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The NSW government dropped its budget, Dan Andrews announced a suite of long-term reforms, and can lower immigration wrangle affordability?
Welcome to Hot Property, REB’s weekly round-up of headline stories that are important not only for the real estate sector, but also for the state of the Australian property market as a whole.
To compile this list, we consider the week’s most-read stories and the news that matters to you, collating your need-to-know property report from across our site and sister brands. Here are the biggest stories of the week:
State Premier Chris Minns stated the budget, which committed $2.2 billion towards the state’s housing sector, “provides the backbone infrastructure so that more homes can be delivered”. The budget also stipulated that 30 per cent of new housing is allocated for affordable housing.
Dubbed “the biggest shake-up to planning and housing reform in generations” by state Premier Dan Andrews, the Victorian government’s recently announced Housing Statement – The Decade Ahead 2024–2034 outlines key, long-term property plans to boost supply and protect renters’ rights.
Affordable housing has seemingly grown more and more unattainable in recent years, and in the belief of one of Australia’s most prominent economists the nation is yet to have a tough conversation about the impacts of booming migration.
New home, same :Different? After appointing administrators back in June, the company found a new home for its operations this week.
As part of the state government’s aforementioned housing shake-up, Victorian short-term rental operators will be charged a percentage of their annual revenue from the beginning of 2025, with the funds raised set to be reinvested to the benefit of the wider housing market.
Medium-to-high density development is viewed as a potential bandaid for Australia’s housing crisis, providing relief and stock at a time when low-density development and land release are scarce. But, is construction matching demand?
A tide of household adjustments of higher interest rates and strong demand from rising population are set to swirl in Australia’s housing market moving forward, according to a new report from one of the country’s leading banks.
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