Churches are planning to make city properties and land available for inexpensive housing to fight Victoria's home-affordability crisis.
Church-run charities say prime land worth hundreds of millions of dollars has been sitting untouched for more than 100 years.
And the charities want the land to be used to help the state's most needy and build affordable rental homes, Fairfax newspapers say.
Uniting and Catholic church charities and the Salvation Army back the plan, which comes as Australia's Reserve Bank is expected to announce another interest rate rise.
Fujitsu Consulting analyst Martin North said JP Morgan/Fujitsu research showed up to 300,000 Australians were at risk of losing their homes this year.
About 750,000 households will struggle to pay food and bills.
Council two weeks ago unanimously approved a 35 per cent discount on infrastructure charges, which took the median figure for new house lots down to about $22,000 from $34,000.
The changes, which were formulated after consultation with industry, took the maximum price for house lots down to about $61,000 from $94,000.
And the minimum infrastructure charge fell to $18,400 from $28,200.
Industry groups have applauded a proposal to put a lid on council infrastructure charges that could wipe up to $40,000 off the cost of a new home in Brisbane.
Labor lord mayoral candidate Greg Rowell today unveiled a $39 million plan to cap infrastructure charges on all new homes at $20,000 per house lot and $14,000 per unit if he was elected on March 15.
The council would also place a moratorium on future price rises while an independent review into the infrastructure charges system was conducted.
Both the Urban Development Institute of Australia (UDIA) and the Property Council welcomed the initiative, which would also try to clear the back log of development assessment applications and open up further land supply.
Greg Rowell's 5-point plan
1. Cap infrastructure charges and undertake review of charging system.
2. Speed up development assessment process by employing more staff and fast-tracking "simple" applications.
3. Increase housing supply through transit oriented development precincts and urban renewal.
4. Increase land supply through annual land audit and work with Queensland and federal governments to masterplan surplus land holdings.
5. Support social housing by waiving development applications and lodgement fees; make Brisbane Housing Company exempt from infrastructure charges.
RBA urged to put rates rise on hold
Posted 52 minutes ago
Queensland's housing industry is hoping the Reserve Bank board will go against market sentiment and keep interest rates on hold.
The Reserve Bank is widely expected to raise the official cash rate by 25 basis points (0.25 per cent) following Tuesday's monthly board meeting.
Housing Industry Association spokesman Warwick Temby says housing affordability in Queensland is already at crisis levels.
"There's certainly been lots of people predicting that interest rates are going to go up again next week, but there's so much volatility in the market out there," he said.
"I think the best thing the Reserve Bank could do is to sit on its hands for a while and see how that market settles down.
"There's a real risk out there that the rug has been pulled out from underneath people's confidence to invest and what the Reserve is trying to achieve might already be happening."
From the article ....
So 7.5m Households in Australia .....
10pc in severe mortgage stress.
4pc of Mortgaged properties tipped to be in some level of default/repossession this year.
Mortgage rates will go up .5pc maybe 1pc throughout this year.
Sorry housing Industry but RBA's mandate is to protect my savings against the ravages of Inflation, not to protect over inflated asset prices.
It's even worse if you consider that 35% of the households in Australia have a mortgage, so of the 7.5million households, you have 2.6million mortgage holders.
That means as many as 28% of households with a mortgage will have mortgage stress . . 11% will default.
And what happens if rents rise more than wages/inflation. That's probably just as many renters under stress.
And a lot of disposable income being stripped from the economy. Dare I say, if the predictions are true, we are stuffed. Sounds like recession time.
I Don't really think interest rate rises are an effective way to control inflation.
How is raising the interst rate going to keep inflation down.
I actually see raising the interest rates today as making the housing "rental afforabilty crisis" worse.
In cities where there is already massive shortage of rental properties, raising interest rates will just mean alot of development projects and subdivsions won't get done this year meaning less supply next year to qwell the increased demand. so interest rate rises today will increasre rents tomorrow, and thew cycle continues
Wonder what happens witha .5% rate rise ... ouch
They are saying we could see upto a 1pc increase over the coming year.
350k mortgage, 1pc = 3500 or $70 a week.
Ok, lets get this straight, the Reserve Bank creates the inflation by creating more money out of "Thin Air"I Don't really think interest rate rises are an effective way to control inflation.
How is raising the interst rate going to keep inflation down.
Yes and thats something people dont shed much thought for, all this money going into Housing simply strips it out of other areas of the economy.
Ok, lets get this straight, the Reserve Bank creates the inflation by creating more money out of "Thin Air"
They then try to control the Inflation they have created with Interest Rates.
Does anyone else see a problem here.
Why have we got an organisation that causes Inflation, attempting to control the Inflation it creates.
Hello, the sooner we F^ck off this bullsh1t system off and go back to Sound Money the better.
The same way it worked in the past.Um how is sound money going to work these days?
Perhaps we should start exchanging seashells for important things like cans of beer and bottles of Jim beam. Thankyou.
Reality is always much clearer when totally pissed.
Ok, lets get this straight, the Reserve Bank creates the inflation by creating more money out of "Thin Air"
They then try to control the Inflation they have created with Interest Rates.
Does anyone else see a problem here.
Why have we got an organisation that causes Inflation, attempting to control the Inflation it creates.
Hello, the sooner we F^ck off this bullsh1t system off and go back to Sound Money the better.
The same way it worked in the past.
I don't have a mortgage or any debt.
I want my money backed by something more substantial than "Thin Air". If the banks can make money out of "Thin Air", why can't I pay off a loan by giving them a bucket of air?
Developers arnt going to moth ball their Businesses because of rising Interest rates, just like you arnt going to quit your job because of rising interest rates.
Thats the whole point. A limited amount of money stops Inflation which is really another form Taxation.Of course, you would prefer your debt backed by a shiny rock with limited utility that comes out of the ground.
If you actually believe in the debasement of our currency - you should borrow all you can carry.
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