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Growth, acquisitions, incentives and a booming property market: Here are the biggest property stories from the final week of 2021 first quarter.
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. COO role adds weight to network’s push for dominance
Harcourts Australia has revealed a new executive appointment, nabbing a consultant and former real estate executive to take on the newly created role of chief operations officer.
2. Property platform eyes off Mortgage Choice acquisition
The REA Group is in talks to take over one of Australia’s biggest mortgage brokerage businesses.
In a statement to the ASX, the digital advertising and property platform business has announced a proposal to acquire Mortgage Choice Limited.
3. RLO repeal will make borrowers more responsible: Sukkar
The Assistant Treasurer has acknowledged that borrowers currently bear “limited responsibility” for providing incorrect information on loans, highlighting the need to change lending laws.
4. Why this business dropped boutique for a big brand
Two real estate directors recently ditched a decision to go boutique, and instead, are choosing to rebrand to First National Real Estate Engage Eastlakes. Here’s why.
5. Why Perth is top of mind for property investors
Perth has emerged as a fan favourite among property investors, with the timing of the market and the forecast price growth said to be behind the city’s new-found fame.
6. Queensland property market shines in new report
The latest Queensland Market Monitor from the Real Estate Institute of Queensland (REIQ) reveals that almost every region saw property prices rise by more than 6 per cent over the December 2020 quarter.
According to REIQ CEO Antonia Mercorella, the increase in values across the state, which has continued into 2021, comes off the back of record-low interest rates, low stock availability for sale, improvements in consumer sentiment and “Queensland’s unbeatable lifestyle”.
7. Raine & Horne rewards staff with $250k of ‘the good stuff’
A new internal incentive scheme aims to recognise more members of Raine & Horne’s network than ever before — in a move worth around a quarter of a million dollars to agents, property managers and administrative staff.
8. 10 of Australia’s most affordable regions
With housing affordability an ever-increasing issue within metro capital cities, more buyers are seeking alternative options in the regional markets. Here are some of the standouts.
9. Credit union expands broker channel reach
The credit union has launched in Victoria’s broker market, expanding its push into the state with 600 brokers from PLAN.
10. ACCC clears the way for NAB’s 86 400 acquisition
The competition watchdog has said that it will not oppose the proposed acquisition of neobank 86 400 by National Australia Bank Ltd.
In January of this year, major bank National Australia Bank Ltd (NAB) announced that it would increase its 18 per cent shareholding in 86 400 Holdings Ltd (86 400) to 100 per cent for a total consideration of around $220 million.
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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