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Hot Property: Biggest headlines from the week that was
Australia has reached a new crossroad when it comes to the COVID-19 crisis, both for health and economic reasons: Here are the biggest property stories from this week.

Hot Property: Biggest headlines from the week that was
Australia has reached a new crossroad when it comes to the COVID-19 crisis, both for health and economic reasons: Here are the biggest property stories from this week.

Welcome to nestegg’s weekly round-up of the bricks-and-mortar stories that we think will be most relevant to you, whether as a first home buyer, a seasoned investor or anyone in between!
To compile this list, not only are we taking a look at the week’s most-read stories and the news that matters, but we are also curating it to include stories from our sister platforms that could have an impact on your buying, selling or investment journey, no matter where you find yourself on the property ladder.
Metropolitan Melbourne real estate agents are well prepared for a move back into stage 3 restrictions, the REIV has flagged.
REIV president Leah Calnan said real estate agencies across Melbourne and Mitchell Shire “will continue to service the community with online inspections returning along with online auctions”.
The fallout from COVID-19 has seen Melbourne property markets fall by 2.3 per cent, making it the worst-performing capital city, new research has shown.
- Grays marketplace makes its move in real estate
Grays marketplace is launching itself into the real estate and property market, calling its foray into the sector “the next frontier”.
It’s kicking things off with the sale of several blocks of land in Western Australia’s Kimberleys in a series of online auctions in conjunction with First National Real Estate Kimberley.
According to First National Real Estate’s chief executive, the Victorian suburb of Echuca is trending in the opposite direction of the capital cities and has risen slightly since the COVID-19 pandemic began.
“While the number of homes available for sale is certainly less than it was 12 months ago, the degree of buyer demand for those homes has kept prices steady or even led to higher-than-expected prices being achieved,” CEO Ray Ellis said.
The central bank acted as most economists predicted, holding the cash rate at 0.25 per cent, having previously stated it does not believe negative rates are effective.
Wealthi co-founder Domenic Nesci has noted that hopeful investors and savvy first home buyers are racing to get their feet in the door to take advantage of the HomeBuilder scheme, with two city areas particularly well placed to take advantage of the scheme.
New data from the Real Estate Institute of Western Australia has revealed that June saw the biggest month of sales in Perth since 2015. According to the group, transactions increased 55.1 per cent in June, compared with May, and are 45 per higher than June 2019.
8. Major bank overhauls guarantor policy
Westpac Group – which includes the Bank of Melbourne, BankSA and St.George Bank – has announced changes to its guarantee policy for home loan applications, which includes an expansion of eligibility criteria.
The list of acceptable family members who can provide a “Family Security Guarantee” now includes: parents, step-parents or legal guardians; siblings or step-siblings; and children or stepchildren.
Investors have received a timely reminder that if it sounds too good to be true, it probably is, as a property buyer shares his story about scammers.
Nearly half of home-buying Millennials believe the COVID-19 situation has actually made home ownership a more achievable goal.
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Property prices boosted by housing policies: RBA
The central bank has outlined the “pervasive” impact that policy has on property. ...Read more

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Labor’s ‘Help to Buy’ scheme not without its risks
With Anthony Albanese sworn in as Australia’s 31st PM, home buyers are excited at the prospect of accessing the new ‘Help to Buy’ scheme, but a property expert has warned that the risks may be g...Read more

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Australia's housing market is entering a ‘broad-based correction phase’
Westpac believes the housing market downturn is now underway. ...Read more

Property
ANZ now expects house prices will end the year lower
With higher interest rates on the horizon, the bank is forecasting larger house price declines than previously expected. ...Read more

Property
Which capital cities are most attractive to property investors?
A new survey has suggested that investor attention is shifting away from Australia’s two largest capital cities. ...Read more

Property
Market uncertainty fails to discourage foreign property investors
While interest from foreign investors in Australian property has remained strong, HLB Mann Judd warned that tax increases could see demand shift to other markets. ...Read more

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Regional renters forced to spend more of their income than ever before
Renters in regional areas are spending nearly as much on rent as home owners are spending on mortgage repayments. ...Read more

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Aussie home buyers now need to save for over 11 years for a deposit
Since early 2020, the time needed to save for a deposit has increased by more than two years. ...Read more