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The weekly round-up of the biggest news stories from across Momentum Media’s property titles for the week ended 14 May.
Welcome to The Adviser’s weekly round-up of the headline stories and news that are important not only for the real estate sector, but also for the state of property in Australia more broadly.
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To compile this list, not only do we consider the week’s most-read stories and the news that matters to you, but we curate it to include stories from our sister brands that also have an impact on the Australian property landscape.
The federal budget for 2021-22 has been handed down, outlining a range of steps to support home ownership and help small businesses recover from the coronavirus pandemic.
Government announces new home ownership scheme
Three measures targeting home ownership, including a new Family Home Guarantee, will form part of the federal government’s budget.
Broking industry reaction to the budget
Several members of the broking industry have welcomed the federal budget’s measures for home ownership, but some have noted that they will not curb the pace of house price growth.
Australian housing now worth over $8 trillion
Residential real estate in Australia is now worth more than $8 trillion, four times the size of the country’s GDP, following a surge in values.
NSW mortgage registrations at record March high
Newly originated mortgages and refinance volumes in NSW reached a two-year high in March, while it marked the strongest March for mortgage registrations on title.
Gen Z eyes apartments as cheaper option
A survey by Commonwealth Bank of Australia subsidiary Bankwest has found that 28 per cent of Gen Z would prefer an apartment if they were to purchase property immediately, almost double the national average of 15 per cent.
Auction market sees second-busiest week in 2021
Over 3,000 homes went under the hammer last week, but the higher auctions volume saw the preliminary clearance rate dip below 80 per cent, data has shown.
Victorian group adds 10 offices to ranks
Jellis Craig revealed that it’s joining forces with the Greg Hocking real estate group, with a statement outlining that “the joining of the two companies will see the combined group’s coverage extend to 37 strategic locations in metro Melbourne and Victoria’s premium lifestyle areas”.
Network plans to put Concord on the ‘real estate map’
Belle Property has expanded its Sydney reach with the opening of a new office in Concord – a suburb the brand sees as one of the city’s fastest-growing areas.
What will it take for the bank to lift the rates – and how will it impact property investors?
UBS has added its voice to the chorus of commentators warning that the Reserve Bank of Australia could be forced to lift rates prematurely in the face of a stronger than expected recovery.
Home loan assistance package for single parents announced
The federal government has announced a new scheme targeted at helping single parents with limited deposits into the housing market. The program, to be known as the Family Home Guarantee, will bring the deposit amount single parents need to save to approximately $8,000. The remaining 18 per cent will be backed by the Australian government.
[Related: Hot Property: The biggest property headlines from the week 3-7 May]
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