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COVID-19 restrictions to continue, a reinstatement of the NSW eviction moratorium, and an increase in the number of properties that is cheaper to buy than to rent: 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. Eviction moratorium reinstated
A 60-day moratorium on evictions has been announced in New South Wales, as landlords are once again incentivised to reduce the burden on COVID-19-affected tenants.
2. Ex-Mortgage Choice executive to take on Sydney auctions
A former franchise recruiter is taking on the auction space, revealing a brand-new business venture.
3. NSW releases COVID-19 support for SMEs and individuals
The NSW and federal governments have launched expanded support for businesses and workers affected by extended lockdowns.
4. Luxe Listings Sydney gears up for season 2
Fresh off the launch of Luxe Listings Sydney worldwide last Friday, Gavin Rubinstein, D’Leanne Lewis and Simon Cohen have already revealed they’ll be going for a second spin.
5. TechLend launches new ‘BNPL’ bridging loans
A broker and an ex-lender strategy head have teamed up to launch a digital non-bank, rolling out an interest-free bridging loan product.
6. Perth’s top 10 fastest-growing suburbs revealed
The Western Australian capital now boasts 10 suburbs where median price growth exceeded 25 per cent in 2020.
7. More dwellings cheaper to buy than rent post-COVID
It is now cheaper to service a mortgage than pay rent on a larger proportion of properties compared with pre-COVID-19 crisis, according to new research.
8. Certificates of title on their way out: Abolition date announced
New legislation that will enable 100 per cent electronic lodgement of land transactions in New South Wales will kick in on 11 October 2021.
9. Young renters cry out against ‘lack of respect’ in rental market
Young Australians have expressed dismay over the perceived discrimination within the rental market as the wealth divide forces them into long-term renting.
10. The standout performers of Brisbane’s real estate market revealed
Brisbane has seen a swift recovery from the pandemic, with sellers and buyers said to have whiplash as property prices continue to outdo themselves month-on-month.
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