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The weekly round-up of the biggest news stories from across Momentum Media’s property titles for the week ending 6 November.
We hope it helps inform you of the biggest issues shaping the mortgage and property markets.
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The founder and chairman of mortgage brokerage Aussie, John Symond, has announced his retirement.
The 73-year-old founder and chairman of Aussie, John Symond, is to retire from the company after starting it up nearly 30 years ago.
RBA announces November cash rate decision
The Reserve Bank of Australia (RBA) has cut the official cash rate from 0.25 per cent to a new record low of 0.10 per cent and moved to broad quantitative easing.
The move marks the first time that the RBA has cut rates by less than 25 basis points.
$20m in 2 weeks: How this St Kilda agent did it
The lifting of the 112-day lockdown has seen St Kilda’s Sam Hobbs sell five homes in the last 14 days – totalling $20,275,000 – which he has attributed to people reconsidering their lifestyles post-lockdown.
0.1% cash rate a real ‘shot in the arm’
The dropping of an already record-low cash rate has been well received by the real estate industry for its support of Australian property markets.
‘The right mix and the right people’: How this agent has avoided staff turnover
One of Australia’s top real estate agents has highlighted the benefits of supporting his employees, stating that staff retainment over the last five years has allowed his business to reach new heights.
Migrants, expats to drive demand in Aussie property market
According to a recent report by McGrath Estate Agents, millions of migrants consider Australia their “lucky country”, attracted by its scenic and wide-open spaces, energetic economic growth, stable democracy, world-class educational opportunities, clean air and laidback lifestyle.
“Expats are already returning home and migrants are expected to follow once the international border reopens.”
Regional Australia becomes new hotspot amid pandemic
Before the pandemic, Australians were already shifting to regional areas, primarily due to cheaper housing, McGrath found.
The median dwelling value for the combined regional areas was $397,791 in September 2020, 37.4 per cent lower than the combined capital city median of $635,196.
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 week 26-30 October]
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