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Underquoting agents, granny flats get the greenlight, and Western Australian home building set to defy the Reserve Bank.
Welcome to REB’s weekly round-up of headline stories that are important to both the real estate sector and the state of the Australian property market.
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. Underquoting Victorian agents handed $1m in fines
An increasing number of underquoting tips have been coming from the industry itself, according to Consumer Affairs Victoria.
2. Could co-ownership revolutionise home buying?
A new proptech claims that joint ownership has the power to help Australians reach their property dreams sooner.
3. Loss-making sales may indicate more mortgage stress: CoreLogic
CoreLogic’s recent report for the September quarter has revealed an uptick in loss-making resales.
4. New Housing Supply Council members unveiled
The National Housing Supply and Affordability Council’s key appointments have been made public, ushering in a promising era for housing policy development.
5. Momentum expands investment in Managed
Momentum Markets Pty Ltd has completed a transaction to secure the majority shareholding of Managed Platforms Pty Ltd, Australia’s fastest growing property management platform.
6. Victoria’s granny flat reforms kick in
Victorians can now build a small second home in Victoria without the need for a planning permit amid fresh reforms.
7. WA house building will ‘defy’ RBA efforts: HIA
While national sales of new homes remain low, Western Australia seems to have bucked the trend, HIA has found.
8. Thousands of Qld homes impacted by Cyclone Jasper
As ex-Tropical Cyclone Jasper has wreaked havoc on the Far North Queensland coast, lenders and brokers stand prepared to offer assistance.
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