Invest
Hot Property: Biggest headlines from the week that was
While the states grapple with containment of new coronavirus outbreaks, the property sector soldiers on: Here are the biggest property stories from this week.
Hot Property: Biggest headlines from the week that was
While the states grapple with containment of new coronavirus outbreaks, the property sector soldiers on: 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.
The corporate regulator has issued warnings to a number of real estate agents after it was revealed that some had been advising tenants to pay their rent by applying for early access to superannuation.
The corporate regulator has followed up on 124 reports of real estate agents who had advised tenants to apply for early release of super to pay their rent and said it was forced to take action on 13 occasions.
Laing+Simmons Bella Vista | Glenwood will merge the former Laing+Simmons Bella Vista with a local Glenwood real estate business, with Sam Dalby and Tony Garay at the helm.
Belle Property has bolstered its offering with a new office in Braidwood, NSW, to be headed up by experienced agent and principal Kelly Allen.
It will focus on rural and residential sales and marketing and “will be opening with a close-knit team with Kelly at the helm, alongside business manager Tim Allen and an assistant agent”.
4. FHB demand soars, bucks credit trend
Aussie Home Loans has reported that home loan enquires from first home buyers surged over the month of June, up 219 per cent from the previous corresponding period.
This is despite a sharp drop-off in demand for housing credit across the broader market, with the latest data from the ABS revealing that the value of home loan approvals plunged 11.6 per cent (seasonally adjusted terms) to $16.4 billion in May – the largest fall in the history of the series.
Jamie McPhee, CEO of ME Bank, has resigned after being at the bank for more than a decade.
Earlier this year, the bank came under fire for its handling of a change to its redraw policy, which saw it reduce the amount borrowers could redraw from specific legacy mortgage products without forewarning customers.
A big four bank subsidiary is offering first home buyers a $1 lender’s mortgage insurance as it looks to support first home buyers.
The question on everyone’s lips is, “Will house prices fall?” writes Aaron Christie-David.
The best advice at this stage is to not panic and watch the market closely. Should you decide to buy, undertake extensive research into the area and type of property, talk to your mortgage broker about what you can afford and run various scenarios to assess how that decision will affect you in the short, mid and long term.
- ‘Recipe for disaster’ brewing for Sydney landlords
Sydney vacancies are now sitting at 4.5 per cent – 0.4 per cent higher than vacancy rates in May, and 1.5 per cent higher than what was posted in March.
According to CEO Tim McKibbin, “Sydney’s inner ring experienced the most significant change, rising 0.8 per cent to 5.8 per cent. Last month, vacancies in the inner ring hit an 18-year high at 5.1 per cent – a result that has been exceeded this month. Looking back at more than 20 years of survey results, we’ve not seen vacancy rates this high. It really is staggering.”
With the recent revelation that Millennials believe the COVID-19 crisis has made their goals of property ownership more likely to be realised, there are a number of ways would-be buyers can take advantage of the less-than-ideal pandemic.
A major bank has announced that it will reduce the borrowing capacity for its customers as it tightens serviceability criteria for new mortgages.
RELATED ARTICLES
About the author
About the author
Property
Young buyers poised for a comeback as 5% First Home Guarantee takes effect
In a move set to reshape the Australian property landscape, the government’s revamped First Home Guarantee is poised to open the doors of homeownership to a new generation of young AustraliansRead more
Property
AFG Securities waives settlement fees for first-home buyers, signalling strategic shift
In a strategic move aimed at easing the financial burden on first-home buyers, AFG Securities has announced the elimination of settlement fees on select loans, potentially saving customers up to $699Read more
Property
From trust woes to wealth: Australian agencies' secret to boosting prices
In Australia’s residential market, trust is no longer a nice-to-have—it’s a pricing variable. Persistent distrust of real estate agents is depressing vendor outcomes and inviting regulatory heat, but ...Read more
Property
Reality check for first home buyers: Affordable suburbs with 5% deposit
In a significant development for Australian first home buyers, a new property search tool from Aussie Home Loans is set to transform the way prospective homeowners approach the market. As the Federal ...Read more
Property
Trust as a performance multiplier in Australia's real estate market
In Australia’s A$10–11 trillion housing market, trust is emerging as a crucial factor that sellers and agencies can no longer afford to overlook. Traditionally viewed as a soft metric, trust is now ...Read more
Property
LJ Hooker Lake Macquarie makes a splash with Belmont buy as real estate consolidation looms
LJ Hooker Lake Macquarie’s acquisition of the Belmont office, including its rent roll, is less about shopfronts and more about balance‑sheet resilience. In a market where listings ebb and flow with ...Read more
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Young buyers poised for a comeback as 5% First Home Guarantee takes effect
In a move set to reshape the Australian property landscape, the government’s revamped First Home Guarantee is poised to open the doors of homeownership to a new generation of young AustraliansRead more
Property
AFG Securities waives settlement fees for first-home buyers, signalling strategic shift
In a strategic move aimed at easing the financial burden on first-home buyers, AFG Securities has announced the elimination of settlement fees on select loans, potentially saving customers up to $699Read more
Property
From trust woes to wealth: Australian agencies' secret to boosting prices
In Australia’s residential market, trust is no longer a nice-to-have—it’s a pricing variable. Persistent distrust of real estate agents is depressing vendor outcomes and inviting regulatory heat, but ...Read more
Property
Reality check for first home buyers: Affordable suburbs with 5% deposit
In a significant development for Australian first home buyers, a new property search tool from Aussie Home Loans is set to transform the way prospective homeowners approach the market. As the Federal ...Read more
Property
Trust as a performance multiplier in Australia's real estate market
In Australia’s A$10–11 trillion housing market, trust is emerging as a crucial factor that sellers and agencies can no longer afford to overlook. Traditionally viewed as a soft metric, trust is now ...Read more
Property
LJ Hooker Lake Macquarie makes a splash with Belmont buy as real estate consolidation looms
LJ Hooker Lake Macquarie’s acquisition of the Belmont office, including its rent roll, is less about shopfronts and more about balance‑sheet resilience. In a market where listings ebb and flow with ...Read more
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
