‘Affordable' Bondi Junction apartment listed for $1100 a week
To be eligible to rent the two-bedroom, two-bathroom apartment in Bondi Junction, a couple cannot be earning more than $121,000 combined. A couple earning the maximum allowed income would be paying 47 per cent of their salary on rent.
The apartment is leased by HomeGround Real Estate Sydney as part of the NSW government's affordable housing scheme.
Following a report in The Guardian on Tuesday, the listing price was reduced to $1040 a week and then $1000.
A HomeGround spokeswoman said the price reduction was because of winter.
'Initially, we advertised the property with a market rent set at $1100 per week. However, as market conditions fluctuate weekly, especially in the Bondi area, we have adjusted the asking price to $1000 per week as we transition into the winter market.'
Renters advocate Jordan van den Lamb said anyone who could pay $1000 a week rent – and still earn less than the income threshold – could not afford food, bills and medicine as well.
'It's nuts,' he told NewsWire.
'The guidelines make affordable housing by definition unaffordable … pretty Orwellian if you think about it.'
'The idea that we would spend billions of taxpayer money to subsidise private landlords to offer something that is tied to an already unaffordable market as the solution to a housing crisis, it's just not going to work and this is what all the experts have been saying.'
Mr van den Lamb has risen to prominence online speaking about the state of housing in Australia and unsuccessfully contested a Senate seat for the Victorian Socialists at the federal election.
He said the non-profit HomeGround agency had a relatively good reputation.
'These are the good ones … I've got nothing wrong with them,' he said of HomeGround.
'It's the private landlord that's being subsidised by the government and incentivised to do this. That is the problem.'
In NSW, 'affordable' properties must be rented out at 20 per cent below the market rent, but the state government rules say 'flexibility in pricing may be applied to moderate income households'.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ABC News
22 minutes ago
- ABC News
Mixed reviews after Tasmanian crossbencher meetings with Liberals, Labor
Members of Tasmania's new crossbench have criticised Labor's reluctance to engage with the Greens — but described their talks with the party as "interesting" and "productive". Labor Leader Dean Winter met with crossbenchers David O'Byrne, Kristie Johnston, George Razay, Peter George and Craig Garland at their parliamentary offices on Thursday. It is likely to be the first of many talks with non-Green members of the crossbench as the party, which holds just 10 out of 35 seats, seeks to gain enough support to govern. Fresh from his meeting, new MP George Razay was enthusiastic, but part of that was simply about meeting his fellow crossbenchers for the first time. "I feel really positive that everybody wants change and we can't carry on the same as in the past," Professor Razay said. But he added he won't be making his mind up anytime soon about who he will support. "I'm still talking to so many people and ... I have to get some information from all sort of political parties and as I said to them, I don't make my decision until the day I vote. Braddon Independent Craig Garland said the meeting was "productive" and "collaborative". "I made the statement that I thought Labor was the best ones to take us forward and lead this state," he said. While they did not go into detail on policy, Independent MP Peter George said they discussed things like how to make a Labor minority government work and budget repair. "What's important, from our point of view, is that we've talked about methods of ensuring that we get a good four-year stable government," he said. But the pair, standing side by side after the press conference, were adamant for minority government to work and that both major parties need to learn to compromise. "If one party or another expects to take the treasury benches, they're gonna have to understand there is compromise, there is room to move, they have to move," Mr George said. Mr Garland said that for all the talk about collaboration, the major parties then turn around and say things like "we're not budging on salmon [farming]" and "we're not budging on native forest logging". "The true collaboration and compromise has been with the crossbenchers and the Greens," Mr Garland said. "We've been working together trying to nut out a solution to make this easy for anybody that's willing to put their hand up in the government. "We're the ones that are doing the collaboration and compromising. "The major parties are still stuck in this majority headspace and they are going to have to come to terms that it's a different world, there's different expectations of the people of this state to make this work." While neither major party has been willing to engage the Greens, other crossbenchers are talking to them and some are frustrated that the party of five seats is being left out. "Until the Labor Party is actually prepared to sit down and talk with the other crossbenchers, which is the Greens, the idea of a confidence, no confidence motion, is really moot," Mr George said. Mr Garland also criticised the decision to lock the Greens out, saying for too long they had been "blamed for everything" and "crucified". Independent MP Kristie Johnston's assessment of the meeting was similar. "The meeting today of some crossbench members and Labor was interesting, but indicated to me that there is a lot more work to be done," she said in a statement to the ABC. To take power, Labor will need to convince crossbenchers to back a no-confidence motion in the Liberals and confidence in a Labor government. They will need eight extra votes to do that, which means getting the Greens on board. The Liberals are also courting the crossbench, determined to stay in power. Premier Jeremy Rockliff has even chosen not to take on any portfolios, so he can dedicate more time to dealing with the crossbench. So far, Mr Garland is the only crossbencher to say he won't work with the Liberals — however he said that does not mean his support for Labor is 100 per cent guaranteed. And it seems he has not completely written off the Liberals. "I'll go with whoever I think is best for this state," he said. "The Liberal Party may stand up. They may come to the table and say 'we got this wrong, we're willing to compromise. We're willing to sit down and make these concessions', and if that's the case, I'll support them. "If Labor wanna do it, I'll support them. So, whoever is prepared to make that move and do what's needed to be done."
News.com.au
44 minutes ago
- News.com.au
See inside the new apartments looking over the future Olympic Games
A luxury development with more than a hundred residences is under construction opposite the site of the future Olympic Games, with only a limited supply of units remaining. Oria, an art-deco inspired project, is being made on Gregory Tce in Spring Hill: developed by Keylin, designed by MAS Architecture Studio and built by CoStruct. The 15-storey building features two, three and four-bedroom options, with prices starting at around $1.45 million for the remaining two-bedroom units. Three-bedroom apartments begin at $2.335 million, while a few higher-end offerings sit above the $4 million range. A variety of unique floor plans and styles are available across 132 units. Two-bedroom homes can range between 91 to 110 sqm, with three-bedroom homes reaching 130 to 246 sqm. Keylin Managing Director Louis Cheung said Spring Hill's high demand meant the development needed to cater to a wide range of desires. 'The struggle for many that want to live in the area is a lack of inventory and supply that meets their needs,' he said. 'With Oria, we are addressing these gaps and setting a benchmark for luxury in the area.' Sales lead and Ashwin Property director, Tony Ashwin, said current sales have been from a wide range of demographics. 'Over the last 8 weeks, we've had 1350 inquiries, so demand's been really strong,' he said. 'We've got some younger professional couples, a significant amount of downsizers, and also a significant amount of families.' 'We had a number of investors who came in early, who were aware of all the infrastructure for the Olympics, but ended up making Oria their home.' Each of these residents will be sharing a wide variety of communal features in the development, including a gym, cinema, pool, sauna and private dining areas. Meanwhile, open spaces include a pickleball court and off-leash dog area, accounting for downsizers who may be moving with pets. A display area is available where interested parties can inspect the building's future features, including an interactive 3D model of the rooms, allowing for an in-person digital walk-through. 'They'll be able to experience apartment views, whether it's the city skyline or overlooking Victoria Park, because the visualisations are based on real imagery taken at different storey heights,' Mr Cheung said. With construction already at level five, residents are expected to move in early 2027, five years ahead of the Olympics.
News.com.au
an hour ago
- News.com.au
Shock as crumbling beach shack named 2025 House of the Year
In a plot twist no one saw coming, a crumbling childhood holiday shack has been named the 2025 Australian House of the Year after a stunning transformation. Blok Three Sisters by Blok Modular with Vokes and Peters has taken out the top prize in the 2025 Houses Awards for its innovative approach to a unique problem – creating three jawdropping homes for a trio of sisters where they spent their childhood summers. The vision behind the design and its implementation saw it heralded as the future of Australian housing – representing the type of 'stealth density' required in a time of housing shortage, turning one crumbling house into multiple designer homes. At first glance it does still look like one house, but it is three full homes side-by-side on North Stradbroke – each with their own courtyards, breezeways and laid-back vibe The homes weren't even built on-site, having been prefabricated in Brisbane and shipped to the fragile island environment to save time, money and environmental impact. The Houses Awards jury was blown away, with their citation positively gushing over the property. 'A single beach house in a state of disrepair has been replaced with three new residences, permitting the next generations of the same family to make their own memories here,' the citation said. 'Blok Three Sisters is an inventive design that finds a compelling balance between pragmatism and ambition. 'The design looks to the past to recall what makes a great holiday house, while broadening the possibilities of prefabrication as an alternative construction method that is better equipped for our future.' Shock as lenders slash rates to lowest level in 2 years It said the units were arranged side-by-side, with a simple flip in the plan of one unit achieving subtle variation in the facade, 'gently disguising its modularity'. 'Australia needs more exemplars of stealth density that demonstrate how our freestanding residences might gradually evolve to accommodate more dwellings, without sacrifice to individual or neighbourhood amenity,' the jury citation said. 'The jury felt this terrace-like, modular design was not only a successful response to this laid-back coastal setting, but also a worthy and replicable model for co-living that could be readily adapted to sites in urban and suburban settings.'
