A PROPERTY INVESTMENT MAG SURVEY found Most Australians are extremely sympathetic to the dilemma of First Home Buyers!

 

Chinese buyers have left Australia in hordes.

 

A PROPERTY INVESTMENT MAG SURVEY found Most Australians are extremely sympathetic to the dilemma of First Home Buyers!

WHAT this Survey reveals to CAAN is that many Sellers are still unaware how this Housing Affordability Crisis was contrived … for a Whole Cohort of Australians to have been locked out … yet meanwhile where we live is being spoilt or even destroyed!

PERHAPS this is because there is much SPIN being circulated! Especially by those with a vested interest!

 

The role of the Australian LNP Government, the Big End of Town particularly the Developer/Property Sector and their extensive overseas clientele!

With government policies written for those with vested interests!

-developers able to sell 100% of “new homes” to foreign buyers (FIRB ruling changes 2009; May 2017 Budget Reg)

-no Anti-Money Laundering Legislation for the Real Estate Sector

.early October 2018 Real Estate Agents, Lawyers and Accountants were made exempt from any liability in money laundering

-through Visa manipulation foreign buyers can not only buy a property but gain a permanent Residency Visa

Read this for the how and why the Housing Affordability Crisis came about, and refer to CAAN Website categories to find out more:

https://caanhousinginequalitywithaussieslockedout.wordpress.com/?s=what+will+foreigners+buy+next

 

EXTRACT:

“Australians are also extremely sympathetic to the dilemma of first home buyers as 71% of the respondents believed the government is not doing enough to help this group of buyers.

Over half of those who were surveyed even wanted to know the buyer of their property, with two out of three willing to offer a discount to first buyers.  Nearly one in four people from this pool were comfortable to cut their property’s price by 5 to 10%.

Mccan associated the thoughtfulness towards first home buyers with the capital gains these sellers had achieved in recent years.

“The same group seems extremely aware of the effect the property boom has had on first home buyers and wants action to keep the Australian dream alive,” he said.

In terms of other issues, 78% of the people felt the government should do more to aid retirees downsize, while 84% believed that the government isn’t doing enough to regulate foreign investment into the country’s property market.”

DOWNSIZING …

There has been a concerted push by government and the Greater Sydney Commission to encourage seniors to “downsize” … what lay behind this?

Could it be to free up more property for developers to build as many as 10 terraces on a suburban lot, townhouses and duplex?

And to sell to overseas buyers? ….

KEY POINTS:

DOWNSIZERS risk losing some or all of their Age Pension!

-though the Family Home is exempt from the pension assets test any home equity unlocked by downsizing is not!

-downsizers have to stump up the stamp duty on any new home they buy; at May 2017 equates to $32,000 for the median-priced home in Sydney

-earnings from the cash released are taxed, whereas capital gains on the home are not

 

OUTSOURCING home maintenance costs may be cheaper than apartment strata levies!

 

VIEW to find out more:

 

https://caanhousinginequalitywithaussieslockedout.wordpress.com/2018/05/27/downsizing-decisions-which-type-of-home-is-best-for-low-maintenance-living/

 

https://caanhousinginequalitywithaussieslockedout.wordpress.com/2018/04/20/downsizing-more-about-the-prohibitive-costs-of-downsizing-besides-stamp-duty/

 

SOURCE:  https://www.yourinvestmentpropertymag.com.au/news/property-owners-becoming-eager-to-sell-256631.aspx

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FRENCHS FOREST a bushland suburb bulldozed to become a Private Hospital Precinct!

From the enjoyment of their quality homes on 700 square metre blocks surrounded by bushland residents have been shafted having lived through years of construction, roadworks and uncertainty over development and rezoning!

Locals describe this as a “Nightmare”, an upheaval;  no longer a peaceful family area!

MANLY AND MONA VALE PUBLIC HOSPITALS shut down for a private operation by

HEALTHSCOPE.

 

IT appears both Frenchs Forest and the Northern Beaches have been SHAFTED!

Forest High is to be relocated for a new Town Centre!  The one square kilometre school site will be replaced by 3000 apartments in buildings up to nine storeys high; no higher than 12 storeys. 

-a mere 10% set down for “affordable housing”

-offices, medical services, shops, bars, an oval, green space and possibly a university campus

The school site is expected to make $250 – 300 M for the state government  … a replacement school to cost $100M.

Typical of the “boys club nsw guvmnt” Hazzard suggests the hospital has put Frenchs Forest on the map …

 

The apartments are expected to bring younger home-owners with a push for older residents to downsize from their homes to make way for developers overseas sell-off.

Within 10 years rezonings to allow townhouses and villas to add 5300 dwellings.

With proposal for a rapid transit bus link from Chatswood to Dee Why via Frenchs Forest. Residents fears of the Forest turning into a Mini Chatswood, we believe, are well founded.  If not why is a bus service proposed to connect to Chatswood?  Why wouldn’t the workers be local to Frenchs Forest?

 

‘They’re trying hard to destroy it’: The growing pains of a Sydney suburb

By Garry Maddox

The Northern Beaches Hospital is a development decades in the making.
The Northern Beaches Hospital is a development decades in the making.CREDIT:BROOK MITCHELL

 

When Julie Sutton moved to Frenchs Forest more than 50 years ago, her friends were dismayed. Developers had cut down so many trees that the grandly named Panorama Crescent, with spectacular views to the Sydney Harbour Bridge, looked like a quarry.

“They felt so sorry for me,” she says. “We couldn’t understand why it was called Frenchs Forest because, while there was certainly some bushland areas, the streets were bare.”

"It was not a place you'd want to live": Julie Sutton.
“It was not a place you’d want to live”: Julie Sutton. CREDIT:NICK MOIR

Sutton, a school teacher who went on to be twice mayor of Warringah council, says transport was poor, there was no sewer, hardly any shops and only a few stark footpaths.

“It was not a place you’d want to live,” she says. “The only reason we bought the house was we were quite hard up and it was one of the cheapest suburbs we could find.”

Frenchs Forest changes puts residents at a crossroads

Play Video

02:13

Frenchs Forest changes puts residents at a crossroads

Playing in 2 …Don’t Play

*With the suburb expected to transform as much as any established Sydney suburb in the next decade, some residents will be living in a far different suburb than they moved into decades ago.

As the trees grew back and more residents settled in, Frenchs Forest became a much more popular suburb for families. It had solid houses on handsome 700 square metre blocks surrounded by bushland.

 

The community was friendly, the schools were good and there were beaches and horse-riding nearby. There was even a drive-in theatre.

It was a slice of middle Australia where people who grew up there often wanted to stay and others returned when they had children; a suburb that barely seemed to change over the decades, even as the Skyline drive-in became the Skyline business park.

The $600 million Northern Beaches Hospital is finally opening this month, next to The Forest High School.
The $600 million Northern Beaches Hospital is finally opening this month, next to The Forest High School.CREDIT:BROOK MITCHELL

 

On her first day teaching at The Forest High School – where famous former students include Tim Farriss, Kirk Pengilly and Garry Gary Beers from INXS, David Koch and Bill Leak – another teacher asked Sutton to round up kids who were smoking on “the hospital land”.

“I said, ‘What does that mean?’ ” she says. “She said, ‘They’re building a hospital next to the school.’ That was in 1965.”

Fifty-three years on, the $600 million Northern Beaches Hospital is finally opening this month and Frenchs Forest is being transformed. With 488 beds, it promises a new era of healthcare as the replacement for the ageing Manly and Mona Vale hospitals.

But for residents who have lived through years of construction, roadworks and uncertainty over development and rezonings, the most common phrase to describe what has been taking place is “nightmare”.

 

“It’s not a family area any more,” one long-time resident, psychologist Ivana Grkovic, says in her lounge room.

“It’s not a peaceful area any more. It’s just an area where people should come for the hospital. I have no reason to live here any more.”

She plans to leave.

"I have no reason to live here any more": Ivana Grkovic.
“I have no reason to live here any more”: Ivana Grkovic. CREDIT:NICK MOIR

 

“It’s always been a beautiful area,” Laine Rowley says, baby on hip, at her front door. “The street was initially a quiet cul-de-sac – there were a lot of families. But that’s obviously changed with the roadworks. It’s now a nightmare.”

While hoping the chaos settles down when the hospital opens, she is thinking of moving to a quieter part of the suburb near her three children’s schools.

Bob Rose, a retired builder who has lived in the same house for 56 years, would have been happy to take “the big bickies” from an expected rezoning that has not happened.

“Where we are is a nice little spot but they’re trying hard to destroy it,” he says.

 

Few established suburbs are expected to change more in the next decade.

An announcement is due soon about the relocation of Forest High for the construction of a new town centre.

Within five years, it is expected an area of one square kilometre will have 3000 apartments in buildings up to nine storeys high.

"It's now a nightmare": Laine Rowley
“It’s now a nightmare”: Laine RowleyCREDIT:NICK MOIR

 

But first comes the hospital opening.

* With staff training and test overnight stays already taking place, healthcare giant Healthscope’s latest project will take its first 100 patients from Manly Hospital on October 30 and next 100 from Mona Vale Hospital the next day. *

“It’s a full military operation,” medical director Louise Messara says. “It’s involving so many different groups of people from NSW Traffic to ambulance, patient transport, volunteers, doctors and nurses … we have a schedule where every four minutes some action is taking place.”

*Dr Messara expects there will be about 2000 patients, staff and visitors at the hospital on a typical day, including 70,000 visits to the emergency department a year.  It will be similar in size to Royal North Shore Hospital.

 

State Health Minister Brad Hazzard, whose electorate of Wakehurst includes Frenchs Forest, says the hospital has put the suburb on the map.

“You get a new incredible facility that one of the doctors referred to as Disneyland for doctors,” he says. “I reckon it’s Disneyland for everybody.”

 

$600 million
Cost of the hospital
2000
Number of staff, patients and visitors expected daily
488
Number of beds (60% public, 40% private)
70,000
The number of patients expected to go through the 50-space emergency department every year
14
The number of operating theatres
1400
The number of car spaces
1
There will be one helipad
October 30
The date the hospital will open its doors with the first 100 patients from Manly Hospital
View:

https://e.infogr.am/1px2w3nyvjzw75bqneej7z2pqzhnpeyvvv0?src=embed#async_embed

Mr Hazzard says residents have gone from not believing there would ever be a hospital to asking what the suburb will be like when it’s open, with the Northern Beaches Council having to focus on creating what’s being called a “strategic centre” for the northern suburbs.

“The council has been working very hard to try and strike the right balance but maybe the right balance is completely the wrong thing for somebody else,” he says.

Living nearby, Mr Hazzard has been frustrated by the slowness of the road works to service the hospital.

“The roads have been a shocker,” he says. “Frenchs Forest Road East and Frenchs Forest Road West and the ancillary works are all now finished.

 

“So a big thank you to [Roads and Maritime Services and contractor Ferrovial York] for that but it would have been good if they’d actually had a bit more full steam ahead on Warringah Road [which] remains a challenge for us. Some mornings when I head out to the office, it can take me 25 minutes to go two kilometres.”

The next stage for Frenchs Forest includes the town centre.

The mayor of the Northern Beaches Council, Michael Regan, expects work to begin within two years, depending on the timing of the sale of the Forest High site and construction of a multi-storey new school on a large car park next to Warringah Aquatic Centre.

“Construction of the new school signals the beginning of the town centre,” he says. “Once the school is built, they can move onto The Forest High School site and start building.”

While the Education Department is coy about details, locals expect the site to sell for $250 million to $300 million, with the new school costing something like $100 million to build.

*Cr Regan believes that, within five years, a one-square kilometre area that includes the town centre will have 3000 apartments – 10 per cent set down for affordable housing – as well as offices, medical services, shops, bars, an oval, green space and possibly a university campus. *

An artist's impression of the proposed Town Centre at Frenchs Forest.
An artist’s impression of the proposed Town Centre at Frenchs Forest.CREDIT:NORTHERN BEACHES COUNCIL

 

“There’ll be no building higher than the current hospital, which is 40 metres,” he says.

*The arrival of apartments is expected to bring younger home-owners – many of them working in the area – and allow older residents to downsize from their houses.

Planners believe that, within 10 years, rezonings to allow such medium-density developments as townhouses and villas will add 5300 new homes and 2300 new jobs to current levels.

*But Cr Regan says these extra numbers can only come with a rapid transit bus link from Chatswood to Dee Why via Frenchs Forest and construction of the politically contentious Northern Beaches Tunnel, which would link Balgowlah to the Warringah Freeway.

While a so-called precinct plan that was scheduled to go on public exhibition early this year is yet to emerge, Cr Regan believes the state government will be ready to act quickly on rezonings when it is eventually released.

“They need to get cracking because of all the poor residents who have suffered through those roadworks,” he says. “I’m 100 per cent disappointed it’s taken this long.”

The council sees all these extra jobs coming from the hospital, medical services drawn to the area, shops, hotels and other new businesses. There are already plans for one new hotel on the site of the Parkway Hotel.

While some residents fear the plans will turn the suburb into “a mini Chatswood”, Cr Regan disputes that.

“Chatswood is significantly bigger, I would have thought, and significantly higher,” he says. “If we get this right, it’ll have more of a village feel. [Next to] a hospital that’s 24 hours, it’s a town centre which will have a day-time economy and a night-time economy.”

"100 per cent disappointed it's taken this long": Northern Beaches Council mayor Michael Regan.
“100 per cent disappointed it’s taken this long”: Northern Beaches Council mayor Michael Regan.

 

Cr Regan says the council has been having “positive discussions” with the state government about the proposed rapid transit bus service that he believes would cost about $3 million for buses every 10 minutes, seven days a week, based on fare revenue of $3.5 million to $4 million.

“A lot of the workers will get off the train at Chatswood,” he says. “They’re going to want a pretty quick bus with bugger all stops between there and the hospital.”

Dr Messara expects more medical services and other businesses to move into Frenchs Forest.

“Whenever you have a facility of this size, other services are drawn to the surrounding area,” she says.

Already staff say they need more childcare and Dr Messara believes the suburb will need more accommodation for people requiring recurring medical treatment, hospital visitors and staff on rotating shifts.

Health Minister Brad Hazzard, who lives locally, was frustrated by the slowness of the road works to service the hospital.
Health Minister Brad Hazzard, who lives locally, was frustrated by the slowness of the road works to service the hospital.CREDIT:BROOK MITCHELL

Million-dollar windfall vanishes

It could have been a million-dollar windfall. Two years ago, a group of 62 home owners in Frenchs Forest banded together to sell their houses collectively for almost $200 million.

They were planning to cash in on an expected rezoning by selling their houses near the new hospital as one parcel for medium-density homes or medical centre development.

The thinking was that rezoning could double or even triple the value of their homes.

The chairman of the consortium, David Tomlinson, estimated they could get more than $3 million for each house at a time when the average price, on Domain data, was $1.35 million.

 

Year Median price Number sold
2009 $765,000 180
2010 $850,000 227
2011 $854,000 172
2012 $850,000 185
2013 $890,000 203
2014 $1,020,000 236
2015 $1,270,000 206
2016 $1,420,000 144
2017 $1,645,000 140
2018* $1,540,000 133

* To September 26 in 2018 Domain data shows a marked slowdown in house sales during hospital construction and road works amid uncertainty over rezoning and future development. 

 

View:https://e.infogr.am/1pq99mgg0q1egjuqrmj5wj6y7ju0drnzz5j?src=embed#async_embed

Agent Matthew Ramsay called it the largest consortium of home owners he had seen in Sydney.

But the windfall never happened.

"We felt like we'd been shafted": David Tomlison.
“We felt like we’d been shafted”: David Tomlison.CREDIT:NICK MOIR

 

The consortium fell apart when they discovered their area would not be rezoned in the near future – with planning focused on a new town centre on the site of The Forest High School instead – leaving many home owners disappointed, frustrated and angry.

“We were shocked,” Mr Tomlinson says now. “We felt like we’d been shafted to be honest and that the decision was made to suit the government, not to suit the residents of the area.

“Obviously the state government is going to make a lot of money out of that high school site being redeveloped.”

With the consortium wound up, Mr Tomlinson says most home owners have decided to stay – at least for now.

“We think that after the roads are built and presuming the town centre is built and presuming the Northern Beaches Tunnel is built, this area will still be a prime residential development area.”

Garry Maddox is a Senior Writer for The Sydney Morning Herald.

 

SOURCE:   https://www.smh.com.au/politics/nsw/they-re-trying-hard-to-destroy-it-the-growing-pains-of-a-sydney-suburb-20180911-p502zp.html

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THE ‘TINY HOUSE’ PROMOTED AS AN ALTERNATIVE TO NURSING HOMES & RETIREMENT VILLAGES …

 

THIS may appear to be a good alternative … it is all very well but …

 IS this falling into the hands of the developers, real estate agents and even some academics who are out there blaming “older Australians” for aiding and abetting our housing crisis?

VIEW:  Are Older Australians to Blame for Booming House Prices? When will the Media be able to tell the truth?

https://caanhousinginequalitywithaussieslockedout.wordpress.com/2018/09/19/1962/

And:

https://caanhousinginequalitywithaussieslockedout.wordpress.com/2018/09/12/australians-discriminated-by-scomo-govt-policies-written-to-benefit-foreign-buyers/

IS this about pushing the idea of DOWNSIZING to suit the motives of others, promoting the redevelopment of the family home for medium and high-density housing?
IS this part of the blame game to shift the focus onto others allowing the developers more scope to solve the problem for they must at all costs avoid a ‘whole of community solution’ to housing availability and affordability

AS for the TINY HOUSE idea … it is cute but imagine an older person trying to access a loft bed area?

BESIDES,  it seems it was designed to accommodate only ONE (1) PERSON, again the assumption is older Australians are ‘on their own’ maybe they are, in other ways, with others hell-bent on marginalising them, and getting their hands on their assets!

Octogenarian’s tailor-made tiny house offers a retirement home alternative

 

While Australia reels from stories of malpractice in the aged care sector, perched petitely in regional Victoria is a house that could serve as an alternative model to a retirement home.

It’s Merle’s house — her tiny house, to be precise.

“I’m 82 years old and I can manage this easily, and I don’t have to depend on carers,” she says.

“I am completely independent.”

A tour inside Merle’s home

Merle moved into the tiny house earlier this year, and she hasn’t looked back.

Roughly 7 by 2.5 metres in dimension, her light-filled residence sits on her family’s country property.

But Merle’s home is completely self-contained, and it’s tailor-made to suit her specific physical requirements.

It has an entrance ramp leading to the home’s veranda, assistive bathroom rails in the shower alcove and touch-open cupboard doors.

There is underfloor heating and a hydraulic bed that she can raise with the press of a button during the day — revealing a couch underneath.

All for a price tag of around $150,000.

 

“I love the living, I love the warmth. I’m warmer here than I ever was in Queensland,” Merle says.

“There’s nothing in this home that isn’t great, and I love the half-hour of housework instead of four bedrooms.”

The house that Chris built

Chris Wenban — who isn’t of retirement age — also lives in a tiny house, next door to Merle.

She runs a tiny house construction company and, along with her business partner, built both homes.

 

She says she became “quite obsessed” with tiny homes for primarily environmental reasons, which eventually prompted her to move into one herself.

“I like efficiency. I like the idea of not having as big an impact on the environment and not having to spend as much money on housing,” she says.

She says there’s a common misconception that a tiny house is a just a fancy caravan.

But there are major points of difference in a tiny house.

 

“The look and the feel and the sense of space is completely different,” Ms Wenban says.

“My lowest ceiling height downstairs, because I have a loft bedroom, is two metres high in the kitchen and the bathroom.”

She sleeps in a loft that’s around a metre high. Her three-metre kitchen is full-size, as is her gas oven, and a “little, secret table” can be pulled out to make an office space.

She has a composting toilet, with solids that are emptied every three months into a nearby compost bin. Nasty pathogens are then killed off over the course of a year, before the resulting fertiliser is spread onto the garden.

“Most people advise putting it on fruit trees and not on your vegetable garden, because you don’t want to have that conversation with your dinner guests,” Ms Wenban says.

Fleeing a natural disaster — with your home

Both women’s houses are in Kinglake West, facing a ridge where, nine years after the Black Saturday bushfires, lifeless trunks are a grim reminder of how many people lost their lives in the small community.

In this context, a tiny home on wheels offers benefits that extend beyond sustainability.

 

“We permanently have a vehicle on site that will be able to pull the tiny houses out,” Ms Wenban says.

“Because they are on wheels, you can do that.

“So, our fire plan is, essentially, if we were in a situation where we thought that there was a fire that had started nearby, we could very easily just hook them up and pull them out.”

She says tiny houses are advantageous not only in the event of bushfires, but flooding too.

Surge in older buyers of tiny homes

Ms Wenban has taken her tiny constructions to home shows and farming expos, and says she’s surprised by the demographic of potential buyers she meets there.

“I would say about 20 or 30 per cent of those people are older people, either looking for themselves for the future [or for their] elderly parents,” she says.

“Everyone wants to look after their parents but the reality of having another family member living in your own house can be quite stressful.”

Tiny houses allow older people to live independently from a main household, but close to people who can keep an eye out for them.

“For a lot of people who get older it’s not [that] they need a high degree of care or that they can’t live independently anymore,” Ms Wenban says.

 

Rather, “two or three small things start adding up”, she says, like needing a stair-free home, or someone to monitor medication or a proper diet.

She believes these things alone “aren’t necessarily a great reason to go into an old people’s home”.

Ms Wenban says Merle is an example of someone successfully opting for a tailored tiny home over accommodation in an institution.

“Merle’s very independent,” Ms Wenban says.

“She has a separate physical space and it’s hers and people have to knock on the door when they come in.

“She continues her lifestyle as she normally would, getting up when she wants, eating when she wants, eating what she wants, and has very much that sense of independence.

“It’s very much her home.”

But if Merle needs a hand with a meal or to be run down to the shops, help is easily accessible.

Plus, says Ms Wenban, “it’s often good for your mental health when you’re around family, people who are going to check on you regularly”.

She believes we’ll see more living arrangements like Merle’s in the future.

“As councils realise that this is an alternative to people going in to old people’s homes, I think it will become more recognised, permitted and accepted,” she says.

“[A tiny house] can extend people’s ability to live independently for an extra number of years.”

SOURCE:  https://www.google.com.au/amp/amp.abc.net.au/article/10264960

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NEITHER SHOE-BOX APARTMENTS NOR DODGY BUILD TOWNHOMES MEET AUSTRALIAN STANDARDS!

A fridge, cupboard and bed inside a micro apartment in Sydney

NEITHER SHOE-BOX APARTMENTS NOR DODGY BUILD TOWNHOMES MEET AUSTRALIAN STANDARDS!

THIS reads like a report prepared for the developer lobby …

Targeting … Gen Y, the next Gen and Baby Boomers for the Townhouse

The lobby has rewritten NSW Planning Laws to rezone where we live for higher density along with complying development.

CAVEAT EMPTOR!

BECAUSE the next round will LIKELY be that in our five part series

“A Pondsy Scheme”.

EMAIL YOUR OBJECTIONS TO YOUR LOCAL MPs; demand rectification of Australian Standards in Home Building!

Shoe-box apartments won’t meet family-friendly housing demand as millennials come of age

By business reporter Stephanie Chalmers

PHOTO: As Generation Y start families, medium-density dwellings are tipped to be in demand, rather than small high-rise apartments. (ABC News: Lawrence Champness)

 

RELATED STORY: Australian housing prices are falling at their fastest rate in six years

RELATED STORY: Building approvals rebound as property sector shows resilience

RELATED STORY: Construction set for its biggest fall since GFC

The tiny inner-city apartments built during the boom of the past decade are unlikely to meet the needs of Generation Y as they grow older.

Changing demographics over the next 10 years are tipped to drive demand for smaller dwellings — but not that small, according to BIS Oxford Economics.

The economic forecaster has crunched the population numbers and concluded that rapid growth in the 20-to-34-year-old age bracket over the past 15 years will see Generation Y, or millennials, shape the residential property market over the next decade.

As Generation Y move into their late 30s and 40s and are more likely to be living in family households with children, they will need to balance convenience and affordability with home ownership and the separate dwellings typically sought after in that life stage.

“For people who would like to remain in the inner or middle suburbs, that’s going to be financially out of reach, so they’ll be looking for something that offers more amenity but will be at a more affordable price,” Angie Zigomanis from BIS Oxford Economics said.

“Probably the best type of dwelling that meets that compromise is a townhouse.”

Bigger apartments, outdoor spaces ‘missing from the market’

Investor demand has seen apartment construction boom — particularly in Sydney, Melbourne and Brisbane — but Mr Zigomanis said the studio, one and small two-bedroom apartments that are attractive to Generation Y as they rent in their 20s are unlikely to hold the same appeal as they age.

A line graph showing share of households living in townhouses and apartments rising between 1991 and 2016

PHOTO: BIS Oxford expects the trend towards townhouse and apartment living to continue (ABS, BIS Oxford Economics)

He is projecting increased demand for medium-density housing including townhouses, larger units and villas with at least three bedrooms.

Outdoor spaces, such as courtyards and rooftops, and more space inside, will also be in demand — something he said has been missing from the apartment market over the past decade.

Unit boom heading for a bust?

The apartment blocks soaring above capital cities look like heading into oversupply, and that means prices will fall.

BIS Oxford recently sounded an alarm over the residential building market, tipping the biggest fall since the GFC, led by a slump in high-density dwelling construction.

The large-scale, high-rise developments that sell apartments off the plan to investors do not hold the same appeal to owner-occupiers.

Mr Zigomanis expects those coming up behind Generation Y to continue to demand high-density apartments for rentals, but says growth will not be as strong as it has been.

“There’s not going to be the need to build as many new apartments as we have been,” he said, noting the next generation is a similar size to Generation Y.

Baby boomers tipped to add to townhouse demand

The growing over-65s segment of the population is not tipped to favour smaller apartments either.

BIS notes downsizing has been growing at a “glacial” pace and, even if it picks up, demand is not expected to be fulfilled by small, high-rise dwellings.

“Previous research that we’ve undertaken suggests that many baby boomers would still like to stay in the area that they’re living in, where they’ve already made friends and social connections,” Mr Zigomanis said.

A column graph showing changing age demographics from 2008 to 2028

PHOTO: The number of households in the 35-49 age bracket will increase over the next decade as Gen Y ages. (ABS, BIS Oxford Economics)

“Their preference will be towards two and three-bedroom townhouse-type dwellings as well, similar to that being demanded by Gen Y.

“Between them they will create, from our point of view, more demand in those inner and middle suburbs for that medium-density-type product over the next decade.”

Demand for medium-density housing is not as easy for developers to meet — apartment sites go up, but townhouse and villa-style developments require going out.

Disused industrial land or replacing detached houses on larger lots with multiple units could be a solution, according to Mr Zigomanis.

 SOURCE:  http://www.abc.net.au/news/2018-08-02/shoe-box-apartments-wone28099t-meet-demand-for-family-friend/10061710

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Downsizing decisions: Which type of home is best for low-maintenance living?

THE PUSH continues for older people to downsize and it is total B.S.

WHAT “the push” is about is opening up another market for developers to redevelop housing estates lived in by older residents …  to flog off 100 per cent overseas.

BEFORE “Selling Out” to downsize ensure that there is a market of suitable dwellings available for sale on the local Australian market!

YOU don’t want to be forced into buying an unsuitable property!  Or just anything!

THE MEDIUM DENSITY HOUSING CODE is being promoted for its suitability for Seniors however the developer can maximise profits with rows of terraces, townhouses and duplex … of 2 or 3 storeys …

THE “agent speak” here is of the competition for downsizing between cashed-up Seniors and First Home Buyers … however, in reality the buyer competition is from overseas.

REFER to these articles in “Downsizing” Category in CAAN WEBSITE:

-DOWNSIZING & MORE ABOUT THE PROHIBITIVE COSTS OF DOWNSIZING BESIDES STAMP DUTY!

-HOW TO ENCOURAGE SENIORS TO DOWNSIZE …

 

Downsizing decisions: Which type of home is best for low-maintenance living?

NEW HOUSING PLAN TO PUT MEDIUM DENSITY DEVELOPMENTS ON RESIDENTIAL LOTS ALMOST ANYWHERE IN NSW

 

Townhouses on the Pacific Highway in Hornsby.

January 14, 2017 ·

In response Hornsby Mayor Steve Russell – known for his pro development approach – said it would “affect the suburban nature of every street in the shire”.

AT CAAN we have had difficulty finding the minimum lot sizes for the different medium density developments in the Planning NSW documents. We had a recollection but in view of our inability to find the specific lot sizes for these developments it raises concerns about the proposed infiltration of medium density; it blunts any debate about it!

Hearsay works in their favour; puts off opposition.

COULD this be why so little is being said about it? The facts aren’t clear …

LUCKILY we came across this article from the Hornsby Advocate, and it reveals:

Minimum size lots proposed for complying development to townhouses, villas, etc:

-2 dwellings on a 400m2 lot
-3-4 dwellings on a 500m2 lot
-3-10 dwellings on a 600m2 lot

THOSE in the know are obviously salivating with the one most attractive to them being the 600 m2 site; there’s plenty around; they will go for the 10 to max out their profit.

THEN we came across the submission from STEP to Planning NSW and this reveals:

“The proposals would also lead to an effective blanket rezoning to medium density, with minor exceptions, of virtually all single dwelling, low density residential R2 land with a street frontage of 12.5 m or more and a minimum lot size of 400 m2.

The suite of medium density complying development types cover dual occupancies, manor houses (2 up, 2 down) and townhouses/ terraces depending on land size. For example 3 to 10 dwellings could be built in a terrace or townhouse type configuration on land with a minimum size of 600 m2.”

That it:

-will remove residents rights to object
-residents in R2 (low density) zones will suddenly find medium density development happening next door that they thought was not permissible under the existing zoning laws
-breaking down communities; with the loss of leafy treescapes; increased water runoff; loss of amenity; more congestion

BUT it appears that Planning NSW and the NSW Government want one size fits all!

Read more from STEP:
http://www.step.org.au/index.php/item/87-expansion-of-medium-density-housing

 

New housing plan to put medium-density developments on residential lots almost anywhere in NSW

A “ONE size fits all” approach to new housing may see up to 10 dwellings built on a single lot almost anywhere in NSW.

The changes, outlined in a NSW Government discussion paper to “fast-track delivery of housing options”, were described as “an absolute disaster” by Hornsby councillors last week.

The paper proposes medium-density housing be approved under the complying development process.

Complying development is a planning and construction approval issued by councils or private certifiers when a set of controls and requirements are met.

Hornsby Mayor Steve Russell said it would “affect the suburban nature of every street in the shire”.

“I don’t see any merit in this at all,” Cr Russell said.

Cr Nick Berman was pushing for townhouse development in the Hornsby Shire in 2013, but he does not agree with the new planning paper.

Councillor Antony Anisse said units are an “inappropriate product” for many people and medium density housing should be encouraged to fill the gap in Sydney’s housing shortage.

There are not enough incentives for this type of development at the moment, he said. However this proposal is “unacceptable currently”.

Pennant Hills Civic Trust president Andrew Wilson said the trust was concerned it would lead to “further ad-hoc, higgledy-piggledy, messily unplanned, unstructured, unstrategic development”. “We like people having a democratic right to object to a DA,” he said.

Hornsby councillor Robert Browne said it effectively rezoned NSW to a “one size fits all” regime with “the potential to change the whole character of our suburbs”.

Lots as small as 200m are being proposed, meaning many trees that characterise residential areas will “eventually disappear”, Cr Browne said.

The intent is to implement the plan and this was just the first round, he said.

The paper is open for comment until March 1 at: planspolicies.planning.nsw.gov.au.

A townhouse in Cecil Rd, Hornsby.

FAST-TRACKING DEVELOPMENT

■ 29 per cent of NSW 2013-14 development approvals were complying developments

■ Average 18 days to approve, compared to 70 days for a DA

Minimum size lots proposed for complying development to townhouses, villas, etc:

2 dwellings on a 400m2 lot

3-4 dwellings on a 500m2 lot

3-10 dwellings on a 600m2 lot

 

SOURCE:  https://www.dailytelegraph.com.au/newslocal/the-hills/new-housing-plan-to-put-mediumdensity-developments-on-residential-lots-almost-anywhere-in-nsw/news-story/a5568610188d6cd584b2ee5c5c78c79f

 

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DOWNSIZING & MORE ABOUT THE PROHIBITIVE COSTS OF DOWNSIZING BESIDES STAMP DUTY!

Research shows most seniors are emotionally attached to their home.

 

DOWNSIZING & MORE ABOUT THE PROHIBITIVE COSTS OF DOWNSIZING BESIDES STAMP DUTY!

CAAN … on further thoughts about “How to Encourage Seniors to Downsize” … we recommend you think about these!

https://www.macrobusiness.com.au/2017/05/encourage-seniors-downsize/

The article said itself ‘downsizing’ is not driven or avoided by:

-stamp duty
-loss of benefits

It is about needing a more suitable residence, that the family home is too much to look after due to:

-ageing/health issues
-costs
-relationship changes
-loss of partner

Most stay as long as possible, yes it is an emotional issue, something it seems these

ADVOCATES OF SQUEEZING OUT OWNERS OF DETACHED DWELLINGS in desirable areas are incapable of understanding.

The keenness that a cabal of interest groups have in promoting downsizing, and a broad based LAND TAX is alarming. Why has this emerged?

Could it be:

-they believe it demonstrates they are up to the task, showing government and others they are literally on the money, they have got the ideas

Or:

-are they desperate to come up with ideas that will funnel more housing into the grasp of developers

However:

-owing to compulsory superannuation more retirees are ‘self funded’, they don’t qualify for any government pension so the loss of benefits is irrelevant

MORE COSTS are involved in selling and buying (besides stamp duty) than acknowledged, and they are a real disincentive to relocating, just think about the costs of:

.inspections
.agents fees
.legal fees
.removalists
.fixing up the home for selling
.even small changes to the new home
.increased transport costs
.having the cash on hand to pay utility costs, insurance, levies and so on…

What about the fact that to downsize it will mean:

-moving away from the location enjoyed for sometime, and
-given the cost of metropolitan living it is unlikely not much money will be left in the coffers of those downsizing; there’s not going to be that lump of cash to be put into SUPER!

These ideas need to be called out for what they are … if they look like pig, smell like a pig and feel like a pig well then they must be a …

WE suggest perhaps this Think Tank are peddling a myth, or worse still they are building a belief that they want to be true … and if they bang hard enough some – especially those with the levers in their hands – might then allow it to happen, never mind the consequences!

WHAT FORCING SENIORS TO DOWNSIZE REALLY MEANS ….

-opening up another avenue for developers to landbank, demolish and redevelop to sell more “new homes” to foreign buyers … because the supply cannot meet the foreign demand!

SOME FACTS …

-that the Housing Affordability Crisis locking out a whole Cohort of Aus tralian First Home Buyers is due to LNP Government policies, it would seem have been written by the Developer Lobby!

-the 100% sell off of “new homes” to foreign buyers (FIRB ruling change)

-our suburbs have been rezoned for “Higher Density” both high-rise and medium density

-the inflated value of homes is due to the influx of black foreign money in our real estate

VIEW CAAN Facts Sheet for how the Housing Affordability Crisis was contrived!

 

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HOW TO ENCOURAGE SENIORS TO DOWNSIZE

 

HOW TO ENCOURAGE SENIORS TO DOWNSIZE …

An Analysis of the Report of the Grattan Institute “Why Australians Don’t Downsize … ” May 2017

Conclusion: “If they’re serious about making it easier for young Australians to buy a home, they will have to make tougher policy choices.”

CAAN:

-by enforcing the AML Legislation for the Real Estate Sector (the second tranche)

.to eliminate money laundering in Australian Real Estate
.to eliminate the Proxy onshore foreign buyer’s agent laundering the black cash and avoiding the higher stamp duty, fees and charges

-remove the 50/100% sell off of “new homes” to overseas buyers (FIRB rule changes)
.giving preference to foreign buyers particularly in China over a whole Cohort of Australian First Home Buyers

-put a stop to VISA manipulation on buying Australian real estate they gain a Residency Visa

.stop with the Guardianship Visa, Student Visas and Investor Stream

VIEW: https://www.macrobusiness.com.au/2017/05/encourage-seniors-downsize/

Macro Business By Guest in Australian budget
May 8, 2017

Encouraging senior Australians to downsize their homes is one of the more popular ideas

http://insidestory.org.au/options-for-housing-affordability-the-good-the-bad-and-the-cosmetic/

To make housing more affordable. The trouble is, incentives for downsizing would hit the budget, but make little difference to housing affordability.

It sounds good: new incentives would encourage seniors to move to housing that better suits their needs, while freeing up equity for their retirement and larger homes for younger families.

But the reality is different. Research shows most seniors are emotionally attached to their home and neighbourhood and don’t want to downsize.

When people do downsize, financial incentives are generally not the big things on their minds. And so most of the budget’s financial incentives will go to those who were going to downsize anyway.

Financial barriers to downsizing

There are three financial hurdles to downsizing. Downsizers risk losing some or all of their Age Pension, because the family home is exempt from the pension assets test, but any home equity unlocked by downsizing is not.

Downsizers also have to stump up the stamp duty on any new home they buy. For a senior purchasing the median-priced home in Sydney that’s now A$32,000. Finally earnings from the cash released are taxed, whereas capital gains on the home are not.

The Turnbull government has flagged the possibility of financial incentives in next week’s federal budget for superannuants and pensioners to downsize their home.

One proposal would exempt downsizers from the A$1.6 million cap on super balances eligible for tax-free earnings in retirement, or from the A$100,000 annual cap on post-tax contributions. But this would benefit only the very wealthiest retirees – just 60,000 retirees have super fund balances exceeding A$1.6 million.

More seniors would benefit from a proposal to exempt them from stamp duty when purchasing a smaller home. And many would benefit from a Property Council proposal to quarantine some portion of the proceeds from the pension assets test for up to a decade.

The trouble with all these proposals is that they would hit the budget – because everyone who downsized would get the benefits – but they would not encourage many more seniors to downsize.

Staying – or downsizing – is seldom about the money

Research shows that for two-thirds of older Australians, the desire to “age in place” is the most important reason for not selling the family home. Often they stay put because they can’t find suitable housing in the same local area.

In established suburbs where many seniors live, there are relatively few smaller dwellings because planning laws restrict subdivision. And even if the new house is next door, there’s an emotional cost to leaving a long-standing home, and to packing and moving.

And so, few older Australians downsize their home. According to the Productivity Commission, about 20% aged 60 or over have sold their home and purchased a less expensive one since turning 50. Another 15% have “strong intentions” to do so in the future.

When older Australians do downsize, their decision is dominated by non-financial considerations, such as a preference for a different style of house and living, a concern that it is getting too hard to maintain the house and garden, or the loss of a partner.

These emotional factors typically dwarf financial considerations. According to surveys, no more than 15% of downsizers are motivated by financial gain. Stamp duty costs were a barrier for only about 5% of those thinking of downsizing. Only 1% of seniors listed the impact on their pension as their main reason for not downsizing.

There are better and cheaper ways to encourage seniors to downsize
If governments do want to use financial incentives to encourage downsizing, budget sticks would be cheaper and fairer than budget carrots. Even if they have little effect on downsizing rates, at least they would contribute to much-needed budget repair and economic growth.

The federal government should include the value of the family home above some threshold – such as A$500,000 – in the Age Pension assets test. This would encourage a few more seniors to downsize. More importantly, it would make pension arrangements fairer, and contribute up to A$7 billion a year to the budget.

Asset-rich, income-poor retirees could continue to receive a full pension by borrowing against the value of the home until the house is sold. The federal government would then recover the cost from the proceeds of the sale. If well designed, this scheme would have almost no effect on retirees – instead it would primarily reduce inheritances.

State governments should abolish stamp duties on property, and replace them with a general property tax, as the ACT Government is doing. This would encourage downsizing, although only at the margins.

But the real policy justification is that it would help working age households to take a better job that’s only accessible by moving house, and so improve economic growth. It’s a big prize: a national shift from stamp duties to broad-based property taxes could add up to A$9 billion a year to the economy.

In short, the downsizing debate is a prime example of how governments prefer politically easy options with cosmetic appeal, but little real effect, on housing affordability. If they’re serious about making it easier for young Australians to buy a home, they will have to make tougher policy choices.

Article by Brendan Coates and John Daley from the Grattan Institute

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DOWNSIZING AND WHY AUSTRALIANS DON’T DO IT, AND THE LIMITS TO WHAT THE GOVERNMENT CAN DO!

 

DOWNSIZING AND WHY AUSTRALIANS DON’T DO IT, AND THE LIMITS TO WHAT THE
GOVERNMENT CAN DO!

MAY 2017

THIS opinion piece reflects the sort of LNP philosophy that leaves a bad taste in one’s mouth!

Recommending taxing elderly people to force them out of their homes that they worked 40 or more years to pay for!

Targeting them as “Asset Rich” is this in an attempt to create resentment from Millennials locked out of home ownership through sinister LNP Government policies?

For example “budget sticks” rather than carrots!

“The Federal Government should include the value of the family home above some threshold — such as $500,000 — in the age pension assets test” … the price of a one bedroom unit in Sydney …

“Asset-rich, income-poor retirees could continue to receive a full pension by borrowing against the value of the home until the house is sold.”

AND THIS ONE!

” … primarily reduce inheritances” this following the LNP locking out a whole Cohort of Australians from home ownership

KEYPOINTS:

-downsizers risk losing some or all of their age pension; though the family home is exempt from the pension assets test any home equity unlocked by downsizing is not

-downsizers have to stump up the stamp duty on any new home they buy; at May 2017 equates to $32,000 for the median-priced home in Sydney

-earnings from the cash released are taxed, whereas capital gains on the home are not

Downsizing: Why Australians don’t do it, and the limits to what the Government can do!

http://mobile.abc.net.au/news/2017-05-05/housing-why-australians-dont-downsize-and-what-the-govt-can-do/8500170?pfmredir=sm

OPINION THE CONVERSATION BY BRENDAN COATES AND JOHN DALEY, GRATTAN INSTITUTE

FRI 5 MAY 2017

A house for sale seen in Canberra

PHOTO Decisions about downsizing are often driven by emotional, not financial, considerations.

AAP: LUKAS COCH

Encouraging senior Australians to downsize their homes is one of the more popular ideas to make housing more affordable.

The trouble is, incentives for downsizing would hit the budget, but make little difference to housing affordability.

It sounds good: new incentives would encourage seniors to move to housing that better suits their needs, while freeing up equity for their retirement and larger homes for younger families.

But the reality is different.

Research shows most seniors are emotionally attached to their home and neighbourhood and don’t want to downsize.

When people do downsize, financial incentives are generally not the big things on their minds.

And so most of the budget’s financial incentives will go to those who were going to downsize anyway.

Financial barriers to downsizing
There are three financial hurdles to downsizing.

Downsizers risk losing some or all of their age pension, because the family home is exempt from the pension assets test, but any home equity unlocked by downsizing is not.

Downsizers also have to stump up the stamp duty on any new home they buy.

For a senior purchasing the median-priced home in Sydney, that’s now $32,000.

Selling the family home

Gerry and Rosemary Franklin made the tough decision to move into retirement accommodation after living in their family home for almost half a century.
Finally, earnings from the cash released are taxed, whereas capital gains on the home are not.

The Turnbull Government has flagged the possibility of financial incentives in next week’s federal budget for superannuants and pensioners to downsize their home.

One proposal would exempt downsizers from the $1.6 million cap on super balances eligible for tax-free earnings in retirement, or from the $100,000 annual cap on post-tax contributions.

But this would benefit only the very wealthiest retirees — just 60,000 retirees have super fund balances exceeding $1.6 million.

More seniors would benefit from a proposal to exempt them from stamp duty when purchasing a smaller home.

And many would benefit from a Property Council proposal to quarantine some portion of the proceeds from the pension assets test for up to a decade.

The trouble with all these proposals is that they would hit the budget — because everyone who downsized would get the benefits — but they would not encourage many more seniors to downsize.

Staying — or downsizing — seldom about the money
Research shows that for two-thirds of older Australians, the desire to “age in place” is the most important reason for not selling the family home.

Often they stay put because they can’t find suitable housing in the same local area.

In established suburbs where many seniors live, there are relatively few smaller dwellings because planning laws restrict subdivision.

And even if the new house is next door, there’s an emotional cost to leaving a long-standing home, and to packing and moving.

And so, few older Australians downsize their home.

According to the Productivity Commission, about 20 per cent of people aged 60 or over have sold their home and purchased a less expensive one since turning 50.

Another 15 per cent have “strong intentions” to do so in the future.

When older Australians do downsize, their decision is dominated by non-financial considerations, such as a preference for a different style of house and living, a concern that it is getting too hard to maintain the house and garden, or the loss of a partner.

These emotional factors typically dwarf financial considerations. According to surveys, no more than 15 per cent of downsizers are motivated by financial gain.

Stamp duty costs were a barrier for only about 5 per cent of those thinking of downsizing.

Only 1 per cent of seniors listed the impact on their pension as their main reason for not downsizing.

Better and cheaper ways to encourage downsizing
If governments do want to use financial incentives to encourage downsizing, budget sticks would be cheaper and fairer than budget carrots.

Even if they have little effect on downsizing rates, at least they would contribute to much-needed budget repair and economic growth.

The Federal Government should include the value of the family home above some threshold — such as $500,000 — in the age pension assets test.

This would encourage a few more seniors to downsize.

More importantly, it would make pension arrangements fairer, and contribute up to $7 billion a year to the budget.

Asset-rich, income-poor retirees could continue to receive a full pension by borrowing against the value of the home until the house is sold.

The Federal Government would then recover the cost from the proceeds of the sale.

If well designed, this scheme would have almost no effect on retirees — instead it would primarily reduce inheritances.

State governments should abolish stamp duties on property, and replace them with a general property tax, as the ACT Government is doing.

This would encourage downsizing, although only at the margins.

But the real policy justification is that it would help working age households to take a better job that’s only accessible by moving house, and so improve economic growth.

It’s a big prize: a national shift from stamp duties to broad-based property taxes could add up to $9 billion a year to the economy.

In short, the downsizing debate is a prime example of how governments prefer politically easy options with cosmetic appeal, but little real effect, on housing affordability.

If they’re serious about making it easier for young Australians to buy a home, they will have to make tougher policy choices.

Brendan Coates is a fellow at the Grattan Institute.

John Daley is CEO of the Grattan Institute.

Originally published in The Conversation:

https://theconversation.com/why-older-australians-dont-downsize-and-the-limits-to-what-the-government-can-do-about-it-76931

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