The weekly round-up of the biggest news stories from across Momentum Media’s property brands from the week ending 2 October.
To compile this list, not only do we consider the week’s most-read stories and the news that matter most to you, but we also curate it to include stories from our sister brands that also have an impact on the Australian property landscape.
Westpac joins ANZ in forecasting November hike
Westpac has joined Australia and New Zealand Banking Group (ANZ) in forecasting that the Reserve Bank of Australia (RBA) will lift the cash rate again in November, as renewed inflation concerns and a unanimous September decision raise the prospect of a fifth rate increase this year.
Bullock labels current rate ‘restrictive’ yet says more hikes possible
RBA governor Michele Bullock has labelled the new 4.60 per cent cash rate “restrictive”, while warning that further rate rises remain possible.
RBA announces latest cash rate call
The Reserve Bank Monetary Policy Board has announced its September cash rate decision, as it responds to persistently above-target inflation.
Borrowing power becomes pivotal in lender choice
Mounting serviceability pressure is pushing borrowing capacity closer to the centre of borrowers’ lender decisions.
Foreign investor hit with $508k penalty over land banking
The Australian Taxation Office (ATO) has continued its crackdown on foreign investors, fining a second overseas landlord for failing to build residential dwellings within the time frame.
RBA rate decision causes more pain for buyers
The RBA’s latest cash rate rise has continued to pile on the pressure for investors and home owners, with borrowing capacity reduced and market confidence declining.
Australian capitals continue 6-month slide
Agents will keep fighting to get listings as home values and sales volumes fall nationwide, according to the latest data.
Fifth rate hike looms as inflation jumps
Only one day after a fourth rate hike, the latest inflation shock has thrown the property market into fresh uncertainty, with buyers weighing further potential rate increases against the prospect of further price falls.
[Related: Hot Property: The biggest property headlines from the week 21–25 September]
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