Real Estate and Property Market News

Real Estate Institute of Australia (REIA) have announced the finalists for the REIA National Awards for Excellence 2021 which is being presented by realestate.com.au

The federal government has announced its Budget for the 2021–22 financial year. Family Home Guarantee program will help single parents buy a home, New Home Guarantee program, New Home Guarantee program, First Home Super Saver Scheme (FHSSS), Downsizer contribution to super.

Realbot.com.au [realbot] is proud to be a supporting partner of the 2021 Real Estate Institute of Australia (REIA) National Awards for Excellence which will be held in Darwin on 9 – 10 June 2021.

The Reserve Bank of Australia governor Philip Lowe made it clear that recent speculation in financial markets that some central banks, including in Australia, may increase rates earlier than expected, was not an expectation that the RBA shared.

People are advised to speak with their bank if they are in financial difficulty. If they are unhappy with the bank’s response then they should make a complaint to the Australian Financial Complaints Authority and call the National Debt Helpline.

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The Reserve Bank of Australia is waiting to see the impact of its monetary policy on the Australian economy. Indicators suggest economic recovery is running at a faster pace than had been forecast. This means that home buyers are responding to the unprecedented levels of stimulus available.

It seems buyer demand has increased to buy a house in Sydney before Christmas and to get kids into school zones, but there are more units than houses to choose from. This has caused some to hold off and save more for a larger entry level house farther away from the city.

The NSW Government says it wants to help the people of NSW achieve the Australian dream of home-ownership and to grow the NSW economy. To achieve this it is starting public consultations on property tax reform where property buyers in NSW could be given the option to pay a smaller annual property tax instead of a larger up-front stamp duty and land tax (where applicable). The smaller amount is a fixed amount plus a rate applied to the unimproved land value of a property.