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Hot Property: Biggest headlines this week
Based off anecdotal accounts, the property industry is gearing up for a strong spring season: Here are the biggest property stories from this week.

Hot Property: Biggest headlines this week
Based off anecdotal accounts, the property industry is gearing up for a strong spring season: 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 REIV has argued that the government hasn’t taken time to understand the impact of a “complete lockdown” of the property market on ordinary Victorians, noting requests to restart the market have been ignored.
“Mr Premier, I don’t think you understand,” the REIV’s statement begins. “The inability to buy/sell/lease property in Melbourne is creating enormous emotional and financial distress in the community.”
Foreign investment from China in Australian real estate has been quietly on the decline for several years, dropping significantly to $6.1 billion in 2018-19, writes David Hancock.
The decline is attributable to: Chinese restrictions on money leaving the country, smaller Chinese student numbers, diplomatic tensions and a stronger Australian dollar. In addition, Australia tightened regulations, increased fees and taxes, and banks tightened lending to foreign investors.
Former banker-turned-real estate agent Jason Roach has most recently been aligned with Century 21, but said he was seeking “a premium, energetic brand that projects prosperity and success” for the next stage of his business expansion in his move across to The Agency Upper North Shore.
Despite falling migration levels, property prices might not be impacted as much as investors think.
InvestorKit’s head of research, Arjun Paliwal, has said that border closures are unlikely to broadly have an immediate impact on property prices, merely rents in the short term.
Westpac chief economist Bill Evans has revised his predictions, having previously expected a 10 per cent slump between April 2020 and June 2021, to a now 5 per cent correction through to late 2021.
The economist is now predicting short-term pain for property investors before a surge in value over the next two years.
The Domain Buyer Demand Indicator has revealed houses and apartments in the outer suburbs of Sydney, Melbourne, Brisbane and Perth were the highest demanded properties for those cities for the month up to 6 September.
Consumers are starting to adapt to the new norm, with working from home making living near the office less crucial in capital regions.
The “Financial Sector Reform (Hayne Royal Commission Response – Protecting Consumers) (Mortgage Brokers) Regulations 2020” build on the draft regulations released in August 2019 for public consultation which better explain how the regulations will operate.
Westpac has appointed Chris de Bruin as chief executive of its consumer division.
Mr de Bruin, currently CEO of Middle Eastern non-bank Deem, will join the big four bank in “early 2021” (subject to regulatory approvals).
Bridesmaid suburb opportunities don’t just exist in the cities. A buyer’s agent has recommended that investors go further afield than big regional centres to get the most bang for their buck, with Mudgee the perfect example.
The shutdown of international borders could cut demand for Australian housing by as much as 232,000 dwellings over the next three years, according to research.
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Property
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Property
New home sales continue to soar in March
A strong level of building activity is expected in 2021 and 2022, given a strong spike in home sales during the year to March. ...Read more

Property
HomeBuilder extension announced
One of the government’s most successful schemes, HomeBuilder, has been extended, bringing the total level of expected government support for the construction sector to $2.5 billion. ...Read more

Property
Policy failures see houses become unattainable for young Australians, minister says
Australia’s booming house prices are the result of the government’s failed policies, with the younger generation now unable to afford what their parents could, a minister has said. ...Read more

Property
House prices to grow by 25% over 3 years
New research is predicting a large gain in property prices of around 25 per cent through to the end of 2023, driven mainly by low interest rates. ...Read more

Property
Strict cap on short-term rentals delayed following criticism
Following widespread criticism from councils and online rental companies, the introduction of NSW’s planned holiday rental code of conduct has been pushed back by three months. ...Read more

Property
Melbourne becomes Australia’s 2nd most affordable rental market
While most capital cities saw house rents soar to new record highs over the first quarter of 2021, Melbourne continued to lag behind – becoming the second most affordable capital city to rent in Aus...Read more

Property
Why home buyers are now more open to high-priced properties
Buyers are more likely to spend more to secure a property as their preferences shift towards bigger spaces with higher price tags, recent data has shown. ...Read more

Property
Government brushes aside RBA’s debt blowout warning
The government said it is not concerned about the RBA’s warning that the financial system could be rocked if there’s a debt blowout, in fact it is “very pleased” that confidence levels are lea...Read more