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NSW stamp duty exemption scheme kicks off, inflation forecasts, and questions over the serviceability buffer — here are the biggest property and real estate stories from the past week.
Welcome back 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 most 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 stories of the week:
Promised last June and confirmed last November, this week (16 January) marked the first day of the NSW government’s First Home Buyer Choice scheme, which offers stamp duty exemptions and concessions to eligible home buyers. But how long will it last exactly?
This week also saw federal Treasurer Jim Chalmers come out and state Australian inflation had reached its apex. Though he did note the storm had not been completely weathered, labelling it as “the primary challenge in our economy right now”.
A question that has been on many lips towards the back end of last year, one broker questioned whether the buffer remained too high and cited a myriad of benefits as to why it should be lowered.
Yet another instance of trust account breaches, this case served as a timely reminder of the duties real estate agents have.
Despite predicted uptake to exceed two-thirds of NSW home buyers, a CPA Australia executive warned dodging stamp duty could have unintended consequences on house prices.
After spending the majority of last year in a market downturn, many home owners and investors are searching for a price reprieve in the new year. However, according to CoreLogic economists, this relief may not be within sight.
Does Australian real estate have a new prime investment location? By all reports, the country’s southernmost state could potentially hold that card.
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