Looking back at REB’s biggest headlines in 2020

Without looking back on the year that was, it’s so easy to forget just how far we have all come this year, and the hurdles we have all faced.

Here are the stories that you, as REB’s valued readers, have considered the most important news and current affairs stories over the course of 2020.

10. 2 CEOs to spearhead merged entity

Coming in at number 10 this year is a relatively recent article entrant. This story broke the news of an operational merger between two groups which were already sharing a brand name.

Di Jones Real Estate revealed it had finalised an operational merger of the Ward and Mackie groups, in a new and streamlined operation under the helm of two CEOS: Rob Ward and Dan Mackie.

9. 13 unlicensed advice warnings issued to agents

In the early days of the pandemic, the federal government offered up a number of policy measures in a bid to lessen the economic impact of COVID-19. One of these was the early access to super scheme, while another was a collective national moratorium on evictions, spearheaded by the states.

Both of these would go on to attract a large amount of scrutiny and commentary as to their effectiveness.

Approximately four months after the seriousness of the pandemic really hit home on Australian shores, ASIC revealed it had followed up on 124 reports of real estate agents who had advised tenants to apply for the early release of super scheme — which was allowing withdrawals of up to $10,000 — to pay their rent.

8. McGrath CEO resigns, successor appointed

This announcement was made following the release of a “turnaround” FY2020 from the real estate group — even with the last four months of the financial year marred by COVID-19.

At the time, outgoing CEO Geoff Lucas said he was pleased to have led the McGrath team “through a period of regenerating the McGrath business”. 

7. PM bans public auctions, open house inspections in latest crackdown

In one of the biggest signs to date that everyday life would look differently in a pandemic environment, Prime Minister Scott Morrison issued a crackdown back on 24 March 2020 on public auctions and open house inspections, effective midnight on Wednesday, 25 March 2020.

Not only did the order restrict auctions and inspections, hereby heralding in a new era for proptech, but Mr Morrison’s address encouraged Australians to stay home “unless absolutely necessary”.

6. ASIC issues warning to agents providing unlicensed financial advice

Not even a week prior to this news story, Scott Morrison had revealed Australians suffering financial hardship would be granted early access to super.

While the scheme did prove popular, it did attract criticism for its potential mistreatment.

Early on, Tim Mullaly, ASIC executive director – financial service enforcement, issued a letter to the real estate institutes in each state, warning that some real estate agents were advising tenants to apply for early release of their superannuation for the purpose of paying rent.

5. ‘Overwhelmed and confused’: Industry reacts to ‘straightforward’ rent pause

An address from the Prime Minister alluded to an eviction moratorium being put in place nationwide — but the announcement raised plenty more questions for landlords, tenants and property managers than it answered.

With the benefit of hindsight, a majority of affected individuals were able to work together and achieve suitable outcomes, but at this point, there are still plenty of case studies that illustrate the rent pause was not nearly as “straightforward” as was promised.

The latest such example? An announcement that Victoria would continue its commercial tenancy relief — without any actual information as to how this will actually operate.

4. JobKeeper’s fatal flaw could hurt real estate the most

Early on in April, Better Homes and Gardens Real Estate Crows Nest principal Lloyd Allen flagged the issue of real estate agents struggling to access the JobKeeper stimulus scheme due to the nature of real estate commission and settlement periods.

It’s a story that looks a lot different at the end of 2020 than it did at the time, when so much uncertainty was at play.

3. Government approves of rent relief mandatory code

It’s pretty clear that 2020 brought with it unprecedented circumstances and rental concerns (judging by the popularity of articles regarding rental relief this year!).

The rent relief code provided some insight and clarity into how property managers, businesses and individuals would move forward regarding rental agreements.

But, for better or for worse, it still brought together a reliance on “good-faith leasing principles”.

2. Stage 4 sees Melbourne real estate closures

Just when the urgency and critical nature of the COVID-19 pandemic appeared to diminish and leave Australia relatively unscathed, an uncontrolled cluster wreaked havoc on metropolitan Melbourne.

Reaching a level of restrictions to that point unseen in Australia, under stage 4 “stay at home” restrictions, the Victorian government had indicated that “the default is that workplaces in metropolitan Melbourne are closed”.

1. Airbnb declared illegal in NSW

The most-read story on REB this year, there reached a point in time when the New South Wales government went one step further than Scott Morrison’s encouragement to stay home, and implemented a number of public health orders to require it.

Under new regulations, Airbnb and other short-stay accommodation options were declared illegal, with the government reminding residents of the need to stay home.

“There’s zero reason for someone to stay in an Airbnb,” said a spokesperson for the Minister for Better Regulation and Innovation Kevin Anderson at the time. “It’s illegal to have any guests whatsoever.”