Welcome Guest [Log In] [Register]


Reply
The Future of Australian Home Ownership: Collaborative Buying, Group Loans, Joint Ventures; CommBank’s Future Home Insights Series
Topic Started: 8 Nov 2016, 09:44 AM (1,206 Views)
Admin
Member Avatar
Administrator

Quote:
 
CommBank reveals eight alternate pathways to home ownership

07 November 2016

Buying a home in Australia may be set for a major makeover in the next 15 years as economic, cultural and demographic trends lead to the emergence of new ways of funding home ownership.

CommBank’s Future Home Insights Series has identified a number of trends that are predicted to significantly influence the Australian housing market from now until 2030 and beyond, including population growth, urban living trends and the rise of multi-unit dwelling construction. The series also found that Australia’s society will encompass a broader collection of social groups, which will influence how Australian property is built and sold.

Dan Huggins, Executive General Manager Home Buying, Commonwealth Bank, said: “We know these trends will significantly impact how Australians live, buy and sell property. At the same time, these trends could change how lenders meet the needs of Australian home buyers in the future.”

CommBank has identified eight existing and emerging pathways to home ownership, including:

Collaborative buying

Co-living arrangements could become more sophisticated with the emergence of collaborative buying/living models. ‘Co-housers’ typically own or rent a smaller-sized dwelling that’s part of a bigger development and contains some communal areas. If residents can share spare rooms, living areas, storage sheds and laundries, then each house can be smaller – and therefore more affordable. Co-housing also reduces the overall physical and environmental footprint per household through more efficient land use.

Group loans

A growing number of people are splitting the costs of buying a home by partnering with a sibling or friend so they can share mortgage repayments with someone they trust. Analysis by CommBank shows that the number of applications with two or more applicants is trending up, from 64 per cent in 2014 to 67 per cent in 2016, while the number of single applicants for mortgages is slowly trending down. This approach coincides with the rise in multi-generational living and provides buying power that comes with two generations contributing to a property.

Communities in common

By 2030, new dwellings will average 119 square metres in size, which is around half the size of the average house in Australia today. To compensate for smaller private living spaces, many developers and architects are designing communities that encourage people to share generous common spaces with like-minded people in their building. Communities in Common also occur when individuals formally band together because they share certain values and lifestyles.

Joint-ventures and syndicates

Pooling funds to gain greater buying power is becoming more common in Australia.

Increasingly, all kinds of people, from siblings to cousins and friends, are coming together to enter the property market as a group. Group development models – where people buy and develop blocks of land collectively – also deliver economies of scale. It can be far cheaper to build several properties at once than one dwelling at a time.

Guarantor Loans

Australians may be familiar with guarantor loans as a way for parents to form joint property ventures with their children. These loans help young people get into the housing market sooner by allowing parents or family members to use their own property as additional security.

Crowd housing

Online crowd housing platforms are connecting homebuyers who share common interests with property developers and architects, giving groups of people more say in the kinds of homes they’d like to see built. For buyers, it means they’re able to express their needs to property developers in real-time; and for developers, it means reducing settlement risk by creating more attractive apartments that specifically meet the needs of buyers.

Staircasing

Moving up the property ladder by buying more shares in an individual property, and hopefully one day attaining full ownership, is known as ‘staircasing’. Instead of buying a house outright, home owners are buying a share in a property and gradually increasing this stake as their savings grow. Whilst this is new to Australia, overseas’ examples include a British government scheme, which allows home owners to pay as much as they can afford – usually between 25 per cent and 75 per cent of the total value of a property – increasing their ownership stake when funds allow.

Guesthousing

Australia is seeing a rise in the variety and frequency of online portals such as Airbnb that connect homeowners looking to monetise their spare bedroom or couch. This works well as it provides additional income for the homeowner to put towards the mortgage and other bills, and it offers the tenant a place to stay whether it be on a short-term or a longer-term arrangement.

Read more: https://www.commbank.com.au/guidance/newsroom/new-pathways-to-home-buying-201611.html
Follow OzPropertyForum on Twitter | Like APF on Facebook | Circle APF on Google+
Profile "REPLY WITH QUOTE" Go to top
 
Ex BP Golly
Member Avatar


Quote:
 
Communities in common

By 2030, new dwellings will average 119 square metres in size, which is around half the size of the average house in Australia today. To compensate for smaller private living spaces, many developers and architects are designing communities that encourage people to share generous common spaces with like-minded people in their building. Communities in Common also occur when individuals formally band together because they share certain values and lifestyles.


Oh God!
Post modern Radburn designed communities, with people once again put cheek to jowl because of their financial problems.

What would Philip Cox/ public housing have to say after their experiments with the model went so wrong?




Villawood, Macquarie Feilds, Minto, Mr Druitt etc were all Radburn design.
Edited by Ex BP Golly, 8 Nov 2016, 11:11 AM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
Profile "REPLY WITH QUOTE" Go to top
 
Khaderbhai
Member Avatar
Wealthy Suburbanite

Quote:
 
The Future of Australian Home Ownership: Collaborative Buying, Group Loans, Joint Ventures
It all boils down to increased density - cramming more and more people into each block of land in order to maintain affordability per individual. It means property prices can keep on rising indefinitely, and in order to afford that property, people must accept less of it. Australian cities are just heading the same way as other major global cities like Hong Kong, Tokyo, Manhattan, London, Singapore etc. where average workers have been unable to buy freestanding homes in the city for a long time.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
Profile "REPLY WITH QUOTE" Go to top
 
Trollie
Member Avatar


Khaderbhai
8 Nov 2016, 11:16 AM
Australian cities are just heading the same way as other major global cities like Hong Kong, Tokyo, Manhattan, London, Singapore etc. where average workers have been unable to buy freestanding homes in the city for a long time.
Say it isn't so :o

Surely if the average wage can't buy an acreage over looking Sydney harbour we are in the middle of a massive BUBBLE *pop*!!!
Profile "REPLY WITH QUOTE" Go to top
 
Blondie girl
Member Avatar


Familiar with syndicate stuff this mode has been around ages really just all about perfect timing and opportunity to blend the people.. can utilise members to their talents from sourcing props to one who can work out the maths/ budgeting financing nitty gritty , one who can negotiate, team play but takes no crap if there is evidence of error. Relies on honesty and great trust as everyone has all lose if crap happens.

Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Profile "REPLY WITH QUOTE" Go to top
 
Foxy
Member Avatar
Zero is coming...

Blondie girl
8 Nov 2016, 10:54 PM
Familiar with syndicate stuff this mode has been around ages really just all about perfect timing and opportunity to blend the people.. can utilise members to their talents from sourcing props to one who can work out the maths/ budgeting financing nitty gritty , one who can negotiate, team play but takes no crap if there is evidence of error. Relies on honesty and great trust as everyone has all lose if crap happens.

Hi Blondie, please give us all a full update on the Perth rental situation as you see it.

Peter

Foxbat told me to warn you, tenant quality has dropped and to be carful you do not get a bait and switch in one of your properties.


https://au.news.yahoo.com/thewest/wa/a/33143155/tenants-from-hell-trash-family-home/#page1


http://mytenantfromhell.com/tenant-voo-doo-fire-kills/

http://mytenantfromhell.com/tenant-kills-super-over-unpaid-rent/

http://wallstreetinsanity.com/the-renters-from-hell-15-landlords-share-their-worst-tenant-stories/

http://blog.nj.com/njv_barry_carter/2011/05/carter_newark_man_acts_as_his.html

http://www.dailymail.co.uk/news/article-3687536/Tenants-hell-caused-50-000-damage-Sunshine-Coast-home-evicted.html

https://www.youtube.com/watch?v=icQc4qX42rs

https://www.youtube.com/watch?v=aBrExPVV_Sc

https://www.youtube.com/watch?v=keIHraqNY-w
Edited by Foxy, 9 Nov 2016, 10:19 AM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
« Previous Topic · Australian Property Forum · Next Topic »
Reply



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy