Posted to The Age (21/12/2011) on 21/12/2011 at 10:58 PM (Not published by Newspaper)
Commenting on "Housing shortage bites as supply fails to keep up"
http://theage.domain.com.au/real-estate-news/housing-shortage-bites-as-supply-fails-to-keep-up-20111221-1p55v.html
Thanks to the Government policies that our population has dropped substantially. The 300,000 population estimated growth was largely due to internationally students coming to study in Australia. The policies close the golden doors resulting in not only drop population, but also 18.8 billion worth of export income, second (or third) after mining. This resulted in the State and Federal budget shortfalls, which require businesses and taxpayers to fill the financial void.
Such substantial drop in population leads to similar drop in demand of housing, and all related service industries. While this drop may free up the rental market, it creates a dilemma for investors buying or owning properties to cater for this demand.
I would like to alert readers of the government's National Housing Supply Council (NHSC) report, including developers and investors alike, to digest it with a grain of salt. The report reveals information as at end of June 2010, while the Government policies became effective from 1July 2010. The impact is felt all across the education industries; multi-storey commercial buildings once used as campus have been posted with “For Lease” sign, many TAFE and private college teachers and administration staff have become unemployed, etc.
Part 2 of 3
Commenting on "Housing shortage bites as supply fails to keep up"
http://theage.domain.com.au/real-estate-news/housing-shortage-bites-as-supply-fails-to-keep-up-20111221-1p55v.html
Thanks to the Government policies that our population has dropped substantially. The 300,000 population estimated growth was largely due to internationally students coming to study in Australia. The policies close the golden doors resulting in not only drop population, but also 18.8 billion worth of export income, second (or third) after mining. This resulted in the State and Federal budget shortfalls, which require businesses and taxpayers to fill the financial void.
Such substantial drop in population leads to similar drop in demand of housing, and all related service industries. While this drop may free up the rental market, it creates a dilemma for investors buying or owning properties to cater for this demand.
I would like to alert readers of the government's National Housing Supply Council (NHSC) report, including developers and investors alike, to digest it with a grain of salt. The report reveals information as at end of June 2010, while the Government policies became effective from 1July 2010. The impact is felt all across the education industries; multi-storey commercial buildings once used as campus have been posted with “For Lease” sign, many TAFE and private college teachers and administration staff have become unemployed, etc.
Part 2 of 3
