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The weekly round-up of the biggest news stories from across Momentum Media’s property brands from the week ending 22 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 matters 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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Immigration needs to be lower to improve affordability: Shane Oliver
Affordable housing has seemingly grown more and more unattainable in recent years, and in the belief of one of Australia’s most prominent economists, the nation is yet to have a tough conversation about the impacts of booming migration.
‘Opposing forces’ to face housing market: NAB
A tide of household adjustments of higher interest rates and strong demand from rising population are set to swirl in Australia’s housing market moving forward, according to a new report from one of the country’s leading banks.
NSW budget targets long-term solutions to current housing woes
State Premier Chris Minns stated the budget, which committed $2.2 billion towards the state’s housing sector, “provides the backbone infrastructure so that more homes can be delivered.” The budget also stipulated that 30 per cent of new housing is allocated for affordable housing.
Industry partnership central to Victorian housing ‘shake-up’
Dubbed “the biggest shake-up to planning and housing reform in generations,” by State Premier Dan Andrews, the Victorian government’s recently announced Housing Statement – The Decade Ahead 2024–2034 outlines key, long-term property plans to boost supply and protect renters’ rights.
:Different finds an agency home
New home, same :Different? After appointing administrators back in June, the company found a new home for its operations this week.
Victoria to introduce short-stay levy
As part of the state government’s aforementioned housing shake-up, Victorian short-term rental operators will be charged a percentage of their annual revenue from the beginning of 2025, with the funds raised set to be reinvested to the benefit of the wider housing market.
Unit shortage looms as demand soars: CoreLogic
Medium- to high-density development is viewed as a potential bandaid for Australia’s housing crisis, providing relief and stock at a time when low-density development and land release are scarce. But is construction matching demand?
[RELATED: Hot Property: The biggest property headlines from week 11-15 September]
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