Hannah Blackiston
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Supplier News
REA Group posts 17 per cent revenue growth for FY19 Q1
News Corp-owned real estate listings platform REA Group has posted a 17 per cent revenue growth for the first quarter of FY19. Revenue increased to $221.9 million with the company’s EBITDA increasing by 23 per cent to $130.9 million compared to the previous period. This growth was despite tough market conditions; the platform reported a three per cent decline in…
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Industry News
ABS data shows new lending has dropped to lowest levels in four years
The latest ABS housing figures show new lending has dropped to the lowest levels since August 2014 and lending to housing investors is at the lowest it’s been since 2013. The seasonally adjusted figures from September show an overall drop in lending of 3.8 per cent from the previous month. Owner-occupiers fell the most, down 4.2 per cent from last…
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Elevate Podcast
Episode 68: Edward Smyth and Karen Stewart on building a team and playing to your strengths
On paper Edward Smyth and Karen Stewart’s partnership seems peculiar. Coming from very different backgrounds, Karen has been in real estate for 15 years on the Gold Coast whereas Ed joined the industry just two years ago after working as an investment banker in the UK, it’s hard to see how their styles would mesh. But in this episode of…
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Supplier News
Link Group to acquire econveyancing platform PEXA for $1.5 billion
Link Group and its partners, including Commonwealth Bank of Australia and Morgan Stanley Infrastructure, have announced their final bid for PEXA has been accepted. Link, which already owns 30 per cent of PEXA, initially made a bid earlier in the year which was knocked back due to PEXA’s plans to list on the Australian Stock Exchange. However, the company was…
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Franchise News
CBRE Group moves into co-working space with the launch of CBRE Hana
Commercial real estate services firm CBRE has declared a move into the flexible working spaces sector with the creation of CBRE Hana, a new division which the agency says will partner with property owners to provide workspaces. Hana will design, build and operate the co-working facilities and services, in partnership with institutional property investors. In a statement, CBRE president and…
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Franchise News
Professionals continue their support for the National Breast Cancer Foundation during Pink Ribbon Month
Since 2003, Professionals has been a proud partner of the National Breast Cancer Foundation (NBCF), with offices donating a portion of the commission from each property sale along with holding fundraising events throughout the year. As one of only two Diamond Partners of NBCF, along with Ford Australia, Professionals offices take part in fundraising, particularly during NBCF’s Pink Ribbon Month,…
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Elite Agent
John McGrath reveals his top suburbs for 2019 in annual report
The 2019 McGrath Report has been released. In it, several trends to watch for 2019 are named, alongside John McGrath’s suburb picks. In his opening letter, Mr McGrath backed up his thoughts that the expected market corrections would not be as dire as predicted in media reports, saying that the current five – 10 per cent drop will likely be…
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EPM: Feature Interview
Learning to fly: Tameka Smith
Taking out the number one spot in PM Transform 2018 wasn’t the goal for Tameka Smith when she decided to enrol. The director of Key2 Property in Launceston didn’t even realise the program had a competitive aspect, just entering because of her love of training. But her dedication to betterment in both herself and the industry saw her top the leaderboard.…
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Franchise News
Sam Outch joins DiJONES Beecroft
The team at DiJONES Beecroft has been enhanced with the appointment of sales agent Sam Outch, who will focus on the Cherrybrook area. DiJONES CEO Rob Ward said Sam’s appointment fits into the business’s strategic plan of investing in new talent through coaching and mentoring. “As a local, Sam’s knowledge of Cherrybrook is outstanding,” Mr Ward said. “Since commencing his real estate…
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Industry News
Banking Royal Commission releases interim report: What you need to know
The Royal Commission released their interim report last week from the investigation into Misconduct in the Banking, Superannuation and Financial Services Industry. The report has called into question how buyers are assessed for loans and is likely to mean serviceability will continue to tighten. The report also called ASIC into question for failing to police the banking sector and highlighted…
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Industry News
Majority of NSW markets in decline as SA and QLD heat up in October 2018: Herron Todd White
The October 2018 issue of the Month In Review report from independent property valuation and advisory firm Herron Todd White shows that the majority of markets in New South Wales are either at their peak or declining, while Brisbane and Adelaide are still on the rise. Residential According to the firm’s Residential Property Clock, NSW’s North Coast region, including Coffs…
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EPM
Queensland becomes next state to face widespread rental reforms
The Queensland Government has announced a state-wide consultation to be followed with reforms to residential tenancy laws for renters and property owners. The consultation began on 30 September and will involve renters, landlords and real estate agents being contacted and asked for their views around the changing market and how successful the current system is. The reviews of the 40-year-old…
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Industry News
“Legislative and regulatory disaster”: REINSW hits out at NSW Fair Trading
With a public letter of resignation, the Real Estate Institute of New South Wales has resigned from the Real Estate Reference Group and their position of providing real estate consultancy services to NSW Fair Trading. “Throughout the term of RERG, NSW Fair Trading has exhibited a demonstrable obedience to misguided philosophical views which have impeded, or entirely restrained, many beneficial…
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Feature Interviews
No plan B: How Matthew Farrugia conquered the Central Coast in 12 months
Real estate wasn’t always the goal for Matthew. He was working in a golf shop, trying to break into the golfing industry, when he first thought about making the switch. Through his work he had met several agents, and when he expressed an interest one of them offered him a job. “I walked in on my two-year anniversary at the…
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