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From new growth spots to record-high values, Australia’s real estate agents are all set for a boom cycle: Here are the biggest property stories of the 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 do we consider the week’s most-read stories and the news that matters to you, but we curate it to include stories from our sister brands that also have an impact on the Australian property landscape.
1. McGrath merger takes Greater Western Sydney growth seriously
McGrath Parramatta has taken on a new name as it expands its footprint with a new office and new recruits.
2. Sydney property hits record high
Sydney property values are now at an all-time high, having broken a value record set back in 2017.
3. Rental housing crisis descends upon 6 capital city markets
Vacancy rates across six of Australia’s capital cities are at extremely tight levels, prompting a rental housing crisis across many of the regions, new research has revealed.
4. Government to expand SME loan scheme
The Treasurer has announced that the scheme will expand and extend, taking loans up to $5 million and helping businesses to refinance their existing loans.
5. What comes first: the agent or the brand?
Do sellers list with brands or individual agents? A boutique agency’s CEO has weighed in.
6. RBA puts to rest rate chatter and washes hands of house price boom
The Reserve Bank of Australia has put to rest chatter among investors that conditions for a higher cash rate could be met as early as next year and reaffirmed its position that its job does not involve targeting housing prices.
7. Achieving $500k GCI in your first year
When it comes to real estate sales, individuals are often lured by the prospect and promise of being able to “write their own paycheque”, and to a realistic extent, it is true, according to Manos Findikakis.
8. Two-fifths of COVID-19 AFCA complaints about credit
Forty-one per cent of COVID-19 complaints lodged with the complaints authority related to credit, with the majority of issues relating to borrowers not being able to access assistance.
9. ASIC defends higher industry levies
The financial services regulator has responded to concerns that it has substantially upped its levies, outlining that it needs the extra funds to cover its post-royal commission enforcement activities.
10. Steve Kane joins loan market
The former NAB executive has come out of retirement to join Loan Market and steer the group’s transition as it integrates aggregators Choice, FAST and PLAN Australia.
11. Perth sales listings hit 10-year low
Perth is experiencing an “extraordinary” decline in listing volumes, with sales listings hitting a 10-year low in February.
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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