Invest
Hot Property: Biggest headlines from the week that was
Businesses are beginning their rebound post-COVID-19 despite Victoria’s second wave of infections, while brokers have gotten a glimpse of what their new best interests duty to consumers will look like: Here are the biggest property stories from this week.
Hot Property: Biggest headlines from the week that was
Businesses are beginning their rebound post-COVID-19 despite Victoria’s second wave of infections, while brokers have gotten a glimpse of what their new best interests duty to consumers will look like: 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.
There are several big-ticket items you should be claiming on your investment property this tax time – have you accounted for them all?
Ray White Group managing director Dan White has said it’s important to understand that the real estate industry has remained very active despite restrictions starting two to three months ago: “During April and May, we served nearly 9,000 Australian families and businesses, representing over $4.4 billion of property. We also conducted 1,025 online auctions, with a better auction day clearance rate than the same months last year.”
- What’s in store for the property market post-COVID-19?
It is unlikely that the Australian property market will sustain any long-term falls due to a combination of migration, foreign investment and government intervention, writes David Hancock. Many markets across Australia also have low supply with demand likely to continue to grow.
First home buyers have been warned not to dive into a property purchase for the sake of government grants without properly considering the future return on that investment, a property investment consultancy has flagged.
An “administrative oversight”, which saw a Perth real estate agency fail to lodge a number of security bonds for up to three months, has led to $5,000 worth of fines.
MI Real Estate Pty Ltd, trading as Soco Realty, had accepted three security bonds from tenants but failed to lodge them as soon as practicable, or within the required 14 days.
There’s been a steady surge in regional property markets since COVID-19 as Australians consider an escape to the city grind, but such a move doesn’t come without its pitfalls, according to a property expert.
The corporate regulator has published the long-awaited guidance concerning the application of the best interests duty on mortgage brokers.
ASIC’s high-level, principles-based guidance seeks to outline obligations under the Financial Sector Reform (Hayne Royal Commission Response – Protecting Consumers [2019 Measures]) Bill 2019, but does not prescribe minimum standards of conduct nor impose new or additional obligations.
Adelaide Bank will not consider applications for its Connective Select white label product from borrowers depending on the federal government’s $25,000 HomeBuilder grant to complete a renovation or construction project – and if the HomeBuilder grant has been disclosed but will not form part of the funds needed to complete a project, then conditional or formal approval would exclude considerations of the $25,000 grant.
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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
Property
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
Property
Australia's housing market is entering a ‘broad-based correction phase’
Westpac believes the housing market downturn is now underway. ...Read more
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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
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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
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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
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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
Property
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
Property
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
Property
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
