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The biggest real estate news – The week ending 7 August

By Staff Reporter
05 August 2022 | 1 minute read

The RBA hands down its August decision, Victoria’s rental crisis worsens, and where bargains still abound: here are the biggest property and real estate stories from the past week. 

Welcome to REB’s weekly round-up of the headline stories and news that are 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 matter to you, but we curate it to include stories from our sister brands that also have an impact on the Australian property landscape. Here are the biggest property stories of the week:

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1.     RBA reveals August cash rate decision

Following on from three consecutive higher-than-normal hikes, the Reserve Bank of Australia (RBA) has revealed its official cash rate decision for August 2022.

  1.     ‘Rate rises do and will hurt’: Treasurer

Releasing revised economic forecasts in his first ministerial statement on the economy, Treasurer Jim Chalmers has noted the “pain” that millions of mortgagors are feeling.

  1.     Refinances anticipated amid 4th rate hike

Industry players are now watching for impacts following the RBA’s fourth consecutive cash rate hike.

  1.     What $700k can get you across Australia’s capital cities

On a budget? Take a look around the country and find out what kinds of property can be purchased in the sub-$700,000 range — and where you’ll get the most bang for your buck.

  1.     Buyers advised to enter SA market sooner rather than later

Property buyers who are looking to enter the South Australian market only have a “short window” before the Reserve Bank of Australia starts cutting rates again in 2023, according to James Trimble, the general manager at Raine & Horne. 

  1.     What’s behind Victoria’s rental crisis?

Rental law changes implemented in 2021 have been blamed for a mass exodus of investors leaving the Melbourne market.

  1.     Rate hikes not all doom and gloom, economists suggest

As the central bank has ramped up the pace of interest rate rises, economists say it could be having its “desired effect”.

  1.   Rate rise ramifications: ‘People will be a little more reluctant to sell’

A major network has acknowledged that the latest rate decision from the RBA will have a knock-on effect on the traditional spring selling season.

The biggest real estate news – The week ending 7 August
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