Glenn Stephen's comments this week

Federal government on housing supply
Published: 31 Mar 2010 Author: Caryn Kakas Source: Residential Development Council

Federal Treasurer Wayne Swan urged state and territory treasurers to overhaul planning laws and land release mechanisms to ensure more affordable housing, despite concern about measures to fast-track assessment of stimulus projects.


At the Ministerial Council for Federal Financial Relations, the Treasurer focused on the need for states and territories to agree to a broad range of housing affordability reforms. These include reform of land aggregation, zoning and planning processes, and governance and greater national consistency of building regulations.


States and territories were also asked to extend land audit work now underway to examine under-utilized land and private holdings of large parcels of land, and to agree to nationally consistent principles for housing development infrastructure charges.
 
lenovo said:
Federal Treasurer Wayne Swan urged state and territory treasurers to overhaul planning laws and land release mechanisms to ensure more affordable housing, despite concern about measures to fast-track assessment of stimulus projects.
Click to expand...

Ha ha these guys are hopeless.

They'll never solve the housing shortage the way they are going because they are not addressing the root of the problem which is developer finance.

They are looking at all the other problems associated with new developments but not at the one which stops projects from going ahead.
IMO until they tackle the issue of funding the housing problem won't go away.

The other problem is the RBA which always kills housing activity at a time when projects are starting to become feasible. Sack them all I say....
 
Hi all,

They'll never solve the housing shortage the way they are going because they are not addressing the root of the problem
Click to expand...

The real question is do they want to solve the housing shortage?? Keeping house prices high makes lots of voters happy. FHB and wannabees only make up a small proportion of voters. Too much housing could make prices fall, lots of unhappy voters.

What politicians say and do are not necessarily the same thing. How do you tell if a politician is lying?? (old joke)

bye
 
lenovo said:
Federal government on housing supply
Published: 31 Mar 2010 Author: Caryn Kakas Source: Residential Development Council

Federal Treasurer Wayne Swan urged state and territory treasurers to overhaul planning laws and land release mechanisms to ensure more affordable housing, despite concern about measures to fast-track assessment of stimulus projects.


At the Ministerial Council for Federal Financial Relations, the Treasurer focused on the need for states and territories to agree to a broad range of housing affordability reforms. These include reform of land aggregation, zoning and planning processes, and governance and greater national consistency of building regulations.


States and territories were also asked to extend land audit work now underway to examine under-utilized land and private holdings of large parcels of land, and to agree to nationally consistent principles for housing development infrastructure charges.
Click to expand...
All Swanns ideas are short term,politicians would not be doing their job if they did not try too give the voters want they want,people just have to understand that in Australia now there is not a housing problem,just the location..willair..
 
willair said:
All Swanns ideas are short term,politicians would not be doing their job if they did not try too give the voters want they want,people just have to understand that in Australia now there is not a housing problem,just the location..willair..
Click to expand...

What does that mean ?
 
jaycee said:
What does that mean ?
Click to expand...

The issue is we have a housing shortage in the places where people want to live. If people were more willing to compromise on the location, with a longer commute, fewer amenities, etc, then there wouldn't be a housing shortage.
 
in other words, want more than we can afford

aspirations exceed our bank balance

shortage of mansions at cheap prices with 5kms of the CBD
 
jaycee said:
What does that mean ?
Click to expand...
Jaycee,very simple if you wanted to start in property and you want to start in your dream home first up then you have to pay the price,it was no different 30 years ago,and it it no different today,also as we have in Australia a pouplation now overindebted in property,and a increase in customer demand for properties below 400k Australia wide,and with Rudds plans to inflate our
pouplation who knows what may happen over the next few years..

But back to your question people can still buy within a 130 klm radius of Brisbane for 140k,rented for 200 plus a week,some with future development
so if you wanted to start you can,or you can spend above 3 mill and buy something inner city on the river,no different from 30 years ago only the price-size-location..willair..
 
Thanks,I was only asking.

I have noticed over the last I dont know 10-15 yrs, how our wants have changed. The abundance of new homes and cars and clothing (all of which I like don't get me wrong, but..).

When my parents bought in west perth, they bought casse they could and it would do. No way was it everything they wanted or exactly where they wanted, it did the job and was in budget, that's why they bought it.

I'd love to buy that place now, but right now the suburb is more sought after so will have to work on it, swings and roundabouts, I feel 'dissapointed' so to speak, but not ripped off... and if I really decide I want it, I'm sure I can work out a plan...

Mt Hawthorn wasn't Mth Hawthorn back when a lot of people moved in there either, which now people cry over not being able to buy there when before it was affordable to many.

The suburbs that were the Mt Hawthorn of today back then,were also out of reach to most who probably purchased in Mt Hawthorn back then, thats why they bought in Mt Hawthorn.

At the same time, the far end suburbs of perth dont appeal to me, luckily I dont have to worry about it for now either !
 
jaycee said:
Mt Hawthorn wasn't Mth Hawthorn back when a lot of people moved in there either, which now people cry over not being able to buy there when before it was affordable to many.
Click to expand...

where do you see as the next mt hawthorn? there arent a lot of these older suburbs that display similar characterisitcs left.
 
Ausprop said:
where do you see as the next mt hawthorn? there arent a lot of these older suburbs that display similar characterisitcs left.
Click to expand...

:p You're asking me ? I wish I knew.

I used it as an example cause it's close to home, perhaps there's better examples to use, or perhaps willair, yourself etc said it all already.

I do know that 1 x buyer's agent seminar suggested that was the type of suburbs they look for for their customers rather than the outer new areas whre more land could be released close by, only he used the next subiaco as his example.
 
Shadow said:
The ABS puts last year's Sydney capital growth slightly higher than RPData - at 12.8%

Does that mean the ABS is even more biased?
Click to expand...
"Median" is not apples for apples.

My Casa would have been above median when I bought it, being only a few years old and built to the standards of the day. If you were to drive past today you would say "Good block! What can we do with the old house on it?" Has "median" had a boost because the FHB influence has waned? Can you expand those stats to PROVE that, like for like, there has been a 12.8% increase? Bet you can't.

You can always find a statistic to prove whatever you want it to prove.

BTW Could you post a chart/graph of ABS data for a decade? Cherry picking a good year is misuse of statistics.
 
Sunfish said:
"Median" is not apples for apples.
Click to expand...
No-one mentioned median. Did you actually follow the +12% for Sydney link I provided back in #36. The +12% refers to the Hedonic Home Value Index, NOT the median. Have a read of what the Hedonic Home Value Index means & how it's calculated here.

This index utilises comprehensive information on the attributes and characteristics of residential properties, such as location, land size, and bedrooms, to measure “quality-adjusted” changes in property value over time.
Click to expand...

FHB & medians do not affect the +12% that Sydney was lucky enough to endure over the last 12 months.
 
Hi all,

Sunfish,

Has "median" had a boost because the FHB influence has waned?
Click to expand...

Absolutely correct.

However it does not mean that prices are not rising, they are because most believe in median figures and make price rises self fulfilling. The likely effect of the FHOG was something I mentioned last year. Property being a slow moving beast (in totality) means the effect is likely to continue for a while yet.

bye
 
Hi Sunfish,

Firstly, you know that I am not a perennial bull from a few threads a few years ago.

Secondly, that was a poor example to point to. That young couple will do very well by holding. They are not over their heads, the rents will rise, their incomes will rise, the loans will stay the same at IO.
Also, if they rented instead of owning any property, they would be paying ~$350 PW for their accommodation. If you add $350pw to the rents they receive then they have all loans easily covered. Assuming inflation of only 4% pa over the next 10 years, they could afford interest rates of over 12% and still be better off financially than owning no property, irrespective of whether prices go up down or sideways.

median prices....
I believe it is a statistical lie.
Click to expand...

So do I. An almost useless statistic, yet believed by most. WE have to remember that perception is reality for most.

I believe that you think there is inflation ahead, hence your investments in mining companies. What should a young couple today do?? My opinion is that property is as good a hedge against inflation as anything, and you have to live somewhere anyway.

bye
 
Sunfish said:
Do you perennial bulls ever feel a twinge of guilt when young people, worried they have missed the boat, get in above their heads?
Click to expand...

Perennial bulls ?
Haha SF you know us better than that.
Our position over the years has been varying depending on market conditions
 
You must log in or register to reply here.

Similar threads

P
Thoughts on this sydney purchase?
Replies
19
Views
3K
meme plecko
M
redwing
RBA?s Glenn Stevens urges action to avoid property ?bust?
2
Replies
32
Views
5K
Deltaberry
D
see_change
RBA brings calm to the house price debate
Replies
1
Views
1K
FelixL
F
T
Australia is in one of the worst housing bubbles we have ever seen - Lindsay David
Replies
0
Views
627
two40
T
M
IP Advice for Beginners
Replies
14
Views
3K
Shahin_Afarin
Shahin_Afarin
Back
Top