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New rental laws in Queensland limit price increases, a major bank updates its rate forecast, and Australia’s median house price continues to climb past the $1 million marker.
Welcome to REB’s weekly round-up of headline stories that are important to both the real estate sector and the state of the Australian property market.
To compile this list, we consider the week’s most-read stories and the news that matters to you, collating your need-to-know property report from across our site and sister brands. Here are the biggest stories of the week:
1. Qld’s new rental laws are now in effect
Price hike restrictions, domestic violence provisions, and mandatory training for agents are just some of the changes that have now kicked in.
2. Major bank shifts rate call
The major bank has cited “several factors” contributing to the change of its cash rate call.
3. Australia’s median house price is up 7.6% YOY
Australia’s median house price is now $1.026 million, according to the latest data from the Real Estate Institute of Australia.
4. Inspection provider kicks off major rebrand
Before You Bid has rebranded under a new name, signalling the start of a new era for the company.
5. Perth property listings down 41.5% YOY: REIWA
As supply has continued to undercut demand, the amount of properties listed for sale has plummeted in Perth, according to the institute.
6. Why Millennials are driving the rentvesting trend
One in five first home buyers are purchasing property to rent out, not to live in. What’s behind the meteoric rise of young investors?
7. Does Qld’s stamp duty reform go far enough?
The threshold for the state’s first home owner concession on transfer duty has been raised, alongside land tax and transfer duty surcharges for foreign investors, as Queensland looks to combat affordability challenges.
8. SA stamp duty abolition could drive up house prices: Brokers
South Australian brokers have expressed concern over the abolition of stamp duty for FHBs, fearing that the policy could further increase house prices.
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