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World's most expensive house up for sale

A French chateau, once owned by a member of the Rothschild family and, later on, the King of Morocco, has gone up for sale with a £363 million (AU$699) price tag. Chateau d’Armainvilliers located at Seine-et-Marne, 48km east of the Eiffel Tower, is the world's most expensive home. Built upon the foundations of a 12th century castle, the sprawling mansion boasts 1,000 hectares of land, 100 rooms across 2,500 square metres of living space, a private lake, and plenty of sequoia trees - the largest trees in the world. Ignace Meuwissen, a self-acclaimed "real estate advisor to the global elite" described the property as a display of "opulence and grandeur". "It is the most expensive castle in France and perhaps in the world. The price of €425million is justified by the property itself but also by the 1,000 hectare land which offers numerous possibilities," he told Paris Match magazine. "An investor could build thousands of apartments there if he wanted." The chateau was first bought by the Rothschild banking empird in the late 19th century, before King Hassan II of Morocco bought it in the 1980s. He then made the chateau more fit for a king, adding a hammam spa, a beauty and hairdressing salon, and a fully-equipped medical and dental facility. The Moroccan King also added a basement level, which has a network of tunnels, kitchens, cold rooms, storage spaces and staff quarters. The lucky owner will also find Moroccan mosaics and wall tiles decorating the home, and for any avid equestrians, the home also has a stable big enough for 50 horses. However, some luxury property agents have expressed their doubts on whether the property would sell with its nine-figure sum, with one saying it was an "unrealistic" price tag. "It doesn’t make sense, it’s absurd Properties of this type could sell for 20-25 million, or even 30 million if we really fall in love with them. I’m not even sure that Vaux-le-Vicomte (a Baroque French château), which has no marketing plans, would sell at this price," one agent told French real estate publication Le Figaro Immobilier. Others were unsure whether the changes made by the King in the 1980s would suit modern tastes. Images: Whisper Auctions

Real Estate

If you squat in a vacant property, does the law give you the house for free? Well, sort of

<a href="https://theconversation.com/profiles/cathy-sherry-466">Cathy Sherry</a>, <a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a> Nothing excites law students like the idea of a free house. Or alternatively, enrages them. It depends on their politics. As a result, academics condemned to teaching property law find it hard to resist the “<a href="https://classic.austlii.edu.au/au/journals/MelbULawRw/2011/28.html">doctrine of adverse possession</a>”. The fact that a person can change the locks on someone else’s house, wait 12 years, and claim it as their own, makes students light up in a way that the Strata Schemes Management Act never will. The idea of “squatters’ rights” has received a lot of media attention recently amid the grim reality of the Australian housing market. It fuels commentators such as Jordan van den Berg, who <a href="https://www.instagram.com/purplepingers/">critiques bad landlords</a> on social media. Casting back to his days as a law student, <a href="https://www.sbs.com.au/news/the-feed/article/jordan-was-fed-up-with-australias-empty-houses-his-proposal-has-led-to-death-threats/stx6rv6fl">he’s promoting</a> the doctrine of adverse possession as a way of making use of vacant properties. As interesting as the doctrine is, it has little relevance in modern Australia. While it is necessary to limit the time someone has to bring legal proceedings to recover land – typically 12 or 15 years, depending on which state you’re in – most people don’t need that long to notice someone else is living in their house. If a family member is occupying a home that someone else has inherited or a tenant refuses to vacate at the end of a lease, owners tend to bring actions to recover their land pronto. So where did this doctrine come from, and what has it meant in practice? <h2>Free house fetching millions</h2> In unusual circumstances, people can lose track of their own land. Just before the second world war, Henry Downie moved out of his house in the Sydney suburb of Ashbury. Downie died a decade later, but his will was never administered. At the time of his death, a Mrs Grimes rented the house and did so for a further 50 years. Downie’s next of kin did not realise they had inherited the house or that they were Grimes’s landlord. Grimes died in 1998 and Bill Gertos, a property developer, saw the house was vacant. He changed the locks, did some repairs, then leased the house and paid the rates for the next 17 years. He then made an application under <a href="https://classic.austlii.edu.au/au/legis/nsw/consol_act/rpa1900178/s45d.html">NSW property laws</a> to become the registered proprietor. At this point, Downie’s next of kin became aware they may have been entitled to the property and disputed Gertos’s claim. The <a href="https://www8.austlii.edu.au/cgi-bin/viewdoc/au/cases/nsw/NSWSC/2018/1629.html">court held</a> Gertos had been “in possession” of the property since the late 1990s. The next of kin had a legal right to eject him, but they had failed to do so within the statutory time limit of 12 years. Gertos had the best claim to the house. He <a href="https://www.domain.com.au/6-malleny-street-ashbury-nsw-2193-2015821514">promptly sold it</a> for A$1.4 million. Outrageous as this may seem, the law encourages caring for land. If you fail to take responsibility for your land, and someone else does, you can lose it. <h2>An old English tradition</h2> Gertos’s jackpot was unusual, and adverse possession has always been more relevant in a country like England. First, for much of English history, many people did not have documentary title (deeds) to their land. People were illiterate, parchment was expensive, and documents could disappear in a puff of smoke in a house fire. The law often had to rely on people’s physical possession of land as proof of ownership. Second, as a result of feudalism, vast swathes of England were owned by the aristocracy. They and their 20th-century successors in title, often local councils, had a habit of forgetting they owned five suburbs in London. In the post second world war housing crisis, thousands of families, and later young people and students, <a href="https://www.bbc.co.uk/sounds/play/b017cfv4">squatted in vacant houses</a> owned by public and private landlords who lacked the means or motivation to maintain them. <h2>A sign of the times</h2> In contrast, in Australia, for most of our settler history, governments of all political persuasions actively prevented the emergence of a landed class. But now, courtesy of tax policies that <a href="https://www.quarterlyessay.com.au/essay/2023/11/the-great-divide">encourage investment</a> in residential real estate, we have a landlord class of Baby Boomer and Gen X investors. That has caused housing market stress as younger people cannot make the natural transition from being renters to homeowners. They are outbid by older, wealthier buyers whose tax benefits from negative gearing increase with every dollar they borrow to buy an investment property. Money flowing into the market then means that landlords’ greatest benefit is capital gain rather than income, and thanks to John Howard, investors pay <a href="https://theconversation.com/stranger-than-fiction-who-labors-capital-gains-tax-changes-will-really-hurt-109657">no tax</a> on half of that gain. Finally, an almost exclusive reliance by government on the <a href="https://australiainstitute.org.au/post/for-more-affordable-housing-we-need-more-public-housing/">private sector</a> to provide new homes – which it will only do if it is making a profit – has left many people in deep housing stress. While squatters in Australia are likely to find themselves swiftly subject to court orders for ejection, van den Berg’s rallying cry indicates just how inequitable the housing market has become. Baby Boomers and Gen X should be on notice – young people want their housing back. <img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/227556/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/cathy-sherry-466">Cathy Sherry</a>, Professor in Law, <a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/if-you-squat-in-a-vacant-property-does-the-law-give-you-the-house-for-free-well-sort-of-227556">original article</a>.

Legal

"Out-of-touch" Project stars slammed over clash with renter advocate

Social media users have slammed The Project hosts, following their recent interview with a renter advocate who encourages Aussies struggling with the housing crisis to squat in empty homes. Jordan van den Berg, founder of the S*** Rentals website shared a video over the weekend outside a rundown house in Chadstone, Melbourne, saying: “Are you sick of rich people hoarding empty houses during a housing crisis? I know I am." “Here’s how you can do something about it.” He then encouraged people to submit information on empty homes in their suburbs via a form on his website, which he plans to promote on his socials so those struggling to find a home could squat in them. “Fun fact – squatting in Australia is not necessarily illegal, which is the best type of legal, especially if the front door doesn’t actually lock," he said. On Monday, he appeared on The Project to talk about his controversial plans, and was grilled by the show's hosts. “I know we’re in a pretty serious housing crisis, but do you really think encouraging people to squat in private properties is the way to fix it?" asked co-host Sarah Harris. “Let me answer your question by asking you a question. Do you think it’s right we have thousands of vacant, abandoned homes while we have people living on the street?” van de Berg replied. Harris said she didn’t and asked whether the solving the housing crisis should be focused on policy instead. Later in the interview, panellist Steve Price casted his doubts on whether there actually were a lot of vacant homes, but van de Berg replied that he'd received over 300 submissions from Aussies about empty homes in their suburbs. van de Berg also said that desperate people are even squatting in abandoned properties, and added: “If someone needs a house, they can reach out to me and I’ll send them [details about] an empty home." Harris was shocked that people would “basically camp out in abandoned houses with no power" which van den Berg argued that “camping out inside” was likely better than sleeping on the streets or in a park. Co-host Waleed Aly then asked whether van de Berg was encouraging people to break the law, but he pointed out that squatting – done properly – isn’t technically illegal. The interview has been slammed on social media, with Writer and comedian John Delmenico posting on X: “Watching the rich out-of-touch panel on the Project realise in real time that not everyone is rich is so bizarre. "Especially the part where Pingers has to explain that being in a house is safer than sleeping on the street. How do they host the news with no connection to reality?” Others agreed mocking the panellists’ shock that “shelter without electricity is better than no shelter with no electricity”. “She was laughing at the fact that ppl would camp out in abandoned houses with no power/water, until he put her in her place by reminding her they’re better off camping under shelter than outside. Mic drop moment," one wrote. “Homelessness exists … it’s quite a big problem actually," another added. However, a few others agreed with the Project hosts. “Encouraging people to squat, who does he think he is?" one wrote. “He thinks he’s doing a good thing, but he’s given absolutely no critical thought to the implications of encouraging people to take over ‘empty homes’," another added. Leo Patterson Ross, chief executive of the Tenants Union of NSW, said that van den Berg was “drawing attention to issues that government should be acting on”. “In the middle of a housing crisis with growing levels of homelessness, we should be looking to ensure homes are not left vacant,” Patterson Ross said. “If a person leaves a property unattended and empty for 12 years, then I think many of us would agree it seems fair that the community can reclaim usage to provide a home, whether that be individuals or government.” Image: The Project

Legal

Stay or go? Most older Australians want to retire where they are, but renters don’t always get a choice

<a href="https://theconversation.com/profiles/christopher-phelps-378137">Christopher Phelps</a>, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a>; <a href="https://theconversation.com/profiles/rachel-ong-viforj-113482">Rachel Ong ViforJ</a>, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a>, and <a href="https://theconversation.com/profiles/william-clark-1488932">William Clark</a>, <a href="https://theconversation.com/institutions/university-of-california-los-angeles-1301">University of California, Los Angeles</a> As Australia’s population gets older, more people are confronted with a choice: retire where they are or seek new horizons elsewhere. Choosing to grow old in your existing home or neighbourhood is known as “ageing in place”. It enables older people to stay connected to their community and maintain familiarity with their surroundings. For many, the decision to “age in place” will be tied to their connection to the family home. But for many, secure and affordable housing is increasingly <a href="https://theconversation.com/ageing-in-a-housing-crisis-growing-numbers-of-older-australians-are-facing-a-bleak-future-209237">beyond reach</a>. This choice may then be impeded by a lack of suitable accommodation in their current or desired neighbourhoods. Our recently published <a href="https://doi.org/10.1177/01640275231209683">study</a> asks what motivates older homeowners and renters to age in place or relocate, and what factors disrupt these preferences. It suggests older renters are often not given a fair choice. <h2>Most older Australians want to age in place</h2> Having the option to age in place enables older people to retain autonomy over their lifestyles and identity, promoting emotional wellbeing. Using 20 years of data from the government-funded Household, Income and Labour Dynamics in Australia (HILDA) survey, we tracked the preferences of Australians aged 55 and over. Encouragingly, most older Australians are already where they want to be. Two-thirds (67%) of respondents strongly preferred to stay in their current neighbourhood, and an additional one-fifth (19%) had a moderate preference to stay. Only 6% showed a moderate or strong desire to leave. Ageing in place is then the natural choice for a vast majority of older Australians. <iframe id="s3LTM" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/s3LTM/1/" width="100%" height="400px" frameborder="0"></iframe> Our study highlights several motivations for people to stay put as they retire. For homeowners, family ties matter. Owners with children residing nearby were around one and a half times more likely to have a higher preference to stay. Older owners might then have a reason to call on their substantial <a href="https://theconversation.com/the-housing-wealth-gap-between-older-and-younger-australians-has-widened-alarmingly-in-the-past-30-years-heres-why-197027">housing wealth</a> and keep their children nearby via the <a href="https://360info.org/how-to-help-the-young-buy-a-home/">“bank of mum and dad”</a>. For renters, how long they stay is important. Those renting their home for 10 years or more were 1.7 times more likely to have a higher preference to stay than short-term renters. <h2>Renters face the most disruption</h2> The survey enabled us to follow where older people lived a year after they provided their preferences. This helped us gauge how often they turned their desires into reality. The chart below indicates that private renters face greater obstacles to ageing in place. Around one in 10 private renters that desired to age in place were disrupted – they wanted to stay in their neighbourhood but didn’t. This suggests they moved out of their neighbourhood involuntarily. Only 2% of homeowners and social renters experienced the same disruption. However, for those in these tenures that did not desire to age in place, involuntary immobility was a greater concern. Only 15% of those that wanted to leave succeeded, leaving the vast majority “stuck in place”. <iframe id="IlliV" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/IlliV/1/" width="100%" height="400px" frameborder="0"></iframe> The private rental market is the least secure of tenures, and so private tenants are often exposed to involuntary moves. Australia’s private rental system is lightly regulated compared to many other countries, creating tenure insecurity concerns. On the other hand, social renters were particularly susceptible to involuntary immobility. Social housing is scarce in Australia and subject to <a href="https://theconversation.com/its-soul-destroying-how-people-on-a-housing-wait-list-of-175-000-describe-their-years-of-waiting-210705">lengthy waiting lists</a>. A neighbourhood move often requires transferring to the less affordable and less secure private rental housing. Even after considering financial status, social renters were four times as likely to be stuck as compared to private renters. Social tenants are strongly deterred from moving in the current system. <h2>How can we support older Australians’ preferences?</h2> Our study exposes some barriers in the housing system that hinder people from being able to age in place, or move when they want to. Clearly, older renters enjoy fewer protections against disruptions to their preferences to age in place than older owners. For private renters, tenure insecurity in the <a href="https://theconversation.com/insecure-renting-ages-you-faster-than-owning-a-home-unemployment-or-obesity-better-housing-policy-can-change-this-216364">private rental sector</a> is a key reform priority. This can be achieved through stronger regulation that improves tenants’ rights. For example, more states could adopt <a href="https://theconversation.com/how-5-key-tenancy-reforms-are-affecting-renters-and-landlords-around-australia-187779?utm_source=twitter&utm_medium=bylinetwitterbutton">recent regulatory rental reforms</a> that support the rights of pet owners and protect against no-grounds evictions. Large numbers of older private renters also face severe <a href="https://www.oldertenants.org.au/publications/ageing-in-a-housing-crisis-older-peoples-housing-insecurity-homelessness-in-australia">rental stress</a>, which may force them to move from their preferred neighbourhood. <a href="https://theconversation.com/1-billion-per-year-or-less-could-halve-rental-housing-stress-146397">Commonwealth rent assistance reform</a> would alleviate some of this stress through an increase in rates and better targeting. An increase in the supply of social housing would play an important role in improving both tenure security and housing affordability. Older social renters enjoy fewer obstacles to ageing in place than older private renters. However, if social renters want to move into the private rental market to relocate, they face difficulty securing accommodation. This will likely discourage moves as it would require sacrificing the tenure security offered by social housing. However, policy initiatives that improve the <a href="https://www.ahuri.edu.au/sites/default/files/migration/documents/PES-358-Lessons-from-public-housing-urban-renewal-evaluation.pdf">quality of the public housing stock</a> can reduce feelings of being stuck. As <a href="https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure">homeownership rates decline</a> both among young people and those nearing retirement, we can expect the population of older renters to grow. Overall, our findings support a strong case for policy reform in the rental sectors to address the needs and preferences of older renters.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/218024/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/christopher-phelps-378137">Christopher Phelps</a>, Research Fellow, School of Accounting, Economics and Finance, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a>; <a href="https://theconversation.com/profiles/rachel-ong-viforj-113482">Rachel Ong ViforJ</a>, ARC Future Fellow & Professor of Economics, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a>, and <a href="https://theconversation.com/profiles/william-clark-1488932">William Clark</a>, Research Professor of Geography, <a href="https://theconversation.com/institutions/university-of-california-los-angeles-1301">University of California, Los Angeles</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/stay-or-go-most-older-australians-want-to-retire-where-they-are-but-renters-dont-always-get-a-choice-218024">original article</a>.

Retirement Income

Australia's oldest person bids farewell to iconic beach house

In a heartwarming tale that speaks to the enduring love for cherished places and the passing of generational torches, Marija Ruljancich, Australia's oldest person, has bid farewell to her beloved holiday retreat. The Sorrento pile, nestled on Victoria’s Mornington Peninsula, has found new hands, marking the end of an era and the dawn of a promising new chapter. Marija, who reached the remarkable milestone of 110 years in 2023, has been the guardian of this beachside haven for countless years. With its origins tracing back to 1960, when it was designed by the esteemed architect Daryl Jackson AO for local businessman Robert Riley, the house has stood as a testament to timeless design and cherished memories. The sale of this iconic property has not only captured the attention of locals but also stirred the hearts of many across the nation. Despite its undisclosed transaction sum, it's understood that the sale falls within the property's estimated range, a fitting exchange for a home steeped in history and affection. What truly warms the soul is the buyer's commitment to honouring the legacy of Riley House. With plans to restore the dwelling to its original glory, there's a palpable sense of joy and relief within Marija's family. The Melbourne-based buyer, driven by a passion for preserving architectural heritage, sees beyond the bricks and mortar; they envision a continuation of the house's story, enriched by their own memories and experiences. As Liz Jensen of Kay & Burton Portsea recounts the emotional journey of the sale, it's evident that this isn't merely a transaction; it's a celebration of life, love, and the power of preservation. "Congratulations to Australia’s oldest living person," Liz wrote on Instagram, "as today she successfully sells her long-held and much loved Sorrento mid century beachside family holiday home designed by Architect Daryl Jackson AO." The buyer's dedication to retaining even the smallest details, such as the built-in speaker nestled within the dining room cupboard, speaks volumes about their reverence for the past and their vision for the future. Amid whispers of demolishing the home, the decision to uphold its structure stands as a testament to the enduring spirit of community and connection. For those who walked through its halls during inspections, the house isn't just a property; it's a repository of memories, a canvas upon which stories of old Sorrento are painted with every creaking floorboard and whispering breeze. For Marija and her family, and for all those who have been touched by its charm, the legacy lives on – a timeless reminder of the beauty found in preserving the past while embracing the promise of tomorrow. Images: Instagram | Kay & Burton Portsea

Real Estate

Elevating tradition: La Traviata at the Sydney Opera House

Opera Australia is set to enchant audiences as it opens its highly anticipated 2024 season with the Sydney premiere of Sarah Giles’ acclaimed production of Verdi’s timeless masterpiece, La Traviata. The curtains will rise on January 2nd at the iconic Joan Sutherland Theatre in the Sydney Opera House, promising an unforgettable journey into the world of love, sacrifice and redemption. Hailed as "an absolute triumph" by The AU Review and described as "audaciously new" by InReview, this co-production by Opera Queensland, State Opera South Australia and West Australian Opera promises to deliver the quintessential glamour of La Traviata while offering a fresh, female perspective. Director Sarah Giles skilfully brings the inner turmoil of Violetta to the forefront, shedding light on the harsh realities and heartaches of her life as a courtesan. Enhancing the narrative, Charles Davis' masterful set design delves into Violetta's public and private spheres, while his costumes brilliantly capture the opulent world of lavish parties and extravagance synonymous with La Traviata. For the first time, the award-winning conductor Jessica Cottis will take the baton, leading the Opera Australia Orchestra and the celebrated Opera Australia Chorus through Verdi's emotionally stirring score. Audiences can anticipate spine-tingling renditions of iconic pieces such as the lively "Brindisi" and the achingly beautiful "Sempre libera". Taking centre stage as Violetta, Australian soprano Samantha Clarke, fresh from a string of successful debuts in prestigious venues worldwide, including Carnegie Hall and the Sydney Symphony Orchestra, is set to mesmerise audiences with her poignant portrayal. Joining her are the talented Australian-Chinese tenor Kang Wang, reprising the role of Alfredo, and New Zealand baritone Phillip Rhodes, making his Opera Australia debut as Giorgio Germont. As the season progresses, rising Australian soprano Sophie Salvesani will step into the shoes of Violetta, a role she previously captivated audiences with in 2022. Alongside her, Australian tenor Tomas Dalton returns as Alfredo, while baritone Luke Gabbedy, fresh from his acclaimed performance in OA's five-star production of the Ring Cycle in Brisbane, graces the stage as Giorgio Germont. Prepare to be swept away by the passion, drama, and timeless melodies of La Traviata, as Opera Australia invites you to experience this unforgettable journey of love and sacrifice, reimagined for a new era. Don't miss your chance to witness this exquisite production at the Sydney Opera House, from January 2nd to March 16th, 2024. For more information, <a href="https://www.sydneyoperahouse.com/opera-australia/2024-season/la-traviata" target="_blank" rel="noopener">click here</a>.

Art

What is negative gearing and what is it doing to housing affordability?

<a href="https://theconversation.com/profiles/michelle-cull-340911">Michelle Cull</a>, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</a> Australia’s housing crisis is putting the <a href="https://www.mortgagechoice.com.au/guides/what-is-the-great-australian-dream/">Australian dream</a> to own one’s home out of reach for many. But it’s not just <a href="https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure">home ownership</a> that has been affected. Rental affordability has also become a serious issue. This has reignited the debate about negative gearing; whether or not it is fair and whether it holds the key to fixing the housing crisis. <h2>What is negative gearing?</h2> <a href="https://treasury.gov.au/review/tax-white-paper/negative-gearing">Negative gearing</a> refers to using borrowed money to invest in an asset so it results in a loss which can be claimed as a tax deduction against other income. For example, a property investment is negatively geared if the net rental income received is lower than the mortgage interest. The loss is then offset against other income, such as wages and salaries, which reduces the amount of income tax payable. Negative gearing is commonly used for property investments but also applies to other investments (such as shares). Investments can also be positively geared when net income from the investment is more than the interest on borrowings. The attractiveness of negative gearing in Australia is mainly due to its ability to reduce the amount of income tax. For this reason, it can be more beneficial to individuals who are on higher marginal tax rates. However, capital gains tax must be paid on any gain when the asset is sold. <h2>How does negative gearing work?</h2> Let’s look at a simple example of negative gearing. Say an investment property was rented to tenants at A$500 a week ($26,000 a year), and associated expenses (such as agent fees, rates, mortgage interest, maintenance) were $40,000 for the year. This leaves a shortfall of $14,000. The property owner can deduct the $14,000 from their taxable income to reduce their liability. For example if they received $100,000 from wages, they would pay tax on only $86,000 (saving $4,550 in income tax). Individuals on higher incomes and therefore higher marginal tax rates would receive larger tax deductions (for example, someone earning over $180,001 would pay $6,300 less tax). While negative gearing an investment property can reduce tax while it is being rented, it can also result in a large <a href="https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/what-is-capital-gains-tax">capital gains tax</a> bill once the property is sold (even though capital gains tax is halved for assets held for more than 12 months). For example, if the cost base for a property purchased ten years ago was $400,000 and it sells for $900,000 today, capital gains tax would be calculated on half of the $500,000 difference. At a marginal rate of 45%, the tax bill would be $112,500. <h2>How widespread is it in Australia?</h2> According to the <a href="https://data.gov.au/data/dataset/taxation-statistics-2020-21">Australian Taxation Office</a>, about 2.25 million individual tax payers (21% of all individual tax payers) claimed deductions against rental income for a total 3.25 million properties in 2020-21 financial year. Of these, 47% negatively geared their properties, claiming a net rental loss. This is equivalent to just less than 10% of all taxpayers. Investors with fewer properties were more likely to be using negative gearing with over 71% of property investors having only one investment property. <hr /> <iframe id="Wv9lV" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/Wv9lV/" width="100%" height="400px" frameborder="0"></iframe> <hr /> The largest group of property investors (524,220) had one investment property and a total annual taxable income between $50,001 and $100,000. The chart above shows the proportion of property investors by age group. From 2016-2017 to 2020-2021, the total net rental income on property investments in Australia went from a loss of $3.3 billion to a gain of $3.1 billion (as you can see from the chart below). For the same period, the proportion of investors negatively gearing their properties dropped from 58% to 47%, as lower interest rates reduced losses. <hr /> <iframe id="fXnoe" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/fXnoe/" width="100%" height="400px" frameborder="0"></iframe> <hr /> Negative gearing is also becoming less attractive with the government’s recent changes to <a href="https://treasury.gov.au/tax-cuts">tax brackets and marginal tax rates</a>. According to a study conducted by <a href="https://www.pexa.com.au/staticly-media/2023/03/Whitepaper-2-Private-renting-in-Australia-a-broken-system_compressed-sm-1679450145.pdf">LongView and PEXA</a>, 60% of property investors would be financially better off if they instead put their money into a superannuation fund. <h2>When was it introduced?</h2> Negative gearing has been allowed under tax laws since 1936. It was thought it would encourage investment in housing and increase supply. However, debate around its impact on housing affordability led the government to partially abolish it in 1985 by not allowing rental property losses to reduce tax on other sources of income. There was a shortage of housing and rents rose during the two years it was abolished. As a result, in 1987, negative gearing was reinstated and capital gains tax legislation was introduced. <h2>Is it used in other countries?</h2> Canada, Germany, Japan and Norway use negative gearing. In Finland, France and the United States, rental losses can offset future rental income only. In the US, <a href="https://www.irs.gov/publications/p936#en_US_2023_publink1000229891">home owners are entitled</a> to claim a tax deduction for mortgage interest on their own home. The use and benefit of negative gearing depends upon all aspects of a country’s tax system. So although it may be attractive in countries with high marginal tax rates, other taxes such as capital gains tax, land tax and stamp duties may reduce its appeal. <h2>Negative gearing’s impact on housing affordability</h2> Many factors affect the cost of housing, including interest rates, inflation, employment, the overall taxation system and population growth, making housing affordability a complex issue. <a href="https://www.smh.com.au/politics/federal/nz-kills-tax-loophole-on-property-to-slow-soaring-house-prices-20210323-p57d9s.html">In New Zealand, negative gearing is being phased out</a> due to its impact on housing prices. However, unlike Australia, New Zealand does not have capital gains tax, making negative gearing more popular and more likely to impact housing prices. In addition to phasing out negative gearing, the New Zealand government <a href="https://www.hud.govt.nz/our-work/public-housing-plan/">increased the supply of public housing</a> and <a href="https://www.abc.net.au/news/2023-09-25/nz-auckland-house-supply-experiment-results-in-dramatic-change/102846126">relaxed zoning regulations</a> to provide more affordable housing. In Australia, however, there are concerns abolishing negative gearing will cause rents to rise, as they did in the 1980s. More innovative approaches to housing affordability are needed to ensure ample supply of property for first home buyers and tenants. Some consideration could be given to allowing first home buyers to claim a tax deduction for mortgage interest, increasing capital gains tax, limiting the number or type of investment properties held, capping rent increases, or more infrastructure investment from the government for first home buyers and social housing. One or more of these measures would be a step in the right direction. Negative gearing on its own is not the answer to housing affordability. The whole system needs an overhaul, with a combination of measures needed to adequately address affordability, for now and for future generations. Taking no action will put home ownership out of reach for even more Australians.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/223823/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/michelle-cull-340911">Michelle Cull</a>, Associate professor, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-is-negative-gearing-and-what-is-it-doing-to-housing-affordability-223823">original article</a>.

Money & Banking

Major claim in investigation into deadly house fire that killed five children

The grandmother of five children who died alongside their father in a tragic house fire has spoken out, claiming her daughter had "begged" their landlord to fix the smoke alarms in the house. In August last year, Wayne Godinet, 34, died along with his four-year-old twins Kyza and Koa, his three-year-old son Nicky, and his stepsons Zack, 11, and Harry, 10, in a <a href="https://oversixty.com.au/news/news/6-beautiful-souls-family-break-silence-after-tragic-house-fire" target="_blank" rel="noopener">horrific blaze</a> in Queensland's Russell Island. Mr Godinet and his sons became trapped upstairs of the two storey home after he raced back into the house to save them, while the children's mother, Samantha Stephenson, 28, and her sister were able to escape the fire. On Wednesday, the owner of the rental property, 61-year-old Donna Rose Beadel, was charged by police over her alleged involvement in the tragedy. The family has spoken out in anger, with the grandmother of the five boys, Rebecca Stephenson, claiming that her daughter had spoken to the landlord about updating the smoke alarms in the property just one week before the fire. Ms Stephenson told the Courier Mail, “The week before it happened, Sam texted the landlady and asked for the smoke alarms to be updated.” She claims she knew of at least three times her daughter had asked for the smoke alarms to be fixed. “It was the first thing you noticed when you walked into the house, a smoke alarm hanging from the ceiling and then a marking of one in the kitchen that had been painted over,” she added. Police allege that Ms Beadel's property did not have compliant smoke alarms when the fire broke out, with police further alleging that she wasn’t present when the fire occurred. Image credits: Facebook

Legal

How baby boomers are benefiting from Australia's "worst financial mistake"

A financial expert has explained how baby boomers have remained largely unscathed by the ongoing housing crisis in Australia. ABC finance guru Alan Kohler described the crisis as Australia's "worst financial mistake", as Adelaide has now become the country's second least affordable city. The South Australian capital, which has long been known as one of the more affordable places in the country to live, has skyrocketed in price, as the median price for houses and units in Adelaide was $721,376 in January, which is 7.9 times higher than the state's average full-time salary of $91,026. "There are a couple of things that might surprise you: Adelaide became the second, least affordable Australian city last year," Mr Kohler explained. "Adelaide has just taken over from Hobart in second place." "What's going on: put simply, incomes in Adelaide, Hobart and Brisbane are not keeping up with house prices, which are being pushed up by fast-rising population and by first-home buyers." Mr Kohler, a baby boomer, noted that when he and his wife bought their first home in Melbourne for $40,000 in 1980, he was earning $11,500 as a journalist, meaning his home cost just 3.5 times his income before a mortgage deposit. "When my wife and I bought our first house in 1980, the average house price was 3.5 times average income," he said. "Now, it's 7.5 times and rising." "That didn't have to happen: it's Australia's worst, economic mistake." Mr Kohler said parents were increasingly propping up the mortgage deposits of first-home buyers, as first-home buyer subsidies from the federal government only pushed up property prices. "Despite rising prices and crushing interest rates, first-home buyers were the fastest-growing type of borrower," he said. "The Bank of Mum and Dad coughing up early inheritances and politicians showering them with grants and concessions, desperate to appear to be doing something about affordability while actually making it worse." Image credits: Shutterstock / ABC

Money & Banking

Kochie's brutal message to Baby Boomers

David Koch has shared his brutal thoughts on the housing crisis and rising interest rates, claiming millennials have been dealt the "short end of the stick", while boomers have been spared. The former Sunrise host, who is now the Economic Director at Compare the Market, said young borrowers are copping the brunt of rising interest rates and soaring inflations. “If you bought your home in early 2022 under the pretence that interest rates would stay low for longer, you’ve now been lumped with the short end of the stick,” Mr Koch said. He went on to say young people had difficulty generating any decent savings due to record rental prices and cost-of-living, and those that can scrape together a deposit on a home now face onerous interest charges. Recent data from Compare the Market found homeowners who bought their homes at the peak of the market in early 2022 were far worse off compared to those who bought three years earlier. Those who also bought property before the Covid lockdown have also benefited from a rise in their equity, as property prices have significantly increased over the past four years. Kochie said the repayment hike as a result of rising interest rates was a "tough pill" for young Aussies who had no time to accrue a strong savings buffer. Given these factors, Kochie said many Aussie baby boomers have been spared the pain of rising interest rates. "Meanwhile, a lot of mature Australians have missed this pain altogether after selling their properties at the peak and having reaped the benefits over more equity for years," he said. "A lot of mature Australians have been shielded from the rate rises, and it's already widely believed that their spending drove inflation." A recent report from CommBank iQ found that baby boomers spending on luxuries appears to be further fuelling Australia's inflation crisis as millennials are forced to cut back on essentials. This goes a long way to explaining why the current cycle of interest rate rises are not dampening inflation as expected, as the new big spenders are older people who own properties outright and are therefore unaffected by rate rises. Boomers are are going on holidays and dining out more often, while millennials, battling higher rents and mortgage repayments, rare being forced to reduce their spending to cope with the worst cost of living crisis in a generation. Koch said, "It's time policy-makers should be asking: how could the pressure be more evenly spread?" Aussie baby boomers have long claimed that they had to make the same sacrifices when they were buying their first homes, given the home loan rate in 1989 to 1990 was at 17 per cent, compared to today's six per cent variable rates. However, Kochie debunked this claim, saying current house prices are far higher when measured against average salaries, and that level was only accelerating, far outpacing wages growth. "Back in the 80s, the average cost of an Aussie house was $70,000, now it's $700,000 - ten times more expensive," he said. The financial guru explained how in the 1980s the average salary was $19,000, compared with $94,000 in 2023. "So in the 80s, the price of a house was four times the average person's income," he said. "In 2023, it's eight times the average Aussie salary." Kochie urged mortgage holders hit with higher repayments to call their banks and explore whether refinancing to a lower-rate loan is possible. "We urge people in mortgage pain to reduce the interest on their repayments as much as possible by shopping around for a better deal," Koch said. "When every dollar counts, 2024 should be the year of the new lender." Image credits: Compare the Market

Money & Banking

"Is this legal?" Residents outraged over demanding aircon letter

Residents in a Sydney unit complex were left outraged after they were asked to turn off their air conditioners overnight. A letter placed inside the elevator of the 18-floor apartment building states that the utility can only be used “during the following times." “Weekdays 7am to 10pm, weekends and public holidays 8am to 10pm,” the letter said. “At other times than this, please turn off your air conditioners, especially after 10:00 PM every day.” The letter, which was posted on Facebook, received a lot of backlash from other residents and renters One resident who lived in the 1960s building for a decade said it was the first time she had heard of such a request. “Can anyone please let me know if this is legal? Can they actually force people to not run their own AC units?” the person asked. Many other renters expressed their annoyance, with one joking that they'd have to pry the aircon off their dead hands. “Anyone else feel like we are in a Nanny State?” one wrote. “To be honest with 30°c nights they can pry my aircon from my cold dead heads,” another quipped. One Facebook user also commented that building developers might be to blame. “I think the strata builders got a bit cheap and installed less expensive aircons and therefore they are too loud. Bet if they had decent ones, the tenants wouldn’t have to suffer hot nights because of the noise,” they said. A few others commented that it might not just be a request from strata, but local councils that are enforcing new noise pollution restrictions which affect aircons. City of Sydney, Inner West, and Penrith councils, are a few of the local governments which require the airconditioners to be turned off 10pm to 7am during the week and until 8am on the weekend, the same time requested on the laters. The local governments also recommend that residents and developers purchase high-quality airconditioners that won't cause noise pollution or disturb neighbours. “Even if you’ve been told that it complies with noise requirements, it doesn’t mean it’s going to suit every location all the time,” the Inner West Council website read. The letter comes as Sydney battles its second heatwave in the span of a week. Images: Facebook/ Getty

Legal

9 things you should never touch in someone else’s house

A hands-off approach Nothing like a global pandemic to critically alter your lifelong and intrinsic sanitary practices, huh? And while we know coronavirus does not spread easily from surfaces, there are still plenty of other germs and bacteria that do. And it’s not always a matter of good hygiene – sometimes it’s just a matter of good manners! The door Of course, you can actually touch the door, but you should never do so to let yourself into someone else’s home without them, or without being invited. Always knock or ring the bell, even if it’s been left unlocked, unless someone has expressly told you that you don’t have to. And please, don’t show up knocking earlier than expected – it could be a huge inconvenience to your host. Their bathroom As with most of the things on this list, you should avoid this unless you’re specifically invited. Try not to stray after your trip to the bathroom for a look around – it’s definitely off-limits if you don’t have permission or are going in without your host knowing. Of course, there are exceptions, as it may not be so serious an offence if you know the person very well, or if one lives in a shared living space, a studio, or an apartment with limited space. And on that note, it’s best to wait until you’re invited to sit or relax on someone’s bed. Many people also find that a bedroom is a convenient place to store coats if there are guests coming over, but wait until they offer instead of assuming it’s OK. The floor - with your shoes on Depending on personal preferences or cultural norms, many households have a no-shoes-inside policy. Take the tip from your host – if they’re wearing shoes in their house, you can probably assume it’s OK for you. When in doubt, ask what they would prefer. Another place you shouldn’t be putting your feet? On the couch or coffee table. I can think of five good reasons you should ban shoes in the house, period. The fridge and cupboards This one might sound like it should go without saying, but some might not realize just how rude it is to help yourself to someone else’s food. If you’re hungry, let your host know, or suggest going out to eat. If you’re staying for a long time, your host will probably prepare and shop for food accordingly, but it’s a good idea to offer to bring or buy some groceries yourself. And if you came for dinner, eat what’s been prepared for you, and offer to bring a dish or wine to share. If you have a restricted diet, let your host know beforehand and prepare a dish to bring if it’s difficult to accommodate. Offer to help cook, and lend a hand with the dishes and cleanup. Countertops are absolutely one of those things you should be cleaning every day, regardless. The windows or thermostat Always let your hosts set the thermostat number – it’s their house, after all, and they’re the ones paying the bill for it. If you’re really too cold, a better option might be to ask to borrow a jumper, or extra blankets if you’ll be staying overnight. Too hot? Suggest an activity to help cool off, like going to a place with air conditioning. If you have a medical condition that makes you particularly sensitive to heat or cold, you should always inform your host ahead of time so you can make plans accordingly. Drawers and cabinets This one is definitely invasive of your host’s privacy. Don’t go rummaging for anything that’s not in plain sight or in the rooms your host is expecting you in. You might find it tempting to snoop, but the medicine cabinet is certainly off-limits. Workspaces, mail, or bills To go along with the last one, it’s always best to avoid snooping. In some homes, a guest bedroom might also double as a home office, so steer clear of using these spaces to store your things. You have no idea how they might have organised their things, so try to leave it as is. Not going through someone’s mail is basic manners! Cigarettes or e-cigarettes Unless your host is doing the same and gives you permission, you should never, ever start smoking a cigarette or e-cigarette in someone’s home. This rule is especially inflexible if there are children in the house. Not only can you expose them to the harmful ingredients and chemicals in cigarettes, but the effects – and the smell – can linger long after you’re gone. If you can’t wait, excuse yourself to go outside, and try to move away from doors and windows so it doesn’t waft into the house. Removing the cigarette and cigar smell is quite the cumbersome task. The Wi-Fi Try to refrain from asking for the Wi-Fi password unless you’re a long-term guest or a very frequent visitor. If you’re asking at the beginning of a dinner party, it’s sending the message that you’d rather be on your phone. Try to stay off of your phone as much as possible to really have quality time when you’re visiting. Image credits: Shutterstock This article originally appeared on <a href="https://www.readersdigest.com.au/true-stories-lifestyle/9-things-you-should-never-touch-in-someone-elses-house" target="_blank" rel="noopener">Reader's Digest</a>.

Home & Garden

Baby boomers fight back against "self-entitled whingeing generations"

Angry baby boomers have hit back at young Australians for continuing to blame the ageing population for the current housing crisis. A group of disgruntled seniors have shared their thoughts with the <a href="https://www.smh.com.au/national/blaming-baby-boomers-for-your-money-woes-is-unfair-lazy-and-wrong-20231127-p5en21.html" target="_blank" rel="noopener">Sydney Morning Herald</a> about the "self-entitled" young Australians, who are facing never-before-seen financial and social barriers to break into the housing market. The open letters come in the wake of Census data showing empty-nesters are hanging on to their big homes in inner-city suburbs, while young families are struggling to find suitable housing while also battling mortgage stress and renters are getting relentlessly price-gouged. Despite the current system disproportionately affecting younger Australians, boomers have hit back at universal claims that they had it easier back in the day. "We bought and paid for these homes; it's not our job to house the next generations, it's the government's," explained Kathleen Kyle in a letter to the Sydney Morning Herald. "Nobody questions people who spend their money on lovely cars or antiques, or suggests that they don't need them any more." In another letter, Kathy Willis from Kew near Port Macquarie wrote, "Boomers have worked very hard to get what they have, having brought up their families in these homes." "I suggest the discourse be directed to people such as town planners, local councils and state governments for their lack of vision in the past, and what the present authorities are going to do about it – and of course, the taxpayers' expense." Suzanne Hopping from Redfern, Sydney, wrote that she could no longer stay silent on "boomer bashing" from "self-entitled whingeing generations". "I bought my first home when I was 39 in an undesirable suburb. Buying a home (at 17.5 per cent interest) was as difficult then as it is today." "When I left home I had no expectations of ever being able to afford to buy a place of my own." "Self-entitled whingeing generations, if you don't like what you see, do something positive about it. Each generation has its unique problems, stop the moralising." Wendy Cousins from Balgownie NSW wrote that "boomer bashing" is futile, adding, "Why encourage resentment of boomers because many choose to stay in their homes? This will not free up any housing." "Many have already downsized and those who haven't, have a variety of reasons why they don't. We have enough division in our society without the constant boomer bashing." Despite the views of many disgruntled boomers, University of Melbourne Professor Allan Fels, an economist and mental health advocate, said figures show beyond a doubt that life is much tougher for the younger generation, and basic economics prove it is much harder for them to buy a house. "We baby boomers have had it a lot easier than the new generation of young people," he told <a href="https://www.dailymail.co.uk/news/article-12793605/Boomers-hit-self-entitled-whingeing-young-Aussies-reveal-theyre-not-blame-housing-crisis.html" target="_blank" rel="noopener">Daily Mail Australia</a>. "They face a future of much less home ownership and associated mental health stability. The mere fact they are missing out is a cause of stress." "The trend of rising prices adds to the stress because many used to think that they could buy their own house but they keep missing out because prices are continually rising just beyond their grasp." Image credits: Shutterstock

Money & Banking

Why Dave Hughes didn't buy the final Block house

David ‘Hughesy’ Hughes was the surprise guest at this year's The Block auctions, and the Aussie comedian was keen on buying the final home to go on auction – Leah and Ash’s house. Hughes was one move away from buying House 2 - which was passed in after it failed to hit reserve - but his wife blocked him from buying the home. “I was accosted as I left the auction, trying to get out of there, because one house didn’t sell and I said, ‘I’ll go talk to my wife’,” Hughes said on KIIS FM’s Hughesy, Ed & Erin on Tuesday morning. The radio host then called his wife Holly live-on-air so she could explain the reason why they did not buy House 2. Holly revealed that she "was being asked by students and teachers,” about whether or not the couple bought the Block house. “You [Hughes] came home and as we were getting into bed, you said, ‘How would you have felt if I just bought that house?’ And I said, ‘Furious’," Holly revealed. She then called out her husband, claiming that he only wanted to buy the house to "show off". “If you bought a third house [in Melbourne] without consulting with me …” she said. “He never expressed any interesting in investing in that part of Melbourne, it’s so random, he would’ve just been buying a house to show off. “He had not looked at the houses or anything. He hadn’t watched an episode.” Although Hughes didn't get a property this season, his <a href="https://www.oversixty.com.au/finance/money-banking/dave-hughes-sets-the-record-straight-over-famous-block-house-purchase" target="_blank" rel="noopener">previous Block buy</a> in 2017 was a huge success. Image: Nine

Money & Banking

Tiny house, big dreams: How to take a trip and give back at the same time

When it comes to getting away over the summer, there is no one size-fits-all option to accommodate everyone’s unique needs. Some of us may prefer an off-the-grid adventure to the bush to reconnect with nature, while others just can’t pass up an opportunity to lay on the beach and frolic in the ocean. But if there’s one thing every holiday goer can agree on, it's the absolute need to relax. Luckily, <a href="https://reflectionsholidayparks.com.au/" target="_blank" rel="noopener">Reflections Holiday & Caravan Parks</a> has something for everyone this summer. From blissful camping and caravanning sites to luxurious tiny homes and creature-comfort cabin accommodation, Reflections is proud to be New South Wales’ largest holiday park operator, showing 2 million visitors a year the magic of the outside. You can feel good about your stay with Reflections, as the company is the first and only holiday park group in Australia that is certified as a <a href="https://www.socialtraders.com.au/news/what-is-a-social-enterprise" target="_blank" rel="noopener">social enterprise</a>. That means the profits from the parks go back into the Crown land nature reserves the company manages to protect and nurture the land, for their lasting preservation and the community’s enjoyment while also giving back to local areas. A holiday here is essentially giving back to the local environment and community. I was lucky enough to be invited for a trip away with Reflections, and stayed in a charming Tiny House at the Jimmy’s Beach park in Hawk’s Nest on the mid-coast of NSW. Despite bringing the dreary Sydney rain with me up the coast, my stay with Reflections was nothing short of a dream. The tiny house provided all the comforts we needed on an overcast weekend, with the cosy atmosphere providing the perfect place to fully unwind from busy city life. Despite being, by name, a tiny house, the one bedroom home provided everything we needed, including a comfy bed, spacious shower, a large lounge and TV, as well as everything you could need to cook your own meals. A spacious deck was also most welcome, giving you the chance to sit in the sun and take in the picturesque nature around you, while spotting the best of Australia's wildlife. As the sun came out, we were able to indulge in all that Reflections had to offer, including bush walks, trips to the beach and even a dip in the pool. The sense of community in Reflections holiday parks is palpable, as making friends and meeting new people is encouraged and fostered, with a welcoming environment making it easy to hear the life stories of others as you cross paths in communal areas. The holiday parks are also perfect for families, with playgrounds available for the little ones, and even an ice cream truck making the rounds while playing Waltzing Matilda to signal the arrival of delicious treats. So, when booking your summer trips away, whether you’re after a quiet beach stay, a family-friendly destination, or an exploration off the beaten track, a stay at a Reflections Holiday Park is sure to leave you refreshed, reconnected, and ready for whatever comes your way. Image credits: Supplied

Domestic Travel

Dave Hughes sets the record straight over famous Block house purchase

Dave Hughes has hit back at long-standing rumours that he grossly overpaid for his house in Melbourne at The Block auctions. The radio host addressed the speculation on 2DAY FM’s Hughesy, Ed & Erin breakfast show, as his co-host Erin Molan queried him about how the investment property was performing. In 2017, Hughesy bought the five-bedroom home in Elsternwick, built by contestants Josh and Elyse on Nine’s long-running reno show, for $3.067 million: a whopping $447,000 over the reserve. Given the steep increase of the price, the purchase of the house led to a lot of talk that Dave Hughes had overspent. Molan told her co-host on-air that a recent value estimate of the property that she’d found online put the home at $3.4 million. Six years on from his purchase and with inflation, stamp duty and other factors weighted, Hughes noted that that $300,000-odd increase in value would actually put him at a loss. However, Hughes said he had recently had the house valued himself, and the news was much better: He was told it is currently worth around $5 million. After the purchase of the house, even Hughes himself conceded that he may have spent much more than what the house was worth. In an interview with Stellar magazine in February 2018, he said that the bank had valued the property at “much less” than he paid. “I went to get a bank loan the other day and they haven’t valued it the same as I paid for it, which is fine, but annoying because there were five bidders,” he said. He said it was “enough less that it made me annoyed”. “For f**k’s sake … I just think it’s good value and in a few years’ time people are going to be going, ‘Well, f**k, didn’t he do well with it!’ I am playing the long game, all right? That is what I say to my wife, anyway.” In September of 2018, he told his then-co-host Kate Langbroek that he’d “copped so much flak” over the purchase. He said, “It was ridiculous and it’s gone on and on and on. A lot of experts weighed into my purchase … There are articles that have been written all year having a go at me. One article from one mob called Property One or something, they had a dinner party discussion about how I paid too much.” Image credits: Nine

Money & Banking

Sydney Opera House at 50: a public appeal, a controversial build, a lavish opening – and a venue for all

<a href="https://theconversation.com/profiles/michelle-arrow-45">Michelle Arrow</a>, <a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a> It is one of the most famous buildings in the world. It has an instantly recognisable silhouette that adorns tea towels, bottle openers and souvenir sweatshirts. Miniature versions huddle in snow domes. You can build your own from <a href="https://www.lego.com/en-us/product/sydney-opera-house-10234">Lego</a>. Bidjigal artist and elder Esme Timbery constructed a replica in her trademark <a href="https://recollections.nma.gov.au/issues/volume_7_number_2/papers/displaying_the_decorative">shell art</a>. Ken Done put it on doona covers and bikinis. If you search the hashtag on Instagram, you will see over a million posts. Fifty years ago today, after a prolonged and controversial period of construction, the Sydney Opera House was officially opened by Queen Elizabeth II in a lavish ceremony. Spectators carrying flasks of coffee and cushions watched from the sidelines. More than 2,000 small boats viewed the ceremony from the water. After the national anthem was played and nine F111 aircraft roared overhead, the crowd heard a didgeridoo and Aboriginal actor Ben Blakeney delivered a prologue “representing the <a href="http://nla.gov.au/nla.news-article110753207">spirit of Bennelong</a>”. In her speech, the Queen remarked the Opera House had “captured the imagination of the world”. The opening festivities gestured both to Australia’s deep Indigenous roots and white imperial origins. The building itself symbolised a new era of state investment in cultural infrastructure. This was a hallmark of the “new nationalism” in the 1970s: the arts were regarded as essential to Australia’s newly confident sense of national identity. Today, the Sydney Opera House reminds us Australia can value culture for its own sake. But what did the Opera House mean to Australians when it opened 50 years ago? <h2>Building the Opera House</h2> The campaign for an Opera House in Sydney was initiated by Sir Eugene Goosens, who came to Australia as conductor of the Sydney Symphony Orchestra in 1947. He found a sympathetic ear in Joe Cahill, the Labor premier who committed Bennelong Point to the project and launched an international competition to design the building in 1955. This part of the story is well-known (indeed, there was even an <a href="https://www.theeighthwondertheopera.com">opera</a>). Danish architect Jørn Utzon’s bold, avant garde design won the competition and construction began in 1961, funded – in a democratic touch – by the NSW government’s Opera House lottery. Construction was plagued by difficulties and expanding costs. Utzon famously resigned from the project in 1966; Australian architect Peter Hall oversaw the construction of the interior. In spite of the jokes and doubts, by the time the building was finished, Australians had embraced the Opera House as their own. The Queen tactfully acknowledged the building’s construction delays in her speech at the opening ceremony, <a href="http://nla.gov.au/nla.news-article110753207">suggesting</a> “every great imaginative venture has had to be tempered by the fire of controversy”. <h2>Cringe and strut</h2> As historians Richard White and Sylvia Lawson <a href="https://trove.nla.gov.au/work/35026797/version/50553486?keyword=symbols%20of%20Australia">note</a>, while the Opera House was intended for all performing arts, the centrality of opera – with its expense and small audiences – made a symbolic statement a “new, more sophisticated Australia” had arrived. As Australia sought to find an identity independent of Britain, the Opera House became a symbol of this new nationalist turn. Some fitted the Opera House into older narratives of Britishness: in his book Sydney Builds an Opera House, Oswald Zeigler remarked we needed to thank Captain Arthur Phillip “for finding the site for this symbol of the Australian cultural revolution”. <a href="http://nla.gov.au/nla.news-article110752757">Gough Whitlam declared</a> it was "a magnificent building, Our civilisations are known by their buildings and future generations will honour the people of this generation […] by this building." In spite of this, there was still cultural cringe. The <a href="http://nla.gov.au/nla.news-article110753207">Canberra Times</a> reported the British media believed the Opera House was a sign that “the country had turned a corner artistically”. It was a telling sign of cultural cringe that their opinions were sought at all. The Opera House was part of an Australian cultural renaissance in 1973. The ABC broadcast an adaptation of Ethel Turner’s beloved Seven Little Australians. The bawdy Alvin Purple was a box-office smash. Patrick White became the first (and so far, only) Australian to win the Nobel Prize for Literature. The new wave of Australian drama was in full swing, and the Opera House’s opening season included a play by new wave star David Williamson alongside Shakespeare’s Richard II. Historians have nominated many emblems for the new nationalist mood (from the new national anthem to The Adventures of Barry McKenzie) but I would suggest the Opera House embodies it best: the soaring sails, the bold, rich colours of the interiors, and John Coburn’s glorious, confident curtains for the performance venues. <h2>For the elite or for the people?</h2> There were always objections on the grounds that government investment would be better focused elsewhere, rather than on a performance venue for “elites”. These arguments are wearyingly familiar today. Premier Joe Cahill rejected this charge from the outset: in <a href="https://mhnsw.au/stories/general/sydney-opera-house-the-gold-book/">1959 he declared "</a>the average working family will be able to afford to go there […] the Opera House will, in fact, be a monument to democratic nationhood in its fullest sense." Cahill’s insistence this was a building for everyone to enjoy and be proud of has been fulfilled by its creative use ever since. School children regularly perform; new audiences have been drawn by musicians of all genres, from punk to Prince. But the Opera House has also been a place for creative experimentation and innovative performance – as it should be. Today, 50 years from its opening, the Sydney Opera House reminds us the state still has a role to play in supporting the performing and creative arts in Australia. This radiant, soaring building belongs to all of us: a great reason to celebrate its birthday.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/213252/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/michelle-arrow-45">Michelle Arrow</a>, Professor of History, <a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/sydney-opera-house-at-50-a-public-appeal-a-controversial-build-a-lavish-opening-and-a-venue-for-all-213252">original article</a>.

Domestic Travel

9 tricky ways to clean your house while you sleep

1. Soak a showerhead Mineral deposits can clog a showerhead and affect its pressure over time. To clean, fill a plastic bag with vinegar. Place the bag around the showerhead, submerging it in the liquid. Secure the bag to the neck of the showerhead with a twist tie and leave overnight. The vinegar will break down the buildup by morning. 2. Remove stains on pots and pans If a batch of cookies left your baking sheet gunky, let a dryer sheet clean it overnight. Place the sheet on the pan and fill with warm water. Cleaning agents in the dryer sheet will help loosen stuck-on grime and stains. In the morning, easily wipe off with a sponge. 3. Polish stove grates Cleaning greasy, food-splattered stove burners can be a tiresome chore. Before you go to bed, seal each burner in a large plastic bag with ¼ cup of ammonia. The overnight soak will make it easy to wipe off the surface with a sponge the following day. 4. Banish rust on tools If your rusty tools have seen better days, fill a tray with Coca-Cola. Submerge the tools, allow to soak overnight, and scrub clean with a stiff brush in the morning. The soda’s phosphoric acid will help loosen the gunk. 5. Eliminate wet messes If your sofa or carpet became the victim of an icky, wet mess (say, vomit or urine), mix a paste of baking soda and water to soak it up. Use a spoon to spread the paste over the soiled area. Allow to dry overnight, then vacuum in the morning. 6. Descale a kettle Limescale can build up from calcium carbonate deposits in water, leading to an off-white, chalky deposit in your kettle. To clean, cut a lemon into large slices, place in the kettle, and add water. Bring to a boil, then take the kettle off the heat and leave overnight. The lemon’s citric acid will loosen the limescale. Toss the fruit and water mixture in the morning and rinse before using your newly cleaned kettle. 7. Clean bath toys To make grubby rubber duckies, boats, and other bath toys new again, mix one gallon warm water with ¾ cup vinegar. Soak the toys overnight. Rinse thoroughly and allow to air dry. 8. Make diamonds sparkle Quickly polish a diamond ring by filling a bottle cap with Windex. Soak the ring overnight and dry with a soft cloth in the morning to remove grime and add shine. 9. Remove red wine stains If red wine marked up your favorite garment, sprinkle the stain with salt and cover with club soda. The salt absorbs the stain while the club soda’s carbonation and sodium helps lift it. Leave overnight before laundering. Image credits: Getty Images This article originally appeared on <a href="https://www.readersdigest.com.au/diy-tips/9-ways-clean-house-your-sleep" target="_blank" rel="noopener">Reader's Digest</a>.

Home & Garden

Why is a messy house such an anxiety trigger for me and what can I do about it?

<a href="https://theconversation.com/profiles/erika-penney-1416241">Erika Penney</a>, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a> Do you ever feel overwhelmed by the sight of clutter and mess in your home? Have you walked in the door only to feel overloaded by scattered papers, unwashed dishes and clothes in disarray? Maybe you’ve even had arguments because it bothers you more than it bothers you partner or housemates. You’re not alone. Many people report a messy house can trigger feelings of <a href="https://journals.sagepub.com/doi/abs/10.1177/0146167209352864">stress</a> and <a href="https://www.sciencedirect.com/science/article/abs/pii/S0272494421000062?via%3Dihub">anxiety</a>. So why do clutter and chaos make some of us feel so overwhelmed? Here’s what the research says – and what you can do about it. <h2>Cognitive overload</h2> When we’re surrounded by distractions, our brains essentially become <a href="https://pubmed.ncbi.nlm.nih.gov/21228167/">battlegrounds</a> for attention. Everything competes for our focus. But the brain, as it turns out, <a href="https://psycnet.apa.org/record/1994-43838-001">prefers</a> order and “<a href="https://www.frontiersin.org/articles/10.3389/fnhum.2015.00086/full%22%22">singletasking</a>” over multitasking. Order helps reduce the competition for our attention and reduces mental load. While some people might be better than others at <a href="https://www.pnas.org/doi/full/10.1073/pnas.1523471113">ignoring distractions</a>, distractable environments can overload our cognitive capabilities and memory. Clutter, disorder and mess can affect more than just our cognitive resources. They’re also linked to our <a href="https://pubmed.ncbi.nlm.nih.gov/23907542/">eating</a>, <a href="https://www.sciencedirect.com/science/article/abs/pii/S0360132318307157?via=ihub">productivity</a>, mental health, <a href="https://www.tandfonline.com/doi/abs/10.1207/s15374424jccp3401_9">parenting</a> decisions and even our willingness to donate <a href="https://pubmed.ncbi.nlm.nih.gov/23907542/">money</a>. <h2>Are women more affected than men?</h2> Research suggests the detrimental effects of mess and clutter may be more pronounced in women than in men. One <a href="https://journals.sagepub.com/doi/10.1177/0146167209352864">study</a> of 60 dual-income couples found women living in cluttered and stressful homes had higher levels of cortisol (a <a href="https://pubmed.ncbi.nlm.nih.gov/19596045/#:%7E:text=After%2520controlling%2520for%2520the%2520individual,and%2520poor%2520self-rated%2520health.">hormone</a> associated with stress) and heightened depression symptoms. These effects remained consistent even when factors like marital satisfaction and personality traits were taken into account. In contrast, the men in this study seemed largely unaffected by the state of their home environments. The researchers theorised that women may feel a greater responsibility for maintaining the home. They also suggested the social aspect of the study (which involved giving home tours) may have induced more fear of judgement among women than men. We will all live with clutter and disorganisation to some degree in our lives. Sometimes, however, significant clutter problems can be linked to underlying mental health conditions such as <a href="https://beyondocd.org/information-for-individuals/symptoms/ocd-related-hoarding#:%7E:text=Examples%20of%20hoarding%20in%20the,are%20not%20needed%20any%20more">obsessive-compulsive disorder</a>, <a href="https://beyondocd.org/information-for-individuals/symptoms/ocd-related-hoarding#:%7E:text=Examples%20of%20hoarding%20in%20the,are%20not%20needed%20any%20more">hoarding disorder</a>, <a href="https://psychcentral.com/depression/messy-room-depression#does-it-exacerbate-symptoms">major depressive disorder</a>, <a href="https://www.sciencedirect.com/science/article/abs/pii/S0005796704000531">attention deficit hyperactivity disorder</a>, and <a href="https://www.sciencedirect.com/science/article/abs/pii/S0887618510001647">anxiety disorders</a>. This raises a crucial question: which came first? For some, clutter is the source of anxiety and distress; for others, poor mental health is the source of disorganisation and clutter. <h2>Not all mess is a problem</h2> It’s important to remember clutter isn’t all bad, and we shouldn’t aim for perfection. Real homes don’t look like the ones in magazines. In fact, disorganised spaces can result in increased <a href="https://pubmed.ncbi.nlm.nih.gov/23907542/">creativity</a> and elicit fresh insights. Living in constant disorder isn’t productive, but striving for perfectionism in cleanliness can also be counterproductive. Perfectionism itself is associated with feeling overwhelmed, anxiety and <a href="https://pubmed.ncbi.nlm.nih.gov/28026869/">poor mental health</a>. <h2>Mess makes me anxious so what can I do about it?</h2> It’s important to remember you have some agency over what matters to you and how you want to prioritise your time. One approach is to try to reduce the clutter. You might, for example, have a dedicated de-cluttering session every week. This may involve hiring a cleaner (if you can afford it) or playing some music or a podcast while tidying up for an hour with your other household members. Establishing this routine can reduce clutter distractions, ease your overall mental load and alleviate worry that clutter will spiral out of control. You can also try micro-tidying. If don’t have time for a complete cleanup, commit just five minutes to clearing one small space. If the clutter is primarily caused by other household members, try to calmly discuss with them how this mess is affecting your mental health. See if your kids, your partner or housemates can negotiate some boundaries as a household over what level of mess is acceptable and how it will be handled if that threshold is exceeded. It can also help to develop a self-compassionate mindset. Mess doesn’t define whether you are a “good” or “bad” person and, at times, it may even stimulate your <a href="https://pubmed.ncbi.nlm.nih.gov/23907542/">creativity</a>. Remind yourself that you deserve success, meaningful relationships and happiness, whether or not your office, home or car is a mess. Take comfort in <a href="https://journals.sagepub.com/doi/abs/10.1177/0013916516628178">research</a> suggesting that while disorganised environments can make us susceptible to stress and poor decision-making, your mindset can buffer you against these vulnerabilities. If clutter, perfectionism or anxiety has begun to seem unmanageable, talk with your GP about a referral to a <a href="https://psychology.org.au/psychology/about-psychology/what-is-psychology">psychologist</a>. The right psychologist (and you may need to try a few before you find the right one) can help you cultivate a life driven by values that are important to you. Clutter and mess are more than just visual nuisances. They can have a profound impact on mental wellbeing, productivity and our choices. Understanding why clutter affects you can empower you to take control of your mindset, your living spaces and, in turn, your life.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/211684/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/erika-penney-1416241">Erika Penney</a>, Lecturer in Clinical Psychology, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-is-a-messy-house-such-an-anxiety-trigger-for-me-and-what-can-i-do-about-it-211684">original article</a>.

Mind

Even in a housing crisis, Australians can’t get enough of renovation stories on TV. Why?

<a href="https://theconversation.com/profiles/ella-jeffery-1459839">Ella Jeffery</a>, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith University</a> The Block has begun its 19th season this month, <a href="https://9now.nine.com.au/the-block/2023-season-block-confirmed-location-details-scott-cam-season-19-explainer/b4d5fa4e-690f-4755-90da-caba77925836">billed as</a> “a Block that’s entirely relatable to people right around Australia”. This year, contestants renovate five “authentic ’50s dream homes” in “the perfectly named Charming Street, in Melbourne’s Hampton East”. But if the median price for a four-bedroom house in Hampton East is <a href="https://www.domain.com.au/suburb-profile/hampton-east-vic-3188">around A$1.6 million</a> and the nation’s <a href="https://www.theguardian.com/australia-news/2023/aug/03/more-than-1600-australians-pushed-into-homelessness-each-month-as-housing-crisis-deepens-report-finds">housing crisis</a> shows no signs of easing, who is The Block relatable to? And why do audiences keep coming back to renovation stories? Home ownership is becoming <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BriefingBook46p/HomeOwnership">less accessible</a> and more people than ever are renting, but stories about renovation on TV, in film and in literature continue to have a powerful effect on us. Why? One reason they can be so captivating is that they invoke the idea of the dream home. <figure><iframe src="https://www.youtube.com/embed/KadU7z8GHoE?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption>Season 19 of The Block promises to ‘transform these little time capsules into two-storey mansions’.</figcaption></figure> <h2>Home makeovers are ultimately about us too</h2> Ask anyone you know about their dream home – something I did regularly when I was <a href="https://eprints.qut.edu.au/122955/">writing my PhD</a> on renovation stories – and you’ll get an incredible array of different styles, sizes, locations. Maybe it overlooks the ocean, maybe it has the newest appliances, maybe it has a pool, maybe it’s just a house without a <a href="https://www.theguardian.com/australia-news/2022/apr/29/this-isnt-safe-nsw-renters-fight-twin-battles-against-mould-and-landlords">mould problem</a>. The idea of the dream home is deeply rooted in our shared imagination. The philosopher Gaston Bachelard wrote in <a href="https://www.goodreads.com/book/show/13269.The_Poetics_of_Space">The Poetics of Space</a> (1958) that our houses – both the ones we live in and the ones we dream of – “move in both directions: they are in us as much as we are in them”. Bachelard suggests that in even “the humblest dwelling” our memories, desires and dreams are gathered, and this is why houses are so central to who we are. If houses can be expressions of self, our dream houses say a lot about our desires. While it might no longer look like a <a href="https://www.domain.com.au/news/is-the-aussie-dream-of-a-quarter-acre-block-dead-1221913/">house on a quarter-acre block</a>, the dream still exists. Renovation stories are so compelling because in them, as <a href="https://us.sagepub.com/en-us/nam/ordinary-television/book205099#contents">researchers</a> have noted, home improvement often represents self-improvement – a dream life, not just a dream house. This is especially important in programs like <a href="https://www.imdb.com/title/tt0388595/">Extreme Makeover: Home Edition</a> (2003–20) and <a href="https://www.imdb.com/title/tt0243688/">Backyard Blitz</a> (2000–), which often focus on people presented as hard-done-by whose lives are changed by renovations that solve their day-to-day problems. <h2>Better house, better life</h2> Reality TV isn’t the only place we find this type of story about transformation and self-improvement. In Frances Mayes’ bestselling memoir Under the Tuscan Sun (1996), Mayes travels to Italy and buys an abandoned villa, Bramasole, which she renovates. In the process, she gains a new outlook on life. There’s a similar story in Peter Mayle’s A Year in Provence (1989). Mayle, a UK advertising executive, buys a 200-year-old farmhouse in France and renovates it. Both books were exceptionally successful, inspiring an entire genre of renovation memoirs about wealthy middle-class people able to travel abroad, buy charmingly rundown properties in beautiful locations, and renovate them while enjoying the local lifestyle. In them, renovation is a clear symbol of self-transformation, if only for people rich enough to afford it: renovating houses leads to a greater appreciation of life’s pleasures and a new way of seeing the world. This idea of the renovated life can be especially compelling in a world that increasingly feels <a href="https://theconversation.com/the-doomsday-clock-is-now-at-90-seconds-to-midnight-the-closest-we-have-ever-been-to-global-catastrophe-198457">frightening and overwhelming</a>. Researchers like <a href="https://catalogue.nla.gov.au/catalog/4273551">Fiona Allon</a> argue that renovation stories allow us to turn away from the alarming outside world – with its violence, looming recessions, pandemics, climate crises – and focus on the smaller, more controllable world of the home. Maggie Smith’s viral poem <a href="https://www.poetryfoundation.org/poems/89897/good-bones">Good Bones</a> (2016) plays with this idea. The poem is about a mother trying to convince her children (and herself) that despite being a scary place, the world can be improved. To do this, she uses the analogy of a real estate agent selling a fixer-upper. The poem ends with lines that present renovation as an opportunity for change: "This place could be beautiful, Right? You could make this place beautiful." This optimism is what makes renovation excellent fodder for love stories. In the Nancy Meyers rom-com It’s Complicated (2009), Meryl Streep plays a divorcee looking for a fresh start, who renovates her home and falls in love with her architect, Adam. In The Notebook (2004), Ryan Gosling’s Noah transforms an old plantation estate into his lover Allie’s dream home, a gesture that reveals his enduring love. Renovation stories are always about change (although in <a href="https://www.imdb.com/title/tt5109784/">some</a> the change doesn’t last). Even if, as may be the case for the increasing number of people who are renting, having a house of our own is itself a fantasy. <h2>Renovate? In this economy?</h2> Many renovation stories can be seen as escapist media that trade on the image of the dream home to sell ideas about wealth, taste and style to audiences unable to afford such things. The Block may involve contestants from a range of backgrounds, but few people can afford the multimillion-dollar houses they build. The Block’s viewership has had ups and downs in its two-decade history, but the show (and many others) continues because, despite being about <a href="https://thenewdaily.com.au/entertainment/2023/03/29/the-block-controversy-grand-designs/">profiting from the housing market</a>, it sells the idea of transformation and change, not just in our houses but in our lives. Renovation stories invite audiences to indulge in a fantasy where we become our best selves living in dream homes that protect us from a volatile and threatening world. The dream home might remain a dream, but in renovation stories we escape reality and envision life in a Tuscan villa, or having a butler’s pantry or plunge pool, or simply owning a house of our own.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/211334/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/ella-jeffery-1459839">Ella Jeffery</a>, Lecturer in Creative Writing, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith University</a> Image credits: Instagram - The Block This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/even-in-a-housing-crisis-australians-cant-get-enough-of-renovation-stories-on-tv-why-211334">original article</a>.

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World's most expensive house up for sale

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