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The cash rate remains the same, while a new prediction has the property market slowing sooner than previously anticipated: Here are the biggest property stories this week.
To compile this list, we consider the week’s most-read stories and the news that matters to you, and include stories that also have an impact on how you go about your business from our sister brands in the property space.
1. RBA reveals final cash rate decision for FY21
The Reserve Bank of Australia has made its decision on the cash rate for June 2021.
Agents need to remember that potential buyers and sellers are people, too — and ensure they have the skills to manage expectations accordingly, a leading industry figure has warned.
3. ‘Ludicrous’: Greens’ rental reform attempt blasted
The Real Estate Institute of Queensland has hit back at a parliamentary proposal that would cap rental increases to once every 24 months, scrap “no grounds” evictions, ban rental bidding and restrict lessors’ rights to end tenancies.
4. Exclusive: Major banks reveal how they’re fixing turnarounds
Following on from concessions that broker-lodged loans take a lot longer to approve than those in the proprietary channel, the big four banks have told sister brand The Adviser what they are doing about it.
5. Perth’s property market is approaching a new all-time high
While the overall Perth median house sale price in March 2021 failed to eclipse the market’s 2014 peak, parts of the region have reached historic highs.
6. Downhill from here: Property price growth to drop from 2022
With the worst of the pandemic seemingly behind us, bankers are now predicting 15 per cent price growth for Australia’s housing market this year, before macro-prudential measures dramatically slow growth early next year.
7. Achieving profitability through property management alone
Here’s how this principal director holds 600 properties on its books — with zero staff turnover in the business and a profit margin of 23 to 26 per cent.
8. AFG to invest $15m in neobank
The aggregation group has agreed to invest $15 million in a neobank, leveraging its banking as a service offering and white labelling a personal finance manager app to AFG customers.
9. Australia’s most affordable and liveable suburbs revealed
The most affordable and liveable suburbs across four of Australia’s major cities have been revealed.
10. 86 400 launches direct offering
The neobank has launched its inaugural direct-to-consumer offering, making its Neat and Own home loans available to consumers via their phone, tablet or computer, as well as via brokers.
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