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The biggest real estate news – the week ending 25 August 2024

By Orana Durney-Benson
23 August 2024 | 5 minute read
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Trust account failures land agent in hot water, Perth suburbs see price boom, and cash rate fears resurface.

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 across our site and sister brands. Here are the biggest stories of the week:

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  1. Melbourne agent sent back to school for trust account failures

With its latest case, Consumer Affairs Victoria has sent a warning to the industry that audit reports can’t be ignored.

  1. Landlords asked to be lenient in lease terminations

Western Australia’s consumer affairs watchdog has urged landlords to take the current market dynamics into account when considering a tenant’s request to break a lease.

  1. 30 Perth suburbs break into ‘million-dollar club’

High demand and thriving population growth have dramatically pushed up Perth prices, with dozens of suburbs crossing the $1 million median mark over the past 12 months.

  1. Is the RBA growing impatient in its fight against inflation?

Minutes from the August monetary policy meeting have suggested the bank has a lower level of tolerance for stubborn inflation.

  1. How can agencies enforce the right to disconnect?

Research has proven that 78 per cent of employees are more likely to work for a business with a clear right to disconnect policy – but how can real estate agencies implement this change?

  1. NSW bill will clamp down on strata sector’s ‘bad players’

The proposal aims to “help restore confidence in living and investing in strata schemes”.

  1. Is the Great Australian Dream ‘dead’?

The Greens have claimed the Australian dream of home ownership “is dead” after new data suggests the top 10 Australian professions cannot repay a home loan without mortgage stress.

  1. How to sell a former church

From gin bars to offices, there are many ways to breathe new life into these historic buildings.

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