From the CEO: 29th November 2023

The REIQ released its September 2023 quarter median residential sales results today and it shows property in Queensland has stayed in good shape. Unit price growth seems to be awakening from a long slumber, which is not surprising due to their relatively affordable price point. The biggest challenge at the moment is people’s reluctance to sell and make the jump to their next property. Read more here.

Together with AON and CyberCert, the REIQ is delighted to have developed and launched a Cyber Resilience Toolkit for real estate professionals. The Toolkit equips you with the knowledge and guidance needed to navigate the increasing risk of cybercrime. Real estate professionals and agencies are a primary target for cyber-attacks - partly because of the large sums of money they hold and transact as well as the large volumes of personal information they collect and store. As part of this release, the REIQ has partnered with CyberCert to help small and medium sized businesses become cyber certified – proving to their business partners, clients, and customers that they are taking all necessary steps to safeguard their information. Additionally, real estate professionals and members who purchase a CFC Cyber Insurance policy through our partners Aon will receive complimentary access to CFC’s bespoke suite of risk management services via their award-winning app, Response. Find out more here.

When it comes to commercial leasing, this edition of the Journal looks at when the Retail Shop Leases Act 1994 applies. It can sometimes be difficult to determine whether the lessee’s business at a premises falls within the scope of a ‘retail shop’ in accordance with the RSLA. The Act may determine what type of lease can be offered for the premises, what costs and outgoings can be charged to the tenant and what time frames may impact the lease. It also imposes certain disclosure obligations that don’t affect other types of commercial premises. You can find out more here.

Read more from Antonia Mercorella: From the CEO: 15th November 2023.

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