BTR News Australia’s Post

Back in the year 2000, there were 6.4 million people in NSW. Now, there are 8.4 million people, according to the Australian Bureau of Statistics (ABS). So you'd think the number of homebuilding approvals would have significantly increased during that time. But not so. In April 2024, only 3,467 building approvals were issued, according to the ABS – lower than the April 2000 figure (4,038) and the average since the turn of the century (3,992). That suggests the amount of new housing in the pipeline is not enough to keep pace with our state’s fast-growing population. If demand continues to run ahead of supply, we can expect property prices and rents to continue increasing in Sydney and NSW. If you’re interested in buying a property in NSW, contact me on benhawley@azurafinancial.com.au or 0413 766 888. #homeloans #property #NSW

The Housing Industry Association (HIA) warns that regional Australia could face worsening housing shortages without faster home approvals, as planning processes are taking longer than ever. #buildingapprovals #Councilplanning #housingcrisis #housingindustryaustralia #buildapprovals #newbuilds #PlanningProcess #planningreform #regionalaustralia #rentalmarket #rentalshortages

Australia not building enough home: minister 🏗️😟🏡 Federal housing minister Clare O’Neil has delivered strong words about housing supply and affordability. “Australia is in the middle of a housing crisis which has been decades in the making,” she said in a speech to the AFR Property Summit. “This chart shows us that incomes and house prices were diverging in the 1980s, and that this problem accelerated acutely from the late 1990s. At the turn of the century, the median household price was about 4 times average incomes. Today it is nearly 8 times. “Why have prices gone up in this way? Because for a long, long time in our country, we have not been building enough homes.” Minister Clare O’Neil said Australia has less housing per person than comparable countries, such as Canada, the UK and France. “Fewer homes means less affordable housing. Because the same number of buyers and renters are spread across fewer homes. It sounds trite – but what happens when we build more homes? Housing becomes more affordable.” The federal government is aiming to facilitate the building of 1.2 million homes in the five years from July 2024, but many experts believe it will struggle to achieve its target. LMS Takeaway - Knowing population will continue to increase faster than we can build new homes, how can you position yourself to capitalise on the trend? When demand exceeds supply, prices will continue to rise. Buying a house today will always be the most affordable time to buy. If you'd like to build a strategy around this, contact us today. #property #realestate #buildingandconstruction #realestateaccountants

Australia is already falling behind its ambitious housing targets with just 43,247 homes constructed in the September 2024 quarter, according to the latest Australian Bureau of Statistics data. To hit the federal government’s target of 1.2 million new homes constructed by 2029, 60,000 homes need to be built each quarter. Yet, three months in, we are already 15,000 homes behind schedule. The Northern Territory is struggling the most, achieving only 21.4% of its target. Victoria is performing closer to plan but is still 0.1% below its quarterly target of 15,316 homes (see image). The Property Council’s Matthew Kandelaars said the target provides valuable transparency, helping highlight which areas are falling behind. “If we don’t start as we intend to finish, we’ll be kicking into a gale at the final break – making the job near impossible. There’s no time to waste and we can’t afford to slip any further behind,” he said. Fewer homes being built now could exacerbate housing pressures in the future, potentially driving up prices and making it even harder for Australians to find affordable housing.

In our latest piece, we discuss the challenges relating to Australia’s rising property prices and high interest rates particularly for young people and first-time buyers. However, targeted government action can improve affordability and access. Read here: https://lnkd.in/gnzGqB2m Rami Abdallah #WeAreRealEstate #Housing #Homeownership

NEW HOUSING SUPPLY Contrary to the persistent gum flapping of the federal and all state governments about significantly ramping new home #construction, the volume of residential #land sales right across Australia is actually softening. As for the price to buy a standard block of land, a report compiled by Housing Industry of Australia (HIA) confirms that the large influx of overseas migrants into #Sydney and #Melbourne has *not* contributed to a spike in land values. “#Perth, #Brisbane and #Adelaide are currently sitting in the fast lane of growth in residential land prices with double-digit annual increases. #Hobart grew by 2.4 percent over the year, Sydney remained flat, while prices in fact fell in Melbourne compared to the previous year,” said HIA. #propertymarket #housingsupply #realestate #propertyology #buyersagents https://lnkd.in/gpSE-2dw

🏠 Australia's Housing Crisis Housing development approval waiting times have blown out to four months in Victoria and NSW, exacerbating the housing supply crisis and driving up rents and house prices. Federal Treasury's new analysis reveals that state and local council agencies in Victoria and NSW have the slowest approval processes in Australia, averaging 144 and 114 days respectively. Australia's supply of new homes is lagging globally, ranking 23rd out of 33 OECD countries for dwellings per 1000 people. While comparable countries are adding more homes, Australia's small rise in home building has failed to keep pace, partly due to a historical preference for larger stand-alone houses over apartments. #HousingCrisis #PropertyMarket #RealEstate

Faster housing transactions are inarguably the best for everyone – Heathcote https://lnkd.in/e2ww7JHa #housing #housingtransactions

💡 𝗧𝘂𝗿𝗻𝗲𝗿 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 💡 Last week our CEO, Emma Slape, spoke with The Real Estate Conversation regarding the pressing issue of Australia's housing shortage. The Business Council of Australia warns we’re far from meeting our housing targets – aiming for nine homes per 1,000 people annually, yet only building six. What does this mean for the future of Australian property and the property market? Read the full article below where Emma speaks about what this means as a buyer and seller, insights into it's affect on the current market and what needs to be done 👇 https://lnkd.in/gCjsCZyt #TurnerRealEstate #Insights #Property #Market

A new survey highlights Australia’s housing crisis, with over half of renters feeling they have no choice but to rent and 40% doubting they’ll own a home within five years. The Property Council of Australia, alongside key housing groups, is urging the Senate to pass critical build-to-rent (BTR) legislation. This proposed bill could add 105,000 rental homes, including 10,500 affordable options, over the next decade. Support for the BTR legislation is strong, especially among renters. If passed, it promises secure, affordable rental options and long-term solutions for Australia’s housing shortage. Read more here: https://lnkd.in/gM44mbdC via Property Council of Australia #HousingCrisis #BuildToRent #AffordableHousing #PropertyCouncilAustralia #PlannedResources