Jim Flanagan, a tenant residing in one of Prime Minister Anthony Albanese’s investment properties in Dulwich Hill, Sydney, is confronting eviction after receiving a notice due to the property being sold amidst personal changes. Paying $680 weekly in rent, Flanagan, a small-business owner, has highlighted the difficulties faced by renters, particularly during the current cost-of-living crisis.
RBA Finds No Direct Link Between Interest Rate Hikes and Rising Rents in Australia
The Reserve Bank of Australia (RBA) has clarified that the recent series of interest rate increases, which have raised the cash rate from 0.1% to 4.35% over two years, are not directly responsible for the surge in rental prices across the country. According to RBA assistant governor Sarah Hunter, the primary drivers behind escalating rents are the persistently high demand for housing and inadequate supply.
Legal Battle Ensues in South Australia Over Alleged Asbestos Contamination in Recycled Road Base
Homeowners in South Australia, including Amy and Jason Varacalli, have united in a legal fight following allegations of asbestos-contaminated waste being improperly used on their properties. The Varacallis, like others, purchased recycled road base unknowingly tainted with asbestos, leading to significant construction setbacks and financial hardships.
Victorian Government Introduces Energy Efficiency Standards for Rental Properties
The Victorian government is set to implement new heating and cooling standards for rental properties, aiming to enhance energy efficiency and affordability for renters. These standards mandate minimum requirements for insulation, draught proofing, hot water efficiency, and cooling systems in rental homes across the state.
Half of Australian Homes Vulnerable to Natural Disasters, Facing Insurance Challenges
New research has revealed alarming statistics indicating that half of all homes in Australia are susceptible to natural disasters, posing significant challenges for homeowners. Approximately 5.6 million properties are at risk of bushfires, nearly 1 million are vulnerable to floods, and thousands more are threatened by coastal erosion.
Roseville Residents Sell Historic Homes for High-Density Housing Amid Government Push
Residents in Roseville, a picturesque suburb in Northern Sydney known for its historic homes, are making significant decisions to sell their properties. This move comes in response to the state government’s ambitious plan to increase housing density near transport hubs, including train stations.
Bruce Lehrmann Faces Legal Action Over Property Damage and Rent Loss in Sydney
Bruce Lehrmann, known for his involvement in a high-profile defamation case, is now embroiled in legal proceedings over significant damage caused to a rented property in Sydney. During an exclusive TV interview arrangement with the Seven Network, Lehrmann reportedly caused damages amounting to $13,250 at a Balgowlah property owned by Lady Gaenor Meakes.
ATO Warns Landlords: Accuracy in Tax Returns Crucial to Avoiding Costly Errors
Housing affordability remains a pressing concern in Australia, shaping the landscape of property ownership and investment. As the dynamics of property ownership evolve, access to finance emerges as a significant challenge for both homebuyers and investors seeking to expand their portfolios.
Hobart Anticipates Urban Shift with Rise in Apartment Living
Housing affordability remains a pressing concern in Australia, shaping the landscape of property ownership and investment. As the dynamics of property ownership evolve, access to finance emerges as a significant challenge for both homebuyers and investors seeking to expand their portfolios.
Brisbane Introduces Permit System for Short-Term Accommodations
Housing affordability remains a pressing concern in Australia, shaping the landscape of property ownership and investment. As the dynamics of property ownership evolve, access to finance emerges as a significant challenge for both homebuyers and investors seeking to expand their portfolios.