Property news you need to know: The week ending 3 October

1. 20 agents in hot water over trust account woes

A new NSW Fair Trading crackdown has led to eight real estate agent licence cancellations, nine licence disqualifications, and almost $175,000 in penalties.

2. The 10 most popular suburbs for first-home buyers

More than one-third of first-home buyers in Australia’s most expensive state are now aged in their twenties – and it’s overwhelmingly Greater Sydney they’re tapping into.

3. Should lending be limited to 6x income?

Debt-to-income ratio limits: do they help, or hinder? With the average property in Australian capital cities now over $700,000, limiting “high” DTI loans could put home ownership out of reach for many, as Annie Kane explores.

4. 1,100-strong property portfolio backs newest Atlas outpost

The doors will soon be opening on a brand-new Atlas by LJ Hooker.

5. Counting the cost of trust account abuse

Is it any wonder the new “disruptive” tech platforms for DIY property management are gaining traction when landlords are perpetually warned that real estate agents can, and do, dip into the trust account at will?

6. Bragging rights as Perth touts ‘bargain’ inner-city suburbs

You can buy 3.5 properties in a Perth inner-city suburb for the cost of one property within 10 kilometres of Sydney’s most affordable inner-city suburb; it’s been revealed.

7. ‘We must be mindful of the balance between credit and income growth’: Frydenberg

The Treasurer has met with regulators to discuss the housing market and consider whether “carefully targeted and timely adjustments” are required.

8. COVID-19 disaster payments to phase out

The weekly support payments will be phased out as states and territories reach 70 per cent and 80 per cent vaccination targets, the federal Treasurer has confirmed.

9. 91% of Aussie sellers are now selling property for a profit

The average Aussie property seller is now pocketing $265,000 from the sale of a property.

10. Building more homes could cut prices by 20%: Grattan Institute

Constructing an extra 50,000 homes a year over a decade could result in house prices and rents being up to 20 per cent lower, the Grattan Institute has estimated.