAL Howard Government in the late 90s the policies were set in train for low wages; competition for jobs from Visa workers; foreign real estate buying sprees … with ‘Hot Money’ which led to the Housing Boom of 2001 – 2004 locking out our Youth from the housing market.

The real estate gatekeepers were exempted from the Anti-Money Laundering Laws in October 2018 by the Morrison Liberal Coalition Government; and still current!

Leading up to the Pandemic there were 2.3 Million Visa Holders in Australia of which 1.6 Million were Visa workers …

Australia has become like the United States with its ‘Working Poor’ … and the growth of homelessness …

On the other side are those with ‘Tax Benefits’ of negative gearing and capital gains; policies also dating back to the Howard years …

Investors are again swooping in on home sales

Now ‘Billions of investment dollars from around the World’ are pouring into this ‘burgeoning Build-to-Rent sector’.

The New Yorkers, no doubt, have watched how our former egalitarian society has been pulled apart.  We used to have 70% home ownership in the mid 1960s.

Home ownership for 30 – 34 year olds decreased to 50% in 2016. 

https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure

What will the 2021 Census reveal about the decline in home ownership and the rise in renting? 

At the end of August a summit on BTR is being held with New York based, Michael Streicker, the president of Sentinel Real Estate taking part. 

Streicker is, no doubt, confident in the expansion of this asset class with our families locked out of the housing market. In the United States BTR is the top investment asset class ahead of office and industrial.  

Streicker, a New Yorker, is behind the push for high immigration in Australia!!  He said: 

“The underlying drivers of demand for housing will re-emerge in the coming years as immigration resumes and renters’ expectations for premium product, amenity and service come to the fore.”

To make our families ‘life-long tenants’ to allegedly have longer tenure, and more amenity but at premium pricing!  And if they suffer some misfortune as tenants they will have no security whatsoever!

Seriously how soon can immigration resume, and at such high numbers of 2.3 Million Visa holders with the Delta variant widespread across the Globe?


The New Yorkers are looking to three to four years hence developing a pipeline to support BTR in Melbourne, Sydney, Brisbane and Perth with $1Bn investment over the next four years.

It would appear their timing is very convenient with the Building Commissioner appointed to restore community confidence in apartment developments following the Opal Tower, Mascot Towers and other defect disasters

It would seem not only investors but the apartment development and construction consortia are set to benefit yet again?  To the detriment of our families and communities …

Under the cover of COVID more than 50 BTR projects are in the pipeline, and by 2024 there will be 18,500 BTR apartments in our property market!

More Co2 emissions and the heat-island effect …

Despite a current supply shortage of materials, fittings and fixtures for the Project Home sector, how will this sector deal with more competition from BTR?  How much longer will those who have paid a deposit for a House and Land Package have to wait to build?

‘Construction Boom: Costs of House and Land Packages Blown Out!/

https://caanhousinginequalitywithaussieslockedout.com/2021/08/18/construction-boom-costs-of-house-and-land-packages-blown-out/

READ MORE!

‘Build-To-Rent Flood is Coming as Billions Pour In’

https://www.theurbandeveloper.com/articles/build-to-rent-flood-australian-pipeline

AND … https://www.afr.com/property/residential/sentinel-strides-towards-1b-build-to-rent-portfolio-20210326-p57efy

P.S. Who is Michael Streicker?

-a former board member of the Association of Foreign Investors in Real Estate  … and ?

What else apart from Low Interest Rates and Govt Grants pushed up House Prices?

WHY did house prices jump $200,000 over Christmas 2020 into January 2021?

NOW house prices have jumped $500,000 or more to August 2021 …

APART from very low interest rates and government grants that benefited builders and pushed up house prices … competition from foreign Juwai.com buyers … and investors!

WHAT ELSE CONTRIBUTED TO THE HOUSE PRICE HIKES … FOR THESE SAME AWFUL HOUSES?

WHAT role did the Realtors play in all of this?

They set the prices … there may be a charade of asking buyers ‘what price would you put on this house?’ 

After having indicated ‘The Guide’ price

How do we know any of this is so?  When it is only what they tell us!

Early 2021 agents opened a home once or possibly twice a week for home buyers to view for as little as 30 minutes at each ‘Open Home’.

That’s all …  in the house advertisement the agent may invite buyers to contact them and arrange an inspection … however when buyers contacted agents … we have learnt … they were then told that they would have to attend the ‘Open Home’; no other times could be arranged!

The ‘Open Home’ was marketed on two major real estate sites:  domain.com.au and/or realestate.com

This marketing led, in some instances, to hundreds of attendees.   This huge competition for each home would not be about creating FOMO, would it?  (FOMO = fear of missing out)

Now in COVID August 2021 agents have had to reorganise the marketing with one to one private inspections …

SO NOW Agents are running ‘Pre Auction’ Views … ‘Expressions of Interest,’ and invite Buyers to price properties … WT ****!

Not only do Buyers do most of the work searching the marketing sites of Domain or realestate.com, and drive all over Sydney and beyond, but now they are expected to price properties …

WHEN will Buyers wake up?  Why price up properties?  Because not only does it mean a bigger mortgage, but will strip one of any $$ to update, and it means more Stamp Duty

So stick to ’the Guide’!  FFS!