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NSW election promises, Australian rents’ record year, and when will we start seeing inflation slow? Here are the biggest property and real estate stories from the past week.
Welcome to REB’s weekly round-up of 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 matters to you, but we curate it to include stories from our sister brands that also have an impact on the Australian property landscapes. Here are the biggest property stories of the week:
As the state gears up for a first election in four years, NSW Labor Party began the second week of the new by promising a host of property legislative changes while also promising a pilot build-to-rent project on the state’s south coast.
The week brought with it the Australian Bureau of Statistics (ABS) consumer price index (CPI) for November 2022, which revealed the figure had hit a 30-year high in the penultimate month of last year.
Also, this week, CoreLogic’s Home Value Index (HVI) for December 2022 revealed national house prices’ rate of decline reaccelerated during the year’s final month, taking the annual rate of decline to its greatest in over a decade.
Despite the market easing late, last year ultimately resulted in national rents rising to unprecedented levels, according to research from CoreLogic.
Home ownership is a major goal of many Australians, young and old, but is it their top goal for 2023? And if so, how do they plan to realise it?
Following last year’s devastating flooding in the Sunshine State, the government’s buyback initiative launched early last year has begun the process of flood-inundated homes in eight local government areas.
The Reserve Bank of Australia’s (RBA) consistent cash rate increases implemented throughout 2022 to fight inflation had many unintended consequences, including drying up the large pipeline of building work from earlier in the year, according to data from the ABS.
This article aimed to provide clarity to those looking to access the government scheme.
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