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The biggest real estate news – the week ending 11 February 2024

By Staff Reporter
09 February 2024 | 10 minute read
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The first cash rate call of 2024, a new Queensland housing plan, and Western Australia reigns supreme for 2023.

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. RBA delivers first rate call of 2024

After two months of anticipation, the Reserve Bank of Australia (RBA) has revealed whether February will see a cash rate hold or a 14th rate rise.

  1. Rental bidding out in Qld housing shake-up

Queensland’s housing plan is here, with the government unveiling new laws to govern renting across the state and incentives to encourage development, among other changes.

  1. New look for a ‘new era’ of McGrath

Network founder and CEO, John McGrath, unveiled a brand refresh to convey the firm’s commitment to “integrity, transparency and being more human”.

  1. Construction loan volumes hit record low in 2023

Just 32,116 construction loans were issued to owner-occupiers in 2023, the lowest number ever recorded, according to new data.

  1. WA only state to record more investor loans in 2023

New lending figures from the ABS have revealed which states were the leaders in investor lending growth in 2023.

  1. Tradie under fire for accepting deposit for work never done

Home owners have been warned about the risks of paying large deposits upfront for work to be undertaken, after a Western Australian paver took a 50 per cent deposit for a job he never showed up to.

  1. Mortgage repayments ‘still rising’: RBA

Interest repayments on household debt are set to continue increasing as more fixed-rate mortgages roll onto higher rates, the central bank has said.

  1. Raine & Horne unveils ‘sleek and sophisticated’ brand refresh

The updated look aims to unify the network’s operations across the residential, commercial and rural sectors.

  1. Employee households ‘most impacted’ by mortgage interest charges: ABS

Living costs for employee households were most affected by mortgage interest charges, the ABS has revealed.

  1. New mortgage lending drops for first time in 5 months

Despite rising home values, new home lending volumes dropped in December 2023, new ABS figures have shown.

The biggest real estate news – the week ending 11 February 2024
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