Post Excerpt Updated regulations making rooming houses safer and more comfortable for residents, have come into effect this week. The changes, which became law on 26 February 2023, cover issues including safety, privacy and amenity and follow a public consultation on the Engage Victoria website earlier this year. Key updates include: increasing the frequency of…
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House prices have inflated by a whopping 18.4% over the year to June, 2021 the latest Real Estate Institute of Australia’s (REIA), Real Estate Market Facts has found. (The report records all sales that have settled). REIA President, Adrian Kelly said that over the June quarter, the weighted average capital city median price increased by…
Mr Lowe said Australia’s stronger-than-expected economic recovery has been interrupted by outbreaks of the highly infectious Delta strain of the coronavirus, especially in NSW. Greater Sydney’s long lockdown, Victoria and south-east Queensland’s current snap lockdowns and the earlier short shutdowns in Victoria and South Australia are expected to send the economy backwards in the September quarter. But Mr Lowe…
RBA expects COVID property price surge will end but no recession Megan Neil The head of the Reserve Bank of Australia has predicted the surge in property prices will come to an end, but does not expect the latest wave of COVID lockdowns will push the economy into another recession. RBA governor Philip Lowe has…
The RBA’s latest Statement on Monetary Policy released on Friday noted housing prices have been rising in all major markets, after declining during the initial COVID outbreak last year. “Strong price growth continued through July, including in Sydney, such that national housing prices were around 15% higher than the start of the year,” the RBA said. The RBA…