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ISCOVER
The weekly round-up of the biggest news stories from across Momentum Media’s property brands from the week ending 8 September.
Welcome back to The Adviser’s weekly round-up of headline stories and news that are important not only for the real estate sector but also for the state of Australian property more broadly.
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 stories of the week:
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Another welcomed cash rate hold as Lowe departs
For the third consecutive month, the Reserve Bank of Australia (RBA) decided to hold the official cash rate at 4.10 per cent. The central bank’s September cash rate decision also marked the final one delivered by governor Philip Lowe, whose seven-year tenure concludes next week.
Housing affordability at a 30-year low: PropTrack
Research from the property experts concluded that a cocktail of surging prices throughout the COVID-19 pandemic and the RBA’s rate hiking cycle of the last year has created a housing affordability crisis unlike any other.
Over half of home owners renovating instead of selling: Aussie
Affordability constraints has resulted in many Aussies renovating, rather than selling, their home.
‘Unlikely bedfellows’ call for Sydney housing reform
A new alliance, called Housing Now!, aiming the shake up the property conversation has formed. The group, which brings together several significant organisations and think tanks, is highlighting issues trickling into the health, education, and business sectors are a result of the city’s housing shortage.
Email tirade to former tenants lands agent with 8-month ban
A friendly reminder to watch what you say.
Short-term v long-term rentals: Which offers better returns?
The numbers have been crunched and the results are in, but who comes out on top in the battle of the tenancy lengths? The new kids on the block, short-term rentals, or the seasoned professional, long-term rentals.
How will the market respond to 3 successive cash rate holds?
Keeping with the cash rate theme of this week’s piece, could the Reserve Bank’s latest decision inspire a market recovery? Or is it too early and are interest rates still too high for such a prediction to even be considered?
STRA uptake soars as wider housing market struggles
Short-term rental accommodation has become the new scapegoat for Australia’s property market woes. But new research from the Real Estate Institute of Australia (REIA) suggests this lambasting may be warranted – with STRA uptake increasing astronomically over the past 12 months.
[RELATED: Hot Property: The biggest property headlines from week from week 28 August-1 September]
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