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Scott Morrison’s support from the real estate and mortgage industries fluctuates, the market hits a wall, and banks make further forecasts regarding a rate rise: 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:
1. Mortgage lending industry favours Liberal-National election win
The mortgage and finance lending industry thinks that a Liberal-National Coalition led by Scott Morrison is the preferred outcome of the federal election, according to a new survey.
2. ScoMo’s support from real estate sector wanes
The Prime Minister’s popularity with the real estate sector appears to have taken a dive, shifting 11 per cent in a new poll of the industry.
3. Borrowers unable to get finance amid tradie shortage
An NSW North Coast broker has raised concerns many clients in flood-impacted areas are unable to get finance due to a shortage in tradespeople.
4. Australian property market: ‘Finally hit the wall’
Home loan activity declined sharply over February, driven by the significant falls in affordability as a consequence of booming house prices.
5. Meet the new brand doing away with ‘plug and play’
Another new real estate offering has popped up in Sydney, with its founder looking to fill what he sees as a gap within the profession.
6. Price drops set for 2023: NAB
The bank has doubled down on its prediction that house prices will decline by 10 per cent in 2023.
7. RBA will hike by 40 bps in June: Westpac
The central bank may hike rates substantially in June to combat rapidly rising inflation, the major bank has said in a new cash rate forecast revision.
8. Property market update: Melbourne, March 2022
The autumn season didn’t bring just a chill in the air, but to Melbourne’s property market too – as the city’s dwelling values fell in March.
9. Housing supply, tax reforms urged ahead of election
A Sydney-focused think tank has called for the federal government to roll out a “real long-term strategy” to make housing more affordable.
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