Property Buzz

PropertyBuzz, your daily dose of property news.

NSW puts the spotlight on short term rentals, Victoria investigates millions allegedly missing from property sales, and why confidence is high in the commercial sector.


Welcome to Property Buzz! I’m Grace Ormsby. Today is Friday, 16 February.


– NSW is considering making changes to its policies governing short term rental accommodation as part of its focus on tackling the state’s housing crisis.

– The government is currently seeking public feedback on how platforms like Airbnb, Stayz and other holiday accommodation providers are impacting the long-term rental market.

– Housing Minister Rose Jackson made it clear that the intention is to ultimately shift some of these holiday lets back onto the long-term market by incentivising property investors to change the purpose of their properties.

– However, planning minister Paul Scully also noted that the government will be carefully balancing the outcome of the review with tourism needs.  needs of the tourism sector.


– Meanwhile in Victoria, the state’s consumer affairs watchdog is pursuing action against an Avondale Heights conveyancer for the alleged misuse of client funds.

– The conveyancer stands accused of transferring sale proceeds or settlement funds into personal accounts, and providing false receipts stating funds were deposited into a non-existent company trust account.

– Eight clients are reportedly owed over $4.6 million. 

The conveyancer is facing a potential permanent ban from the conveyancing industry and separate criminal investigation. 


– And in commercial real estate, the sector is feeling positive with reports of an outstanding start to the year. 

– As a result, several commercial agencies are looking to capitalise on the apparent interest, with multi-property sales events that will see dozens of properties hit the block. 

– Agents have attributed the robust interest to the Reserve Bank’s recent decision to maintain interest rates coupled with positive inflation data for improving confidence in the sector.

– Though interest rates remain high, experts agree that the greater clarity for buyers is translating to a willingness to spend. 


That’s Property Buzz for today. See you again tomorrow, 17 February, for your daily dose of Property Buzz.

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