The NSW government has announced that expert independent planning panels will be mandatory in Sydney and Wollongong for certain developments, which some see as good news while others see as “eroding local democracy”.
Following the recent Victorian Supreme Court decision allowing Airbnb hosts and other short-term leasing sites to operate freely in Melbourne’s apartment buildings, I think that it’s about time for owners corporations to look into other solutions to protect their buildings against Airbnb strata issues and other short-term lets.
Changes to how depreciation can be claimed on residential properties, following the release of the 2017-18 federal budget, will cost some investors thousands of dollars, while potentially having a negative effect on housing affordability despite being designed to do the exact opposite, experts warn.
Sydney End of the market upswing. Now being constrained by buying and rental affordability, plus low rental yields. Yet, sales demand still exceeds resale supply. New housing supply remains relatively tight.
In the current investment space, there’s been much rhetoric surrounding housing affordability and the ways in which the government will curb investor interest with changes to policy. Listen to the The Smart Property Investment Show podcast.
Sydney’s vacancy rate held steady in April at only 1.7 per cent, indicating there are supply constraints in the rental property market.
Based on the relationship between demonstrated housing demand and advertised stock levels we are seeing relatively more stock available for sale compared to demand for that stock across the capital cities at the moment.
Australia’s richest man says keeping foreign buyers out of the country and other cooling demand measures are not long-term answers to housing affordability.
With many suggesting this is a complete political backflip by the government, the change in approach will have an impact on many Australians – nonetheless real estate businesses [and the people behind them].
The Rentberry app, tipped for launch in Australia later this year, has been slammed by tenant unions as an impending “disaster” for rental prices.