Tel: 1300 180 606
Address: 1402/227 Elizabeth St, Sydney NSW 2000
Australian Credit License: 501 182
This article originally appeared in The Adviser
The weekly round-up of the biggest news stories from across Momentum Media’s property titles for the week ending 12 March.
Welcome to The Adviser’s weekly round-up of the headline stories and news that’s important not only for the real estate sector, but also for the state of property in Australia more broadly.
To compile this list, not only do we consider the week’s most-read stories and the news that matters to you, but we curate it to include stories from our sister brands that also have an impact on the Australian property landscape.
The Treasurer has announced that the scheme will expand and extend, taking loans up to $5 million and helping businesses to refinance their existing loans.
Forty-one per cent of COVID-19 complaints lodged with the complaints authority related to credit, with the majority of issues relating to borrowers not being able to access assistance.
The financial services regulator has responded to concerns that it has substantially upped its levies, outlining that it needs the extra funds to cover its post-royal commission enforcement activities.
The former NAB executive has come out of retirement to join Loan Market and steer the group’s transition as it integrates aggregators Choice, FAST and PLAN Australia.
The RBA has laid to rest any chance of a rate rise before 2024 despite expectations that other central banks could raise rates next year and in 2023.
McGrath Parramatta has taken on a new name as it expands its footprint with a new office and new recruits.
Sydney property values are now at an all-time high, having today broken a value record set back in 2017.
Vacancy rates across six of Australia’s capital cities are at extremely tight levels, prompting a rental housing crisis across many of the regions, new research has revealed.
Do sellers list with brands or individual agents? A boutique agency’s CEO has weighed in.
When it comes to real estate sales, individuals are often lured by the prospect and promise of being able to “write their own pay cheque”, and to a realistic extent, it is true, according to Manos Findikakis.
Perth is experiencing an “extraordinary” decline in listing volumes, with sales listings hitting a 10-year low in February.
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The company recognises the Office of the Australian Information Commissioner’s concerns that websites be easy to read, accessible and transparent, include appropriate privacy information and provide directions as to where to obtain further information. Confusing and irrelevant content is to be avoided.
The company recognises Clause 4.2 of the Credit Reporting Privacy Code , which provides an approved opportunity for credit provider and/or lessor disclosures of information, collected by way of a website and required under Sub- sections 21C(1) and (3)(a) of the Privacy Act 1988 as amended, to a credit reporting body. This for the various uses and attracting the various rights for the consumer and/or lessee, in accordance with Clause 4.1 (a) to (f) of the Credit Reporting Privacy Code.
These disclosures are included in the company’s Credit Information (Privacy) Management Policy (Tab 8), which is on the company’s website and the communications information content is listed in the Company’s Credit Reporting Data Management Policy (Tab 10) .
From time to time, the company’s website may facilitate consumers completing credit and/or lease applications, questionnaires, forms and the like.
The company only collects information from potential and actual consumers which is reasonably necessary, directly or indirectly, for the conduct of the company’s credit provision activities.
If the consumer suspend s or save s any online application, form, questionnaire or the like, the information the consumer has entered prior to that suspension and/or saving will be available to and retained by the company, as well as being available for the consumer to retrieve when the consumer resumes completing the online application or other activity. The company’s Credit Information (Privacy) Management Policy also applies to this information.
The company does not ask for, store, use or disclose sensitive information.
From time to time, the company’s website may contain links to the websites of third party entities. If as consumer has accessed such a third party website, via the company ‘s website, the consumer may have provided information to that third party entity. If they have chosen to provide information, access to that information may also be provided to the company by that thir d party entity, subject to an agreement between the two companies to share the information.
When viewing the company’s website, or the third party company’s website, from time to time “cookies” and “web beacons” may be used to collect information. This information may include information concerning any or all of the following:
In accordance with the company’s Credit Information (Privacy) Management Policy, the company takes reasonable steps to keep the information obtained secure and to store, use and disclose such information only in accordance with that policy. This includes the above listed information and any information included on completed and submitted applications, forms, questionnaires and the like.
The above listed information will not be used for any third party company marketing, but the company may use the information to advise the consumer of continuing and new products and services, from time to time.
The above listed information is not provided to overseas based companies for any purpose other than possible storage and review of information, for the company’s purposes only.
The above listed information may be used to assist the company in providing the consumer with any service or product, at the time of a particular visit to the company’s website or thereafter, which may or may not be the service or product that initially prompted the consumer to visit the website .
From the Privacy Commissioner’s investigation reports, the company notes that website security is an ongoing obligation and that Australian Privacy Principle 11 applies to website security management . The Office of Australian Information Commissioner’s statement, on 6 March 2014, has been noted by the company, in that the company’s policy is to continue to take reasonable steps to protect information held in digital storage.
To that end, the company utilises ICT security measures relevant to the need to protect all Internet interactions. Security steps used by the company can include:
While the company recognises that it may not be liable when a third party intentionally exploits the company’s reasonable security measures and gains unauthorised access, the company’s defence must be able to demonstrate that previous reasonable steps had been undertaken to prevent such a cyber attack.
The company’s policy is to review /update information security measures each day and to maintain information security measures that respond to the changing landscape.