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The biggest real estate news – the week ending 7 July 2024

By Staff Reporter
05 July 2024 | 11 minute read
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New rental laws, a former agent resentenced, and a brand new board for McGrath.

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:

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  1. SA’s new rental laws are now in effect

The most significant reforms to South Australia’s residential tenancy laws in decades come into play on 1 July.

  1. Substandard agent training flagged as significant industry risk

With the Australian Skills Quality Authority carefully monitoring training practices in the real estate sector after flagging concerns last year, an industry body is urging agencies to take action to ensure their business is protected.

  1. Jailed former agent resentenced to home detention for trust account abuse

The former Sydney agent was found to have misappropriated $605,000 from a real estate company’s trust account between 1 January 2014 and 5 September 2014.

  1. Engineered stone is now banned: What property owners need to know

A nationwide ban on engineered stone has now come into effect. If you have a contract to have the material installed, or it’s already present in your property, make sure you’re following the new rules.

  1. McGrath debuts new board following acquisition

With the deal for Knight Frank and Bayleys to acquire a controlling stake of the real estate network now complete, the firm has provided insight into how things will run going forward.

  1. RBA steadfast in inflation forecast despite upside risks

The central bank has maintained its resolve that inflation would reach its target within a reasonable time frame, the minutes have revealed.

  1. Dwelling approvals up but still ‘well below target’

The number of homes approved to be built saw an uptick in the month of May – a good sign for our housing and construction landscape.

  1. Miles government pledges to review property taxes

Queensland’s Miles government will review property taxes and charges if it wins the state election, according to the Deputy Premier.

  1. Fines on landlords put forward as a measure to reduce bond disputes

New research shows that over a third of bond claims don’t hold up under pressure. Should there be penalties on landlords for lodging them?

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