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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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