Latest news with #StateoftheHousingSystem
The Age
10-06-2025
- Business
- The Age
Albanese should remember courage on housing cuts both ways
It takes a certain audacity to be both attacker and conciliator, except perhaps in politics, where this is often just part of the job, a dark art of the profession. This week we saw federal Housing Minister Clare O'Neil take on both roles. In an interview with The Age, the minister offered a defence of Labor's housing policies and its struggles to hit its targets, and in the process undertook a thinly veiled attack on the states. 'Planning laws at the state level are being used much too much to protect existing residents, and not enough to address the fact that we've got millions of people who are in housing distress. We need more housing of all kinds, and medium-density housing in the middle-ring suburbs is obviously going to be a really important part of the mix,' she said. This pivot on planning was noted in The Age's reporting as a notable shift. Three years ago, when federal Labor pledged in its budget to build 1 million properties between 2024 and mid-2029 (since upgraded to 1.2 million) it had very different avenues of action. It is likely to fall almost 300,000 short of the later target, according to the recent report State of the Housing System from the National Housing Supply and Affordability Council. In fact, new housing supply was at its lowest point in a decade and woefully trailing demand. So what then of Labor's policies? At the recent election, it said it would guarantee 5 per cent deposits of all first home buyers to ease the burden of lenders' mortgage insurance. It would also provide $10 billion to equity programs with state government and private developers to build 100,000 homes for first-time buyers. In June 2023, Albanese announced a $2 billion fund called the Social Housing Accelerator. This was at a time when the Greens were blocking moves in the Senate related to Labor's $10 billion Housing Australia Future Fund. Loading Having fought loudly for various of these measures against the opposition and the Greens, the government now appears to be crab-walking towards the last refuge of scoundrels in our Federation – blame-shifting. There were signs of this shift last week too when Andrew Leigh, assistant minister for productivity, competition, charities and treasury, gave a speech noting 'many of the levers lie with the states. And the systems need to change'. He launched a stinging attack on North Sydney Council in particular.
West Australian
21-05-2025
- Business
- West Australian
‘10.6 years': Dire reality for Aussies revealed in State of Housing System report
The Australian dream of homeownership is looking more hopeless than ever. A median-income household now needs to save for 10.6 years just to afford a deposit and start a whole new challenge of servicing a new mortgage, the National Housing Supply and Affordability Council's annual State of the Housing System 2025 report shows. It notes that mortgage repayments continue to increase faster than incomes, and affordability continues to deteriorate though at a slower pace compared with 2023. About 50 per cent of median household income was needed to meet repayments for new mortgages in 2024, according to the report. It does not look good for renters either, as 33 per cent of median wages are needed to meet rental costs in new leases. Rental stress has affected more than 50 per cent of lower-income renter households in 2023. Sixty per cent of these households also experienced stress the year before, showing how persistent the issue is. Only 14 per cent of new homes sold in 2023-2024 were affordable for the median-income household, the lowest on record. NSW residents have drawn the short straw, as new mortgages and home deposits remain the least affordable in Australia, whereas the Northern Territory has the most affordable mortgages and home deposits. Rents in regional Queensland were the least affordable, but rents in Canberra were the most affordable. New housing supply is the lowest in a decade, and the 1.2 million target for new houses to be completed during the Housing Accord period will not be met – even under optimistic economic estimates, the report says. No state or territory will meet their target, and supply is insufficient to meet underlying demand. The report has called for systemic reform, government support measures and industry innovation to address the issues, but the NSW government says it is heading in the right direction. 'The Minns Labor government inherited a system that was working against achieving the Housing Accord targets. It was also never assumed that, given macroeconomic conditions and the costs of construction, it would be a straight line between now and mid-2029,' Minister for Planning and Public Spaces Paul Scully said. 'We are turning around the system. Planning approvals are 15 per cent faster today than they were in March 2023, the number of applications lodged is up 28 per cent on the same time last year, and NSW has the most homes under construction in the country. 'There are thousands more homes and DAs being finalised that are embracing our planning reforms such as the Housing Delivery Authority and the low and mid-rise policy. We're building a pipeline that will actually deliver homes. 'The State of the Housing System report shows us that we have our work cut out for us, but as a government we've got our priorities right.' Weak supply has been attributed to a lack of commercial feasibility – it costs more for developers to build than what they would earn selling it. Elevated costs, labour shortages, high financing are all constraining supply but should be easing, the report says. Property Council chief executive Mike Zorbas said the report showed the need to increase productivity in the construction sector, simplify planning systems and encourage investment. 'The alarm bell continues to sound on national housing supply,' Mr Zorbas said. 'The sad fact is that many Australians feel that homeownership is out of reach. 'We have seen the federal and state governments co-ordinate their efforts on boosting supply, but more must be done. 'Our skills and planning systems are not yet match fit for this century. 'More than 30 per cent of the cost of a new home is government taxes and charges. 'East coast states have daft foreign investment taxes that are barbed wire to overseas institutions that want to send their money to help Australian companies build the assets our cities need. 'The least cost answer for indebted states is to modernise our planning systems and put measures in place to boost the proportion of skilled workers coming into the country. 'We need to bring forward federal environmental approvals and force power and water providers to stop delaying the delivery of new homes, industrial and commercial assets that our communities need as they grow.'
The Advertiser
18-05-2025
- Business
- The Advertiser
Hopes AI can help provide lifeline for housing crisis
Researchers hope talking to maps may help them find the answers needed to solve Australia's housing crisis. In an effort to tackle a multi-front crisis, a cutting-edge government-backed housing analytics lab will open in Sydney on Monday. Studying housing data, the interactive lab aims to find solutions to housing affordability, by looking at areas to build social homes and boost the waning development pipeline. Researchers will use Map AI, an interactive tool that shows housing data, to find which areas are best to be developed, and how to feasibly redevelop already high-density areas. "Map AI allows you to talk to your map and ask questions like 'show me property here', so it makes it a lot easier for those who are not data scientists to interrogate the data," lead of the lab and UNSW professor Chris Pettit told AAP. "Traditionally planners try to rezone high-density areas around train stations. "We will use AI to see what value are those properties are and what is permissible to zone, to break down some of those barriers." The lab will bring together more than a dozen partners in government and the housing sector, with a focus on NSW, though solutions found can be used across the nation. State governments in 2023 agreed to begin building a combined 1.2 million homes from mid-2024, with the hope of finishing them over five years. Less than a year later, the number of approved dwellings is dropping, not rising, according to the Australian Bureau of Statistics (ABS). Social housing is also unable to meet demand, a national State of the Housing System report found, and according to new research, one in three homes are priced at more than a million dollars. NSW is on track to fall short of building its share of 377,000 homes by 2029, with only five of the state's 43 local government areas on track to meet their housing targets, according to Property Council NSW figures. The state also continues to grapple with a rental crisis as vacancy rates slumped to 1.6 per cent in April, ABS data shows. "Finding a home to rent in New South Wales is harder today than it has ever been before," NSW Real Estate Institute chief executive Tim McKibbin said. "As a community, we owe it to everyone in this boat to strive for a better outcome." The state government has pitched in $1 million towards the new lab, with NSW Premier Chris Minns saying it brings together experts and data for key insights. "We need universities that can translate research into real-world solutions - exactly what UNSW is doing here." On Monday, NSW will follow in the footsteps of Victoria, ACT, Queensland and South Australia in banning no-grounds evictions for renters. Researchers hope talking to maps may help them find the answers needed to solve Australia's housing crisis. In an effort to tackle a multi-front crisis, a cutting-edge government-backed housing analytics lab will open in Sydney on Monday. Studying housing data, the interactive lab aims to find solutions to housing affordability, by looking at areas to build social homes and boost the waning development pipeline. Researchers will use Map AI, an interactive tool that shows housing data, to find which areas are best to be developed, and how to feasibly redevelop already high-density areas. "Map AI allows you to talk to your map and ask questions like 'show me property here', so it makes it a lot easier for those who are not data scientists to interrogate the data," lead of the lab and UNSW professor Chris Pettit told AAP. "Traditionally planners try to rezone high-density areas around train stations. "We will use AI to see what value are those properties are and what is permissible to zone, to break down some of those barriers." The lab will bring together more than a dozen partners in government and the housing sector, with a focus on NSW, though solutions found can be used across the nation. State governments in 2023 agreed to begin building a combined 1.2 million homes from mid-2024, with the hope of finishing them over five years. Less than a year later, the number of approved dwellings is dropping, not rising, according to the Australian Bureau of Statistics (ABS). Social housing is also unable to meet demand, a national State of the Housing System report found, and according to new research, one in three homes are priced at more than a million dollars. NSW is on track to fall short of building its share of 377,000 homes by 2029, with only five of the state's 43 local government areas on track to meet their housing targets, according to Property Council NSW figures. The state also continues to grapple with a rental crisis as vacancy rates slumped to 1.6 per cent in April, ABS data shows. "Finding a home to rent in New South Wales is harder today than it has ever been before," NSW Real Estate Institute chief executive Tim McKibbin said. "As a community, we owe it to everyone in this boat to strive for a better outcome." The state government has pitched in $1 million towards the new lab, with NSW Premier Chris Minns saying it brings together experts and data for key insights. "We need universities that can translate research into real-world solutions - exactly what UNSW is doing here." On Monday, NSW will follow in the footsteps of Victoria, ACT, Queensland and South Australia in banning no-grounds evictions for renters. Researchers hope talking to maps may help them find the answers needed to solve Australia's housing crisis. In an effort to tackle a multi-front crisis, a cutting-edge government-backed housing analytics lab will open in Sydney on Monday. Studying housing data, the interactive lab aims to find solutions to housing affordability, by looking at areas to build social homes and boost the waning development pipeline. Researchers will use Map AI, an interactive tool that shows housing data, to find which areas are best to be developed, and how to feasibly redevelop already high-density areas. "Map AI allows you to talk to your map and ask questions like 'show me property here', so it makes it a lot easier for those who are not data scientists to interrogate the data," lead of the lab and UNSW professor Chris Pettit told AAP. "Traditionally planners try to rezone high-density areas around train stations. "We will use AI to see what value are those properties are and what is permissible to zone, to break down some of those barriers." The lab will bring together more than a dozen partners in government and the housing sector, with a focus on NSW, though solutions found can be used across the nation. State governments in 2023 agreed to begin building a combined 1.2 million homes from mid-2024, with the hope of finishing them over five years. Less than a year later, the number of approved dwellings is dropping, not rising, according to the Australian Bureau of Statistics (ABS). Social housing is also unable to meet demand, a national State of the Housing System report found, and according to new research, one in three homes are priced at more than a million dollars. NSW is on track to fall short of building its share of 377,000 homes by 2029, with only five of the state's 43 local government areas on track to meet their housing targets, according to Property Council NSW figures. The state also continues to grapple with a rental crisis as vacancy rates slumped to 1.6 per cent in April, ABS data shows. "Finding a home to rent in New South Wales is harder today than it has ever been before," NSW Real Estate Institute chief executive Tim McKibbin said. "As a community, we owe it to everyone in this boat to strive for a better outcome." The state government has pitched in $1 million towards the new lab, with NSW Premier Chris Minns saying it brings together experts and data for key insights. "We need universities that can translate research into real-world solutions - exactly what UNSW is doing here." On Monday, NSW will follow in the footsteps of Victoria, ACT, Queensland and South Australia in banning no-grounds evictions for renters. Researchers hope talking to maps may help them find the answers needed to solve Australia's housing crisis. In an effort to tackle a multi-front crisis, a cutting-edge government-backed housing analytics lab will open in Sydney on Monday. Studying housing data, the interactive lab aims to find solutions to housing affordability, by looking at areas to build social homes and boost the waning development pipeline. Researchers will use Map AI, an interactive tool that shows housing data, to find which areas are best to be developed, and how to feasibly redevelop already high-density areas. "Map AI allows you to talk to your map and ask questions like 'show me property here', so it makes it a lot easier for those who are not data scientists to interrogate the data," lead of the lab and UNSW professor Chris Pettit told AAP. "Traditionally planners try to rezone high-density areas around train stations. "We will use AI to see what value are those properties are and what is permissible to zone, to break down some of those barriers." The lab will bring together more than a dozen partners in government and the housing sector, with a focus on NSW, though solutions found can be used across the nation. State governments in 2023 agreed to begin building a combined 1.2 million homes from mid-2024, with the hope of finishing them over five years. Less than a year later, the number of approved dwellings is dropping, not rising, according to the Australian Bureau of Statistics (ABS). Social housing is also unable to meet demand, a national State of the Housing System report found, and according to new research, one in three homes are priced at more than a million dollars. NSW is on track to fall short of building its share of 377,000 homes by 2029, with only five of the state's 43 local government areas on track to meet their housing targets, according to Property Council NSW figures. The state also continues to grapple with a rental crisis as vacancy rates slumped to 1.6 per cent in April, ABS data shows. "Finding a home to rent in New South Wales is harder today than it has ever been before," NSW Real Estate Institute chief executive Tim McKibbin said. "As a community, we owe it to everyone in this boat to strive for a better outcome." The state government has pitched in $1 million towards the new lab, with NSW Premier Chris Minns saying it brings together experts and data for key insights. "We need universities that can translate research into real-world solutions - exactly what UNSW is doing here." On Monday, NSW will follow in the footsteps of Victoria, ACT, Queensland and South Australia in banning no-grounds evictions for renters.
West Australian
18-05-2025
- Business
- West Australian
Hopes AI can help provide lifeline for housing crisis
Researchers hope talking to maps may help them find the answers needed to solve Australia's housing crisis. In an effort to tackle a multi-front crisis, a cutting-edge government-backed housing analytics lab will open in Sydney on Monday. Studying housing data, the interactive lab aims to find solutions to housing affordability, by looking at areas to build social homes and boost the waning development pipeline. Researchers will use Map AI, an interactive tool that shows housing data, to find which areas are best to be developed, and how to feasibly redevelop already high-density areas. "Map AI allows you to talk to your map and ask questions like 'show me property here', so it makes it a lot easier for those who are not data scientists to interrogate the data," lead of the lab and UNSW professor Chris Pettit told AAP. "Traditionally planners try to rezone high-density areas around train stations. "We will use AI to see what value are those properties are and what is permissible to zone, to break down some of those barriers." The lab will bring together more than a dozen partners in government and the housing sector, with a focus on NSW, though solutions found can be used across the nation. State governments in 2023 agreed to begin building a combined 1.2 million homes from mid-2024, with the hope of finishing them over five years. Less than a year later, the number of approved dwellings is dropping, not rising, according to the Australian Bureau of Statistics (ABS). Social housing is also unable to meet demand, a national State of the Housing System report found, and according to new research, one in three homes are priced at more than a million dollars. NSW is on track to fall short of building its share of 377,000 homes by 2029, with only five of the state's 43 local government areas on track to meet their housing targets, according to Property Council NSW figures. The state also continues to grapple with a rental crisis as vacancy rates slumped to 1.6 per cent in April, ABS data shows. "Finding a home to rent in New South Wales is harder today than it has ever been before," NSW Real Estate Institute chief executive Tim McKibbin said. "As a community, we owe it to everyone in this boat to strive for a better outcome." The state government has pitched in $1 million towards the new lab, with NSW Premier Chris Minns saying it brings together experts and data for key insights. "We need universities that can translate research into real-world solutions - exactly what UNSW is doing here." On Monday, NSW will follow in the footsteps of Victoria, ACT, Queensland and South Australia in banning no-grounds evictions for renters.
Perth Now
18-05-2025
- Business
- Perth Now
Hopes AI can help provide lifeline for housing crisis
Researchers hope talking to maps may help them find the answers needed to solve Australia's housing crisis. In an effort to tackle a multi-front crisis, a cutting-edge government-backed housing analytics lab will open in Sydney on Monday. Studying housing data, the interactive lab aims to find solutions to housing affordability, by looking at areas to build social homes and boost the waning development pipeline. Researchers will use Map AI, an interactive tool that shows housing data, to find which areas are best to be developed, and how to feasibly redevelop already high-density areas. "Map AI allows you to talk to your map and ask questions like 'show me property here', so it makes it a lot easier for those who are not data scientists to interrogate the data," lead of the lab and UNSW professor Chris Pettit told AAP. "Traditionally planners try to rezone high-density areas around train stations. "We will use AI to see what value are those properties are and what is permissible to zone, to break down some of those barriers." The lab will bring together more than a dozen partners in government and the housing sector, with a focus on NSW, though solutions found can be used across the nation. State governments in 2023 agreed to begin building a combined 1.2 million homes from mid-2024, with the hope of finishing them over five years. Less than a year later, the number of approved dwellings is dropping, not rising, according to the Australian Bureau of Statistics (ABS). Social housing is also unable to meet demand, a national State of the Housing System report found, and according to new research, one in three homes are priced at more than a million dollars. NSW is on track to fall short of building its share of 377,000 homes by 2029, with only five of the state's 43 local government areas on track to meet their housing targets, according to Property Council NSW figures. The state also continues to grapple with a rental crisis as vacancy rates slumped to 1.6 per cent in April, ABS data shows. "Finding a home to rent in New South Wales is harder today than it has ever been before," NSW Real Estate Institute chief executive Tim McKibbin said. "As a community, we owe it to everyone in this boat to strive for a better outcome." The state government has pitched in $1 million towards the new lab, with NSW Premier Chris Minns saying it brings together experts and data for key insights. "We need universities that can translate research into real-world solutions - exactly what UNSW is doing here." On Monday, NSW will follow in the footsteps of Victoria, ACT, Queensland and South Australia in banning no-grounds evictions for renters.
