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Between the US election, an RBA rate cut and the race that stops the nation, last week was a huge week for headlines: Here are the biggest property stories from the week.
Welcome to REB’s weekly round-up of the headline stories and news that’s important not only for the real estate sector, but also for the state of property in Australia more broadly.
To compile this list, not only are we taking a look at the week’s most read stories and the news that matters to you, but we are also curating it to include stories from our sister brands that could have an impact on the Australian property landscape.
1. RBA reveals race day rate decision
Following an out-of-cycle rate reduction in March, the RBA has followed market consensus and reduced the official cash rate to 0.10 of a percentage point from the already record-low 0.25 of a percentage point.
2. $20m in 2 weeks: How this St Kilda agent did it
The lifting of the 112-day lockdown has seen St Kilda’s Sam Hobbs sell five homes in the last 14 days — totalling $20,275,000 — which he has attributed to people reconsidering their lifestyles post-lockdown.
3. 0.1% cash rate a real ‘shot in the arm’
The dropping of an already historically low cash rate has been well received by the real estate industry for its support of Australian property markets.
See also: What would a Melbourne Cup rate cut mean for real estate?
4. ‘The right mix and the right people’: How this agent avoids staff turnover
One of Australia’s top real estate agents has highlighted the benefits of supporting his employees, stating that staff retainment over the last five years has allowed his business to reach new heights.
5. Migrants, expats to drive demand in Aussie property market
According to a recent report by McGrath Estate Agents, millions of migrants consider Australia their “lucky country”, attracted by its scenic and wide open spaces, energetic economic growth, stable democracy, world-class educational opportunities, clean air and laidback lifestyle.
“Expats are already returning home and migrants are expected to follow once the international border reopens.”
6. Regional Australia becomes new hotspot amid pandemic
Before the pandemic, Australians were already shifting to regional areas, primarily due to cheaper housing, McGrath found.
The median dwelling value for the combined regional areas was $397,791 in September 2020, 37.4 per cent lower than the combined capital city median of $635,196.
The founder and chairman of mortgage brokerage Aussie, John Symond, has announced his retirement.
The 73-year-old founder and chairman of Aussie is to retire from the company after starting it up nearly 30 years ago.
8. 500 listing leads in 10 days: How this network did it
Despite 2020 being a turbulent year, a highly targeted marketing campaign has led one Australian network to score 500 listing leads in less than two weeks.
9. Veteran trio spearhead new Noosa agency
With almost half a century of experience between them, three local agents have decided to take on a new challenge: establishing a boutique agency of their own.
The brainchild of Nathan Howie, Scott Cowley and Kelsie Melville, Noosa Estate Agents is the newest offering in Queensland’s popular coastal town.
10. Pet rules relaxed under new laws for ACT units
Unit owners across the Australian Capital Territory are set to benefit from better governance and fairer rules with the recent amendment of pet rules and other strata legislation.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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