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The federal budget lands, a crackdown on rental bidding, and how Australia’s property markets are tracking.
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:
1. Budget 2023: What’s in it for housing?
The Albanese government has delivered its first full-year budget since winning last year’s election. Here, we give a run down of how the spending will impact the nation’s housing market.
2. Minns cracks down on rental bidding
NSW Premier Chris Minns is set to introduce rental reforms that aim to stamp out the practice of rental bidding in an effort to improve prospects for the state’s renters.
3. A state-by-state insight into Australia’s property markets (post-rate hikes)
Which markets are still reeling and which are rebounding from the downturn? Seven experts from Property Investment Professionals of Australia (PIPA) unpack what’s happening in each state or territory to glean what investors can expect in the coming months.
4. RBA forecasts suggest 3.85% is the peak
The central bank’s updated forecasts signal the cash rate has hit its peak, economists reveal.
5. Broker heads tentatively welcome no-frills budget
While the government’s “cost-of-living” budget has been welcomed, members of the mortgage broking industry have suggested more could have been done to improve housing supply.
6. 9 tips for bringing a property development back from the brink
The property and construction industry is facing a rising trend of developments collapsing, but an industry expert said there are effective strategies to turn around troubled projects.
7. To run a successful business, plan for succession
Succession planning is often overlooked when business owners are devising their strategy for success. It can feel antithetical to the goal of building a strong company to simultaneously plan for its end — or the end of your role within it.
8. Economists warn federal budget shows cracks
Economists warn while the 2023–24 Budget forecasts show inflation easing, it may not be enough to halt rising rates.
9. Construction loan demand falls to new low
The number of owner-occupiers taking out loans to build a home has fallen to record-low levels, new data has revealed.
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