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Hot Property: Biggest headlines from the week that was
With Australia on track for a recession despite the loosening of COVID-19 restrictions, the Prime Minister has dropped yet another stimulus package: Here’s the biggest stories from this week.
Hot Property: Biggest headlines from the week that was
With Australia on track for a recession despite the loosening of COVID-19 restrictions, the Prime Minister has dropped yet another stimulus package: Here’s the biggest 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 Reserve Bank of Australia announced its decision on the June cash rate, as the COVID-19 pandemic continues to put pressure on the Australian economy.
The government has unveiled the HomeBuilder scheme, which will see eligible owner-occupiers who are either building or undertaking a substantial renovation given $25,000 for doing so. But who will actually benefit from the stimulus?
OPINION: Serviceability is arguably the most important factor when building your investment portfolio because it can limit your ability to achieve your financial freedom goals, writes Lloyd Edge.
Industry experts have applauded the announcement of a “tradie rescue package” but do not believe that the government’s plan goes far enough. Builders are already noting up to a 40 per cent decrease in work in the pipeline.
RPM Real Estate Group has released research that pinpoints the moment COVID-19 put the brakes on the Victorian property market mid-March.
A period of bleakness following the pandemic being declared. However, signs of buyer activity in April and May are promising, “pointing to a potentially earlier than expected recovery”.
RE/MAX Australia has today revealed a changed leadership structure that will see managing director Michael Davoren take up the role of chairman on the company board in a company refresh.
A property promoted on Openn Negotiation has gone for $150,000 over reserve after being listed for just 13 days.
Selling agent Michael Tomadakis of Biggin & Scott Inner North said, “The bids came in quickly and it all happened so fast. Three minutes had passed and the property had reached the price $1,080,000.”
ANZ has bolstered its assessment team and will prioritise “sensitive” loan applications to address a continued blowout in turnaround times.
According to a communication sent by ANZ to its broker partners on Tuesday (2 June), the bank’s turnaround times have now increased to an average of 35 business days for refinance applications and an average of 15 business days for property purchases.
The Commonwealth Bank has followed Westpac in offering customers a new form of financial assistance during the pandemic.
Treasurer Josh Frydenberg has confirmed that Australia is set to fall into recession for the first time in 29 years.
In a speech to the media, Treasurer Josh Frydenberg explained that the economy contracted by 0.3 per cent over the March quarter, ahead of the collapse in June when the COVID-19 pandemic lockdowns kick in.
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Property
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The central bank has outlined the “pervasive” impact that policy has on property. ...Read more
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Property
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
Property
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
