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A call to get jabbed, COVID-19 makes its way to Byron Bay, the RBA indicates a focus on mortgages, while digital signatures are to stick around for a bit longer: 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.
1. Angus Raine leads vaccine call to arms
The Raine & Horne chairman has urged the real estate industry to get vaccinated.
2. Network adds 12 new offices through lockdown
Hard-hitting COVID-19 restrictions haven’t hindered one real estate brand’s ability to attract new offices across Sydney, Newcastle and the Hunter Region.
3. Byron Bay saga could result in real estate crackdown
Fresh concerns have arisen around the “loophole” that allows Sydneysiders to leave the city to inspect properties after it was reportedly the reason a COVID-19 positive man travelled to the New South Wales North Coast.
4. Law passes to extend digital signature usage
The government has passed legislation enabling digital signatures to be used on documents until 31 March 2022, with plans to introduce permanent reforms later this year.
5. REIV pens letter to the Premier
Ahead of a potential extension to Victoria’s latest lockdown, the REIV is again calling for change to restriction rules.
The major bank has entered into an agreement to buy Citigroup’s Australian consumer business for approximately $1.2 billion.
7. RBA watching lending for year ahead
The Reserve Bank and fellow watchdog APRA are preparing to arm themselves should lending standards deteriorate, with its governor saying he “couldn’t rule it out within the next year”.
8. Property investors locking in their gains while rental yields are ‘historically’ high
Data suggests that investors are moving to consolidate their profits while they can.
9. Brisbane property market update for July 2021
Brisbane is now officially going to be an Olympic City — how exciting is that!
10. Canberra lockdown: Real estate to shut up shop
According to a statement from the ACT Government, “this is by far the most serious public health risk the ACT has faced in the past 12 months, and that’s why the ACT is introducing a strict lockdown in response to this positive case.”
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