Year in review: The stories that defined 2020

We’ve churned through the data to reveal REB’s biggest stories for the year. It gives an interesting insight into those stories that mattered most to the industry as they happened, and how real estate has dealt with the curveballs thrown at it in 2020.

Now, with the benefit of hindsight, enjoy reading through this year’s topmost stories as we gear up for a lighter, brighter and more jam-packed 2021.

Cheers to that!

January: Agencies come together to support bushfire relief

Devastation has grappled Australia with bushfires raging, leaving a trail of destruction. However, in the darkness, a number of agencies have come together to help support those in need.

Was it really only a year ago that Australia was battling one of its worst bushfire seasons on record?

In January, we saw the best of the real estate industry as a number of businesses put aside their rivalries in pursuit of a mammoth rebuilding exercise across a number of affected communities.

February: Belle and hockingstuart join forces

In February, we learnt Belle Property and hockingstuart were combining their expertise and creating a new agency model.

It was a sign of things to come in real estate, with a number of high-profile mergers, expansions and acquisitions taking place over the year.

March: PM bans public auctions, open house inspections in latest crackdown

March was the first month many of us knew COVID-19 would have a huge impact on our day-to-day lives.

From the forming of a national cabinet to the banning of business activities to the widespread roll-out of government stimulus, it was an indication that many of the things we take for granted in Australia would not be able to continue as they had prior.  

April: Airbnb declared illegal in NSW

When the first public orders requiring Australians to stay at home were announced, there was plenty of confusion around how exactly such orders would operate.

It didn’t take long to find out that people would not be allowed to hide out in holiday houses, with the declaration by the New South Wales government that short-term accommodation providers, including Airbnb, were off the cards.

May: Property market set to soar post-COVID

Around six weeks into the pandemic, Australians had started getting used to “a new normal”.

With plenty of us now dealing with much more down time, strides were made in technology, while others looked to data to see how the path out of the pandemic could play out.

June: Global brand shakes up Aussie leadership

While a lot of things changed, other things stayed the same. In other aspects, the only constant was change.

RE/MAX was one of the franchisors that made changes during the pandemic, in a bid to stay ahead, even while the road looked so uncertain.

July: 13 unlicensed advice warnings issued to agents

In the early days of the pandemic, ASIC had delivered a warning to agents who were reportedly offering advice to tenants that they should utilise the early access to super scheme that was on offer from late March to pay their rent.

It turned out, that warning was well founded, with ASIC revealing it had followed up on a number of agents engaging in the practice. 

August: Stage 4 sees Melbourne real estate closures

In August, a new Melbourne outbreak of COVID-19 that spiralled out of control resulted in an eventual 112-day lockdown for the city’s residents.

Case numbers were spiking above 700 per day when Victorian Premier Dan Andrews made the call.

It was the harshest lockdown in Australia seen to date — and real estate agents were not immune.

September: REIV slams Andrews’ renewed restrictions

A month later, the Real Estate Institute of Victoria (REIV) criticised the state government’s decision to keep restrictions in place for longer than originally anticipated.

The period of stage 4 restrictions was originally slated to last for just six weeks, but with case numbers still deemed too high, an extended period of restrictions was ordered.

October: Budget 2020: How will it impact real estate?

Seven months overdue, the long-awaited federal budget was finally delivered, after it had to be pushed back from the original April date due to the pandemic.

On its release, federal Treasurer Josh Frydenberg said “this budget is all about jobs”.

“There is no economic recovery without a jobs recovery. There is no budget recovery without a jobs recovery.”

Calling the attached debt a “heavy burden”, the Treasurer did concede it was necessary to “responsibly deal with the greatest challenge of our time” — expected to peak at $966 billion by 2024.

November: Licence breach lands Perth agency in limbo

While real estate legal dramas were few and far between in the height of the pandemic, November did see a Wembley-based agency have its operations suspended and a supervisor appointed for continuing to operate in breach of relevant real estate laws.

It has offered a timely reminder of the importance of real estate agencies maintaining appropriate licences as per their state and territory requirements.

December: 2 CEOs to spearhead merged entity

An optimist would consider that the re-emergence of mergers is a good sign for the real estate industry post-pandemic.

With REB predicting 2021 to be a bumper year for industry moves and expansions, the amalgamation of Di Jones Real Estate’s two entities is an indication of what’s ahead for real estate.

What was the most defining moment for you in 2020? Let us know in the comments section or reach out at This email address is being protected from spambots. You need JavaScript enabled to view it..