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Hot Property: The biggest property headlines from the week 23-27 November

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The weekly round-up of the biggest news stories from across Momentum Media’s property titles for the week ending 27 November.

Welcome to The Adviser’s weekly round-up of the stories that are getting big reads across Momentum Media’s property titles: The Adviser, Mortgage Business, Real Estate Business, Smart Property Investment and nestegg.

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

What the Loan Market/NABregators deal means for brokers

Speaking to The Adviser, Loan Market chairman Sam White said the acquisition would enable Loan Market to provide brokers with choices around the commercial model they would like to incorporate into their businesses.

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“We wanted to be able to give brokers different choices for what sort of service they were going to get and what they would pay. It’s a different value proposition to the aggregation service, and that was something that was important to us, too.”

Victoria announces stamp duty waivers

The Victorian government has announced an investment of over $293 million to fund a stamp duty concession of up to 50 per cent for homes valued at up to $1 million.

The move has been announced in the Victorian budget 2020-21, which invests $1.5 billion in new tax relief for Victorian businesses and families.

Victorian budget boosts property sector

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Stamp duty savings, first home buyer grants, land tax reprieves and a $6 billion injection into the development of a build-to-rent sector are among the ways the Andrews government aims to stimulate Victoria’s property sector.

McGrath backs record result on ‘The Block’

Two St Kilda agents have helped “The Block’s” Jimmy and Tam to a staggering million-dollar profit in this year’s rendition of the hit renovation show.

The 1950’s Palm Springs-inspired home sold for a massive $4,256,000 ($966,000 over reserve).

Unpaid wage lands Melbourne agency operators in legal trouble

The Fair Work Ombudsman is taking the former operators of a Werribee real estate agency to court for underpaying a worker and subsequently producing a false or misleading document, where they could face more than $100,000 in penalties if found guilty.

Agents beat out federal politicians and foreign directors on ethics

The ethics of real estate agents appear to have improved, with the Australian public indicating a new perspective of the profession in an annual report.

The newest edition of the report shows a net score jump from -21 in 2019 to -2 in 2020. It’s the first time that real estate as an occupation has reported a net score higher than -21.

(See also: Queenslanders least impressed by agent ethics)

NSW Fair Trading introduces strict new Airbnb rules

A new code of conduct for short-term rentals in NSW includes a “two strikes and you’re out” policy that could result in problematic hosts and guests being banned from holiday letting for five years.

How to negotiate a lower interest rate on your property loan

If you feel like your home loan repayments will never come to an end, the key can be as simple as negotiating to get a lower interest rate. It’s worth regularly reviewing your home loan to make sure you always have the lowest rate possible.

Property hotspots for young Aussies revealed

New research from Westpac revealed that the number of first home buyers looking to enter the market has more than doubled since 2019.

In Sydney, prospective first home buyers identified western suburbs as locations they want to buy in, particularly areas within 10km from the city centre, like Ashbury and Marrickville.

Melbourne’s eastern suburbs have also attracted attention from young home seekers, particularly eastern suburbs located 20-40km from the CBD, like Mitcham and Croydon.

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 16-20 November]

Hot Property: The biggest property headlines from the week 23-27 November
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