The Housing Crisis

[abc]

using Commbanks borrowing calculator with an 8% interest rate they'd let you borrowing 450k on a 100k (pre-tax) salary.. a 163k salary at 8% they'd let you borrow 680k

Maybe they're only talking about the actual City of Adelaide and not the suburbs?

you cant buy much for 450k these days.

[Goodsy]

using Commbanks borrowing calculator with an 8% interest rate they'd let you borrowing 450k on a 100k (pre-tax) salary.. a 163k salary at 8% they'd let you borrow 680k

Maybe they're only talking about the actual City of Adelaide and not the suburbs?

you cant buy much for 450k these days.

There's plenty north of Main North Road..

[mattblack]

Not a short term solution considering how long the master planning and approvals take, especially on greenfield sites however may equate to easing of supply over the long term.

SA Leads the Nation in Housing Scorecard

Release date: 24/04/24

The Malinauskas Labor Government’s concerted efforts to address the housing crisis has been recognised by a leading national industry body, with South Australia ranked number one in HIA’s Housing Scorecard.

The Housing Industry Association (HIA) provides a half yearly review of residential building conditions in each state and territory.

It ranks each of the eight states and territories based on the performance of 13 key residential building indicators against their decade average, covering detached and multi-unit building activity, renovations, housing finance and rates of overseas and interstate migration.

South Australia is number one in the detached housing market indicators and the renovation sector, helping propel SA to top spot for the second straight scorecard, having also been ranked first in the nation in July 2023.



The positive result follows the Government announcement of a new housing super portfolio, which allows for greater coordination to deliver critical projects, such as the proposed 3500 homes on vacant land in Smithfield and Elizabeth South.

The HIA scorecard recognises the State Government is taking action to increase the supply of development ready land.

The State Government has already rezoned close to 450 hectares of land which has the potential to create more than 5600 new dwellings across South Australia.

The Minister for Planning has initiated another 33 code amendments which has the potential to yield more than 23,000 potential homes.

The previous Government released less than 190 hectares of land during its four years in office.

The Malinauskas Government’s plan for A Better Housing Future also includes:

Fast tracking the single largest release of residential land in the state’s history

Abolishing stamp duty for eligible first home buyers

Streamlining the code amendment process

Fast tracking approvals for new homes in key areas

Delivering the first substantial increase to public housing in a generation – building an additional 564 public homes and stopping the sale of 580 others

Preparing more than 900 affordable homes across SA including, West End, Prospect, Bowden, Playford and Noarlunga

Delivering new housing developments for key workers in regional South Australia through a new Office for Regional Housing in Renewal SA

New 2 per cent deposit home loan through HomeStart for first home buyers building a new home

https://www.premier.sa.gov.au/media-rel ... -scorecard

[abc]

amazing some here claimed the record immigration had nothing to do with the housing crisis

they blamed everything but from boomers to John Howard

[Norman]

Migration is a big part of rising house prices and rents, but not the only factor.

[Nort]

amazing some here claimed the record immigration had nothing to do with the housing crisis

they blamed everything but from boomers to John Howard

Made the mistake of turning ignore off to see what was being talked about.

Immigration does have an effect, but you appear to have posted the wrong graph since the political commentary you posted doesn't reference immigration in any of its data. Please update with the graph you meant to post.

[rev]

Migration is a big part of rising house prices and rents, but not the only factor.

The issue with immigration/housing at the moment is with housing costs so high, including rent, housing stocks being so low that we are in a deficit, is that with all those issues making it extremely difficult for people already, do we really need to be adding hundreds of thousands more people to the mix?
There's obviously downward pressure on wages/salaries, think I posted it a while ago where it's gone backwards like 5-6%, the worst performing in all of the OECD.

The excessive amount of new arrivals might be helping the bottom lines of corporations but it's not helping everyday Australians, it's to our detriment.

The only place to point the blame at, for all the shit going on in Australia these days, be it the flood of new arrivals or the cost of living, is the government. Blame Canberra.
Anyone could tell you what Coles and Woolies are doing, that they're ripping people off across the board. But the government needs to waste time, and tax payers money holding an enquiry. What's the end result going to be of that? Nothing, they might get a slap on the wrist to show the voting public the government has "done something".

They are absolutely useless, utterly incompetent.

The government doesn't give a shit about the average Australian. It's not hard to figure that out.
Are they doing anything serious to actually bring the cost of living down? To make housing affordable again? No. They leave the people to suffer.
Are they doing anything to punish the corporations that are raping people on a daily basis, ie Coles & Woolies? No. They let their corporate mates do what they want and get away with it.

Who do they really give a shit about? Certainly not the Australian public.

The high salaries these incompetent clowns get and over the top pensions and pay rises, should be reduced drastically. We aren't getting our money's worth. The high incomes aren't attracting competent people to lead and govern, but corrupt shills interested in lining their own pockets and setting up their own luxurious retirements.

We are a stupid nation.

[gnrc_louis]

Lol time is a flat circle and this thread proves it.

[Norman]

I don't have any data at the moment to back it up, but I thought most of those migrants would be international students commencing or resuming their studies in Australia post-Covid, merely making up the ones we lost. I'll have a bit more of a dig into the data when I can.

[abc]

amazing some here claimed the record immigration had nothing to do with the housing crisis

they blamed everything but from boomers to John Howard

Made the mistake of turning ignore off to see what was being talked about.

Immigration does have an effect, but you appear to have posted the wrong graph since the political commentary you posted doesn't reference immigration in any of its data. Please update with the graph you meant to post.

you're obviously not equipped to be able to read or interpret graphical data

tell me what changed that's relevant in 2021/2022? I'll give you three guesses...

tick tock

We are a stupid nation.

just some...

[rev]

I don't have any data at the moment to back it up, but I thought most of those migrants would be international students commencing or resuming their studies in Australia post-Covid, merely making up the ones we lost. I'll have a bit more of a dig into the data when I can.

From the ABS..

Key statistics
Overseas migration 2022-23 – net annual gain of 518,000 people
Migrant arrivals increased 73% to 737,000 from 427,000 arrivals a year ago
Largest group of migrant arrivals was temporary visa holders with 554,000 people
Migrant departures decreased 2% to 219,000 from 223,000 departures a year ago.

https://www.abs.gov.au/statistics/peopl ... 20pandemic.

[Norman]

I don't have any data at the moment to back it up, but I thought most of those migrants would be international students commencing or resuming their studies in Australia post-Covid, merely making up the ones we lost. I'll have a bit more of a dig into the data when I can.

From the ABS..

Key statistics
Overseas migration 2022-23 – net annual gain of 518,000 people
Migrant arrivals increased 73% to 737,000 from 427,000 arrivals a year ago
Largest group of migrant arrivals was temporary visa holders with 554,000 people
Migrant departures decreased 2% to 219,000 from 223,000 departures a year ago.

https://www.abs.gov.au/statistics/peopl ... 20pandemic.

Yep, the ABS also says:

Temporary visa holders were the largest contributors to arrivals in 2022-23. Of the temporary visa holders, the largest group was international students (283,000). Other temporary visa holders include working holiday makers (70,000) and temporary skilled (49,000).

https://www.abs.gov.au/statistics/peopl ... ncial-year

The number if new permanent arrivals is pretty much the same as previous years.

So really the large number of arrivals is students returning to Australia. Further analysis would be good to compare the number of international students now compared to pre-Covid.

It would also be interesting to see what type of accommodation these new students are taking, and if more student accommodation would be a better way to relieve pressure on the housing market.