Search Results for: coronavirus
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NEWS
Victorian real estate weathers coronavirus storm
Victoria’s property market seems to be holding its ground well during the COVID-19 pandemic according to the latest REIV Residential Market Index (RMX) figures. The RMX is a residential property price index (RPPI) designed to provide an up-to-date and simple insight into real property price trends in Victoria. An RPPI measures the price change of the stock of residential dwellings…
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Elite Agent TV
Navigating the coronavirus crisis for real estate agents
Sam McLean sat down with REIWA President Damian Collins, REINSW’s Leanne Pilkington and REIV’s Leah Calnan to get an overview of what is happening in the industry since the pandemic hit and what needs to happen for real estate professionals, tenants and landlords to get through the crisis.
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Elite Agent
Government announces further measures for business to save jobs during coronavirus crisis
The Federal Government has released the second stage of its economic plan to cushion the economic impact of the coronavirus and help build a bridge to recovery. A total of $189 billion is being injected into the economy by all arms of government in order to keep Australians in work and businesses in business. This includes $17.6 billion for the…
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INDUSTRY NEWS
UK Government provides protection for renters affected by coronavirus
The Ministry of Housing in the UK has announced a radical package of measures to protect renters and landlords affected by coronavirus. As a result, no renter in either social or private accommodation will be forced out of their home during this difficult time. The government department, in a press release, said that emergency legislation will be taken forward as…
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NEWS
Coronavirus fallout prompts RBA to slash rates
The RBA has officially cut interest rates to their lowest level on record in the fight against the economic fallout from the coronavirus. In an emergency meeting yesterday, the RBA reduced the official cash rate to 0.25 per cent down from 0.5 per cent. The RBA has only recently cut the cash rate from 0.75 per cent at its monthly…
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NEWS
REIWA calls for safeguards in wake of coronavirus
REIWA is urging the state government to consider additional rent assistance for residential tenants who lose their jobs and safeguards for landlords if the tenant can no longer afford to pay rent as a result of the coronavirus pandemic. It comes as welfare and arts bodies call for a ban on housing evictions over the next few months to support…
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OPINION
How will coronavirus affect property prices?
Guest contributor: Nigel Stapledon, is a Research Fellow in Real Estate, Centre for Applied Economic Research, at UNSW The bottom line is it will be negative – prices will go down. People, up until now, have been talking about the property market developing a bit of momentum, with the interest cuts we had last year and the easing in credit…
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NEWS
McGrath trials coronavirus safety plan
McGrath Limited is proactively trying out a safe working environment should the need for staff to work remotely arise in the wake coronavirus outbreak. While the real estate company hasn’t been impacted by the crisis internally, McGrath CEO Geoff Lucas said they want to proactively plan and test operating systems to ensure the business continues to run smoothly should the…
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NEWS
Coronavirus fears force the RBA to cut rates to 0.5%
Fears that the coronavirus will weigh on both the local and global economies has forced the RBA to slash the official cash rate by 25 basis points to 0.5 per cent. The RBA made the decision to cut interest rates to a record low level in what is the fourth cut in 12 months. The unprecedented fallout from the coronavirus…
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NEWS
RBA Survey: Coronavirus economic impacts just beginning
Experts fear the Reserve Bank of Australia (RBA) will need to take action in the wake of the COVID-19 (coronavirus), according to Finder. In this month’s Finder RBA Cash Rate Survey™, 39 experts and economists weighed in on future cash rate moves and the state of the Australian economy. Graham Cooke, insights manager at Finder, said 20 of those surveyed specifically…
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NEWS
The novel coronavirus outbreak and Chinese cross-border real estate buying
Chinese Consumers at Home To understand the impact of the epidemic on Chinese cross-border real estate buying in overseas markets, it helps to first understand the situation for these buyers at home, in China. In much of the country, people are working at home or taking an enforced holiday until they can return to their…
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INTERNATIONAL
US market down $2.3 trillion since peak
New figures from Redfin show the US housing market has lost 4.9 per cent, or US$2.3 trillion, in value since its peak in June.
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INDUSTRY NEWS
Interest rates on hold but experts tip a rise is coming
The Reserve Bank of Australia has again opted to keep interest rates on hold at 0.1 per cent as they eye the likelihood of increased inflation over the coming months.
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Elite Agent
Courageous Conversations: Why Madelyn Jones turned her back on a corporate career to address homelessness, one gift box at a time
When events manager Madelyn Jones found herself walking past the same homeless man every morning in Sydney, she knew there must be something she could do.
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INDUSTRY NEWS
Law reform key to digital Australia
Lawyers and business owners are calling out for consistent and permanent reforms across all Australian jurisdictions as digital document signing becomes a business mainstay.
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INDUSTRY NEWS
Omicron hits the real estate sector
With more than 600,000 active cases of Covid in Australia, and the Omicron variant surging across the country, the impact on the real estate sector is now becoming more evident. From staff shortages to legal implications and a slowdown in the rental market, this is what the nation’s real estate institutes are hearing from their members… Real Estate Institute of…
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NEWS
“It’s as if home building can’t scale up”: Here are 10 graphs that tell interesting stories about Australia (and real estate) in 2021
“One of the first things you have to decide on with a musical is why should there be songs.” The person speaking is Stephen Sondheim, the writer of some of the best songs for musicals in the 20th century, who died in November aged 91. You can put songs in any story, but what I think you have to look…
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INDUSTRY NEWS
15 real estate professionals offer their property market predictions for 2022
After a bumper year for real estate, there’s a lot of talk about what the property market will do in 2022.
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INDUSTRY NEWS
Sydney property prices not in bubble territory
Record-low interest rates have fuelled rapid house price growth around Australia, however, Sydney is not in a housing bubble just yet.
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INDUSTRY NEWS
Victorian Government boosts build-to-rent scheme
The Victorian Government has announced the build-to-rent scheme has been expanded in a bid to encourage investors to build rental properties.
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FRANCHISE NEWS
Sunshine Coast agent uses OASIS to launch independent agency
When veteran real estate agent Greg Pratt was looking for the support he needed to set up a virtual, independent office on the Sunshine Coast, he went straight to @realty.
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NEWS
Authorised workers required to be vaccinated in Victoria
All "authorised workers" across Victoria will be required to have at least one dose of the COVID-19 vaccine by Friday 15 October in order to continue working.
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NEWS
How millennials’ digital habits and home ownership trends have impacted the Australian property market
Millennials are a digitally savvy generation, going online to shop, socialise and work. So it is little surprise they would seek out digital alternatives in real estate, too.
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Victoria
Home inspection rules ease as Victoria hits 70 per cent vaccination milestone
Locked-down areas in metropolitan Melbourne and Ballarat will be able to resume real estate inspections by appointment from 11:59PM Friday 17 September.
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BEST PRACTICE
Five ways to tackle the stress of uncertainty in real estate
Extended lockdowns and the stress of uncertainty has negatively impacted the mental health of many Australians, including those in the real estate industry.
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INDUSTRY NEWS
Reserve Bank of Australia maintains historic cash rate hold of 0.1 per cent
The RBA announced the national interest rate will remain on hold at the historic low of 0.1 per cent.
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Elite Agent
Empowering the agent: 30 minutes with REA Group’s Simon Hope
Online auctions and virtual inspections are part of real estate’s ‘new normal’. But technology and data are not enough on their own.
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NEWS
Queensland stops all arrivals from New South Wales, Victoria and the ACT
Overwhelmed by new residents relocating from NSW Victoria and the ACT, Queensland has slammed borders completely shut.
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INDUSTRY NEWS
What current property market trends tell us about the future of Australian real estate
The Agency CEO Matt Lahood joked the property market's progress was "not bad at all", considering how many regions have been in lockdown.
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Elite Agent
The sky is the limit: What if Virgin did real estate?
What would it look like if Virgin moved into real estate? At Transform, Virgin Australia General Manager Emma Mehaffey offered her thoughts.
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SUPPLIER NEWS
Aaron Worrad embraces a new way of working
The pandemic prompted Aaron Worrad to reflect on his place in the real estate industry, concluding there was new way of doing business emerging
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INDUSTRY NEWS
Australians are using lockdown to hunt for property online
Search activity on realestate.com.au jumped 2.4 per cent last week as lockdowns were felt across the country.
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INDUSTRY NEWS
More than half of experts say lockdowns will slow property price growth
Strict lockdowns are one of the few things that can slow down Australia’s recent surging property price growth, according to experts.
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NEWS
Which regions have seen the highest rent value increases over the year?
CoreLogic data across 88 local markets shows that, as with the current housing market upswing, rental market increases have been broad-based.
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