Hot Property: The biggest property headlines from the week 15-19 June 2020

We hope it helps inform you of the biggest issues shaping the mortgage and property markets. 

After several delays and ongoing consultation, the Australian Competition and Consumer Commission (ACCC) has said that the proposed $120-million merger between AFG and Connective will not be opposed. A combined Connective-AFG entity would cover approximately 40 per cent of the broker channel.

ASIC levy to cost broking industry over $10m  

The cost of regulating credit intermediaries in 2019-20 is estimated to be $10.1 million, according to ASIC, a 53 per cent increase on last year. The cost will be covered by a minimum levy of $1,000 per entity (of which there are said to be 5,036) and then a variable amount dependent on the number of credit representatives the entity has as a proportion of the total number of credit representatives in the subsector.

Submissions open for 2020 Women in Finance Awards 

Now in its fourth year, the Women in Finance Awards is a national awards program designed to shine a spotlight on the strength, diversity and innovation female leadership brings to professional and financial services in Australia.

Online where it’s at for former sales director 

Proving a pandemic is as good a time as any to launch a new business venture, a former LJ Hooker sales director has kicked off a new online agency to upend the traditional notions of real estate. Alex Lumsden is taking up the helm of Lumsden Agency, an online, digital-first marketing company with a focus on visual marketing and digital advertising.

The double-edged sword of stock levels in a buyer’s market  

We’re about to see the best buying opportunities in the last decade, according to Tom Panos, who has said: “Stock level is flying in. I’ve booked so many auctions.”

Lenders exercise caution with high-density postcodes

Investors planning to borrow up to their maximum capacity, rely on bonuses or commissions, or purchase property in high-density postcodes have been warned that restrictive lending policies established in response to COVID-19 are unlikely to ease anytime soon. 

WEBCAST: Brisbane off the back of COVID-19

COVID-19 has featured much in commentaries on Sydney and Melbourne’s property markets, but the same can’t be said for another east coast capital. Phil Tarrant and Melinda Jennison break down the Brisbane market – from the worst of the pandemic to now.

HomeBuilder scheme hotspots revealed

The top region by eligible HomeBuilder properties is Melbourne - south east, with 157,364 properties worth less than $1.5 million, followed by Perth - north west at 145,889 and Melbourne - west at 141,444 properties. Melbourne appeared two more times on the list, with Melbourne - outer east ranked fifth with 130,307 properties and Melbourne - north east at 108,354 properties.

The Agency hits the Central West 

The Agency has expanded to the Central West region of NSW after eyeing an opportunity too valuable to pass up – with a particular focus on Dubbo, Orange, Bathurst and Mudgee. The move sees highly regarded local agent Monica Henley and business development manager Justine Campbell welcomed to The Agency’s fold.

McGrath eyes regional lifestyle areas in latest expansion 

McGrath Estate Agents has opened a new office in Mansfield, Victoria, as part of its goal to extend its presence into key regional lifestyle areas on Australia’s east coast. Its move follows the launch of the group’s new Albury/Wodonga office last month.

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. The live stream can be found via The Adviser’s Facebook page every Thursday at 1.30pm.

You can view this week’s episode (Thursday, 18 June 2020) below: