The changing institutions of private rental housing: an international review

Abstract

Related reports and documents AHURIAHURI is a national independent research network with an expert not-for-profit research management company, AHURI Limited, at its centre.AHURI's mission is to deliver high quality research that influences policy development and practice change to improve the housing and urban environments of all Australians.Using high quality, independent evidence and through active, managed engagement, AHURI works to inform the policies and practices of governments and the housing and urban development industries, and stimulate debate in the broader Australian community.AHURI undertakes evidence-based policy development on a range of priority policy topics that are of interest to our audience groups, including housing and labour markets, urban growth and renewal, planning and infrastructure development, housing supply and affordability, homelessness, economic productivity, and social cohesion and wellbeing.

Situating financialisation in the geographies of neoliberal housing restructuring: reflections from Ireland and Australia

“…This regime, underlain by neoliberal logics, exempted the owneroccupied 'family home' from capital gains tax (since 1985), state land tax and the agedpension assets test; enabled 'negative gearing' 3 (1986); and awarded 50% capital gains tax discount on investment properties (1999). As in Ireland, these pro-market measures fostered 'mum and dad' investment in housing and produced a rental sector dominated by smallscale landlords (Martin et al, 2018), at least until the GFC. Rental investors doubled from 15% to 29% of the market 1996-2007 (Burke and Hulse, 2010) and loans to investors increased from c.25% to c40% between the mid 1990s and 2011, including via the rapid expansion of interest-only mortgages (Yates, 2014).…”

Underinsurance as adaptation: Household agency in places of marketisation and financialisation

“…Over the past decade, in Australia, the rental sector has grown by 38%, and 2.1 million households are now renting (Hulse et al 2018). Households are also now renting for longer (Martin et al, 2018). although leases are commonly only 6 or 12 months in duration (Bate, 2018).…”

“…2018). Households are also now renting for longer (Martin et al., 2018). although leases are commonly only 6 or 12 months in duration (Bate, 2018).…”

“…The factors driving the growth in the rental sector in Australia, and in countries such as the UK and the USA (Bate, 2018), are complex and spatially variegated (Martin et al., 2018). The financialisation of housing – investment in housing assets as privatised welfare and a form of financial security (Aalbers, 2017) – is one significant contributor, with ‘middle-Australia’ now possessing an asset base dominated by housing, that is, investment properties in the rental market (Bryan and Rafferty, 2018; Gurran and Phibbs, 2016).…”

“…Unlike many other Western countries where the largest cohort of renters tend to be low-income earners, Australian renters are evenly spread across all income categories (Martin et al., 2018). In addition, Australians identified as not accessing and possessing financial services and products such as insurance also include people distributed fairly evenly across educational attainment and income categories, as well as a significant number of people in full-time employment and a high number of young Australians (mostly not students; Centre for Social Impact, 2014).…”