As we see out the rest of 2017,the year of great change for not only The POANSW but also the world at large it’s a great time to reflect on where we might be heading in 2018.
Ok, so can I call it? It’s the end of the Sydney property boom, right? All the indicators are there from drop in new loan lending right through to property auction clearance rates falling under 65% (75-80% this time last year) Government has achieved what they set out to achieve in late 2016 and that’s to dampen investor activity and slow property growth down after 5 consecutive years of double digit growth. The property boom may have gone on too long and cheap money has fuelled it. Those who own their own property in the inner rings have done well. All well and good but now what is left is a socia economic problem of massive proportions between landlords and the want to be property owners (tenants) that Government cannot fix. Hence the new premiers first public address and undertaking was to “fix the housing crises”
2017 saw POANSW position them at a new venue (The Balmain Bowling Club) in the Inner West. In hindsight this was a good move for us and positioned our causes in the Sydney heartland of a property development and infrastructure mecca that’s the largest of its kind. The Westconnex project being the centre of mass outcry from local property owners who were forced out of their homes and Sydney traffic at breaking point. This has affected not only property owners but also small business operators who have also been affected by loss of trade. I reached out to the very first and newly elected Mayor of the Inner West super council Darcy Byrne to do a talk to at our end of year function about what his plans are in addressing small business and property owners concerns.
Have you visited the Sydney CBD lately? What a mess on George Street. Hundreds of small business vendors affected and government not listening to them rather steam rolling ahead with their plans.
One Sydney of City councillor with a vested interest in small business has had enough and has formed a political party called Small Business Matters. POANSW supports this move and has joined the cause as there are property tax policies being lobbied that aligns with our own.
The Residential Tenancy Act review commenced in 2016 and in early 2017 saw the media and all major political parties turn their focus on tenant’s rights. More and more Australians will be renting in the future. Keeping pets, long-term leases, rental cap’s, domestic violence terminations, new break lease regimes and doing away with the no grounds notice was in the spotlight. The great socio-economic divide of Sydney’s landlords and tenants has now become a political football called “housing affordability” with the main focus of protecting the tenants well being. After all NSW the landlords have doubled their property values in the last 5 years so the government ideology moving into 2018 and one of our main challenges next year and beyond is to keep some equilibrium in some of the tenant focused policy which will be rolled out for stakeholder discussion early next year. State elections are coming up soon and renters are a key driver of votes for the Liberals, Labor and The Greens.
Even the big end of town and one of the largest corporate landlords in Australia Merriton’s Harry Triguboff came out swinging at the oppositions almost rent control like policy rolled out last month stating “I will stop constructing and sell all my properties” But dear old Harry was met head on by the media, renters and tenant groups who had no pity for Harry.
2018 will also see the mandatory review of The Boarding House Act 2012.Our boarding house operators will be called up for some preliminary discussion. At the centre of this review will be how local councils and state government will work together for the shutdown of illegal operators. Our boarding house chapter chairperson Peter Dormia prepared a short article in this month The Voice E-newsletter and invites you for your feedback.
I would like to personally thank those who have supported The POANSW. Our members, sponsors and property stakeholder alliances have been of great value in the past 12 months. Collaboration is going to be the key in 2018 too meets our objectives.
As always our door is open for you to talk to us as the premier association in NSW for the private landlords. A very merry XMas, a safe festive season and a happy new year to you all.