Property news you need to know: The week ending 10 October

1. APRA boosts lending buffer to cool home loan risks

APRA hopes changing the rules around how banks assess the serviceability of home loans will cool rising household debt levels.

2. RBA announces October cash rate

The Reserve Bank of Australia (RBA) has made a judgment call on the cash rate for October amid a flurry of debate around lending and ever-increasing property prices.

3. REIV reveals new president

A Melbourne real estate agent and business director has been elected as the new president of the Real Estate Institute of Victoria (REIV) for 2021-22.

4. Association heads flag downside risks of buffer changes

The two mortgage broker associations have flagged potential risks of increasing serviceability buffers, including impacting refinancing capacity.

6. When will international students return to the rental market?

Universities Australia-wide have felt the pinch of the pandemic, but they aren’t the only sector struggling due to a traditional reliance on international students. 

7. REA Group to trial ‘financial passport’ for home buyers

Home buyers using realestate.com.au may soon be able to generate a “financial passport” to help them understand their borrowing capacity, as part of a new partnership with Frollo.

8. Belle Property merger cements Melbourne footprint

Belle Property Sandringham is looking to up the ante once restrictions are lifted by joining forces with a duo from McGrath Estate Agents.

9. Owner-occupier lending dragged amid lockdowns

The value of new home loans declined by 4.3 per cent in August, as owner-occupier lending fell amid ongoing COVID-19 restrictions.