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A new financial year, “business as usual” for a Bowral business, and why the end of the property boom shouldn’t spell doom for agents: 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. A new financial year, another cash rate call
The Reserve Bank of Australia has revealed its first cash rate decision of the 2021–22 financial year.
2. Business as usual for Bowral agency gutted by flames
The owners of a Bowral real estate agency have been left reeling after a fire ripped through their office space and that of several other local businesses.
3. ‘Responsible lending’ issues among top consumer complaints
Credit cards and home loan issues were the most complained about products in financial year 2021, with responsible lending issues frequently cited, according to AFCA.
4. Perth’s property market sizzles despite ‘winter slowdown’
Despite the typical winter slowdown, Perth reported plenty of property hotspot activity in June.
5. Why an end to the property boom isn’t all doom and gloom for agents
There’s no doubt the market is going to correct at some point, but it’s not something that good agents should fear, according to John McGrath.
6. Treasury launches consultation on giving brokers CDR data
Stakeholders have until 30 July to respond to a consultation on new rules that will allow consumers to share their open banking data with mortgage brokers.
7. Banks explain lagging turnarounds to Parliament
Big four and non-major banks have given their reasons for delayed turnarounds for the broker channel, which vary from technology to regulation and loan complexity.
8. News Corp director makes network move
LJ Hooker has found itself a new South Australia state manager.
9. Why 2021 is still a good year to start your property journey
A booming property market shouldn’t intimidate first-time investors, but should encourage them to alter their goals, an expert has said.
10. Property investors may cop a hit this tax time, accountants warn
The past year has raised new tax issues for mum and dad property investors, with many expected to cop a hit this tax time.
