Australian Prime Minister Anthony Albanese is facing criticism after he purchased an A$4.3 million property amid a national housing crisis.

Albanese and his fiancée Jodie Haydon bought a four-bedroom home in&nbsp;New South Wales Central Coast that has sparked a political debate, with the opposition calling him “tone deaf” and some within his party revealing it to local media, anonymously.

In response to the backlash, he said he "knows what it is like to struggle". He added that he bought the luxury property to be close to his fiancée’s family who lives in that area.&nbsp;

According to the property records, the&nbsp;Copacabana property was sold for A$4.3 million ($2.9 million) in September this year. However, the purchase is yet to be determined.

The information about his purchase was revealed during a press conference about housing. Albanese said he knows he is “better off” than many people due to his income, but he could still empathise with people who face financial struggles.

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"My mum lived in the one public housing [home] that she was born in for all of her 65 years," he told reporters.

“I know what it is like, which is why I want to help all Australians into a home.”

Even though Albanese's Labor Party raised an A$10b investment fund for social and affordable housing, their other housing initiatives were thwarted as they lacked support from the Australian Greens party and some independents, who&nbsp;want the government to introduce more ambitious proposals.

According to the 2024 Demographia International Housing Affordability Survey, Australian cities are among the worst for housing affordability in the world, with Sydney being the second least affordable on the list.

<h2>A ‘tone-deaf’&nbsp;decision?</h2>

While some spoke in his support, many have criticised Albanese’s decisions.

“I can’t think of a greater act of self-sabotage in my life,” one Labor MP told the Sydney Morning Herald anonymously "so they could speak freely".

"If you’re a Labor MP up against a Green at the next election, good luck," they added.

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Max Chandler-Mather, the Greens housing spokesman, said Albanese’s purchase has highlighted the need for lucrative tax reforms for property investors and better protection for renters.

"Labor and the Liberals have created a housing system where a property investor can buy an A$4.3m beachfront home, while millions can't even find an affordable rental, let alone buy a house of their own," Chandler-Mather wrote on X.

"Everybody has a right to a personal life" Liberal Senator Jane Hume told Channel 7's Sunrise programme. "I have a problem with the timing, and this is tone-deaf during a housing crisis."

Fellow Liberal and opposition leader Peter Dutton stated that many Australians struggle with mortgages, however, he refused to criticise Albanese.

The parliamentary disclosure shows about 95 per cent of federal politicians own at least one residential property and a third has three or more properties. However, only two-thirds of Australian families own a home.

(With inputs from agencies)

Australian Prime Minister Anthony Albanese is facing criticism after he purchased an A$4.3 million property amid a national housing crisis. Albanese and his fiancée Jodie Haydon bought a four-bedroom home in New South Wales Central Coast that has sparked a political debate, with the opposition calling him “tone deaf” and some within his party revealing it to local media, anonymously.

Australian Prime Minister Anthony Albanese is facing criticism after he purchased an A$4.3 million property amid a national housing crisis. Albanese and his fiancée Jodie Haydon bought a four-bedroom home in New South Wales Central Coast that has sparked a political debate, with the opposition calling him “tone deaf” and some within his party revealing it to local media, anonymously. In response to the backlash, he said he "knows what it is like to struggle". He added that he bought the luxury property to be close to his fiancée’s family who lives in that area. According to the property records, the Copacabana property was sold for A$4.3 million ($2.9 million) in September this year. However, the purchase is yet to be determined. The information about his purchase was revealed during a press conference about housing. Albanese said he knows he is “better off” than many people due to his income, but he could still empathise with people who face financial struggles. Also read | Australia introduces a new visa regime for young Indians "My mum lived in the one public housing [home] that she was born in for all of her 65 years," he told reporters. “I know what it is like, which is why I want to help all Australians into a home.” Even though Albanese's Labor Party raised an A$10b investment fund for social and affordable housing, their other housing initiatives were thwarted as they lacked support from the Australian Greens party and some independents, who want the government to introduce more ambitious proposals. According to the 2024 Demographia International Housing Affordability Survey, Australian cities are among the worst for housing affordability in the world, with Sydney being the second least affordable on the list. A ‘tone-deaf’ decision? While some spoke in his support, many have criticised Albanese’s decisions. “I can’t think of a greater act of self-sabotage in my life,” one Labor MP told the Sydney Morning Herald anonymously "so they could speak freely". "If you’re a Labor MP up against a Green at the next election, good luck," they added. Also read | 'Won't stand in the way': King Charles on Australia becoming a republic nation Max Chandler-Mather, the Greens housing spokesman, said Albanese’s purchase has highlighted the need for lucrative tax reforms for property investors and better protection for renters. "Labor and the Liberals have created a housing system where a property investor can buy an A$4.3m beachfront home, while millions can't even find an affordable rental, let alone buy a house of their own," Chandler-Mather wrote on X. "Everybody has a right to a personal life" Liberal Senator Jane Hume told Channel 7's Sunrise programme. "I have a problem with the timing, and this is tone-deaf during a housing crisis." Fellow Liberal and opposition leader Peter Dutton stated that many Australians struggle with mortgages, however, he refused to criticise Albanese. The parliamentary disclosure shows about 95 per cent of federal politicians own at least one residential property and a third has three or more properties. However, only two-thirds of Australian families own a home. (With inputs from agencies)

Australian PM Anthony Albanese faces backlash after buying luxurious A$4.3 m home

Amidst the rental affordability crisis in Australia, sleeping ‘space shuttle’ pods that have just single beds are being offered for rent for a record $900 a month in Melbourne.

The advertisement was put up by the Abbotsford house as the rental property in Melbourne and other places in Australia are seeing a record rise.

SQM Research has said that the cost of renting a house has soared by up to 21.2 per cent in Australia, with further rises expected as the national&nbsp;rental crisis&nbsp;deepens.

In the advertisement, the Abbotsford house, which is advertised privately, stated that it offers traditional rooms for $400 a week or $1500 a month, or the single pod capsules for up to $250 a week or $900 a month, reports The Guardian Australia.

“The boarding house and the capsules are fully licensed,” the advertisement, posted to Facebook reads.

“Each capsule pod fits a single bed (can sleep one person only), equipped with own mirror, ventilating fan, USB ports, digital control panels, adjustable colour reading lights, safe locker, clothes hanger &amp; curtain door for privacy.

“They look like space shuttles.”

Landlord Frank Chan told the newspaper that rising inflation and a reduction in the number of short-term travellers had contributed to rising costs.

“I do not charge bond, no electricity charge, provide full furniture, full-time housekeeper, tenants have full flexibility when they want to leave, and my price is cheaper than 95% of comparable listings in booking.com, hotels.com and Airbnb the like,” he told Guardian Australia.

“I know there are many people who don’t understand much about the rental market and shout that my price is too high … but they really haven’t looked at how short-term accommodation functions.”

Chan said pods could be a “solution” to the tight rental market.

Tim Lawless, a research director at CoreLogic, told the newspaper that rents have risen 9.2 per cent over the past 12 months and 9.5 per cent for units.

“It’s the highest annual growth rate for rents on record,” he said. “The last time we saw it on this level was in 2017, but that was with a record level of migration. This time around, this level of rental growth is happening amidst closed borders.”

(With inputs from agencies)

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Amidst the rental affordability crisis in Australia, sleeping ‘space shuttle’ pods that have just single beds are being offered for rent for a record $900 a month in Melbourne.

Amidst the rental affordability crisis in Australia, sleeping ‘space shuttle’ pods that have just single beds are being offered for rent for a record $900 a month in Melbourne. The advertisement was put up by the Abbotsford house as the rental property in Melbourne and other places in Australia are seeing a record rise. SQM Research has said that the cost of renting a house has soared by up to 21.2 per cent in Australia, with further rises expected as the national rental crisis deepens. In the advertisement, the Abbotsford house, which is advertised privately, stated that it offers traditional rooms for $400 a week or $1500 a month, or the single pod capsules for up to $250 a week or $900 a month, reports The Guardian Australia. “The boarding house and the capsules are fully licensed,” the advertisement, posted to Facebook reads. “Each capsule pod fits a single bed (can sleep one person only), equipped with own mirror, ventilating fan, USB ports, digital control panels, adjustable colour reading lights, safe locker, clothes hanger & curtain door for privacy. “They look like space shuttles.” Landlord Frank Chan told the newspaper that rising inflation and a reduction in the number of short-term travellers had contributed to rising costs. “I do not charge bond, no electricity charge, provide full furniture, full-time housekeeper, tenants have full flexibility when they want to leave, and my price is cheaper than 95% of comparable listings in booking.com, hotels.com and Airbnb the like,” he told Guardian Australia. “I know there are many people who don’t understand much about the rental market and shout that my price is too high … but they really haven’t looked at how short-term accommodation functions.” Chan said pods could be a “solution” to the tight rental market. Tim Lawless, a research director at CoreLogic, told the newspaper that rents have risen 9.2 per cent over the past 12 months and 9.5 per cent for units. “It’s the highest annual growth rate for rents on record,” he said. “The last time we saw it on this level was in 2017, but that was with a record level of migration. This time around, this level of rental growth is happening amidst closed borders.” (With inputs from agencies) WATCH WION LIVE HERE

Amidst Australia’s rental crisis, sleeping pods with single bed being rented for $900 a month

Just months after a ban on "Monoply board-style" homes, Westminster city council has granted Chinese billionaire Cheung Chung-kiu permission to construct an eight-storey, 62,000 square feet private palace.&nbsp;

This private palace would overlook Hyde Park in central London and is expected to be worth up to £500 million when completed.

Chung-kiu's plan is to demolish and rebuild 2-8A Rutland Gate, in Knightsbridge, in order to build his new mansion.

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Despite its earlier order, the council was unable to stop the project from going ahead. As this used to be a single-family dwelling, the planning regulations didn't prohibit its replacement.&nbsp;

London's Westminster council announced plans to ban the construction of supersize properties for overseas billionaires as part of efforts to free up more space for affordable housing in 2018. However, redevelopments of existing houses are not subject to the ban, which came into force earlier this year.

The council also confirmed that Cheung would not be required to contribute to affordable housing in the borough, as is usually the case for large-scale private development projects.

Westminster council's spokesperson explained that this year the council introduced a policy that forbids projects larger than 200 sq metres from being constructed. However, the redevelopment of existing single-dwelling homes is not covered by this policy.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/pakistan-reporter-amin-hafeez-interviews-a-buffalo-on-eid-ul-zuha-and-even-gets-a-response-399668">Pakistan reporter Amin Hafeez interviews a buffalo on Eid-ul-Zuha and even gets a response</a>

Westminster has built over 725 affordable homes since 2017 as part of its commitment to providing the right type of housing for people.

Cheung's agent on his behalf described the building as "heavily dilapidated" in his proposed building application and expressed his desire to undertake appropriate repair, restoration, and alteration work to restore the building to a useful family home in London.

Prior to the sale, the property had been a 45-bedroom residence owned by Saudi Arabian Crown Prince Sultan bin Abdul-Aziz, who died in 2011.&nbsp;

<div>The house is located just south of Kensington Gardens, with 68 of its 116 windows overlooking the park. Alberto Pinto, a French designer, designed the interiors.
<div>
Prior to this development, the property had been granted planning permission to be converted to 13 flats.
</div>
</div>

Just months after a ban on "Monoply board-style" homes, Westminster city council has granted Chinese billionaire Cheung Chung-kiu permission to construct an eight-storey, 62,000 square feet private palace.

Just months after a ban on "Monoply board-style" homes, Westminster city council has granted Chinese billionaire Cheung Chung-kiu permission to construct an eight-storey, 62,000 square feet private palace. This private palace would overlook Hyde Park in central London and is expected to be worth up to £500 million when completed. Chung-kiu's plan is to demolish and rebuild 2-8A Rutland Gate, in Knightsbridge, in order to build his new mansion. Also read | NASA rover preparing to take first Mars rock samples Despite its earlier order, the council was unable to stop the project from going ahead. As this used to be a single-family dwelling, the planning regulations didn't prohibit its replacement. London's Westminster council announced plans to ban the construction of supersize properties for overseas billionaires as part of efforts to free up more space for affordable housing in 2018. However, redevelopments of existing houses are not subject to the ban, which came into force earlier this year. The council also confirmed that Cheung would not be required to contribute to affordable housing in the borough, as is usually the case for large-scale private development projects. Westminster council's spokesperson explained that this year the council introduced a policy that forbids projects larger than 200 sq metres from being constructed. However, the redevelopment of existing single-dwelling homes is not covered by this policy. Also read | Pakistan reporter Amin Hafeez interviews a buffalo on Eid-ul-Zuha and even gets a response Westminster has built over 725 affordable homes since 2017 as part of its commitment to providing the right type of housing for people. Cheung's agent on his behalf described the building as "heavily dilapidated" in his proposed building application and expressed his desire to undertake appropriate repair, restoration, and alteration work to restore the building to a useful family home in London. Prior to the sale, the property had been a 45-bedroom residence owned by Saudi Arabian Crown Prince Sultan bin Abdul-Aziz, who died in 2011. The house is located just south of Kensington Gardens, with 68 of its 116 windows overlooking the park. Alberto Pinto, a French designer, designed the interiors. Prior to this development, the property had been granted planning permission to be converted to 13 flats.

Chinese tycoon receives approval for massive central London palace

In a big relief to home buyers, the GST Council Sunday slashed tax rates on under-construction housing properties to 5 per cent without the input tax credit, from the existing 12 per cent, Finance Minister Arun Jaitley said.

The Council also cut GST rates on affordable housing to 1 per cent from the current 8 per cent and expanded the scope of affordable housing to those costing up to Rs 45 lakh and measuring 60 sq metre in metros and 90 sq metre in non-metro cities.

The new tax rates will come into effect from April 1, 2019.

Currently, the GST is levied at 12 per cent on payments made for under-construction properties or ready-to-move-in flats where completion certificate has not been issued at the time of sale.

However, builders will not be able to claim an input tax credit (ITC) under the new GST rates.

"This (GST reduction) decision will certainly give a boost to the construction sector," Jaitley told reporters.

However, Goods and Services Tax (GST) is not levied on real estate properties for which completion certificate has been issued at the time of sale.

With regard to lotteries, the GST Council, however, deferred its decision with Jaitley saying that the Group of Ministers (GoM) will meet again to discuss the proposal.

Currently, state-run lotteries attract 12 per cent GST, while state-authorised ones attract 28 per cent.

In a big relief to home buyers, the GST Council Sunday slashed tax rates on under-construction housing properties to 5 per cent without the input tax credit, from the existing 12 per cent, Finance Minister Arun Jaitley said.

In a big relief to home buyers, the GST Council Sunday slashed tax rates on under-construction housing properties to 5 per cent without the input tax credit, from the existing 12 per cent, Finance Minister Arun Jaitley said. The Council also cut GST rates on affordable housing to 1 per cent from the current 8 per cent and expanded the scope of affordable housing to those costing up to Rs 45 lakh and measuring 60 sq metre in metros and 90 sq metre in non-metro cities. The new tax rates will come into effect from April 1, 2019. Currently, the GST is levied at 12 per cent on payments made for under-construction properties or ready-to-move-in flats where completion certificate has not been issued at the time of sale. However, builders will not be able to claim an input tax credit (ITC) under the new GST rates. "This (GST reduction) decision will certainly give a boost to the construction sector," Jaitley told reporters. However, Goods and Services Tax (GST) is not levied on real estate properties for which completion certificate has been issued at the time of sale. With regard to lotteries, the GST Council, however, deferred its decision with Jaitley saying that the Group of Ministers (GoM) will meet again to discuss the proposal. Currently, state-run lotteries attract 12 per cent GST, while state-authorised ones attract 28 per cent.

Relief for homebuyers: GST on under-construction flats slashed to 5%; affordable housing to attract 1%

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