Mega Thread Rental market where you are? (Plus housing and the homeless)

[Rob R]

Unit average (all units)
Sydney $571
Canberra $557
Melbourne $453

All capitals $510
National $510


House average (all houses)
Sydney $748
Canberra $865
Melbourne $582

All capitals $686
National $582


Canberra's housing stock is newer on average though, which may account for some of it.
Even when I moved up here a scummy unit in one of the lower priced suburbs was higher than what I paid for a (still scummy, but) better place in South Yarra. That was not newer stock in either city, uninsulated top floor in Canberra.
At that time buying was cheap by Australian standards, but renting was a nightmare - partly because there was higher turnover every Christmas. People doing their 12 or 24 month stint in the capital before returning to the state and regional offices weren't buying in Canberra.

Canberra rental market is a nightmare for two key reasons:

• Very few people actually want to settle here so why buy
• No matter the government or economic state, the Canberra workforce will always grow. One department in 2018 was ordered by their minister to grow outside Canberra. The result, their workforce in Canberra has grown by hundreds while their workforce in every other state (where they actually delivered outputs) shrank to pay for the ever bloating Canberra workforce.

On SM-A125F using BigFooty.com mobile app

 

[Big Papa Ted]

In favour of this even as someone who benefits from the rules but if we're capping the max number of benefits id like to see the same thing applied to having kids. Shouldn't get benefits for perpetually being on maternity leave and not contributing

Any decision on negative gearing (and policy in general) needs to take into account we need policy to get people off public purse reliance. Investing in a rental does that. Reward hard work and sacrifice, not those who just expect the government to bail them out when they havent saved a cent in a lifetime of work.

I don't think people who own an investment property are on the public purse.

 

[burge13]

I don't think people who own an investment property are on the public purse.

Without the rental property they may resort to it. You should be trying to keep people off it is my point. Age pension costs going to get very expensive if everyone is reliant on that. Investment properties help people fund their own retirement. Its a good thing despite the serial losers moaning claims otherwise

 

[Big Papa Ted]

Without the rental property they may resort to it. You should be trying to keep people off it is my point. Age pension costs going to get very expensive if everyone is reliant on that. Investment properties help people fund their own retirement. Its a good thing despite the serial losers moaning claims otherwise

Yeah, at the detriment of someone else's home ownership. If someone didn't invest in property, they could put it into stocks, their super, bonds etc.

People owning multiple domestic dwellings isn't a good thing for society. The evidence of it this is being outlined in this thread.

Domestic dwellings shouldn't be a commodity.

 

[Chief]

Squatting: What is your view? Valid or a crime? Good or bad? Or somewhere in between?

 

[Madas]

Squatting: What is your view? Valid or a crime? Good or bad? Or somewhere in between?


View attachment 2201677

Yeh nah

But there are plenty of unused buildings that the government could make available to homeless people

When I was doing the Oz backpacker thing in London early 90’s , one of my many jobs was as a security guard , mostly on unused old buildings.
Every day I’d see heaps of homeless people in the tube stations and on the streets yet there were hundreds of empty buildings sitting unused and I couldn’t help but think why some of them weren’t made available to the homeless.

On the bright side though .
One of my rounds was the old Battersea power station that is on the cover of Pink Floyd Animals album
That was pretty cool

 

[Sttew]

Squatting: What is your view? Valid or a crime? Good or bad? Or somewhere in between?


View attachment 2201677

Its okay, provide squatting is not accompanied by criminal damage and the property is genuinely abandoned.

A classic case - The Point at Albert Park Lake. One time 2-hat restaurant had been vacant since just before Covid. For over a year middle aged squatters camped under the enclosed veranda. They minded their own business and kept the area as clean as possible, rolling their mattress up each day, but someone (presumably Parks Victoria) evicted them in early 2024. Within 6 months the building was heavily graffitied by teenagers and then a week later, torched. Its now boarded up and a sad eyesore