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Another cash rate hike, International Women’s Day, and Sydney’s “super prime” status.
Welcome back to REB’s weekly round-up of headline stories and news that are important not only for the real estate sector but also for the state of Australian property more broadly.
To compile this list, not only do we consider the week’s most-read stories and the news that matters most to you, but we also curate it to include stories from our sister brands that also have an impact on the Australian property landscape. Here are the biggest stories of the week:
Following February’s decision to enact a ninth consecutive cash rate increase, Australia’s central bank has made its latest monetary policy call.
In most real estate offices in the country, there is a meeting room with a large table in which regular Tuesday staff meetings are held. A nice lady from the team, let’s call her Linda, usually puts out a plate of lamingtons for everyone to enjoy, which they do. For Mike and Kenny, the lamingtons are the best part of the sales meetings and they look forward to the bakery haul each week. In job interviews, candidates are told about the excellent office culture they have and the sales meeting lamingtons that somehow make their high-performance team feel “just like a family”.
The news around property market movements in Brisbane, based on CoreLogic data, has suddenly become more positive due to a fast recovery in the rate of decline in dwelling prices throughout February.
The harbourside city has ranked among the most expensive housing markets in the world, beating other posh postcodes including Geneva and Paris.
Following this week’s rate hike, RBA governor Philip Lowe has warned that mortgage payments will reach a record high within a few months.
REB can reveal a Michael Coombs is teaming up with the former general manager of The Agency Victoria to take on the franchise rights and reins of Atlas Lower North Shore and Atlas Byron Bay.
Buyers that have been sitting on the sidelines are now jumping into the property market, according to the high-profile auctioneer.
The McGowan government recently announced a raft of housing schemes aimed at boosting supply and increasing choice within the state’s embattled property market.
Following its 10th consecutive interest rate hike, the Reserve Bank of Australia has hinted that the end could be near.
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