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The weekly round-up of the biggest news stories from across Momentum Media’s property titles from the past week.
Welcome to The Adviser’s weekly round-up of the stories that are getting big reads across Momentum Media’s property titles: The Adviser, Mortgage Business, Real Estate Business, Smart Property Investment and nestegg.
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We hope it helps inform you of the biggest issues shaping the mortgage and property markets.
Responsible lending axed: Who will win and who will lose?
On Friday, 25 September, the government revealed that it was peeling back responsible lending laws, in an effort to increase the flow of credit and promote economic recovery. Who might be better off as a result of the changes and who may struggle?
Aggregator heads to consult with government over credit changes
While the specifics of the revocation are yet to be formulated (though a fact sheet has been issued to provide further context), the government said it will consult publicly with stakeholders before finalising any legislation required to implement the reforms.
Citi predicts broking industry to thrive
According to the head of Australian banks research for Citi Research, Brendan Sproules, the Australian mortgage broking sector is set to grow and gain more market share, with the incoming best interests duty showcased as an additional benefit for the sector.
Are we nearing another property boom?
Wealthi investment director Stephanie Davies has highlighted how prices usually do recover by a large magnitude after a fall – particularly when interest rates are declining.
While it does depend on the velocity of the dip and other factors, Ms Davies said, “If we take a look at the property life cycle, we’ll notice that we usually see property prices return at a rapid speed due to the pent-up demand from buyers holding back for such a long period of time.”
Affordability and improving rental yields key drawcards in Perth appeal
New research by the Real Estate Institute of Western Australia has found that buyer activity in Perth is tracking 40 per cent higher annually. Further, the data shows that 45 per cent of Perth suburbs recorded price growth in August 2020, with local buyers agents noting high attendance at home opens.
‘We expected better’: REINSW puts state government on blast
The Real Estate Institute of NSW has lashed out over the NSW government’s decision to extend its rental moratorium. It’s calling for an urgent review of the state government’s decision to extend the rental moratorium, noting the “failure” to explain the rationale as a “critical concern”.
Raine & Horne expands Victorian network despite lockdown
Raine & Horne has launched the new office at Berwick, which is being headed up by real estate principal James Fernando, who joins the group from independent agency Xenith Real Estate, which he has operated since 2018 with the support of six sales agents and two property managers.
For more analysis and insight into these stories, tune in to Momentum Media’s new live talk show on Facebook, What’s Making Headlines, featuring Momentum Media’s executive editor - real estate, Phillip Tarrant, and business coach and Real Estate Gym trainer Tom Panos.
You can also catch up on the show via the What's Making Headlines podcast, which is released every Friday.
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