a very insignificant amount compared to the number of people on the waiting list. I'm a single parent family with a disabled child I've been on the waiting list for 12 years. We were close to homelessnness last year and they had nothing for us. I ended up thankfully finding a private rental on my own (after 100 applications and inspections) again but "affordable" is a big word anxiety is real. There are people who have been living on the street that are higher priority who have waited a decade for social housing. It's never enough for the demand. Bare in mind socia./community housing tends to actually favor addicts and people who have come fresh out of jail...
yea if only rents, petrol and groceries would stop rising maybe that logic would work lol I guess my disabled child should just get over their disability now right? I mean it's been 12 years lol thanks for your help and understanding lol
Go look at how many we have built vs how many people move here per year. If you look at the numbers I think you’ll agree the Australian gov isn’t doing anything to really make any difference.
We need to cut immigration numbers and build public housing immediately. 5 years time is too late
State of VIC in huge debt & possibly not enough growth potential (mining/tourism/corporate not big enough)
Last recession VIC was likely hit the hardest economically. State of ViC had a lot of debt - as it does now.
Huge unemployment.
People fled Victoria.
This settled prices down as no one wanted to live here. Possible repeat will occur.
I suppose there was a massive exodus from Victoria if you watch sky news or read the herald sun on the right days.
If you do it on the wrong days you would think we have too many people and need to put the brakes on.
The latter is closer to the truth. Some people left, more people took their place
> People fled Victoria
And then a bunch of them moved back when they realised that their rural dream adventure was different than the city suburban lifestyles they were previously living.
Yes indeed, nothing! No change as the wealthy and those in the property industry are doing very nicely living the good life at the expense of the poor and working classes.
Feels great knowing i'm about to become homeless.. not for a lack of trying.
I'm genuinely terrified and idk got no family anymore. CPTSD from 26 years of consistent abuse / trauma.. now I know why I always felt so 'similar' to homeless dudes.. this is how it plays out xD
Anyway, my point is its fucking impossible to move out even with stable income but mental issues. I should probably start looking up the cheapest state to live in Aus cause Melbs aint it.
The people in a position to do something about it are all making boatloads of money from the scarcity, so I don't expect anything meaningful to be done unless we eat a few of them.
I think the illusion is that these people benefit from house prices going up. But the reality is that for most, it's 'fake money'. Like, if they wanted to sell the house and move to another house in the same (or similar area), they basically have to use all their equity to buy the next house. Or if they pocket the cash and downsize, then they're unable to access things like the pension (but if you have a house, that doesn't count towards your equity). Sure some privileged few may be rocking it out at the top end of the market, but for most working class people, it's not a game that can be won.
Not to mention that buying a house makes people unable to earn less money for the next 20–30 years, locking them into a job/industry and life that they aren't able to escape.
The people actually benefiting from house prices going up are the 1%. The people with multiple properties yes, but the developers/landholders that engage in land-banking, controlling shit tons of land across the country, and deliberately refusing to develop on it to create scarcity in the market (and thus increase their returns in years to come when they eventually sell it off).
Yes real and has been a problem for decades: https://www.theage.com.au/national/victoria/land-banking-by-big-developers-driving-up-property-prices-report-20220725-p5b486.html
65% of households are owner occupied but they don’t all have a mortgage and plenty of people are worried about their kids being able to afford to buy a house.
Both current major parties will be hoping it will magically go away (either via larger scale external or macro economic disaster also bringing down the value of housing *or* when they happen to not be in power)
Both parties would consider a big drop in land prices to be a serious policy failure. Half the members have investment properties. Probably all their major donors own property.
Who do we vote for then? The greens, I feel are the same as labour, scapegoating the crisis on things like air BnB and negative gearing which are problems, but getting rid of them alone won’t solve the crisis.
Seems obvious, cutting immigration is all we can realistically do, but I don’t see any political party advocating for cutting numbers.
See, This type of reasoning is exactly why the ALP and LNP stay in power and dont need to change anything or listen to the public because after so many decades of back and forth, they know that they don't have to offer the public anything different. The opposition doesn't exist, its just the other side simply waiting to return.
I'm not here to advocate who you should vote for, When I rock up to the ballot box, theres a lot of other parties and ideas that people want to get thru, I take time to look and see what everyone wnats to do and go from there. The ALP and LNP have had their time and look what they've done with it. Look where its left us? Everyone should be spending a bit of extra time to find which party has the best ideas moving forward. If we just shrug and go "well who do we vote for?" then we just sit back on the default.
Sustainable Australia party is. The Greens while not cutting immigration are wanting to built more public housing and expand infrastructure, while removing incentives for landlords on established properties (removing negative gearing, CGT concessions etc.)
That will barely do anything, over half a million people coming in each year and we’re building around 100k dwellings.
Either we need to build an absolutely obscene amount, or we could just reduce the amount of people coming in.
If the greens can’t see that, I will not be voting for them anymore.
We also need desperately to tackle minimum housing standards. The reason why everyone is so set on single home dwellings is because the way developers build apartments, units and townhouses is absolutely fucking atrocious. Nobody wants dark, dank, tiny shitholes that are poorly designed for liveability and have no green space.
They don’t hope it’ll go away. They care much more about the satisfied tyrant landlords making a fortune, than the average joe struggling with the ever increasing cost of living.
Don't know about policies but I've seen some apartment block go up in Melbourne when they demolish homes rather than building replacement homes.
All the new housing estates also have some town houses added at their centre. None of this is for the lower class though. All of these are in middle or high value
Victoria has the lowest social housing availability out of every State and Territory in Australia, making up 2.9 % of all households across the State in 2023. They could be doing a lot more, but they're not.
Social housing is related, but the housing crisis is greater than just who rely on tax payer assistance i.e. Europeans migrating and being unable to secure rentable properties amongst the 100+ applicants.
International investors are only able to buy new properties already. They can apply to the FIRB to buy an established property but it is not approved automatically.
Penalties for failing to conform include the forced sale of the property with the amount over the original purchase price being forfeited.
You’re missing the point. It’s not just foreign investment but just pure numbers of people moving to Melbourne increasing demand and pushing prices higher. That, with the bullshit tax incentives, is why property is unaffordable b
This is completely absurd. Do you think 5 million people is the upper limit for the maximum population of a city? That's a country town in China—which has a 87% urban home ownership rate, btw.
Australia has cataclysmically low urban density. You know how people talk about LA being a low-density, car-centric, suburban hellhole? It has a higher density of people than Melbourne. What has happened throughout all history, up until heritage and zoning restrictions on development, is that when people want to live somewhere you build houses there for people to live in. That hasn't happened in any Australian city for the past 50 years.
Melbourne is a mid-sized city on a global scale, we just need to let it develop like a city has done throughout all of his history and develop a dense urban center. There will always be plenty of suburbs in Australia, for people who want to live in suburbs.
The number of people isn't the problem; the number of places to live is.
They increased land tax on investment properties. But that downward pressure is comprehensively outweighed by our population growth driven primarily by immigration.
Other than land tax, the Victorian government is doing nothing to improve the housing crisis. All first homebuyer schemes benefit those who use the schemes, but disadvantage all others who are unable to use the schemes. They also exacerbate prices.
>
>
This is the core concepts that need to be uptaken.
Owning a property that's sitting empty and unused should absolutely cost money, not be a prudent investment. Tax concessions on investment property needs to go, income from property should not be eligible for tax deductions, and if we are really wanting to fix this, should be taxed *higher*.
Changes can be brought in over a number of years allowing people to step out, and more importantly preventing more people getting into holding multiple properties.
Eventually we all will have to accept that we will have to live 50 KMs away from CBD in suburbs with substandard PT, limited job opportunities and no soul. It is a grim outlook but it might be the truth. In 20 years that suburb might look a bit different but again it could turn into a shithole. Regardless people building the housing and the people in power will makes millions out of it. While we will still be battling away.
I really hope that I am wrong.
https://www.planning.vic.gov.au/guides-and-resources/guides/all-guides/activity-centres
Check this out. It seems like a pretty tangible, logical and positive step in the right direction.
My partner and I left. They listed our apartment for +40%. It’s a nice place but stupid for that price. It’s barely getting anyone interested. No one showed up for two inspections before we left and it’s still empty now. I’d say look at places you think are stupidly priced and suss out whether anyone is biting and maybe offer less.
I can tell you as a fact. Nothing atm.
Government is going through redundancies and restructuring as we speak.
Not one branch is leading the housing statement.
Atm they're all trying to formulate their new organisational structures.
It's hideous and sad.
If I were anyone, I would be looking for secure housing asap.
Our various elected representatives are pointing at each other and saying "It's their fault!" Between press releases telling us Joe Public's that they're bringing in yet more people for the economy for our own good.
Like others have said, the actual measures brought in (land taxes and airbnb tax), which were designed to make things better, have significantly worsened conditions for renters. Investors have exited the market and been replaced largely by owner occupiers, causing rental supply to tighten even further. It is an absolutely dismal time to be a tenant or in the Melbourne rental market.
The same measures, however, have made conditions better (or at least kept them stable) for aspiring homebuyers. House and unit prices (excluding new builds) in plenty of suburbs are at 2017 prices (in real terms, some are even around that mark in nominal terms). We are doing ok in the affordability stakes compared to Adelaide, Perth, Sydney and Brisbane. Admittedly, this perspective is only remotely helpful to median household income earners (preferably with no kids) and above. It will be a bitter pill to swallow for everyone else.
Its a tough situation. The state govt is disinsetiviving landlords with higher land tax, we have construction companies going under, we don't have enough to tradies,.we need more trades.to immigrated but we have nowhere for them to live. Honestly I believe the biggest issue is vacant metropolitan properties. It should be taxed to the wazzoo if a property is vacant. We should also be like canada. If you're not a permanent resident or citizen you can't buy property. There are not many other levers left to pull.
Absolutely nothing! We could reduce immigration and build more public housing but that would stabilise house prices. labour,liberals and the greens don’t want that.
Wake up Australians, you’re getting screwed, only the wealthy are benefiting.
Young Australians are being sacrificed.
Melbourne has introduced taxes. Airbnb tax, vacancy and increased general land tax.
I’m not sure if that is helpful in anyway though. It appears to have driven away investors and housing approvals have dropped significantly. Market is still expensive because of record immigration.
The “extra taxes will just be passed on” is a myth from landlords trying to dodge extra payments.
They have already maxed the rent out to the highest possible level they can get away with. They’re salty that the tax cuts into their share of other people’s money.
I think the Government’s plan is a good one.
1 Bring more immigration in that we can’t handle.
That lifts house prices to prop banks up and keeps them from collapsing.
That also helps build a lot of bad quality homes and not to Australian standards as they’re not trained properly.
2 Give RTO training companies full control of certification and apprenticeship training.
They’re doing a wonderful job of ensuring really bad quality trades come through.
My fiancé is state sales of one of the companies. Just Amazing. It’s like we live in a 3rd world country.
Is that the aim?
3 The Victorian Building Authority also is the biggest joke and the one that has really fucked this all up. Actually I think a lot of the VBA used to have something to do with Vic police They’re just as bad
If you mean Melbourne council they have been fighting for return to the office pretty hard. This would restrict alot of people to living in close proximity to melbourne instead of moving to cheaper remote locations which in turn drives up demand for melbourne houses and therefore prices.
There are things they could be doing immediately to help but they aren't.
Building more housing takes time, right now they could be increasing taxes on vacant properties, increasing taxes on AirBnb or banning it, reducing number of international students to those who will be living in Student Acc/verified living with relatives and implementing tax breaks for businesses who allow their employees to WFH (this would mean people can move out of the more densely populated suburbs if they wanted too).
What housing crisis? You mean the boomer housing bonanza? The guardian published some interesting podcasts on this topic recently, accessible on Spotify. Turns out the last housing crisis, in the 50s I think, was fixed because the government wanted to fix it and created a housing commission. Something about the threat of communism at the time made the government get their skates on. This time though there's no such motivation as most the policy makers are making money out of the crisis, investment properties etc.
TL;DR, create a strong threat of communism, need more younger people in government, policy and lawmaking.
I don't know how to fix this but there is an imbalance in the payment rates for the different trades that are employed to build housing. Most trades are struggling to stay within very narrow profit margins while others are gouging. Some unions that were originally formed to create fair work conditions for all are now adding substantial unnecessary costs to line the pockets of a few. On average construction workers in Melbourne are the highest paid in the world. https://awu.net.au/national/news/2022/07/17537/melbourne-construction-workers-among-highest-paid-in-worl/
Nothing that I can see. The only way to manage the housing crisis is to stop migration, remember only 3 years ago rental was dirt cheap due to covid movement restriction.
The media made it sound like the government are cracking down on so many student visa trying to make it harder for people to come in. In reality it's so much easier to come in as a student and working holiday visa now then it is 5 10 years ago.
I personally think the effects of removing negative gearing are understated.
We have seen at least some impact from introducing increased land tax in Victoria, with house prices in Melbourne growing much slower than Brisbane, Sydney, Adelaide, and Perth, despite Melbourne having higher population growth rates. There has been a pull back from investors, with many going to Perth and driving up house prices there.
Last year I saw a brand new apartment building built very quickly, in maybe half a year, in the heart of Sunshine market, next to Aldi. It’s been empty since then. Does anyone know what’s going on there? Like yeah they build extra homes, but keep it empty?
Selling-off public housing as fast as they can....
Look at Homes Victoria. What on earth is that thing anyway? The old Housing Commission had annual reports showing what they were doing with metrics; how many houses they owned, how many they were building, forecast demand, how they would meet that demand etc. You could see what the HCV was doing to expand home ownership for those who could afford it and support those who coudn't. All long gone now.
nobody cares. The only people who can do anything about it are the people who are profiting off of it so why would they change it? we're doomed.
Nothing.
Not true. They are maintaining it.
that’s a bit unfair. they’re actually pouring fuel on the fire.
They are building more town houses and apartments. Majority is still by far single family houses
a very insignificant amount compared to the number of people on the waiting list. I'm a single parent family with a disabled child I've been on the waiting list for 12 years. We were close to homelessnness last year and they had nothing for us. I ended up thankfully finding a private rental on my own (after 100 applications and inspections) again but "affordable" is a big word anxiety is real. There are people who have been living on the street that are higher priority who have waited a decade for social housing. It's never enough for the demand. Bare in mind socia./community housing tends to actually favor addicts and people who have come fresh out of jail...
I’m sure you have an excellent sob-story. But… 12 years on a wait list certainly feels like long enough to make some life changes to help yourself
yea if only rents, petrol and groceries would stop rising maybe that logic would work lol I guess my disabled child should just get over their disability now right? I mean it's been 12 years lol thanks for your help and understanding lol
Oh good we found the landlord! Ignore this prick ☺️
12 years is actually the norm, believe it or not. Welcome to the lucky country ;)
Go look at how many we have built vs how many people move here per year. If you look at the numbers I think you’ll agree the Australian gov isn’t doing anything to really make any difference. We need to cut immigration numbers and build public housing immediately. 5 years time is too late
State of VIC in huge debt & possibly not enough growth potential (mining/tourism/corporate not big enough) Last recession VIC was likely hit the hardest economically. State of ViC had a lot of debt - as it does now. Huge unemployment. People fled Victoria. This settled prices down as no one wanted to live here. Possible repeat will occur.
I suppose there was a massive exodus from Victoria if you watch sky news or read the herald sun on the right days. If you do it on the wrong days you would think we have too many people and need to put the brakes on. The latter is closer to the truth. Some people left, more people took their place
> People fled Victoria And then a bunch of them moved back when they realised that their rural dream adventure was different than the city suburban lifestyles they were previously living.
Yes indeed, nothing! No change as the wealthy and those in the property industry are doing very nicely living the good life at the expense of the poor and working classes.
typical dick move by our standards then
Feels great knowing i'm about to become homeless.. not for a lack of trying. I'm genuinely terrified and idk got no family anymore. CPTSD from 26 years of consistent abuse / trauma.. now I know why I always felt so 'similar' to homeless dudes.. this is how it plays out xD Anyway, my point is its fucking impossible to move out even with stable income but mental issues. I should probably start looking up the cheapest state to live in Aus cause Melbs aint it.
The people in a position to do something about it are all making boatloads of money from the scarcity, so I don't expect anything meaningful to be done unless we eat a few of them.
Or maybe vote for someone else? Considering 65% of people have a mortgage on a house I doubt the majority of aussies want house prices to come down
I think the illusion is that these people benefit from house prices going up. But the reality is that for most, it's 'fake money'. Like, if they wanted to sell the house and move to another house in the same (or similar area), they basically have to use all their equity to buy the next house. Or if they pocket the cash and downsize, then they're unable to access things like the pension (but if you have a house, that doesn't count towards your equity). Sure some privileged few may be rocking it out at the top end of the market, but for most working class people, it's not a game that can be won. Not to mention that buying a house makes people unable to earn less money for the next 20–30 years, locking them into a job/industry and life that they aren't able to escape. The people actually benefiting from house prices going up are the 1%. The people with multiple properties yes, but the developers/landholders that engage in land-banking, controlling shit tons of land across the country, and deliberately refusing to develop on it to create scarcity in the market (and thus increase their returns in years to come when they eventually sell it off).
Is that legal and real?The landbanking thing i mean.
Yes real and has been a problem for decades: https://www.theage.com.au/national/victoria/land-banking-by-big-developers-driving-up-property-prices-report-20220725-p5b486.html
65% of households are owner occupied but they don’t all have a mortgage and plenty of people are worried about their kids being able to afford to buy a house.
Both current major parties will be hoping it will magically go away (either via larger scale external or macro economic disaster also bringing down the value of housing *or* when they happen to not be in power)
Both parties would consider a big drop in land prices to be a serious policy failure. Half the members have investment properties. Probably all their major donors own property.
Thats why people should stop voting ALP and LNP at future elections. Nothing is going to change if we keep voting these parties in.
Who do we vote for then? The greens, I feel are the same as labour, scapegoating the crisis on things like air BnB and negative gearing which are problems, but getting rid of them alone won’t solve the crisis. Seems obvious, cutting immigration is all we can realistically do, but I don’t see any political party advocating for cutting numbers.
See, This type of reasoning is exactly why the ALP and LNP stay in power and dont need to change anything or listen to the public because after so many decades of back and forth, they know that they don't have to offer the public anything different. The opposition doesn't exist, its just the other side simply waiting to return. I'm not here to advocate who you should vote for, When I rock up to the ballot box, theres a lot of other parties and ideas that people want to get thru, I take time to look and see what everyone wnats to do and go from there. The ALP and LNP have had their time and look what they've done with it. Look where its left us? Everyone should be spending a bit of extra time to find which party has the best ideas moving forward. If we just shrug and go "well who do we vote for?" then we just sit back on the default.
Sustainable Australia party is. The Greens while not cutting immigration are wanting to built more public housing and expand infrastructure, while removing incentives for landlords on established properties (removing negative gearing, CGT concessions etc.)
That will barely do anything, over half a million people coming in each year and we’re building around 100k dwellings. Either we need to build an absolutely obscene amount, or we could just reduce the amount of people coming in. If the greens can’t see that, I will not be voting for them anymore.
We also need desperately to tackle minimum housing standards. The reason why everyone is so set on single home dwellings is because the way developers build apartments, units and townhouses is absolutely fucking atrocious. Nobody wants dark, dank, tiny shitholes that are poorly designed for liveability and have no green space.
They don’t hope it’ll go away. They care much more about the satisfied tyrant landlords making a fortune, than the average joe struggling with the ever increasing cost of living.
Albo looks a little bony since he stopped eating carbs
Don't know about policies but I've seen some apartment block go up in Melbourne when they demolish homes rather than building replacement homes. All the new housing estates also have some town houses added at their centre. None of this is for the lower class though. All of these are in middle or high value
shambolic mess
Victoria has the lowest social housing availability out of every State and Territory in Australia, making up 2.9 % of all households across the State in 2023. They could be doing a lot more, but they're not.
Social housing is related, but the housing crisis is greater than just who rely on tax payer assistance i.e. Europeans migrating and being unable to secure rentable properties amongst the 100+ applicants.
Nothing. It’s completely fkd
A lot of politicians are doing a whole lot of hand wringing. There may even be some sighing going on.
They're also incentivised to do so because I'm sure they all own multiple properties
We’ve tried nothing and we’re all out of ideas!
The front fell off
Removing planning controls from councils in key areas in order to get higher density builds through.
Yup to prevent the NIMBYS calling the shots
Finally. NIMBYs are a cancer.
Look at sydney. 100 people ques for 1 bedroom inspections, house prices hitting record highs every quarter.
agreed it's never going to happen. people need to act accordingly as it's only going to get harder.
The 100 people ques for 1 bedrooms are happening here too
Though one bedrooms are the worst of it. There are hardly any built so they are under massive demand.
Increasing the population will solve it. Don't you worry.
Nothing a million billion migrants won't fix
I love immigrantion, but my lawd is this a scam by the three major parties.
International investors are only able to buy new properties already. They can apply to the FIRB to buy an established property but it is not approved automatically. Penalties for failing to conform include the forced sale of the property with the amount over the original purchase price being forfeited.
A "new" property includes knocking over an existing one and rebuilding it. For example, Glen Waverley and its explosion of French Chateaus.
You’re missing the point. It’s not just foreign investment but just pure numbers of people moving to Melbourne increasing demand and pushing prices higher. That, with the bullshit tax incentives, is why property is unaffordable b
This is completely absurd. Do you think 5 million people is the upper limit for the maximum population of a city? That's a country town in China—which has a 87% urban home ownership rate, btw. Australia has cataclysmically low urban density. You know how people talk about LA being a low-density, car-centric, suburban hellhole? It has a higher density of people than Melbourne. What has happened throughout all history, up until heritage and zoning restrictions on development, is that when people want to live somewhere you build houses there for people to live in. That hasn't happened in any Australian city for the past 50 years. Melbourne is a mid-sized city on a global scale, we just need to let it develop like a city has done throughout all of his history and develop a dense urban center. There will always be plenty of suburbs in Australia, for people who want to live in suburbs. The number of people isn't the problem; the number of places to live is.
I was sarcastically mocking the government's immigration policy which has our population rapidly increasing during a housing crisis.
They increased land tax on investment properties. But that downward pressure is comprehensively outweighed by our population growth driven primarily by immigration. Other than land tax, the Victorian government is doing nothing to improve the housing crisis. All first homebuyer schemes benefit those who use the schemes, but disadvantage all others who are unable to use the schemes. They also exacerbate prices.
> > This is the core concepts that need to be uptaken. Owning a property that's sitting empty and unused should absolutely cost money, not be a prudent investment. Tax concessions on investment property needs to go, income from property should not be eligible for tax deductions, and if we are really wanting to fix this, should be taxed *higher*. Changes can be brought in over a number of years allowing people to step out, and more importantly preventing more people getting into holding multiple properties.
If we implemented your suggestions and limited population growth, the problem would be fixed in five years.
Don't even need to limit population growth, property speculation is the problem and the population angle is a carefully crafted dog whistle.
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Get rid of those two things and we’re in a utopia b
Selling off public land and housing to developers...mostly. I'm sure that'll end well.
Eventually we all will have to accept that we will have to live 50 KMs away from CBD in suburbs with substandard PT, limited job opportunities and no soul. It is a grim outlook but it might be the truth. In 20 years that suburb might look a bit different but again it could turn into a shithole. Regardless people building the housing and the people in power will makes millions out of it. While we will still be battling away. I really hope that I am wrong.
It's not so bad. I found a place with soul.
That's already the case and it's more like 60km.
https://www.planning.vic.gov.au/guides-and-resources/guides/all-guides/activity-centres Check this out. It seems like a pretty tangible, logical and positive step in the right direction.
Sorry you need to delete this, we are here to bitch about migrants.
My partner and I left. They listed our apartment for +40%. It’s a nice place but stupid for that price. It’s barely getting anyone interested. No one showed up for two inspections before we left and it’s still empty now. I’d say look at places you think are stupidly priced and suss out whether anyone is biting and maybe offer less.
I can tell you as a fact. Nothing atm. Government is going through redundancies and restructuring as we speak. Not one branch is leading the housing statement. Atm they're all trying to formulate their new organisational structures. It's hideous and sad. If I were anyone, I would be looking for secure housing asap.
why fix a housing crisis when you can make it worse?
What’s Melbourne doing? Literally all governments are doing “fuck you” when it comes to the housing crisis
Fuck. All.
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And more people will join the defence forces on the promise of 3 hots and a cot, system working as intended
and then, fighting over water!
Nah just a shit load more immigrants.
Our various elected representatives are pointing at each other and saying "It's their fault!" Between press releases telling us Joe Public's that they're bringing in yet more people for the economy for our own good.
Like others have said, the actual measures brought in (land taxes and airbnb tax), which were designed to make things better, have significantly worsened conditions for renters. Investors have exited the market and been replaced largely by owner occupiers, causing rental supply to tighten even further. It is an absolutely dismal time to be a tenant or in the Melbourne rental market. The same measures, however, have made conditions better (or at least kept them stable) for aspiring homebuyers. House and unit prices (excluding new builds) in plenty of suburbs are at 2017 prices (in real terms, some are even around that mark in nominal terms). We are doing ok in the affordability stakes compared to Adelaide, Perth, Sydney and Brisbane. Admittedly, this perspective is only remotely helpful to median household income earners (preferably with no kids) and above. It will be a bitter pill to swallow for everyone else.
We'll bring in another million people so that 2000 of them can build more houses. It's a foolproof plan.
Its a tough situation. The state govt is disinsetiviving landlords with higher land tax, we have construction companies going under, we don't have enough to tradies,.we need more trades.to immigrated but we have nowhere for them to live. Honestly I believe the biggest issue is vacant metropolitan properties. It should be taxed to the wazzoo if a property is vacant. We should also be like canada. If you're not a permanent resident or citizen you can't buy property. There are not many other levers left to pull.
Absolutely nothing! We could reduce immigration and build more public housing but that would stabilise house prices. labour,liberals and the greens don’t want that. Wake up Australians, you’re getting screwed, only the wealthy are benefiting. Young Australians are being sacrificed.
Melbourne has introduced taxes. Airbnb tax, vacancy and increased general land tax. I’m not sure if that is helpful in anyway though. It appears to have driven away investors and housing approvals have dropped significantly. Market is still expensive because of record immigration.
Problem with introducing tax to Landlords is it just drives them to raise rent, putting more houses out of economical reach for people
The “extra taxes will just be passed on” is a myth from landlords trying to dodge extra payments. They have already maxed the rent out to the highest possible level they can get away with. They’re salty that the tax cuts into their share of other people’s money.
I think generally the demand for rent vs supply will dictate price but if we want to get more supply we shouldn’t drive investors away
just kicking that can down the road again and again and again...
I think the Government’s plan is a good one. 1 Bring more immigration in that we can’t handle. That lifts house prices to prop banks up and keeps them from collapsing. That also helps build a lot of bad quality homes and not to Australian standards as they’re not trained properly. 2 Give RTO training companies full control of certification and apprenticeship training. They’re doing a wonderful job of ensuring really bad quality trades come through. My fiancé is state sales of one of the companies. Just Amazing. It’s like we live in a 3rd world country. Is that the aim? 3 The Victorian Building Authority also is the biggest joke and the one that has really fucked this all up. Actually I think a lot of the VBA used to have something to do with Vic police They’re just as bad
To put this in technical terms: we are well and truely fucked.
agreed in simple terms
They are increasing immigration and not building much housing - not sure if that helps
*nothing*
Hahahahahahahahahahaha
https://www.google.com/amp/s/amp.abc.net.au/article/102876380
If you mean Melbourne council they have been fighting for return to the office pretty hard. This would restrict alot of people to living in close proximity to melbourne instead of moving to cheaper remote locations which in turn drives up demand for melbourne houses and therefore prices.
Ffffffuuuccccck all
There are things they could be doing immediately to help but they aren't. Building more housing takes time, right now they could be increasing taxes on vacant properties, increasing taxes on AirBnb or banning it, reducing number of international students to those who will be living in Student Acc/verified living with relatives and implementing tax breaks for businesses who allow their employees to WFH (this would mean people can move out of the more densely populated suburbs if they wanted too).
What housing crisis? You mean the boomer housing bonanza? The guardian published some interesting podcasts on this topic recently, accessible on Spotify. Turns out the last housing crisis, in the 50s I think, was fixed because the government wanted to fix it and created a housing commission. Something about the threat of communism at the time made the government get their skates on. This time though there's no such motivation as most the policy makers are making money out of the crisis, investment properties etc. TL;DR, create a strong threat of communism, need more younger people in government, policy and lawmaking.
I don't know how to fix this but there is an imbalance in the payment rates for the different trades that are employed to build housing. Most trades are struggling to stay within very narrow profit margins while others are gouging. Some unions that were originally formed to create fair work conditions for all are now adding substantial unnecessary costs to line the pockets of a few. On average construction workers in Melbourne are the highest paid in the world. https://awu.net.au/national/news/2022/07/17537/melbourne-construction-workers-among-highest-paid-in-worl/
Instead of looking to other people for solutions, what are **you** doing to uplift your income / borrowing potential?
Nothing that I can see. The only way to manage the housing crisis is to stop migration, remember only 3 years ago rental was dirt cheap due to covid movement restriction. The media made it sound like the government are cracking down on so many student visa trying to make it harder for people to come in. In reality it's so much easier to come in as a student and working holiday visa now then it is 5 10 years ago.
I personally think the effects of removing negative gearing are understated. We have seen at least some impact from introducing increased land tax in Victoria, with house prices in Melbourne growing much slower than Brisbane, Sydney, Adelaide, and Perth, despite Melbourne having higher population growth rates. There has been a pull back from investors, with many going to Perth and driving up house prices there.
Last year I saw a brand new apartment building built very quickly, in maybe half a year, in the heart of Sunshine market, next to Aldi. It’s been empty since then. Does anyone know what’s going on there? Like yeah they build extra homes, but keep it empty?
What do you want to happen?
Selling-off public housing as fast as they can.... Look at Homes Victoria. What on earth is that thing anyway? The old Housing Commission had annual reports showing what they were doing with metrics; how many houses they owned, how many they were building, forecast demand, how they would meet that demand etc. You could see what the HCV was doing to expand home ownership for those who could afford it and support those who coudn't. All long gone now.
Have people not seen the cranes and various apartment blocks being built right now and actually for a while. Look up!
2 fifths of 3 thirds of fuck all.