⚖️ Senate scrutinising the Budget. Nothing is locked in till they vote.

GOOD MORNING FROM ELITE AGENT 👋

TRUE OR FALSE?

A client has found a beachfront property in Mexico listed at a very attractive price. If the land is classified as ‘ejido’, can they assume it comes with clear, freehold ownership?
(Scroll to the bottom for the answer!)

In today’s edition of The Brief

• Between Budget and Law: a market holding its breath

• No laughing matter: Dave Hughes Budget backlash

• Bracket creep drives stamp duty windfall as state revenues near $35b

Today’s read time: 5 minutes, 50 seconds

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POLICY ANALYSIS

The market right now is driven more by sentiment than policy

The 2026–27 Federal Budget has already been handed down, but the property market is still reacting less to what has been announced and more to what has not yet been finalised. Key reforms remain in a Senate committee process and are expected to reach a critical voting window between 22 June and 2 July 2026, before Parliament rises for the winter break. Until that point, policy remains in flux, and according to Barry Plant CEO Lisa Pennell, that uncertainty itself has become one of the dominant forces shaping behaviour in the market.

As she puts it, “there’s certainly a slowdown in buyer activity,” although she is careful to add it is “not a market collapse by any stretch.”

Rather than a uniform cooling, conditions are increasingly uneven and location-specific, with clear fragmentation across suburbs, price brackets and buyer types. Lisa describes it as “very segmented, but a key shift is the investor segment, where uncertainty around policy settings has led to a visible pullback in activity.

“No investors are going to be seeking a negatively geared property today,” she said, highlighting a broad pause rather than a permanent withdrawal.

Lisa argues that sentiment is now exerting as much influence on the market as fundamentals, particularly in the period before legislation is fully locked in.

In practical terms, fewer buyers at inspections translates directly into weaker competition, with outcomes increasingly dependent on whether a property attracts one or two buyers versus three or four.

At the same time, investor exit activity, already a feature of markets like Victoria due to holding costs, land tax and compliance pressures, is expected to continue, potentially outweighing any short-term decision by some owners to hold.

In her view, the market is not static but suspended in a transitional phase, where legislative uncertainty is amplifying behavioural caution. Until the Budget measures are fully passed and understood, both buyers and sellers are likely to remain more selective, with lower transaction volumes and greater variability in pricing outcomes across different segments of the market.

What you'll learn in the full article:

• The legislative timeline: Key voting windows between 22 June and 2 July, and why nothing is locked in yet

• The investor pause: Why buyer's agents are disappearing overnight – and what it signals

• The pricing reality: Where price declines have already happened, and where they haven't

• The vendor equation: Why investor exits may outweigh any decisions to hold

Read the full article

ICYMI yesterday: The best agents don’t just go faster, they know when to brake

TOGETHER WITH REA

Raine & Horne and REA Group strike landmark tech partnership to boost agent performance

Raine & Horne has entered a major enterprise partnership with REA Group, bringing together one of Australia’s oldest real estate brands and the country’s dominant digital property platform in a deal aimed at upgrading agent technology, data access and lead generation across more than 200 offices.

From August, Raine & Horne residential offices will gain access to REA’s premium “Pro” subscription tools, designed to increase listing exposure, improve workflow efficiency and deliver more seller leads through PropTrack data insights. The agreement also includes integration with REA’s Realtair platform to streamline agent workflows and strengthen client engagement. Raine & Horne Group CEO Chris Nicholl said the partnership represents a significant step in the network’s technology strategy. “REA’s platform visibility, agent workflow tools, and market data insights could combine as key leverage for our office network to look after their customers and continually win business,” he said. He also pointed to a push into commercial real estate technology, saying: “The value of bringing together market transparency through commercial real estate data with a digital workflow that caters to the norms of the sector shouldn’t be underestimated.”

REA Group Chief Commercial and Marketing Officer, Kul Singh, said that Raine & Horne’s technology-led approach makes them an ideal partner for this new agreement. ”Raine & Horne has a long-standing heritage and clear focus on innovation. This partnership brings together two organisations aligned in their ambition to deliver stronger outcomes for agents and their customers.”

Read more about the partnership here.

MORE BUDGET BACKLASH

Hughesy emerges as unlikely voice against budget

Comedian Dave Hughes' videos criticising the Government's proposed negative gearing and capital gains tax changes have generated thousands of reactions across social media. He's not alone – Boost Juice’s Janine Allis, Mark Bouris, and Tom Panos have all weighed in.

TRANSACTION TAX

Stamp duty doubles in six years to $35B

Australian governments collected $34.4 billion in stamp duty last financial year – nearly double what they took six years ago. Sales only rose 5% while revenue jumped 12%, with bracket creep amplifying price gains. The average stamp duty bill hit is now $61,714 nationally.

HOW IT SOLD

11-day Cranbrook sale beats asking price by $30k as first-home buyers win out

A three-bedroom Cranbrook home sold for $659,000 - $30,000 above its offers-over launch price - in just 11 days after a dual-track campaign targeting both investors and first-home buyers generated multiple above-asking offers. Monét Griffin of Ray White Townsville managed the full pre-listing preparation remotely on behalf of interstate vendors, coordinating staging, repairs, and marketing through a PayLater program before securing the sale to a local couple drawn by the pool and dual-access driveway.

Agents across Australia and New Zealand are turning sales into stories. getailsa.com

CELEBRITY HOMES

Avengers star Josh Brolin lists Atlanta mansion as Hollywood work shifts west

Avengers villain actor Josh Brolin has put his sprawling Atlanta estate on the market for just under AUD$7 million, as he and his wife relocate back to the West Coast. The luxury home, once used as a base during peak filming years, features seven bedrooms, resort-style amenities and was previously leased to celebrities and film industry professionals

MOVERS + SHAKERS

Belle Property expands into Penrith ahead of new international airport

Belle Property Nepean opens with 40+ years of combined team experience, targeting the expanding Penrith market. More here.

Ray Ellis named Chairman at Melbourne's Noel Jones

The REIA board veteran and Australasian real estate leader joins the 1977-founded agency. More here.

Aziz Hoque launches First National office in Glenfield

After 16 years in residential sales and investment strategy, Aziz Hoque has opened his own office in Sydney's south-west under the First National banner. More here.

Success doesn’t rest on weekends! 
Get the latest on top agent and agency moves every Sunday with our weekly roundup in Movers & Shakers. Subscribe now.

AGENTS ON SOCIAL

Real estate agents don’t just sell homes - they translate chaos into contracts. And yes, even buyers who hate everything… but still ask if it can settle next week. 😬 💼

Seen an Agent On Social we should include? Let us know here (email link)

TRUE OR FALSE:

A client has found a beachfront property in Mexico listed at a very attractive price. If the land is classified as ‘ejido’, can they assume it comes with clear, freehold ownership?

And the answer is …

False. Ejido land in Mexico refers to communal land ownership established after the Mexican Revolution, where land is held collectively by local communities rather than privately owned in a standard freehold system. Because of this structure, properties on ejido land cannot automatically be treated as outright private ownership, even if they are marketed for sale.

Wishing you a productive day!

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