Homelessness Week highlights lack of housing solutions in Port Stephens

 BY JAMES CARTER

Port Stephens Council is encouraging the community to get involved in housing solutions for those experiencing homelessness.

There are over 116,000 people experiencing homelessness on any given night in Australia.  

Hume Community Housing provides homes and services to people in Port Stephens. The number of people accessing temporary accommodation in Port Stephens through Hume last financial year was 320, with a further 1,264 enquiries.  

Sally Regan, Hume’s Senior Manager Social Outcomes, says temporary accommodation is in short supply in Port Stephens. 

"We have had an increase in demand in enquires for people seeking accommodation in the last 12 months, that has happened nationally in regional areas"  

"Families with low incomes that find it hard to break into home ownership are now being priced out of the private rental market." Ms Regan said. 

Headleasing is when an owner leases a property to a community housing provider, which then sub-leases the property to clients approved for social housing.

The provider pays full market rent and bond and conducts repairs for the entire lease, while providing a family with a secure home. 

Ms Regan says Hume is always looking for more housing options in Port Stephens. 

"This is an extraordinary opportunity to make a difference to a family on a very low income who just cannot find private rental."

Newcastle's Housing Prices Fall Flat for the First Time in 18 Months

BY JESSICA ROUSE

Experts say the flattening out of Newcastle's median house price was inevitable after a considerable housing boom this year.

The median house price has dropped by 2.5 per cent in the September quarter going from $610,000 down to $595,000 in Newcastle.

Compared to other regional areas Newcastle is quite attractive affordability wise; the median house price in Wollongong is $650,000 and $750,000 in the Southern Highlands.

Domain group Chief Economist Dr Andrew Wilson said we're one of the strongest regional growth areas when it comes to house prices and this is the first time they've fallen flat in 18 months.

Dr Andrew Wilson. Image domain.com.au

"Despite that quarterly fall in prices, Newcastle house prices are now up by 13.3 per cent over the past year and it has certainly been one of the strongest performing regional centres in Australia over the last year and there's been some consolidation there recently,"

"Similar to Newcastle, Wollongong after very strong growth over the past year has also tracked backwards over the September quarter down by 1.9 per cent. And similar to Newcastle, Wollongong's median house price has increased by 13.9 per cent over the past year and I think this is just another story of consolidation of very strong prices growth," said Domain group Chief Economist Dr Andrew Wilson.

Dr Wilson believes tighter bank lending to investors who were quite active in Newcastle is taking some of the blame for the drop in the median house price.

He said the flattening is a part of the cycle of house price growth and fall.

"The market's now finding a level and I wouldn't be surprised if prices continued to grow over the year, but I don't think we'll see the same sort of results we've seen in terms of the rate of growth and the boom time rate of growth over the last year."

Sydneysiders have discovered what Newcastle has to offer and are buying up, and even better the lower prices are better for first home buyers who don't need to pay stamp duty at the moment either.

"Newcastle still offers some considerable affordability advantages to the Sydney market. The current median of $595,000 in Newcastle is still well below the Sydney median which is just under $1.2 million," said Dr Andrew.

Now could be the time to buy your first house

BY JESSICA ROUSE

First home buyers in the Hunter now have more incentive to buy a house under the state government's new housing affordability package.

Announced last week by Parliamentary Secretary for the Hunter Scot MacDonald, the reforms will see stamp duty abolished for first home buyers on properties up to $650,000 and a discount on properties up to $800,000.

However, Executive Director of the Housing Industry Association in the Hunter Craig Jennion says in some aspects of the package, the government may giveth what they may taketh away.

"The intention to, in the next couple of years, increase the cost of infrastructure back to the developer taking away from subsidies the state government had been providing, our concerns are that the state government is handing out to first home buyers in one level and giving them a discount, but in a couple of years time that discount maybe actually removed because of the increase in infrastructure costs," in the form of an infrastructure levy.

Scot MacDonald believes the government has found a 'sweet spot' for the Hunter where housing is available at a lower price and the package could really be of benefit. Savings could reach more than $20,000 and he says it just makes buying a house all that more attractive.

"Ontop of that we will also be abolishing the insurance duty on lenders, mortgage insurance. This is aimed fairly and squarely right at people trying to get into the housing market for the first time," said Scot MacDonald.

"We acknowledge that is a step in the right direction particularly for regional locations like the hunter where we do have a great diversity and price points for first home buyers so in most cases first home buyers should very easily be able to purchase a home and pay no stamp duty," said Craig Jennion.

First Home Buyers to Get a Fair Go

BY DANIELLE RIES

Parliamentary Secretary for the Hunter Scot MacDoanld has announced a comprehensive package which will include the reduction of stamp duty for first home buyers.

This reform will give aspiring first home buyers a fair go when searching for their own home as more housing choices will also be made available. 

These reforms announced with NSW Premier Gladys Berejiklian can save aspiring first home buyers around thirty-four thousand three hundred and sixty dollars. 

Scot MacDonald says the abolishment of certain policies will benefit first home buyers. 

"For the first time, we will be abolishing stamp duty for first home buyers and for all new and existing homes up to the value of six hundred and fifty thousand dollars and there are further discounts up to eight hundred dollars.

"Ontop of that we will also be abolishing the insurance duty on lenders, mortgage insurance. This is aimed fairly and squarely right at people trying to get into the housing market for the first time"

He also says this package will make the Hunter more attractive to first-time buyers. 

"Six hundred and fifty thousand dollars doesn't buy you a lot in Sydney but of course in the Hunter Valley, you can get even into a new house at those sorts of levels. I just think it's incredibly important, I think it'll make the Hunter Valley more attractive for people.

"Stamp duty was always a big hurdle and now as I say you have savings of over twenty thousand. It think that makes it a lot-lot more affordable" 

Scot MacDonald 

A report has found we'd rather renovate than move.

BY JESSICA ROUSE

Rather than move to a bigger house, Hunter residents are choosing to renovate their existing properties according to the latest Housing Industry Association (HIA) report.

The latest report found the region recorded the second largest volume of renovation approvals, totalling more than $63 million dollars, of any area across NSW during 2015/2016.

"Things like interest rates, growth in prices of dwellings in the area, consumer confidence - are they going to be able to get a job in the next coming years to pay off the loan that they may have taken out and of course how easily they can get finances," said HIA Executive Director Craig Jennion.

The appetite for renovations is spurred on by the substantial rise in house prices with residents more willing to renovate and less willing to pack up and move to new home.

Craig Jennion says it's not only looking good for the Hunter in the short term but the long term as well.

"We're expecting here in the Hunter to see continued growth particularly in the renovation market and around that 10 per cent mark which will be fantastic for the local industry and in our new dwelling areas we're still expecting to continue to see considerable growth in the short term until we start to see what happens with interest rates."