News Room
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INDUSTRY NEWS
New home lending falls to lowest level in three years
New home lending has fallen to the lowest level in three years as industry experts believe it's time for the RBA to stop hiking interest rates. …
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BTW
Ray White SA’s top salesperson opens new business
Matthew Lindblom, Chief Executive Officer of Ray White South Australia, congratulated Stefan Siciliano on the launch of his new business. The Announcement: Top Ray White South Australian agent Stefan Siciliano has opened Ray White Prospect to service Adelaide’s inner suburbs. Mr Siciliano has been named the network’s top salesperson for three years running after beginning in the industry seven years ago, …
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INDUSTRY NEWS
Auction volumes drop across Sydney in November but sentiment starting to change
Sydney auction volumes have halved compared to this time last year as uncertain vendors have moved across to private treaty sales according to an expert. …
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Celebrity Homes
Mark Wahlberg relists Beverly Park mega-mansion at a lower price
Mark Wahlberg has relisted his luxury Beverly Park mansion and is looking at taking a US$8 million haircut in the process. …
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INDUSTRY NEWS
Cash rate expected to rise again on Tuesday
The odds of another cash rate rise at this month’s Reserve Bank of Australia (RBA) meeting remain high, with 88 per cent of experts tipping another hike is on the cards. …
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INDUSTRY NEWS
Vacancy rates hold steady in November
Vacancy rates across the country remain at record low levels, holding steady at 0.8 per cent according to Domain. …
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BTW
‘Job crafting’ the new Harcourts NSW BOM role
The appointment has paved the path for a new opening within the Harcourts corporate team as they begin to actively search for a specialised admin support role to underpin the entire team’s day-to-day activities. The Announcement: The innovations continue at Harcourts with the creation of a new position. Harcourts New South Wales is delighted to announce that Corie Forsack has been promoted to Business Operations & …
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BTW
McGrath South Yarra expands with Hayden Melbourne to spearhead growth
The expansion, according to Charlie Clemons and Shaun Broadbent, the principals of McGrath South Yarra, was a significant accomplishment for the company and would give the team an opportunity to grow following the hardships of the pandemic. The Announcement: McGrath South Yarra has announced plans to expand through Melbourne’s Inner East as it joins forces with Hayden Melbourne, an agency with a near 100-year legacy in Victoria. …
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WEIRD AND WONDERFUL
First metaverse residential skyscraper takes shape
The first metaverse residential skyscraper is officially under construction as virtual real estate continues to grow in popularity. …
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Celebrity Homes
Steph Curry quietly sells mansion for $31 million
NBA superstar, Steph Curry has quietly offloaded his California “dream home”, for US$31.2 million. According to The Dirt, Singapore-based Chinese billionaire Forrest Li was the buyer, paying just US$150,000 more than the Golden State Warriors point guard spent on the mansion a little over three years ago. The contemporary stucco and glass structure sits on more than an acre of land and is hidden behind large gates in the Silicon Valley hotspot of Atherton. …
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INDUSTRY NEWS
Record low rental affordability puts low-income earners under severe rental stress
Surging rents and low vacancy rates are putting an increasing number of households under rental stress, with low-income earners the hardest hit according to a new report. …
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NEWS
Queensland housing crisis action plan revealed
A multimillion dollar cash injection to help struggling tenants stay in their homes, along with an audit of government-owned land will be among the Queensland Government’s response to the recent Housing Summit. …
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BTW
Stone Real Estate opens Central Sydney office in Waterloo
The Stone Real Estate network has continued its rapid growth in NSW. The Announcement: Boutique real estate firm Stone Real Estate has continued its rapid growth in New South Wales, with the addition of an office in Central Sydney. The newly launched Stone Waterloo will service Waterloo and surrounds, under the direction of Principal Sabrina Wang, and supported by a team of partners including Jane Wang, …
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BTW
The band is getting back together at RE/MAX
RE/MAX Australia Managing Director Joel Daveron credits the return of Kai Evans to the growth in the RE/MAX Bayside business. The Announcement: In another big move on the Brisbane Bayside – well know Redlands Agent Kai Evans has returned to RE/MAX. Kai is no stranger to the red, white and blue commenting that his most enjoyable years were while he was with the brand. …
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FRANCHISE NEWS
UrbanX named 24th fastest growing new company in Australia by AFR
Revolutionising an industry is no easy task but it’s a challenge that UrbanX has taken on. And they are off to a flying start being named #24 in the Australian Financial Review’s illustrious Fast Starters list. …
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National
Property values fall for seventh consecutive month
Property values have dropped more than $50,000 since their peak in April according to the latest CoreLogic Home Value Index. …
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INDUSTRY NEWS
Home prices fell in November as rates pressure buyers
Interest rate pressure is contributing to the “downward trend” in home prices, with new data showing values declined again last month. …
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INDUSTRY NEWS
The Agency expansion gathers momentum with Rockhampton launch
National real estate group The Agency has continued its expansion in Queensland, launching an office in Rockhampton. …
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COMMERCIAL
Long-term commercial investments still performing well
Despite rising interest rates and slowing growth in 2022, commercial property has continued to perform strongly over a long period of time according to an expert. …
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Celebrity Homes
Country star Kacey Musgraves sells Nashville home for $2.5 million
Country music singer Kacey Musgraves has officially sold her chic Nashville pad to fellow musician Kelsea Ballerini. According to architecturaldigest.com, Ballerini paid US$2.5 million for the four-bedroom, three-bathroom traditional-style house. The private home boasts 324sq m of internal living space and is surrounded by a forest of greenery and sits at the end of a long driveway. The singer hired interior designer Lindsay Rhodes to transform the home to incorporate Musgraves’s eclectic collection of secondhand furniture and decor. …
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INDUSTRY NEWS
Otago named Australia’s most family-friendly suburb
It’s getting easier for homebuyers to get into family-friendly suburbs as more stock comes onto the market according to new research. …
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INDUSTRY NEWS
Prime residential price growth to slow in 2023
Prime residential property prices in Sydney and Melbourne are expected to remain flat next year, after performing well in 2022, according to a new report. …
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BTW
Rising star Marcus Hejtmanek joins Adrian William
With six years of experience working in high-performing teams, Marcus Hejtmanek has forged a reputation of excellence across the Lilyfield-Rozelle-Leichhardt region. …
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NEWS
A prosperous pathway in property: Joanne Patamisi joins Cirrus8
Property professionals have endured turbulent times. Now, more than ever, there is a growing need for an accessible and reliable property management and trust accounting solution. …
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BTW
Ray White powerhouse expands to Croydon
Chief Executive Officer of Ray White Victoria and Tasmania, Stephen Dullens congratulated James Wilson and Patrick McConnachie on their expansion to Croydon. The Announcement: The powerhouse team behind the Ray White Ferntree Gully office has expanded to Croydon with local real estate expert James Wilson at the helm. Mr Wilson is a true Croydon local and intimately understands the benefits of the area and the Croydon community. …
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INDUSTRY NEWS
Unit growth falls into negative territory
Annual growth for units across the country has slipped into negative territory, with values down 1.4 per cent compared to this time last year, according to CoreLogic. …
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WEIRD AND WONDERFUL
A technicolour butterfly house on the market in California
A psychedelic home that was designed for a woman who was losing her eyesight is officially on the market in …
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Celebrity Homes
Chris Martin set to build lavish new Malibu home
Coldplay frontman, Chris Martin is finally getting set to build his long-planned luxury residence in Malibu, nearly a decade after purchasing an oceanview home that he planned to knock down and rebuild. …
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BTW
Colliers Izabella Minas secured two deals within her first month of joining the CBD office leasing team
She’s one of two female property young guns to have taken the office market by storm in 2022. The Announcement: Izabella Minas has recently joined Colliers in Melbourne as Executive of Office Leasing. She will focus on the middle markets within the CBD office leasing team, located in Colliers Melbourne CBD office. Despite her young age, Izabella has gained valuable exposure to various parts of the property sector in her previous roles, …
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INDUSTRY NEWS
Tenancy law reforms haven’t stopped investors
Tenancy law reforms in NSW and Victoria have only had a small impact on landlords’ decisions to purchase or sell rental properties according to new research. …
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INDUSTRY NEWS
Agent of the year on the property marketing tool you need in 2023
Brisbane Inner West Realty Director Kathleen Luck is doubling down on technology to take her property marketing to the next level in 2023, and says other agents need to do the same to set themselves apart. …
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INDUSTRY NEWS
Renters now need to work six hours more to pay rent than before the pandemic
Rising rents are forcing US tenants to work more than six extra hours per week, just to afford the same property compared to prior to the pandemic. …
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SUPPLIER NEWS
Properties selling faster than prior to the pandemic
Despite overall demand slowing down since the peak of the boom, properties across the country are still selling faster than they were before the pandemic, according to new data. …
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BTW
LJ Hooker’s award-winning team opens new office in Perth
The LJ Hooker network has expanded its presence in Perth’s high-growth north coast region ahead of the completion of the upcoming $713m Yanchep Railway extension. …
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INDUSTRY NEWS
Vendors slash asking prices as selling conditions get tougher
Some vendors across Sydney are cutting their asking prices by as much as $800,000 as the market continues to shift. …
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