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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 6 October.
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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Majority of borrowers can’t handle another rate rise: Canstar
Even if the RBA’s October decision adds further merit to the argument we’ve reached our cash rate peak, Canstar revealed that, should the central bank move to increase the cash rate again, a majority of borrowers would struggle financially.
Mortgage stress risk continues to rise: Roy Morgan
Just because the fixed-rate cliff has seemingly failed to materialise doesn’t mean it’s all sunshine and rainbows for Australian borrowers.
Fixed rate cliff ‘so far failed to materialise’: PEXA
At the back end of last year and the beginning of this year when the RBA’s cash rate hiking cycle seemed never-ending, fears about a potential fixed-rate cliff occurring in the final half of the year. But new data from PEXA suggests this reality is hardly playing out.
Reprieve of rise? RBA hands down anticipated October cash rate decision
For the first time in the post-Philip Lowe era, Australia’s central bank conducted its monthly board meeting. With recent Consumer Price Index (CPI) data indicating inflation was on the rise again, even if slightly, many borrowers waited with bated breath for the board’s decision.
RBA enacts 5th hold for 2023, but are we in the clear?
Following the board’s decision to hold the cash rate for the fourth consecutive month, many industry heavyweights offered commentary on the RBA’s October decision and used data to paint the picture of the cash rate’s potential future.
Home values record September surge
The sustained value growth momentum experienced in the Australian housing markets in recent months continued in September, with two key research firms, CoreLogic and PropTrack, indicating many markets have either fully or nearly recouped the losses they incurred during last year’s downswing.
Industry partnership ‘set on fire’ over Victoria’s vacant property tax
Victoria’s government is extending its vacant residential land tax! And people aren’t happy about it.
70k new homes needed to rebalance the rental market: Domain
Australia’s rental crisis is the worst kept secret in the country. And new data from a leading property player has put a number on the number of properties needed to help ease the rental crisis.
[RELATED: Hot Property: The biggest property headlines from week 25–29 September]
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