In what can only be described as totally unsurprising news, adult kids are influencing their parents’ down-sizing decisions, experts say there are risks in buying off the plan, more people are using AI to help them in their home buying decisions, and firies are waning that piggy-backing power strips – those multi-socket cable extensions – could be dangerous.

Meanwhile the forced sale of Bathla properties has begun and it seems apartments in a popular seaside town have dropped 11 per cent in value.  Suddenly that $50k hit we took to get out of a dysfunctional unit block there feels like a $60k gain.

All that and more in this week’s news for the property websites.

Realestate.com.au

The family factor: How adult children influence downsizing decisions
A new report reveals two in three downsizers say their kids have a say in the move.

Property experts reveal traps and perks of buying off the plan in downturn
One person’s downturn is another person’s opportunity. But does this ring true when it comes to buying off the plan?

Melbourne property drop triggers automated bank valuation trap for mortgage holdersA homeowner seeking a loyalty discount was assessed for a pricier mortgage-rate bracket after their bank’s computer put a lower value on the property.

How AI is helping Aussie home buyers
More and more home buyers, particularly Millennials, are regularly using AI when making housing and lending decisions while still relying on human help for negotiations and transactions.

Bowden’s $120m 10-storey Flowe tower breaks ground
Construction on the $120m Flowe Bowden building has kicked off, with more than a quarter of its apartments already secured.

Graya wins green light for $160m luxury Palm Beach apartments
A $160 million beachfront project has been given the green light after an 11th-hour land grab sent high-profile developer Graya back to the drawing board.

RBA lifts cash rate to 4.85% in fifth hike this year
Inevitable tightening from the Reserve Bank has pushed Australia’s cash rate to a high not seen since the Global Financial Crisis.

RBA eyes up AI-led inflation and spending upticks
AI could increase spending faster than Australia can produce goods and services, potentially making inflation worse, the Reserve Bank has warned.

Developers packing apartments with wellness and tech perks
Australian developers are increasingly embedding resort-style wellness features and smart technology into residential buildings as future-focused design reshapes how Aussies live.

Horror powerboard image triggers stark fire warning as authorities urge Aussies to stop one dangerous habit at home
A shocking photo of a scorched powerboard has triggered a fresh warning for Australians, with fire authorities saying one common household habit could end in disaster.

‘No-go zones’: Ex-banker exposes Australian areas to never buy in
Property investors trying to adapt to the loss of negative gearing benefits have been warned over emerging “no-go-zones” that are luring in new buyers with high returns that hide long-term risks.

‘Just dreaming’: SQM analyst warns no capital city has hit property bottom
The “property market has bottomed” discussion has been riveting, waxing and waning ever since it got underway earlier this year.

‘Crashed’: Major Australian state losing the AI race
NSW has been dealt a reality check by Victoria in the high-stakes, multi-billion-dollar race to power the nation’s artificial intelligence revolution.

RBA eyes up AI-led inflation and spending upticks
Speaking in Sydney on Monday, assistant governor Sarah Hunter said inflation is expected to put more upwards pressure on inflation in the near term, further compounding cost of living concerns.

Melbourne auction clearance rate hits 60 per cent despite RBA rate rise
Melbourne’s auction market battled through the aftermath of the nation’s fifth interest-rate hike this year to a surprisingly strong 60 per cent clearance rate.

Domain

Bathla begins major forced sell-off after $3 billion collapse
The receivers of collapsed developer Bathla are selling off a number of the company’s sites in a bid to pay down its debts.

‘Absolutely obscene’: Five rate hikes push household confidence to GFC lowsMajor banks will pass on the fifth interest rate hike of the year to struggling mortgage holders from tomorrow, helping sink consumer confidence to lows not seen since the global financial crisis (GFC).

Idyllic coastal town sees apartment prices plunge in biggest statewide drop outside SydneyAn idyllic seaside town on the NSW South Coast has seen unit prices plunge in the biggest statewide drop outside of Sydney.

ASIC launches investigation into Bathla after $3 billion collapse
Australia’s corporate watchdog is investigating the collapse of Western Sydney property developer Bathla.

‘Contact agent’: Why property prices can remain secret in Queensland
The Queensland government has ruled out making property prices more transparent for buyers, leaving real estate listings shrouded in secrecy and consumers in the dark.

‘Shameless cash grab’: Homes face wrecking ball after $85m Mosman project greenlit
Homes in an affluent Sydney neighbourhood are set to be demolished after the NSW government approved an $85 million project, despite fierce community opposition.

Resort-style amenities are now a must-have in luxury apartment developments
Apartment complex or resort? The lines between the two have blurred as developers step up the level of luxury amenities to meet, and even exceed, affluent buyers’ expectations.

Urban Developer –

Birthplace of Australia’s First Craft Beer Hit Pitched for Revival
The brewery that put Australian boutique beer on the map could be revived at its original North Fremantle home under a $225-million redevelopment including an 18-storey apartment tower, hotel and brewpub.

Deicorp Makes Bid to Double Homes, Heights of Macquarie Park Project
Deicorp wants to double the height and yield of its apartment tower at Macquarie Park approved a year ago.

Southport CBD Tower Plans Trade Height, Density for Feasibility
New tower plans have been filed for a gravel-covered car park on the edge of the Southport CBD on the Gold Coast.

Aged Care to Arts Precinct in $180m North-East Melbourne Makeover
A former aged care home left in poor condition for decades will become a $180-million Greek-inspired cultural and residential precinct, complete with a 430-seat theatre, hotel and 82 new homes.

Hamton, Hostplus Learn Fate of Three-Tower Moonee Valley Stage
Hamton and joint-venture partner Hostplus have been cleared for the next stage of their $3-billion Moonee Valley Park masterplanned community beside the landmark racecourse.

Victoria Barracks Backflip Tests $1.2bn Defence Sell-Off Plan
The Federal government has defended the financial assumptions underpinning its Defence property sell-off after abandoning plans to sell Sydney’s Victoria Barracks and three other heritage-listed sites.

Eastlakes Redevelopment Moves Ahead After Decade-Long Wait
Conquest has been greenlit to carry out early works as part of its mixed-use Eastlakes Shopping Centre redevelopment.

Apartments.com.au

Stockwell builds on 74-year Brisbane legacy with Rhodes on Melbourne launch
Long-established Queensland property group Stockwell has launched Rhodes on Melbourne, an 80-apartment development in South Brisbane, continuing its decades-long investment in Brisbane’s inner south and the evolving Fish Lane precinct.

Pay-walled

The Australian

New home loans down 15pc in biggest quarterly fall on record, as investor loans plummet by 30pc
The number of young Australians buying their first home slumped further in the September quarter, scuttling the government’s ambitions to boost home ownership for younger generations through its budget tax changes.

Australian property market slump accelerates as CBA and ABS data reveals lending crash
When the Reserve Bank hiked interest rates for the fifth time this year, governor Michele Bullock said she didn’t see the economy “cracking” as a result.

CBA home loan arrears hit six-year high as rate rises squeeze borrowers
Home loan trouble at Commonwealth Bank is at its highest in six years, with the country’s biggest lender pointing to a rising tide of customers 90-plus days past due.