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Lockdowns plague the eastern states as the RBA rules again on the cash rate, ATO tax warnings, and a surge in lending: 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. RBA rules on August cash rate
The Reserve Bank of Australia (RBA) has revealed its decision on the August 2021 cash rate, as governments grapple to minimise the economic fallout caused by the COVID-19 Delta strain.
Australia’s tax collector says it is ready and willing to apply extra scrutiny to the tax returns of those with an investment property if need be.
3. Selling properties in 3 Saturdays
One of Australia’s top agents has revealed her new selling strategy that’s revolutionised her ability to achieve greater turnover, without sacrificing client service.
4. Owner-occupied lending surges by $13bn: APRA
There has been sustained robust growth in home lending driven by strong owner-occupied lending and faster growth in investor housing, according to data.
5. 3 things agents should do before the boom burns out
Real estate trainer Tom Panos has highlighted three ways agents can better prepare for an eventual downturn to the market — especially for those agents currently hampered by lockdown restrictions.
6. ANZ, Westpac flag branch closures
Two more major banks have signalled both permanent and partial closures in their branch networks.
7. More clients look to lock fixed rates than 2020
More borrowers are eager to lock in fixed interest rates than this time last year amid record-low interest rates, according to HashChing.
8. McGrath names new Victorian state manager
A “progressive and respectful” application process has led to the appointment of a new Victoria state manager at the network, as the group looks to achieve growth across the state.
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