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The Reserve Bank of Australia is set for a shake-up after a government review recommended the central bank be split into two boards, foreign investors reassert their force, and rental tech comes under scrutiny.
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 also 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:
1. RBA to have 2 boards as part of major shake-up
The central bank will soon have two boards — one to set the cash rate and another for governance — as part of one of the biggest shake-ups in the Reserve Bank of Australia’s history.
2. Rental proptech platforms ‘taking advantage’ of desperate tenants, report warns
As the real estate industry becomes increasingly reliant on third-party rental platforms to process rental applications, a new report warned about its “discriminatory impacts” on prospective tenants.
3. Pepper Money launches fixed rate loan with no break cost
Pepper Money has introduced a two-year home loan product that enables owner-occupier and investor borrowers to fix their interest rate with no break costs.
4. ‘The ultimate revenge’: The $150bn+ buyer source for agents
Foreign buyers are returning to the Australian property market in a big way.
5. Qld makes good on sunset clause crackdown
The Queensland government has limited the power of sunset clauses in off-the-plan contracts that some shady developers were using to pull out of existing deals when they felt they could get a higher price.
6. Is Perth on the brink of an apartment shortage?
Perth is facing an “imminent” shortage of apartment supply that could intensify the pressure on its property and rental markets, a local property expert has warned.
7. 10 Aussie suburbs where listings are drying up
While listings are up across the country, not every suburb can say the same about its own local marketplace, according to new data.
8. Qld government rental reform ‘dangerous’ for investor borrowers: REIQ
The Queensland government has been called out by the REIQ over its new rent reform and how it could potentially harm investor borrowers.
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