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Queensland tax changes, Perth market predictions, and ASX results released: 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:
Changes to Queensland’s tax code that will charge investors land tax based on the value of their entire Australian portfolios regardless of location have broad implications for the country’s landlords, particularly those who might previously have been exempt from some taxes.
2. RBA keeps options open for September
While the central bank went hard on its third consecutive 50-bp hike — without considering another option — the August minutes reveal it is not set “on a pre-set path”.
3. Gavin Rubinstein heralds in ‘new era’ for video marketing
The Luxe Listings Sydney star has spruiked the importance of video as a real estate marketing tool, as he aligns himself with a brand-new app.
4. Treasurer calls on super industry to boost housing investment
The superannuation industry is being called on by the federal Treasurer to consider how it can “do better” in investing in housing.
5. Economists expect upswing in house prices by 2024
While Australia’s house prices are in decline, economists are predicting the upswing should kick in by 2024.
6. First home buyers are flocking to these Australian postcodes
New data has revealed the top Australian suburbs encouraging first-time buyers to take the property plunge.
7. Latest Perth market predictions ‘badly wrong’: Hayden Groves
Following the release of ANZ’s property forecast for the final months of 2022, Hayden Groves has opined that the numbers may not be what they seem.
8. John McGrath shares 5-year plan as ‘strong’ FY22 results unveiled
With McGrath’s latest financial year results now live, the chief executive of the ASX-listed network has hinted at the brand’s big plans for growth.
9. Trust account treated as ‘slush fund’ lands agent with fine, disqualification
A Sunshine Coast real estate director has been fined and temporarily disqualified from working in the real estate industry for mishandling trust account funds.
10. Three-quarters of borrowers unsure how rate hikes impact budgets
Seventy-five per cent of Australian mortgagors are unsure how recent rate increases will increase their household budgets, according to Aussie data.
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