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From the rate decision to the release of the long-anticipated federal budget, it’s been a big week for the Australian economy: Here are the biggest property stories from this week.
Welcome to REB’s weekly round-up of the headline stories and news that’s important not only for the real estate sector, but also for the state of property in Australia more broadly.
To compile this list, not only are we taking a look at the week’s most read stories and the news that matters to you, but we are also curating it to include stories from our sister brands that could have an impact on the Australian property landscape.
1. Budget 2020: How will it impact real estate?
Seven months overdue, the long-awaited federal budget has been delivered, setting out a much-anticipated plan for economic recovery post-COVID-19. So, what might this mean for real estate agents?
2. ‘Strong’ and ‘encouraging’: Industry reacts to 2020 budget
This week’s federal budget has been mostly well received by members of the real estate industry, who have applauded the measures taken to boost consumer confidence and kickstart property activity.
3. RBA hands down rate decision for budget day
Despite speculation of a cut to the official interest rate this month, the RBA has decided to keep the official interest rate on hold at 0.25 of a percentage point.
4. REB Women in Real Estate Awards 2020: Nominations now open!
REB, alongside Principal Partner ListReady, is pleased to launch the Women in Real Estate Awards 2020.
5. Budget 2020: What does it mean for property?
“This budget is all about jobs,” proclaimed federal Treasurer Josh Frydenberg in the House of Representatives as he unveiled details of the 2020 federal budget.
6. Could the property market be booming by Christmas?
In what’s a far cry from the large drops seen in the property market just six months ago, a property researcher believes parts of Australia will see a boom by Christmas, growing by as much as 20 per cent over the next 12 months.
Data released by CoreLogic has shown house prices have fallen nationally over September, but rose everywhere except the big markets of Sydney and Melbourne.
7. What to know before taking advantage of government grants
According to Alex Fitzgerald, acquisitions manager for property investment company Custodian, there are massive incentives on offer for first-time property investors, saying: “The financial incentives on offer at the moment for first-time buyers are huge.
“In some states, when you pool the state government and federal government concessions together and take into account the reduced stamp duty, you can access up to $45,000 or $50,000.”
8. The Adviser: Budget 2020–21 released
Several measures impacting home buyers and small businesses have been announced — as part of the government’s plan to “recover from the COVID-19 recession and to build our economy for the future”.
9. Melbourne’s Manor Lakes sets scene for agent’s ‘sharp rebrand’
Victoria’s City of Wyndham has a new real estate entrant courtesy of Eview, with an agent all set to unveil his self-titled agency in the area.
Mahesh Krishna Licensed Estate Agent is the brainchild of Mahesh Krishna, who will service Manor Lakes and the 3024 postcode alongside Eview’s already established agencies of Jazz Real Estate, All West, and Werribee Property Specialists.
10. Harcourts Mandurah hits decade milestone
The knock-on effects of the COVID-19 pandemic has not derailed Harcourts Mandurah, with the team saying they have exceeded expectations this month, clocking up over 4,000 registered sales since its inception a decade ago.
The team said it’s the first office in the Peel region to achieve the feat, having worked tirelessly to ensure they remain competitive during this time.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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