In the wake of the Coronavirus pandemic, the US housing market has experienced increased volatility, and the real estate industry has responded quickly to the abrupt changes by adjusting processes to fit the “new normal” for the time being. Nationwide, the industry has shifted in order to continue doing business and to implement all the necessary safety precautions, but this all looks a little different market-to-market.
Small home renovation projects and new patios would be exempt from planning approvals in the Western Australian Government’s plan to fast-track economic recovery in the wake of COVID-19.
In a move likely to reduce bureaucracy, costs and headaches for home renovators, small residential projects such as patios, decks and extensions would not require planning approvals.
Other changes include improved community consultation, and scrapping requirements for small businesses to pay cash in-lieu for parking shortfalls of up to 10 bays.
The WA Planning Commission would
Reserve Bank Governor Philip Lowe fronted the Federal Senate Select Committee on COVID-19, saying ensuring Aussies got their jobs back was his main focus right now, which would take care of future mortgage repayments.
Mr Lowe, who fronted the Committee virtually from his office on Thursday, was told by Senator Jacqui Lambie that she was “terribly concerned” that people didn’t know what was going to
Winter is coming … so a Randwick house renovated in the style of Game of Thrones has been sold by its expat owner ahead of a June 30 deadline which means she’ll avoid a big new tax.
International designer Livia Ostojich didn’t include any dragons in her refit of 68 Howard St but agent Angus Gorrie of McGrath thinks the brass bathtub and overall design has a medieval feel to it.
“That bronze bath has Game of Thrones written all over it,” he said.
Supply of homes for sale was down 24% from a year ago in April and new listings fell by 42%, but home prices were still up 5%
The effects of the coronavirus pandemic and subsequent shutdowns hit the U.S. housing market in full force in April, with sales and listings both turning in historic declines from year-ago levels. In the past two months, the housing market has seen the fastest slowdown on record as it flipped from one of the strongest markets ever at the end of February to a near standstill in April.
Home sales in April plunged 22.5%