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Trust account issues hit the limelight as the government scrutinises high property prices: 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:
A new NSW Fair Trading crackdown has led to eight real estate agent licence cancellations, nine licence disqualifications, and almost $175,000 in penalties.
More than one-third of first-home buyers in Australia’s most expensive state are now aged in their twenties – and it’s overwhelmingly Greater Sydney they’re tapping into.
Debt-to-income ratio limits: do they help, or hinder? With the average property in Australian capital cities now over $700,000, limiting “high” DTI loans could put home ownership out of reach for many, as Annie Kane explores.
The doors will soon be opening on a brand-new Atlas by LJ Hooker.
Is it any wonder the new “disruptive” tech platforms for DIY property management are gaining traction when landlords are perpetually warned that real estate agents can, and do, dip into the trust account at will?
You can buy 3.5 properties in a Perth inner-city suburb for the cost of one property within 10 kilometres of Sydney’s most affordable inner-city suburb; it’s been revealed.
The Treasurer has met with regulators to discuss the housing market and consider whether “carefully targeted and timely adjustments” are required.
The weekly support payments will be phased out as states and territories reach 70 per cent and 80 per cent vaccination targets, the federal Treasurer has confirmed.
The average Aussie property seller is now pocketing $265,000 from the sale of a property.
Constructing an extra 50,000 homes a year over a decade could result in house prices and rents being up to 20 per cent lower, the Grattan Institute has estimated.
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