BROKEN WINDOWS & SUGAR RUSHES
The government pushed to introduce $50K grant for new homes - potential idea to reboot the economy
- The Property Council of Australia has proposed the 'New Home Boost' grant as part of its seven-point plan to the National Cabinet for kickstarting construction and the economy.
- First 50,000 people
- Requires $2.5 Billion in federal funding
- Eligible for all buyers of new homes, not just first home buyers
- According to Australian Bureau of Statistics (ABS), every dollar of residential construction generates $3 of activity across the wider economy, while Commonwealth Bank research estimates seven full-time jobs are lost for every $1 million reduction in residential construction spend.
Tourism turmoil provides temporary relief to rental pressures
- The vacancy rate in Hobart was 2.7 per cent, an increase of 0.3 per cent
- Houses in the $300 a week bracket remained steady, but units around $250 increase by $10 a week.
- The median rent for a three-bedroom property reached $550 a week in Hobart’s CBD with $370 a week in inner Launceston.
- REIT members have reported they have had a number of AirBnb properties returning to the long-term rental market as a result of the downturn in the tourism industry.
‘Buyer teleportation’: why it is the future of real estate
- 360 degree tours are set to transform the home buying experience
- Taking a matterport tour and turning it into a 3D experience using Oculus or google goggles
- Over the last two months the number of digital inspections viewed on realestate.com.au has jumped by almost 400 per cent when compared to the same period prior.
- As such the new technology is less akin to Star Trek’s ‘beam me up Scottie’ teleportation but rather the one illustrated more recently in Star Wars.
- The VR technology could also be used by prospective renters and even those building their
- own home.
- People can inspect properties back-to-back more easily and more quickly from the comfort of their our home instead of racing from place to place through traffic
