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The weekly round-up of the biggest news stories from across Momentum Media’s property brands from the week ending 6 October.
To compile this list, not only do we consider the week’s most-read stories and the news that matter 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 property stories of the week:
1. MFAA sets out 8 recommendations to Senate home ownership inquiry
The industry association has suggested government change financial regulation, simplify home ownership schemes, innovate the mortgage market innovation, and improve financial literacy to better support home buyers.
2. Household credit demand hits new record
A record $57.5 billion of credit was borrowed by households in the June quarter, new statistics from the ABS have revealed.
3. Help to Buy legislation set for parliamentary return
The Help to Buy legislation is set to be reintroduced to Parliament next week, raising the prospects of a double dissolution.
4. Over 1/3 of suburbs now have a median price point over $1m
Australia’s million-dollar club is the biggest it’s ever been, with a number of new suburbs recently added to the list.
5. Investors warned about ATO data matching ahead of tax deadline
The REIWA has issued a reminder that the Australian Taxation Office is using its data matching system to detect unreported income from property investors.
6. Holding off through headwinds, many home owners have now decided to sell
The flow of new listings coming onto the market this September was 8.8 per cent higher than the five-year average.
7. August building approvals stray further from housing targetWith building approvals dropping over the month, industry leaders are urging policymakers to implement decisive measures to boost housing supply.
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