Property news you need to know: The week ending 19 September

1. REIV rebukes Victorian plan to ease real estate restrictions

The Real Estate Institute of Victoria has finally offered its thoughts on Dan Andrews’ plan to loosen restrictions around real estate when 70 per cent of the eligible population has at least one COVID-19 jab.

2. Why Sydney is seeing an investor exodus

Sydney’s rental vacancy rate has dropped to a four-year-low – and investor pressures are reportedly to blame.

3. Aussie property prices are rising like it’s 2003: Report

Australia has just recorded its highest rate of annual price growth since 2003, at 16.4 per cent.

4. Mortgage deferrals rise 86% in a month: ABA

Home loan and business deferrals have escalated due to the latest COVID-19 outbreak, according to the Australian Banking Association.

5. Dwelling price rise strongest on record: ABS

Both residential property prices and the total value of residential dwellings recorded the largest quarterly rise on record, according to figures.

6. Around the world: How far does $1m stretch?

The price of property in Australia keeps climbing – but how does it compare with the rest of the world?

7. Government committee questions LMI structures

Members of Parliament are considering ways in which housing affordability can be improved, with one MP suggesting that LMI was a “rort” in need of reform.

8. Higher housing supply won’t kill price rise: RBA

Increasing housing supply will help combat rising prices but it’s “not a panacea”, according to a Reserve Bank economic adviser.