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The weekly round-up of the biggest news stories from across Momentum Media’s property titles for the week ending 9 October.
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.
Several measures impacting home buyers and small businesses have been announced as part of the government’s plan to “recover from the COVID-19 recession and to build our economy for the future”.
Aggregator heads welcome budget 2020-21
The heads of several leading aggregation groups have welcomed the budget 2020-21 but noted the “gut-wrenching” size of the deficit.
Lenders and property market largely welcome budget
Several players in the lending and property sectors have welcomed the federal budget for 2020-21, particularly the expansion of the instant asset write-off and First Home Loan Deposit Scheme.
RBA reveals cash rate decision ahead for October
The central bank’s board has announced its monetary policy decision amid speculation of a cut to the cash rate.
This week’s federal budget has been mostly well received by members of the real estate industry, who have applauded the measures taken to boost consumer confidence and kick-start property activity.
In what’s a far cry from the large drops seen in the property market just six months ago, a property researcher believes parts of Australia will see a boom by Christmas, growing as much as 20 per cent over the next 12 months. Data released by CoreLogic has shown house prices have fallen nationally over September, but rose everywhere except the big markets of Sydney and Melbourne.
According to Alex Fitzgerald, acquisitions manager for property investment company Custodian, there are massive incentives on offer for first-time property investors: “The financial incentives on offer at the moment for first-time buyers are huge,” she said.
“In some states, when you pool the state government and federal government concessions together and take into account the reduced stamp duty, you can access up to $45,000 or $50,000.
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.
[Related: Hot Property: The biggest property headlines from the past week]
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