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Property news you need to know: The week ending 17 October

15 OCT 2021 By Grace Ormsby 4 min read Hotspots

Smart Property Investment is pleased to present a weekly round-up of the biggest stories across property, investment, real estate, and finance, with thanks to Momentum Media.

sydney melbourne spi

Here are the biggest stories for the week ending 17 October 2021:

  1. Victoria launches $500m home buyer fund

The state has launched a new home buyer fund, under which it will pay 25 per cent of the property purchase price if eligible borrowers have a 5 per cent deposit.

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  1. Hefty fines headed for unvaccinated agents in Victoria

From 15 October 2021, unvaccinated agents across Victoria could be hit with fines of more than $20,000 – or $100,000 for their agency – if they continue to work onsite without the jab.

  1. Negative gearing to again hit the federal election limelight

EXCLUSIVE: Treasurer Josh Frydenberg has highlighted housing taxes as a key issue ahead of the federal election, despite Labor abandoning its previous calls to scrap negative gearing.

  1. Freedom Day: Navigating NSW’s ever-changing COVID restrictions

Lockdown restrictions across greater Sydney and NSW may be lifting today, but for the real estate industry, the road forward has felt anything but clear.

  1. Brokers play ‘fundamentally important role’ in competition: Frydenberg

The Morrison government “strongly supports” brokers and the role they play in providing competition, the federal Treasurer has told Momentum Media.

  1. Be wary of suburbs that have grown too much

Investors would be well-versed to heed the warning: “Past growth is not a predictor of future growth.”

  1. Sea change lands Sydney director in Byron

A New South Wales agent is making a sea change of his own, swapping the streets of Sydney for the beach at Byron Bay.

  1. Victoria expands eligibility for build-to-rent concession

More Victorian rental properties will be eligible for a 50 per cent land tax discount following the state government’s expansion of its building incentive scheme.

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RELATED TERMS

Investment

An investment is an asset or item purchased with the expectation that it will generate income or appreciate in value in the future.

Negative gearing

Negative gearing occurs when the rental income of a property is not enough to cover the total costs of managing the rental and re-paying the interest portion of the loan.

Property

Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.

Real estate

Real estate is a type of real property that refers to any land and its permanent improvement or structures that come with it, whether natural or man-made.

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