Hot Property: Biggest headlines from the week that was

1 minute read

Hot Property: Biggest headlines from the week that was

by Grace Ormsby 02 July 2020 1 minute read

It’s a new financial year and some Victorian areas have re-entered stage 3 restrictions due to COVID-19: Here are the biggest property stories from this week.

by Grace Ormsby
July 02, 2020

Welcome to Smart Property Investment’s new weekly round-up of the stories that are most important to you as an investor.

To compile this list, not only are we taking a look at the week’s most-read stories and the news that matters to you, but we are also curating it to include stories from our sister platforms that could have an impact on your investment journey.  

  1. REIV responds to suburb crackdown

Victorian Premier Daniel Andrews has reimposed restrictions, calling it a necessary action to take in response to a climb in coronavirus cases, which have been back in the double digits for the past week. Councils of primary concern include Hume, Casey, Brimbank, Moreland, Cardinia and Darebin.

In light of rising cases of the coronavirus, 10 Melbourne postcodes with the highest amount of incidents would return to stage 3 restrictions. This includes both businesses and residents.

  1. How the rest of 2020 will play out for property

Domain economist Trent Wiltshire has examined trends within the market, concluding that there are two likely scenarios to occur by the end of the 2020 calendar year: The first being modest price falls, and the second: a slow pick-up in property sales.

  1. How COVID-19 changed business practices

The pandemic literally changed the world. It certainly changed the way we conduct business of all kind, writes RE/MAX’s Michael Davoren.

The real estate industry has learnt a lot of lessons from March through to the end of June, and continues to learn, and the lessons learnt from how we have been forced to adapt have a great many positives. He’s penned some of his observations.

  1. EOFY: Big-ticket items you should be claiming on your investment property 

There are many ways to reduce annual amounts, and deductions can sometimes be the difference between your investment having a positive or negative cash flow, writes Tamara Wrigley of Carolans First National Real Estate SunshineSunshine, NSW Sunshine, VIC Coast & Hinterland.

  1. What to ask your builder

There are 10 things you should ask your builder before the construction of your new home, according to a new guide from Builder Finders.

  1. Building a portfolio through fragmented investment

Investors are being urged to look at alternative property strategies, including fragmented property ownership, as a way of diversifying and growing their portfolio.

“Fragmented property means that all the owners of all the different pieces are actually on title. So, they’re on that land title as opposed to a fractional ownership model where that’s typically some kind of unit trust or company structure,” explained Bricklet CEO Darren Younger.

7. ‘Hayne got it wrong’: Committee chair backs status quo

Commissioner Kenneth Hayne’s recommendation to overhaul the broker remuneration model missed the mark, according to Tim Wilson, Liberal MP.

MFAA CEO Mike Felton also pointed to findings from previous inquiries, noting the utility of trail commissions as a “controlling mechanism”, which has “stood the industry in good stead” and “improved customer outcomes… ASIC reviewed our industry in great detail and did not recommend that trail commission be banned.”

  1. In focus: ASIC commissioner Sean Hughes on best interests duty guidance

PODCAST: Last week, ASIC released its regulatory guide 273, the final guidance for the incoming best interests duty for mortgage brokers. ASIC commissioner Sean Hughes has spoken with The Adviser’s Annie Kane to discuss the regulator’s new guidance on the incoming best interests duty for mortgage brokers and what it hopes to achieve.

  1. Where can you get a mortgage rate under 2 per cent?

New mortgage-holders can now get rates for below 2 per cent, as authorised deposit-taking institutions fight for new business.

  1. The ‘better than expected’ Queensland property market

The Queensland property market has shown strong signs of growth and resilience during the first three months of the year, research has shown.

Hot Property: Biggest headlines from the week that was
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