Real Estate and Property Market News

The latest real estate and property market news from our team of real estate industry leading professionals

First Home Buyer - NSW -Monday, 22 May 2023
As a first home buyer in NSW, you may be eligible for a duty exemption, concession and/or a grant.
The Australian Bureau of Statistics (ABS) data showed that the total value of Australia’s housing hit an all-time high of $9.26 trillion in 2021
New Home Guarantee -Tuesday, 14 December 2021
Eligible first home buyers can apply for a loan to either build or purchase an eligible property through a participating lender, up until 30 June 2022.
The Reserve Bank of Australia will keep its unprecedented low cash rate on hold but could move sooner than 2024
The Australian Prudential Regulation Authority (APRA) told banks to increase the minimum interest rate they use when assessing a new borrower’s ability to meet their loan repayments. The new interest rate is at least 3.0 percent above the usual loan rate. This means that some future applicants will borrow less money. APRA’s objective is to ensure that mortgage lending is conducted on a prudent basis, and that borrowers are well-equipped to service their debts under a range of scenarios.
Reopening NSW -Friday, 8 October 2021
The NSW Govt has announced changes to the road map this week, which means that if you’re fully vaccinated or have a medical exemption, you can do even more from Monday 11 October.
Eligible residential tenants impacted by COVID-19 who can’t meet their residential rent payments are protected from eviction until 11 September 2021. After September 11, landlords can take termination action for rent arrears if their tenant have not entered into an agreement with them to vary their rent.
As the lockdown continues across Sydney, landlords are able to access support for rent reductions granted to their tenants over the two months from July 14. The financial support by the NSW government is capped at the amount of rent reduction that is passed onto their tenants, or $3000, whichever is lower.
The whole of NSW is now under "stay at home" orders. You must stay at home unless you have a reasonable excuse to leave. You cannot have visitors to your home, including family and friends. Please follow the rules and stay at home. NSW has had a significant increase in COVID-19 community transmissions!
Covid-19 across the country is causing concern. Almost 16 million Australians were in lockdown recently, which suggested possible economic consequences, yet house prices around Australia have continued to increase.