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RBA governor Philip Lowe faces the cash rate heat, the federal government introduces a raft of housing legislation into Parliament, and several state government’s move on social housing.
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 Australian property 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:
Following the central bank’s decision last week to raise the official cash rate once more, Reserve Bank of Australia (RBA) governor, Philip Lowe, faced up with a Senate Economic Committee to defend the bank’s recent decisions.
The introduction of three former federal budget promises turned bills into Parliament late last week was welcomed by many stakeholders within the industry, including one prominent real estate body.
Several leading governments revealed major social housing movements and milestones over the course of the week, from targets hit to programs extended.
The Victorian real estate giant announced a new man to replace former chief executive officer, Marcus Williams, at the helm.
Australia’s gripping rental crisis has seen many stakeholders offer solutions, but Queensland’s leading institute slammed a recent proposal from a state-based tenants advocate for failing to consider the long-term.
Data from CoreLogic has highlighted the market sub-group which has felt the greatest brunt of the recent market downturn, but why was this trend considered “unsurprising”?
It’s no secret Australia’s property market has experienced a sharp decrease in prices over the last 12 months, led by rising interest rates, but what is the extent of the value declines?
Research from major banks revealed consumer confidence and sentiment took a tumble during the week with all three housing-related cohorts reporting confidence declines to levels not seen in over 30 years.
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