Australia's Housing Crisis is Insane.

Australia's housing crisis has just worsened. Not only are Australian's having to invest 10x their annual income just to buy a home, the rental market is facing a huge supply problem. These factors are leaving Australian's unsure where to turn next. But is there hope on the horizon?

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★ ★ CONTENTS ★ ★
0:00 Australia's Housing Crisis
1:20 The Problem
3:45 Housing Unaffordability
10:35 The Rental Crisis
12:25 Will Conditions Improve?

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[TheBestTru]

1300 per month is not 67, 600 per year

[Tony-shho]

It also doesn’t help that the QUALITY of new homes is absolutely atrocious. Builders commonly go into liquidation after settlement and start a new business to avoid repercussions.

[baits]

Polititians don't care, they have a home . The rest can suffer .

[Salta-ktnh]

I left Australia mainly due to the housing crisis . I had had a gut full of the Australian wet dream of property. It’s all by design. The banks, the real estate industry and the Govt have all colluded to create the great divide between the haves and have nots. And we Fkd up with immigration too. The Australian dream is over for the majority

[JohnnysCafe_]

So in 1988 a small Sydney house sold for $150, 000, then 35 years later that house costs $1, 100, 000. that is an astronomical increase.

[Randale-Joe]

There is one more major factor this video doesn't address which increase the scarcity and prices of rental apartments in the City - overseas investors buying apartment units, not renting them out but just keeping them empty, waiting for the prices to go up and sell them in the future.. that has been going on for years!

[sevrantw]

Great summary.

Builder here, I do around $200mil a year across residential and commercial. Since last October $23mil of projects on my book haven’t gone ahead due to lack of land, changing profitability. This is only creeping up and I don’t blame anyone for not taking the punt on new projects.

Also the regions for affordability have been ruined by opportunistic city dweller investors. The regions were safe and cheap for retirees, country workers and other people needing that product (think people with disabilities, low income). There is no where to go now, the same pain a successful couple feels paying $1000/week in rent whilst they try and save for a mortgage the regional people are feeling proportionally or worse with their changing dynamics.

It’s just a sad story all around right now.

[enigmaticloremaster]

My father used to laugh at me when 25 years ago I told him half jokingly that one day we will all be paying over a million to buy a house. And now I seen it all come true, along with the mass surveillance of the entire world population as predicted in many of the movies of that time.

[sutho]

Please do more videos on Australia! I often watch on my tv so I can not comment from that device but after seeing this video I knew I had to comment to encourage you to do more videos on Australian issues. Keep up the great work!

[SC-ntph]

Good segment, you mentioned some of the big issues driving the crisis. There are other factors too which are worth a mention.
Some have already made mention of the tax incentives of property ownership but there are other factors such as government initiatives, there's been many of these such as first home owners grants. Everytime the government introduced these housing prices rose in line, builder grants, same deal, the government is just about to introduce zero deposits for first home buyers, again the net result will be higher demand and consequently higher prices.
And a big factor is most Australian politicians wealth is held in real estate, they are of the age that has benefited most from the price one of them will make a policy to negatively impact themselves.

[Wheezyboi]

I’m a 25 year old, forced to move back into my father after being priced out of a rental. My parents divorced 8 years ago and now my mum also has to move into the house as she has no where to go and will be homeless. In 2 weeks my sister and her husband will be moving in too with their pets. It’s ridiculous

[danhato]

I think you're the only one who has mentioned the real problem. Australia's population is extremely concentrated in the big 5 cites and there has been a major lack of investment in regional development for decades.

[UltimateGattai]

Don't forget the amount of builders that are collapsing, seems like we have a new one every week, also the quality of some of these new homes, especially in NSW, construction is rife with shortcuts and corruption in the past decade plus.

[buryitdeep]

Overseas migration 2022-23 – net annual gain of 518, 000 people. Where is the infrastructure for these people?

[kristalenz]

By the time the government realized the problem there was too much money tied up in the ever inflating market. Politicians in Australia wont touch anything that would even slightly inconvenience the rich of this "country".

[jarradwilliams]

You’ve missed some pretty big ones on the demand side. There is Negative Gearing for tax purposes, Capital Gains Tax Concessions, ability to use tax advantageous vehicles like trusts, foreign investment is allowed and now the ability to buy property through a self managed super fund.

[APTTech]

Where I live in Ireland, someone listed their shed for €195K. "1 Bed 40 m² Detached". Wild.

[felixpeel]

The thing people don’t consider these days vs our grandparents, is the rise of women in the work force. Where a family used to be a single income household, they’re now dual income households. This makes it a huge disadvantage in buying a house when you’re single.

[sydneyNemesis]

it’s worth mention that the blue ribbon suburbs or affluent suburbs do not have this problem, as they don’t sell for mortgage stress and that they are increasing at a higher rate then the average suburbs

[ttakenaka]

Well, it might take a little bit longer than explained in the video the housing market to be Because of the reason, the last 2 years, more than half of the buyers coming to the open house or auction to get house were "New Australians (from Chinese culture area or Hindi cultural area in Asian countries....) They are not highly depending on the mortgage from Australian banks. Because of they were bringing their families wealth from their mother countries. It was the reason why, "Interest rate hiking" did not effect this crazy housing price rising.

I am a local property sales agent in Queensland....