When apartments are the minority in a suburb, their success often hinges on what’s available without needing a car.&nbsp;

Raya by <a href="https://www.urban.com.au/developers/core-developments">Core Developments</a> arrives at a time when apartment options in Gungahlin remain limited, and demand for well-located, walkable housing continues to grow.

Located on Ernest Cavanagh Street, <a href="https://www.urban.com.au/new-apartments/raya-gungahlin-ernest-cavanagh-street-gungahlin-act-2912">Raya</a> places residents within the most active part of Gungahlin.&nbsp;

Retail, dining, education and transport are all within close walking distance, with many of the suburb’s primary amenities located within a 150 to 300 metre radius.

“Raya has got the best to both worlds. A great looking building, that will be built impeccably. It will stand the test of time, and add enduring value for any buyer. And, this is quite simply the best residential location in <a href="https://www.urban.com.au/developments/gungahlin-act-2912">Gungahlin</a> with immediate access to every amenity Gungahlin has on offer. You could quite easily sell your car if you move here,” James Herbert of <a href="https://www.urban.com.au/project-marketer/lj-hooker-project-marketing-act-0">LJ Hooker projects</a> said.

<img alt="Raya, Gungahlin" data-entity-type="file" data-entity-uuid="266b0b21-f56b-4d93-9039-e9e17a2c4b71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/e450173a099aaad8055757c92e45efb1-1600x0-c-default.png?VersionId=4X06Ja6e9pQTjOo4QKBEfKiRP1T7hR68" />

Marketplace Gungahlin - the suburb’s main shopping precinct - is less than a two-minute walk from the site. It offers access to major retailers including Woolworths, Aldi, BIG W and Kmart, along with a variety of services, medical centres, and fitness providers.

Dining options in the surrounding blocks are diverse and expanding. Longstanding local favourites like Le Bon Mélange and EQ Café are now joined by new arrivals such as Ikigai Ramen, The Usual and Sunday Canberra, reflecting Gungahlin’s emerging reputation as one of Canberra’s up-and-coming café and dining destinations.

While apartment living often calls for easy access to open space, Raya benefits from its proximity to several parks and recreational facilities. Yerrabi Pond District Park is just minutes away and offers walking trails, playgrounds, and picnic spots, as well as outdoor fitness equipment and a skate park.&nbsp;

Gungahlin Enclosed Oval and the Gungahlin Leisure Centre are also nearby, supporting a range of community and sports activities.

<img alt="Raya, Gungahlin" data-entity-type="file" data-entity-uuid="6b2ebc21-8257-4144-ad11-3970a73d5125" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/RAYA_2Bed-Living_nochair_3000-2000x0-c-default_0.png?VersionId=BJUJN_k6tZL9p9Lzq13m9OzyyKPstKQY" />

Public transport is a core strength of the location. The Gungahlin Place Light Rail stop, one of the network’s terminal stations, is located less than 100 metres from the development, providing direct access to Canberra’s inner north and CBD. Several local bus routes also operate from the same area, making car-free commuting a realistic option.

The immediate area also includes a number of schools catering to all levels, from early years through to college. Franklin School is within walking distance, while Gungahlin College and Burgmann Anglican School are both around two kilometres away. Childcare centres, health services and veterinary clinics are all established in the precinct.

Medical clinics, pharmacies, allied health services and a public walk-in centre are all available within the town centre footprint.

<img alt="Raya, Gungahlin" data-entity-type="file" data-entity-uuid="7b35a7c5-dbee-491a-8ec4-ee41c06505b5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Raya_INT03_Rooftop_FP_3000-1600x0-c-default_0.png?VersionId=mTcDlZi3gAUq_spekHAWlWd5kvCbTiH3" />

Raya comprises 166 one, two and three-bedroom apartments, each with a private outdoor area. Balconies start at eight sqm, with some larger configurations offering upwards of 50 sqm of external space - a feature that aligns with the nearby parklands and active public spaces.

Buyers can secure an apartment now with a five per cent deposit, ahead of the project’s 2027 completion.

[smartcode_project_cta:default project_id=149952]

Joel Robinson

Raya: Rare apartment living in Gungahlin’s town centre

Leeka Group has gone down the path of bringing a heightened level of wellness to its recently unveiled Melbourne apartment development, Comme Prahran.

It isn't in the form of a suite of amenities, given the building is more boutique in nature with just 32 apartments, but with clever inclusions designed to uplift their residents lifestyle.

<a href="https://www.apartments.com.au/new-apartments/comme-prahran-182-194-commercial-road-prahran-vic-3181">Comme</a>, directly opposition the iconic Prahran Market on Commercial Road, has been designed by renowned architecture studio <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> and&nbsp;will introduce the first-of-its-kind multi-dimensional wellness offering, where physical, mental, social, environmental, and cultural well-being are embedded throughout.

“Prahran has long been a destination for culture, community and quality of life, and Comme builds on that in a deeply intentional way,” says Leeka Director, Chek Ming Cheng.&nbsp;

“This project introduces a new kind of urban sanctuary, one that adapts to individual definitions of wellness, whether that’s through nutrition, rest, movement, design or connection. Every space has been thoughtfully shaped to support the diverse rhythms of modern life."

[smartcode_project:default project_id=108413 project_image_fid=353544]

There will be a rooftop with a&nbsp;Zen garden designed by <a href="https://www.apartments.com.au/landscape-architect/plume-studio">Plume Landscape Architects</a>, offering&nbsp;a sensory experience that activates all five senses, an edible herb wall to taste, calming botanicals to smell, reflexology paths to feel, lush plantings to see and the gentle sounds of water and birdsong to hear.

Inside each residence, wellness is deeply personal, and Comme embraces this individuality with a suite of customisation options designed to enhance both health and lifestyle. Residents can tailor their homes with circadian lighting automation, supported by research linking it to improved well-being, better rest, and even longevity.&nbsp;

[smartcode_project:default project_id=108413 project_image_fid=353546]

Other add-ons residents can opt for include real-time air monitoring and purification systems, ensuring a cleaner, healthier environment, while blackout blinds help optimise sleep quality. Additionally, the option to include integrated smart home technologies and security measures with multiple controlled access points offers ease, convenience, and peace of mind, supporting day-to-day living and contributing to overall mental well-being.

Kitchens can be fitted with healthy cooking appliances such as steam ovens and taps for instant filtered, sparkling or hot water, while ensuites can be transformed into spa-style sanctuaries complete with steam showers, heated floors, rain heads, smart toilets, and sensor night lights to support restful sleep cycles. In the penthouse residence, further options include an outdoor spa for enhanced recovery and indulgence.

“Comme isn’t just about design, it’s about how space can support your day-to-day life," Chek added.

"Whether you like a steam shower, checking your indoor air quality, simply enjoying a quiet moment in the rooftop garden, or reflecting on the artworks in the building, wellness is part of your everyday routine, not an afterthought."

[smartcode_project:default project_id=108413 project_image_fid=353543]

The residences will feature open-plan layouts compliant with Better Apartment Design Standards (BADS), with floor-to-ceiling windows that maximise ventilation, natural light and thermal comfort. Finishes such as natural stones, timber flooring and low-VOC paints are complemented by facade design that filters dappled light and aids in thermal comfort.

Cera Stribley, Co-Founder, Domenic Cerantonio, said the first thing you notice is the light.

"Natural light floods the living spaces, casting a soft glow that instantly lifts your spirits. It's as if the outside world melts away, and you're cocooned in a peaceful oasis."

The gallery-style residential lobby will feature circadian-inspired lighting and artwork, while the ground-floor will offer retail and hospitality spaces.

The building’s mixed-use design fosters connection, with ground-floor retail and hospitality creating a vibrant, welcoming destination. These spaces are thoughtfully designed to enhance the precinct and bring it to life.

&nbsp;

[smartcode_project:default project_id=108413 project_image_fid=353545]

Sustainability and environmental responsibility are integral to Comme Prahran’s DNA. All homes are gas-free and designed to a 7-star energy average, with double glazing, WELS-rated plumbing, and EV charging capabilities available. A light-coloured exterior has been chosen to minimise heat absorption, supporting thermal efficiency and reducing reliance on artificial cooling.

Honouring the cultural richness of Prahran, the project reimagines an Edwardian-era landmark, integrating its historic character into a contemporary architectural form. Art experiences will activate the residential and retail lobbies, and a dedicated artwork on the external eastern facade will enrich the building’s street presence, embedding it into the creative fabric of the neighbourhood.

&nbsp;

[smartcode_project_cta:default project_id=108413]

Comme Prahran launches opposite Prahran Market

Apartment developer Third.i has seen "overwhelming interest" in its recently unveiled new harbourside apartment project, The Rushcutters.

<a href="https://www.apartments.com.au/new-apartments/the-rushcutters-51-57-bayswater-road-rushcutters-bay-nsw-2011">The Rushcutters</a>, which is being delivered in partnership with James Packer's NPACT, will comprise just 13 luxury two- and three-bedroom apartments.&nbsp;

Demand is predominantly coming from local downsizers.

[smartcode_project:default project_id=144646 project_image_fid=351903]

“We’ve been absolutely blown away by the level of interest in The Rushcutters,” said Luke Berry, Director and Co-founder Third.i Group.

“It’s clear that buyers are seeking more than just a place to live, they’re looking for a lifestyle upgrade. The ability to amalgamate apartments into expansive, whole-floor homes is a game-changer for downsizers who want space without the maintenance of a traditional house.”

The Rubinstein Group is marketing the project alongside Hume Residential and JLL.

“It’s no surprise that if you’re downsizing from a five-bedroom house in Bellevue Hill, for example, you want to maintain that sense of space and luxury when looking for your next home, "&nbsp;Gavin Rubinstein, Founder of The Rubinstein Group, said.

“The Rushcutters is a great fit. Amalgamating apartments to create a bespoke, whole-floor home is a natural progression for buyers who aren’t willing to compromise on size and/or quality.”

[smartcode_project:default project_id=144646 project_image_fid=351901]

Amalgamating apartments has become a common theme among high-end buyers across Third.i's portfolio including Muse in Potts Point, and Elevate Hume Place in Crows Nest, which set a Lower North Shore apartment record with the $15.1 million sale of an amalgamation of a penthouse and sub-penthouse.

“We’re witnessing a clear shift towards more amalgamations in a number of our projects across Sydney,” said Jason Fraser, Principal at Woods Bagot.

[smartcode_project:default project_id=144646 project_image_fid=351899]

“The ability to combine apartments is enabling buyers to create truly unique, house-sized residences with high-end finishes, and proximity to vibrant urban precincts. The desire to amalgamate apartments to bespoke, house-sized residences is becoming a defining feature of Sydney’s evolving luxury apartment market."

Due to the City of Sydney’s no net dwelling loss policy, Thirdi is only able to offer one level for amalgamation at The Rushcutters, combining two apartments into a single, expansive residence.

[smartcode_project_cta:default project_id=144646]

The Rushcutters a "great fit" for downsizers

Lower North Shore developer <a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> has secured development approval for its ultra-luxury residential project on the <a href="https://www.apartments.com.au/new-apartments/34-burran-avenue-mosman-nsw-2088">dress circle Burran Avenue</a>.

The project, just&nbsp;50 metres from Balmoral Beach within Mosman’s prestigious Golden Triangle, will commence construction in early 2026,&nbsp;following the successful completion of its nearby Hampden Mosman project.

Lodged in April 2025 and approved in September 2025, the development will comprise three whole-floor residences, each designed to capture panoramic harbour views through Sydney Heads.

<img alt="34 Burran Avenue, Mosman" data-entity-type="file" data-entity-uuid="7f4c7816-0ac8-4ef7-be0a-8ef23b693b68" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/BURRAN%20EV01%20R04%20option%201%20%281%29.jpg?VersionId=gVzI8pT6_K59Nhzaz0FLEvY6Kj9Kc8Fg" />

Set on an elevated 550 sqm corner site at the junction of Burran Avenue and Stanton Road, the building has been designed to sit within Balmoral’s natural slope. The façade mixes stone and metal cladding with angular forms, while oversized terraces and full-height sliding doors create a connection between interior living spaces and outdoor entertaining areas.

The delivery team from Abadeen’s Hampden Mosman project, which includes construction company Reform Projects and interiors company Mathieson, has been retained to bring the same level of execution and craftsmanship to Burran Avenue.

<a href="https://www.apartments.com.au/architects/platform-architects">Platform Architects</a> has been appointed project architect, bringing extensive experience from recent luxury residential projects in Manly, Fairlight and Freshwater.

&nbsp;

Justin Brown, Executive Chairman and Founder of Abadeen, said sites of this calibre, this close to Balmoral, are incredibly rare.

“Burran Avenue is an extraordinary site; its location, its scale and its outlook make it truly one of a kind. Receiving DA approval marks an exciting milestone for Abadeen."

"We’re proud to be moving forward with an exceptional team to deliver a project that will set a new standard for ultra-luxury living on Sydney’s Lower North Shore. Construction is planned to commence in early 2026, and interest is already strong from discerning local buyers who recognise the uniqueness of this address."

Brown anticipates prices will set new Mosman benchmarks above $20 million. Sales are expected to launch in March 2026.

Abadeen approved for Mosman's priciest apartments

Lifestyle developer <a href="https://www.apartments.com.au/developers/gurner">GURNER™ Group</a>, in partnership with Costa Property Group, has announced plans to reimagine Cunningham Pier in Geelong, one of Victoria's most recognisable heritage landmarks.

The announcement follows the City of Greater Geelong’s release of its Draft Geelong Waterfront Master Plan, which seeks to revitalise the waterfront with new energy, tourism, and investment. GURNER and Costa Property Group’s vision aligns with the Council’s ambitions to create a vibrant, connected, and economically powerful precinct for the community.&nbsp;

The future of Cunningham Pier will draw inspiration from Sydney Harbour’s luxury waterfront residences through to Dubai’s sculptural pier-edge towers, blending architectural excellence with &nbsp;resort-style living, hospitality, and public amenity.&nbsp;

The concept, described as “Saint Moritz on the Sea”, is envisioned to include:&nbsp;

<ul>
	<li>Six-star hotel accommodation and services&nbsp;</li>
	<li>World-class restaurants, bars, and public spaces&nbsp;</li>
	<li>High-end residential offerings&nbsp;</li>
	<li>Entertainment and cultural venues&nbsp;</li>
	<li>Potential cruise ship port facilities, integrating Geelong into the global travel network&nbsp;</li>
</ul>

The transformative project aims to become a magnet for tourism, investment, and innovation, while &nbsp;ensuring continued public access and connection to Corio Bay’s pristine waterfront.&nbsp;

Cunningham Pier has been operated by Costa Property Group for more than 15 years, with the City of Greater Geelong expressing strong support for strategic commercial partnerships that unlock &nbsp;tourism-led economic development for the region’s fast-growing population.&nbsp;

Tim Gurner, Founder &amp; Executive Chairman, GURNER™ Group, said the project is a "once-in-a-generation opportunity to put Geelong on the global map," adding that their version will be of what icons like the Opera House, Story Bridge or Empire State Building have done for other great cities.

“We’ll be working hand-in-hand with the Mayor, Council, the local community, and State Government to deliver something truly iconic that positions Geelong on the world stage. This project brings together everything we’ve built our brand on – world-class design, hospitality, &nbsp;lifestyle, and experience – all in one place. From six-star hotels and restaurants to the possibility of a &nbsp;new cruise ship terminal and luxury residences, the vision is extraordinary.”&nbsp;

City of Greater Geelong&nbsp;Mayor Stretch Kontelj said he welcomes the "bold and inspiring vision reimagining our beloved Cunnigham Pier as a global destination."

"This ambitious plan and the opening of Nyaal Banyul Geelong Convention and Event Centre next year have the potential to take our already world-class waterfront to even greater heights.”

Sydney Harbour, Dubai pier towers, to influence Gurner's Cunningham Pier, Geelong development

Ahuri

<html><body>
There are 50,000 households that face high housing cost burdens themselves, following the pandemic, who also own a private investment property.
There are 956,000 households living in housing affordability Stress (HAS) in Australia, according to a new AHURI report that looked into the impact of COVID-19, with Commonwealth rent assistance (CRA) reducing the number to 758,000.
The situation of the 50,000 was "cause for concern given that private renters have been disproportionately affected by the downturn," the report noted after modelling from the University of Adelaide and Curtin University.
<div class="page" title="Page 24">
<div class="layoutArea">
<div class="column">
There is considerable potential for highly leveraged households owning an investment property, who are spending a higher proportion of their incomes on their own housing costs, to run into trouble meeting those costs and/or the servicing of their investment loan commitments, it noted.
"We estimate that there are around 37,500 mortgage home owners living in HAS who also own an investment property, and approximately 12,000 private renters in a similar position."
</div>
</div>
</div>
It is estimated that the overall number of households living with HAS would have risen to 1,336,000 (from the 758,000 baseline) without the JobKeeper and JobSeeker interventions.
<div>The study found that the number of households living in a precarious situation is very high, and will likely remain high even after a partial recovery in 2021 and the withdrawal of much of the Australian Government’s income support measures.</div>
<div> </div>
<div>Without an extension of the JobKeeper income support measures beyond March 2021, the number of households living in HAS is likely to increase significantly, the AHURI report concluded.</div>
<div> </div>
<div>Households living with HAS and owning an investment property themselves are predicted to more than double.</div>
<div> </div>
<div>The report noted JobKeeper and JobSeeker interventions reduced the incidence of housing a fordability stress by a considerable amount: 861,000 households compared to 1.34 million without the intervention.</div>
<div> </div>
<div>"As JobKeeper moves through its later phases, the predicted number of households in HAS is expected to gradually rise by a further 124,000; 73 per cent of these households are private renters."</div>
<div> </div>
<div> </div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

50,000 investors in mortgage stress put their tenants in precarious position 

<html><body>
Having the best and most up-to-date research findings delivered by AHURI’s eight leading university research partners will enhance decision making that effects many of the most vulnerable Australians, as well as supporting the economic recovery from the crisis, according to Adrian Harrington, Chair of AHURI. 
The research, which will be fast tracked to deliver findings in the second half of 2020 examines topics across the housing continuum including: 
After the pandemic, can building homes rebuild Australia? 
By freezing the economy and social interactions, Australia has shown great success in reducing the spread of the virus, however it has come at a huge cost to employment.
The housing industry has been widely promoted as an ideal mechanism for delivering economic stimulus, but how should does it actually have the capacity to deliver economic stimulus in periods of economic crisis and what forms should such response take? 
Renting in the time of COVID-19: understanding the impacts.
The economic downturn resulting from the COVID-19 pandemic has placed many in the rental market at risk; they face uncertainty, tenure insecurity and financial hardship.
Guided by the needs of policy, this project rapidly generates a nationwide dataset and essential reporting on the impact of COVID-19 on tenants. 
Housing affordability stress during COVID-19
This examines the impacts of COVID-19 on housing affordability stress (i.e. paying more than 30 per cent of income for housing) for home buyers and tenants across different housing types and household configurations. 
Other projects will consider pathways to regional recovery, understanding the impacts of policy responses to the pandemic, impacts on landlords as well as tenants, and impacts on those in marginal housing settings. 
"This is the first time that AHURI has funded rapid research projects on this scale and reflects the urgent need for quality research to support urban and housing policy innovation given the significant impact that COVID-19 is having on Australia's urban environments and housing markets," said Mr Harrington. 
"The Agenda was launched in collaboration with AHURI’s partner universities." 
"We’re very proud at how quickly our research teams came together to develop these projects’, says Dr Michael Fotheringham, Executive Director of AHURI. 
"Having the best and most up-to-date research findings will enable governments at all levels to develop policies that support Australians during and beyond the pandemic, and help deliver safe, secure and affordable housing for all."
The eight rapid-response projects will be published by AHURI in the second half of 2020.
</body></html>

Eight COVID-19 research projects to inform housing policy response: AHURI

<html><body>
Older Australians desperately want to avoid the private rental market with 80% instead pursuing hopes of suitable ownership options, according to recent research.
But the housing supply is not meeting the needs of older Australians, the report from the Australian Housing and Urban Research Institute (AHURI) found. 
Older NSW home owners aspire to remain in home ownership, preferring to live in three-bedroom separate dwellings in Sydney's middle to outer suburbs. 
There is a smaller preference to reside in small regional towns or large regional cities.
Those aged 75 and over were more likely to have a preference for the inner suburbs.
Few aspired to live in the CBD. And only 2% wanted a one bedroom apartment.
While the number of bedrooms, building quality and dwelling type are important, safety and security and having somewhere that feels like home are more critical for older Australians.
The number of older Australians increased by almost three million between 2006 and 2016, while the Australian Bureau of Statistics estimates the number of older Australians will more than double from 5.8 million in 2012 to 14.1 million in 2062.
The survey results from AHURI follows recent accompanying research that shows mortgage debt obligations for older Australians is a growing concern, rising from $27,000 in the 1980s to $186,000 more recently.
Since 2006, the proportion of outright owners has fallen in the 55–64 year group, with falls still significant, but less dramatic, among those aged 65 or over.
Around 35% of 55–64-year-olds have a mortgage compared to 8% of those over 75.
Policy innovation is severely lacking in delivering the housing and housing assistance required to meet the aspirations of later-life Australians, AHURI has concluded.
"Current patterns of housing supply are not meeting the diverse needs of older Australians with too many apartments and large separate dwellings and not enough mid- sized product," the Older Australians and the housing aspirations gap report, lead by James Rowley, noted.
The Australian Housing Aspirations survey collected responses from 2400 responses from older Australians.
The report urges the better matching of new housing supply to aspirations to meet the demand for two and three-bedroom houses (including attached) located in high level amenity locations.
Social connections within the community, walkability, quality public transport, access to services and amenities and proximity to family and friends are important.
While large back gardens are less important to older Australians, some outdoor space was considered important.
"Dwellings need to be designed with older Australians in mind, which includes being easily adaptable when required," the report said. 
"Strategic planning needs to deliver outcomes that reflect the demand for smaller houses within established suburbs and move away from a mind-set that apartments are the only solution to delivering smaller dwellings.
"Regional locations also need a greater diversity of dwelling product.
"Small regional towns were a popular aspiration of older Australians, but there needs to be a range of products available in these locations to meet demand."
The report also noted delivering low cost, low deposit ownership products, through shared ownership or through a land rent type scheme, could deliver the safety, security and control characteristics of home ownership sought by older Australians.
Any Federal Government initiatives that seek to reduce financial penalty via taxation in later years to enable housing transitions, are generally supported by the research.
</body></html>

jchancellor-FAypfDUnLy

Older Australians overwhelmingly prefer home ownership to renting

<html><body>
While early adulthood is traditionally seen as the period when young adults begin to live independently, new AHURI research reveals that many young Australians are putting their longer term housing aspirations on hold to meet other life goals such as completing education or gaining secure employment.
In 2015-16, only 17% of young adults aged 18-24 years lived independently, with most (66%) still living with their parents.
Furthermore, around a third of Australians aged 25–34 either remained or moved back with parents or lived in shared housing.
The research, Young Australians and the housing aspirations gap, undertaken for AHURI by researchers from Swinburne University and Curtin University, examined the short and longer term housing aspirations and the housing aspirations gap (i.e. where current housing is not meeting people’s requirements) among ‘emerging adults’ (aged 18–24 years) and ‘early adults’ (aged 25– 34 years).
<a href="https://www.propertyobserver.com.au/images/2019/8/15/emerging%20adults%201.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/15/emerging%20adults%201.jpg" alt="">
"As house prices and rents have risen ahead of incomes, it is taking longer for young adults to create their own independent and secure households, and for some it is not attainable in the foreseeable future," says the report’s lead author, Dr Sharon Parkinson of Swinburne University.
"This has led many to staying or returning to the family home, or taking up informal living arrangements such as living in group households."
The ideal of home ownership is not as persistent as for past generations, varying with age, education and quality of current living arrangement. 60% of Australians aged 18–24 years and 70% of those aged 25–34 years identified owning and living in their own home as their ideal tenure. This compares to 80% of older Australians.
For emerging adults (18-24 years) sharing a house with a group typically met their short-term (82%) but not longer-term (25%) aspirations. While living with parents mostly met short-term (76%) but not longer-term (30%) aspirations.
<a href="https://www.propertyobserver.com.au/images/2019/8/15/emerging%20adults%202.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/15/emerging%20adults%202.jpg" alt="">
For early adults (25–34 years) the housing aspirations gap is greatest for individuals in the private rental sector. For interviewees renting privately, the requirement to move house was the one constant in their lives.
Short-term aspirations for this group were shaped around ‘horizontal’ moves or finding an arrangement slightly better than the previous move, but with no sense of moving upwards or being closer to achieving their longer term housing hopes.
Despite rising housing costs, most 18-24 year olds thought homeownership would be possible in the near future.
"We found that many emerging adults had a ‘blind optimism’ that they would be able to achieve their housing aspirations despite not actively planning for their housing future," says Dr Parkinson.
"Nearly a third of those we surveyed felt that they would be purchasing a home within the next five years with a further 36% believing they would buy in 5 to 10 years." 
By early adulthood there is a sharp divide in optimism influenced by education and income levels.
<a href="https://www.propertyobserver.com.au/images/2019/8/15/emerging%20adults%203.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/15/emerging%20adults%203.jpg" alt="">
Nearly two-thirds (61%) with a tertiary education and a higher income believe they would buy a property within five years, compared to just over a third (36%) for those with an education to year 12 or below, and less than a quarter (23%) for those with an education to year 11 or below.
<ul>
<li>More young Australians are not only being priced out of home ownership, but independent rental housing too. Only 17% of Australians aged 18-24 lived independently in 2015-16, and most (66%) lived with parents. Meanwhile, around a third of Australians aged 25–34 remained or moved back with parents, or lived in shared housing.</li>
<li>The ideal of home ownership is not as persistent as for past generations, varying with age, education and quality of current living arrangement. 60% of Australians aged 18–24 years and 70% of those aged 25–34 years identified owning and living in their own home as their ideal tenure. This compares to 80% of older Australians.</li>
<li>Despite house prices and rents rising ahead of incomes, 18–24 year olds held a ‘blind optimism’ for home ownership. 32% felt that purchasing a dwelling would be attainable within the next five years; and 36% considered it attainable in 5–10 years. This optimism decreases by early adulthood (25–34 years), influenced by education and income levels.</li>
</ul>
The report <a href="https://www.propertyobserver.com.au/http://www.ahuri.edu.au/research/final-reports/318" target="_blank">can be downloaded</a> from the AHURI website.
</body></html>

Young Australians want a home to call their own, but work and study come first

<html><body>
Between 1987 and 2015, the average real mortgage debt among older Australians (aged 55+ years) blew out by 600 per cent, according to new AHURI research.
Debt rose on average from $27,000 to over $185,000 in 2015, while their average mortgage debt to income ratios tripled from 71 to 211 per cent over the same period.
The research, <a href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=5eXH0qSKdBRphS6WO4YlQwwSTi8wtQOqejFjZKiddbCzZ5Bbl4XDYQCWwbAwBqZ18LgCZBIb7Ta2Ris72KQtLUjhTZ0hAoyRqWksKLvDgQGF%2FheDfJf5RQl5rEECNjoziHOV36ncRpk%3D&amp;G=0&amp;R=https%3A%2F%2Fwww.ahuri.edu.au%2Fresearch%2Ffinal-reports%2F319&amp;I=20190826210314.00000732f17f%40mail6-43-usnbn1&amp;X=MHwxMDQ2NzU4OjVkNWNkN2UyNjJkNTM3OTAwYzljNTU2ZDs%3D&amp;S=R75KvJmZUsaCszbwp8Ep3zYi24dIZMln-LMCKx88_CQ" target="_blank" data-auth="NotApplicable">Mortgage stress and precarious home ownership: implications for older Australians,</a> was undertaken for AHURI by researchers from Curtin University and RMIT University.
It investigates the growing numbers of older Australians who are carrying high levels of mortgage debt into retirement, and considers the significant consequences for their wellbeing and for the retirement incomes system.
"Our research finds that back in 1987 only 14 per cent of older Australian home owners were still paying off the mortgage on their home; that share doubled to 28 per cent in 2015’, says the report’s lead author, Professor Rachel ViforJ of Curtin University. "We’re also seeing these older Australians’ mortgage debt burden increase from 13 per cent of the value of the average home in the late 1980s to around 30 per cent in the late 1990’s when the property boom took off, and it has remained at that level ever since.
"Over that time period, average annual mortgage repayments have more than tripled from $5,000 to $17,000 in real terms." When older mortgagors experience difficulty in meeting mortgage payments, wellbeing declines and stress levels increase, according to the report.
Psychological surveys measuring mental health on a scale of 0 to 100 reveal that mortgage difficulties reduce mental health scores for older men by around 2 points and an even greater 3.7 points for older women.
Older female mortgagors’ mental health is more sensitive to personal circumstances than older male mortgagors.
Marital breakdown, ill health and poor labour market engagement all adversely affect older female mortgagors’ mental health scores more than men’s. "These mental health effects are comparable to those resulting from long-term health conditions," says Professor ViforJ.
"As growing numbers of older Australians carry mortgages into retirement the rising trend in mortgage indebtedness will have negative impacts on the wellbeing of an increasing percentage of the Australian population." High mortgage debts later in life also present significant challenges for housing assistance programs.
The combination of tenure change and demographic change is expected to increase the number of seniors aged 55 years and over eligible for Commonwealth Rent Assistance from 414,000 in 2016 to 664,000 in 2031, a 60 per cent increase.
As a consequence the real cost (at 2016) of CRA payments to the Federal budget is expected to soar from $972 million in 2016, to $1.55 billion in 2031.
The unmet demand for public housing from private renters aged 55+ years is also expected to climb from roughly 200,000 households in 2016, to 440,000 households in 2031, a 78 per cent increase. There are also challenges for Government retirement incomes policy.
The burden of indebtedness in later life is growing; longer working lives and the use of superannuation benefits to pay down mortgages are increasingly likely outcomes.
The full report can be <a href="https://www.ahuri.edu.au/research/final-reports/319%20" target="_blank">downloaded here</a>.
</body></html>

Mortgage debt for older Australians soars 600 per cent and is impacting their mental health: AHURI

<html><body>
A ‘get tough’ approach to crime and anti-social behavior is leading to considerable impact on families relying on social housing, a new report says.
The Australian Housing and Urban Research Institute (AHURI) report found that women affected by domestic violence are generally strongly supported by social housing landlords.
However, this commitment may falter during a social housing tenancy.
The <a href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=I%2BqMhXDuIS2RujNbavWSOKShOr7Ezi73JeGvxlkJ09Qb0kDpZZQFeCTzmgUtUg1%2BzQeAWO80e2F3J%2F4q2HWFLF4FXbnSC1lXyjLygVwAtvkM0e27vOJOWpKowpV1KI6EYUpJH4RSSjI%3D&amp;G=0&amp;R=https%3A%2F%2Fwww.ahuri.edu.au%2Fresearch%2Ffinal-reports%2F314&amp;I=20190612200354.000004df3d18%40mail6-46-ussnn1&amp;X=MHwxMDQ2NzU4OjVkMDA1MmIyYjA1ZjM5NTQ1MjYyMTNiYTs%3D&amp;S=WZsJZYyE7ljme70grOAcnPQELSIwGmgRHugo_o9zLag" target="_blank">Social housing legal responses to crime and anti-social behaviour: impacts on vulnerable families </a>report was conducted by researchers from UNSW Sydney and University of Tasmania.
It looked at social housing tenancies law, policies and 95 cases of eviction proceedings in five jurisdictions— New South Wales, Tasmania, Victoria, Western Australia and the Northern Territory.
It also analyzed national policy principles relating to four groups of vulnerable people: women affected by domestic violence; children; Indigenous families; and people who problematically use alcohol and other drugs.
<a href="https://www.propertyobserver.com.au/images/2019/6/13/social%20housing.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/13/social%20housing.jpg" alt="">
“Tenancy obligations and extended liability impose hard expectations that women will control the misconduct of male partners and children,” said lead researcher Dr Chris Martin from UNSW Sydney.
“In tenancy legal proceedings violence against women becomes framed as a ‘nuisance’ and some women are evicted because of violence against them.
“The cases involving drug offences in particular show a punitive approach, with very minor offences, or offences involving visitors or family members often resulting in termination proceedings.
“In some cases, tenants are evicted even though the criminal justice system outcome is to allow rehabilitation at home.”
The report suggested several policy changes that could be made to help social landlords, including:
<ul>
<li>reviewing the gender impacts of social housing policies and practice and sponsoring the cultivation of respectful relationships</li>
<li>adopting ‘the best interests of the child’ as the paramount factor in decisions about termination affecting children</li>
<li>establishing specific Indigenous housing organisations, officers and advocates</li>
<li>adopting harm minimisation as the guiding principle for responses to alcohol and other drug use, including where there is criminal offending.</li>
</ul>
“Responding to anti-social behaviour and misconduct in social housing is plainly a very challenging area of practice,” said Dr Martin.
“Many of the cases we reviewed involved highly conflictual, destructive and distressing behaviour.
“It appears that in most cases a single substantial contact between the social housing landlord and the tenant was sufficient to address any problems.
“However, where problematic behaviour continues, the usual course of escalating threats to the tenancy and pushing the tenant to ‘engage’ with the landlord and support services does not work for many.
“In those cases, people who are vulnerable may be evicted from their social housing, often into homelessness.
“We need to bring support out of the shadow of termination.”
</body></html>

Social housing terminations are hurting vulnerable families: AHURI

<html><body>
EXPERT OBSERVATION
The Australian Housing and Urban Research Institute (AHURI) report on affordable housing policies should support incentive approaches but must not increase apartment costs.
The AHURI report by a number of Australian academics is a useful exploration of trends and policies across the world but the Sydney market is different.
Many countries use taxation deductions and other incentives to achieve a supply of affordable homes.
Even the South Australian system referred to in the report is different to anything proposed in Sydney as it defines 15% of homes for sale at a reduced price.
This is much more feasible than giving 15% of all your homes to the local council.
Houses and apartments in Sydney are amongst the most expensive in the world when related to household income.
Much of this high price is driven by restrictions on zoning new land for residential homes according to the Reserve Bank report on ‘the Effect of Zoning on Housing Prices’.
The zoning effect increased Sydney per house price by a whopping $489,000 and in Melbourne by $324,000.
On top of all this there is a range of levies and taxes added to the cost of a dwelling by the NSW Government and the local council.
To add even more cost to new dwellings as proposed by AHURI will only drive overall housing costs upwards.
The AHURI preferred approach is to have inclusionary zoning only applied to apartments yet apartments have already become the affordable way to live for many Sydney households.
The average apartment in Sydney is around 40% cheaper than the average house so this dwelling type has become the affordable way to live for many households.
AHURI however proposes an inclusionary zoning system that can only lead to forcing apartment costs up.
We should be getting other building types like detached houses, commercial and retail developments to contribute to affordable housing rather than add an extra cost to the most affordable dwellings in the city.
The Urban Taskforce has developed an approach to providing up to 40,000 affordable homes across Sydney over a ten year period.
We propose using the Affordable Rental Housing SEPP that gives an uplift in floor space if 20% of the apartments are affordable rentals for 10 years.
The incentive needs to also be 20% and this will encourage most developers to provide a percentage of apartments that are lower in rent than the market.
Stronger leadership by government on affordable housing policies is needed in NSW.
Currently the Department of Planning and Environment controls some policies, the Greater Sydney Commission proposes targets only on uplift and if feasible yet many councils are pushing for inclusionary zoning percentages that would make new housing projects unviable.
The Urban Taskforce is keen to work with all agencies to get a Sydney approach to housing affordability that is sustainable in the long term.
CHRIS JOHNSON is the Urban Taskforce CEO.
</body></html>

cjohnson-8xfqfuuCSq

AHURI’s affordable housing proposals will only push unit prices up: Chris Johnson

<html><body>
The most recent ABS Survey of Income and Housing 2013–14 reveals that households buying their first home are older than they were over a decade ago, according to AHURI's recent brief.
In 2000–01 over 60 percent of first home buyers were aged between 25 and 34 years old, by 2013–14 that had dropped, with just under half (49.6 percent) of first home buyers being between 25 and 34 years old.
<a href="https://www.propertyobserver.com.au/images/2017/02/21/Screen%20Shot%202017-02-21%20at%204.57.38%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/21/Screen%20Shot%202017-02-21%20at%204.57.38%20pm.jpg" alt="">
This indicates that households are delaying buying a home, which in turn could mean they are still paying off their home when they reach retirement age.
Indeed, as other ABS Housing Occupancy and Costs data shows, the proportion of households aged 65 and over still paying off their mortgage has more than doubled, having risen from 3.6 per cent of all households aged 65 and over in 2000–01 to 8.2 per cent in 2013–14.
</body></html>

Ahuri

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Ahuri

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.