Housing supply hits all-time low in the Hunter

BY DAKOTA TAIT

There's concern the Hunter's homelessness crisis is only worsening, as the number of available rentals hits an all-time low.

New data reveals just 0.7 percent of properties across the region were vacant in December last year.

A healthy market usually hovers around a 2.5 percent home vacancy.

The Hunter Tenants Advice and Advocacy Service are concerned more and more people are facing eviction and homelessness.

Coordinator Nicole Grgas says it's a shocking situation.

"They might not necessarily be homeless in what we think, that they've got no bed, but they're going from relative's house to relative's house," Ms Grgas.

"We hear families are having to split up to stay with relatives, or people having to put all of their goods in storage because they've just got nowhere to move on to."

It's likely driven by a number of factors, such as rising rents, low supply due to more out-of-town renters and buyers looking for a seachange, and bidding wars for private rentals.

Many locals have reported termination of rental contracts as their homes are put on the market by the owner.

Ms Grgas says the issue isn't likely to go away on its own.

"One of the things that seems to be putting a lot of pressure on tenants in our region are the rent increases, and no grounds notices," Ms Grgas said.

"It's something that we think can be looked at and legislated."

"It would take pressure off people who are currently in rental housing, because what they're saying to us is, I've got this rental increase, it's now unaffordable, and now I need to relocate."

The organisation is also calling for more investment in social housing to alleviate pressure on the market. 

 

Budding homeowners left out of pocket in Privium collapse

BY DAKOTA TAIT

Families, couples and budding homeowners across the Hunter are concerned they could be left with no house and no deposit following the Privium Homes collapse.

It's been revealed a number of customers handed over cash to the company, without knowing Privium had not attached mandatory insurance to their contracts.

The Department of Fair Trading is investigating at least 11 cases where the mandatory insurance wasn't purchased. 

Jarrod Sansom, a full-time PhD student, says he and his partner can't afford to build a home with a different firm unless they get their deposit back.

"The $16,000 that we've lost, that we can't afford to lose now that the cost of building has gone up, and as a student I don't really have much money to go around," Mr Sansom said.

"It's very difficult, I'm just trying to be strong for my partner."

FTI Consulting have since approached a number of affected people with forms to become unsecured creditors.

While Fair Trading has also launched investigations, it's unclear where homeowners stand.

"We just did what we were told," Mr Sansom said. 

"It was our first time buying a house, so we jus trusted the professionals and we never saw anything, any information, that would indicate that Privium were in trouble, by any means."

Homeowners, subcontractors, and other unsecured creditors are expected to soon vote at a creditor's meeting, in a push to replace administrators appointed by Privium Homes boss Robert Harder to oversee the liquidation with independent ones.

But in the meantime, Mr Sansom says it's been radio silence.

"We should just be able to do what we want now, but that's not the case, and we've been told, to get clarity, you should contact a solicitor because the answers aren't here yet," Mr Sansom said.

"But that's fifteen hundred more dollars at least. It feels wrong to spend more money, when they're in the wrong, like they've taken our money, and now I've got to spend more money to get answers or to get things back on track?"

Honeysuckle units hit market

BY TARA LOUIS

Doma Group's latest residential development will see 52 new apartments in Honeysuckle on the market this week.

The Halycon units will offer one, two, three and four bedroom options in the heart of the city.

154 of the units have already been sold by Collier's International due to pre-registration and advertising.

Collier's Residential Director, Dane Crawford, is expecting the units to sell quickly due to popularity and demand in the Newcastle area.

"The honeysuckle precinct has proved to be popular with buyers wanting to be really close to that working harbour.

"With the light rail and large infrastructure projects, we've seen a lot of developments take place and developers have more confidence investing their money in the city," Mr Crawford says.

The Halcyon units will be placed on the market this Friday, August 3rd.

Proposed Halcyon apartments. Photo: Newcastle Herald