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The biggest real estate news – the week ending 19 November 2023

By Staff Reporter
17 November 2023 | 1 minute read
Hot property TA

Western Australia pays landlords to put homes on the long-term rental market, RBA upgrades its forecasts, and Gen Zs look to get a foot on the property ladder.

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:

  1. WA offers $10k incentive to flip Airbnbs onto long-term market

A slew of new regulations on short-term rentals in Western Australia – and some monetary bonuses – are designed to push property owners back into the long-term market.

  1. RBA revises up forecasts

The central bank has upgraded its inflation and scheduled repayment forecasts following its latest interest rate increase.

  1. Gen Z eager to own property despite financial woes

Despite ASIC data showing growing financial concerns from Gen Z, brokers are still seeing strong appetite for home ownership.

  1. Granny flats get the green light in Victoria

By December 2023, it will be much easier for Victorians to build a “small second home” on their property.

  1. Canberra expands stamp duty exemption

The ACT government’s stamp duty concession will now apply to off-the-plan properties valued up to $800,000.

  1. Why Australians are no longer in a rush to refinance

Record refinancing numbers appear to have hit a cliff, as the rate of borrowers looking to change lenders experiences a substantial fall.

  1. CBA loan book continues to shrink

The major bank’s home loan balance fell $4.5 billion in the September quarter, with a drop-off in broker-introduced loans.

The biggest real estate news – the week ending 19 November 2023
Hot property TA
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