Let me start this month’s message by talking all things housing… Our Chief Advisor, Nigel Stapledon has prepared a short piece on the supply argument, the Stevens Report and the Sydney Housing Market. “There is an argument out there, which defies the laws of gravity but keeps getting printed in our media, that somehow supply does not matter when it comes to housing.” Read Nigel’s article here.
Further to this, credit must be given to those state governments who have started to respond to the affordable housing challenge. Additional stamp duty cuts and other incentives has seen the entrance of more first-home buyers into the property market. In Victoria, the number of first-home buyers using stamp duty concessions has more than doubled after the Victorian State government introduced several savings measures nearly three months ago.
More than 2100 Victorians have used first-home buyer incentives since July 1, including 1850 who paid no stamp duty when buying their first property, according to state government figures released last week. The incentives also appear to have been particularly popular in regional centres including Ballarat, Bendigo and Shepparton.
Keeping with the housing affordability theme, the ‘build-to-rent’ housing model is getting plenty of air-time as some experts claim that this potential game changer in the Australian housing market could be worth an estimated $300 billion within the next couple of decades, particularly if the multifamily sector evolves in the same vein as the US. While the emergence of this sector won’t be a total solution to the housing affordability challenge, it should go a long way in helping first-home buyers and investors with limited funds enter the property market.
Airtasker co-founder Jonathan Lui is taking on the property market with his newest venture, with a start-up he describes as a "LinkedIn for property," which aims to change the way people buy and sell their homes. It says its main differentiator to other online property businesses comes from the ability to connect with other property owners and facilitate a "digital doorknock". Soho enables owners and agents to create and manage online property profiles, with the option of allowing potential buyers and renters to reach out for details via in-app messaging. MacroPlan
Meanwhile, MacroPlan’s very own Proptech innovator Brian Haratsis is preparing to release his latest book, Autropolis: The Diverse Mobility Revolution. Dubbed as the next ‘big thing’, the mobility revolution is set to be bigger than PC’s and bigger than smartphones because it will create business opportunities and spatial restructuring from day one. Brian’s book is mandatory reading for businesses, policy makers, planners and daily commuters to help understand how and when Automated vehicles will transform Australia and why it matters. Scheduled to be launched in November, please get in touch if you would like an advanced copy and/or presentation to your company.
I’d like to wish everyone all the best this weekend for their respective Grand Finals. May the best teams win!
To discuss any of the items mentioned above, please contact my office on 02 9221 5211 or send an email to email@example.com .