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The real estate industry responds to flooding across Queensland and NSW, a documented slowdown in home value growth, and former treasurer Peter Costello weighs in on a potential housing correction: here are the biggest property and real estate stories from the past week.
Welcome to REB’s weekly round-up of the headline stories and news that are important not only for the real estate sector but also for the state of property in Australia more broadly.
To compile this list, not only do we consider the week’s most-read stories and the news that matter to you, but we curate it to include stories from our sister brands that also have an impact on the Australian property landscape.
Here are the biggest property stories of the week:
Federal government offers grants, as ‘flooding disaster’ escalates
The federal government has announced financial support is available for flood-impacted victims, as major flooding continues in South-East Queensland and the NSW North Coast.
Flooding decimates property across NSW and Qld – how it’s unfolding
South-East Queensland and northern NSW have been decimated over the past two weeks by a “rain-bomb” event that has caused record flooding throughout the region.
Flood crisis to put further strain on Qld’s rental market: REIQ
As floods continue to grip parts of Queensland, the state’s peak real estate body warned that the crisis would add pressure on the region’s already strained rental market.
Housing value growth loses steam
After almost two years of significant housing value growth, every capital city and broad “rest of state” region is trending downwards, according to the latest data.
Correction in housing expected: Former treasurer Peter Costello
A “correction” in the housing market could be on the cards as interest rates lift, the former federal treasurer Peter Costello has suggested.
RBA reveals March rate decision
The Reserve Bank has revealed its latest cash rate call, as the majority of mortgage brokers have tipped there will be an uptick by the end of 2022.
Renters under record levels of stress while mortgage worries decrease
While stress over being able to make mortgage payments has lessened over the past year in Australia, rent stress has ballooned, according to new research.
Investor lending hits new records in January
New loan commitments continued to rise over January – reaching $33 billion – driven by investor lending, the latest data reveals.
500 Victorians buy homes under shared equity scheme
The Victorian Homebuyer Fund has approved more than $75 million in shared equity funding during its first four months, with 500 residents now settled in new properties.
[Related: Hot Property: The biggest property headlines from the week 21-25 February]
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