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A potential property royal commission, the continuing crackdown on NSW agents, and the capital cities among the world’s most liveable: Here are the biggest property stories this 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.
Here are this week’s biggest stories:
1. 4 Aussie cities make world’s ‘most liveable’ list
This year’s global liveability score has been strongly influenced by measures taken to stem the spread of COVID-19, with cities ranked according to how successfully they dealt with the pandemic. Perhaps unsurprisingly, New Zealand and Australia dominated the top 10.
2. Are we headed for a housing royal commission?
A new report is calling for a Royal Commission into Housing Future Australia, expressing the concern that Australia’s national household debt levels expose “a ticking economic time bomb”.
3. Business credit defaults up by 9%
CreditorWatch has suggested that Australia’s economic recovery has lost some momentum, as it has tracked a 9 per cent increase in credit defaults across businesses.
4. Brokerage head calls out ‘unacceptable’ turnaround delays
It is “unacceptable” that turnaround times in branches can be measured in hours yet brokers are “waiting weeks”, according to the managing director of a mortgage broking franchise.
5. Has hustling lost its cool?
Glorifying agents who work hard and play hard is a thing of the past, according to a leading real estate trainer.
6. 5 tax-time tips for property investors
A tax-time mistake can be a costly one for Australian property investors, so here are some tips to help you navigate the devil in the details.
7. Dodgy agent crackdown continues
NSW Fair Trading has revealed it is continuing its blitz on the real estate profession, with fines of up to $22,000 on the cards.
8. Lendi lays out post-merger strategy
Having wrapped its first month post-merger with Aussie, Lendi’s chief has given some insight into the company’s plans for the coming years.
9. Teachers Mutual halves home loan products
Teachers Mutual has unveiled a new streamlined home loan portfolio, slashing its previous six offerings down to three products.
10. How agents can prepare for the next downturn
With the boom cycle expected to end eventually, a CEO is urging agents to strengthen their businesses now — while “the sun is still shining”.
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