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Real Estate News
Home prices are rising globally, but can wages growth keep up?
House prices have been rising around the world at the fastest rate in 30 years, however some countries might run into problems if wages growth can’t keep up, an expert has warned. Asset management firm Franklin Templeton, notes house prices have been rising globally over the past 12 months, thanks to a combination of low interest rates and monetary stimulus.…
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Real Estate News
Over 200 markets now in the million dollar property club
With property markets running hot across the country, a new report has highlighted that there are now 218 million-dollar areas across Australia.
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INTERNATIONAL
Smart home technology used by 10 million British residents in 2021
Smart home technology has made a major breakthrough in British mainstream culture over the past few years, reaching a new peak in 2021. There are currently 10 million United Kingdom (UK) residents using smart home technology, which allows consumers to control appliances, thermostats, lights and other devices remotely using a smartphone. The rapid adoption of this new technology is projected…
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BTW
DiJones all in for consumer centricity with launch of Conversational AI
As more consumers feel comfortable with and seek out new technology, DiJones believes now is the perfect time to introduce Artificial Intelligence (AI) into the real estate sector. The Announcement: Improving the customer experience and allowing 24/7 access to property information has seen DiJones roll out a new way to communicate with consumers. “The majority of consumers are very comfortable…
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Real Estate News
New listing volumes remain high despite fall in May
After a significant lift in volumes earlier this year, new listings fell for the second consecutive month a new report shows. While the rise in listing volumes earlier this year helped supply meet record-high buyer demand, the REA Insights Listings Report June 2021 showed a 4.4 per cent decline in May. Despite the slight drop in May, new listing volumes…
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Real Estate News
Boom in Aussies buying up restaurants, pubs, hotels and bars in regional centres
With international borders closed, regional Australia is seeing a dramatic surge in popularity. More people are moving out of the cities and into quaint communities. City slickers are looking for new careers and business opportunities, with regional Australia being bought up at record pace. Manenti Quinlan and Associates Director Leonard Bongiovanni said city residents are being wooed by the “fresh…
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TECH + SOCIAL
How AI and SMS automations have changed the way this agent works
Tristan Lovell recently had a chat with Sam Taylor, a sales agent at McGrath Estate Agents North Canberra, about Artificial Intelligence (AI) and automated two-way SMS conversations. The RiTA by AiRE Growth Specialist asked Sam how these two tech solutions changed his game and got him three extra listings in less than two months. When sales agents start working with…
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NEW ZEALAND
New Zealand’s property market upswing is nationwide
CoreLogic New Zealand takes an in-depth look at suburb-level property data, revealing a surprising market upswing. Upmarket shopping district Herne Bay remains New Zealand’s (NZ) most expensive suburb with a median value of $3.16 million. However, in terms of value growth, cheaper areas reign supreme. Reflecting better relative affordability and easier access for a wider range of buyers, Manunui in…
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BTW
McGrath opens new office in Lower Blue Mountains
As more Sydney residents expand their property search into the stunning Lower Blue Mountains, McGrath Estate Agents have opened a new office in order to service the increasingly popular regional New South Wales area. The Announcement: Leading residential group, McGrath Estate Agents, has opened a new office in a popular regional area of NSW. McGrath Lower Blue Mountains will be…
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BTW
LJ Hooker gives its agents a runway into spring
LJ Hooker has landed an exclusive partnership with Qantas Frequent Flyer. It hopes to incentivise new leads – people who are considering selling – to taking that first step in their journey. The Announcement: LJ Hooker, in partnership with Qantas Frequent Flyer, recently launched its latest campaign to drive customer engagement and lead conversion in the lead up to the…
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Real Estate News
Property fragment marketplace Bricklet enters investor partnership
The partnership between Bricklet and DDP Property is set to extend the benefits of property fragments to more than 30,000 investors. Bricklet currently processes $52 million worth of property fragments across Australia, with $15 million of the fragments owned by Australian investors. With more Australians unable to afford a full mortgage for a desired investment property, Bricklet aims to deliver…
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BTW
Historic Burwood Federation castle breaks suburb record
Richard Matthews Real Estate sold the 1907 home for $6.6 million. The Announcement: Richard Matthews Real Estate broke the Burwood suburb sales record on Saturday after selling an historic Appian Way property on Saturday. A tribute to the Richard Matthews team, the home passed in a $6.3 million before post auction negotiations saw it sell at $6.6 million, an enormous…
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BTW
Zillow’s new neural Zestimate makes home valuations more accurate
American online real estate marketplace company Zillow is using a human-like artificial intelligence to improve its national median error rate. The Announcement: Zillow today launches significant upgrades to its Zestimate® home valuation model. The changes allow the algorithm to react more quickly to current market trends and improve the national median error rate to 6.9% — an improvement of nearly a…
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BTW
State Budget a mixed bag: REIQ
The Real Estate Institute of Queensland is urging the State Government to do the heavy lifting across affordable housing, delivering First Home Owners Grant extensions and cutting stamp duty. The Announcement: The Real Estate Institute of Queensland has welcomed increased social housing and infrastructure spending in the 2021-22 Queensland Budget but has given a thumbs down to a lack of…
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Celebrity Homes
US Olympic boxing champion Sugar Ray Leonard lists Los Angeles mansion for US$46.5 million
Gold medal boxing champion Sugar Ray Leonard is one of the wealthiest boxers in the world. With an estimated net worth of US$120 million, it’s little surprise the US Olympian’s Pacific Palisades mansion has been put on the Los Angeles property market for a whopping US$46.5 million. It has been nearly three decades since Leonard purchased just two acres of…
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FRANCHISE NEWS
New Laing+Simmons office opening in Sydney’s Rooty Hill
Laing+Simmons Mount Druitt have set up shop in the Western Sydney suburb of Rooty Hill. Headed by Jack and Basel Nahas, the new office will service the growing Rooty Hill, Eastern Creek, Plumpton and surrounding areas. It is set to offer a full suite of real estate services to the local community, including sales, property management, auction services, project marketing…
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Elite Agent
Community housing in regional New South Wales has a 10 year waiting list
The Community Housing Industry Association NSW (CHIA NSW) is calling for urgent action to address the state’s social housing waiting list. There are more than 50,000 households waiting for up to 10 years or more for safe, secure and affordable community housing. CHIA NSW has warned that households on the social housing waitlist are paying unaffordable private market rents, couch-surfing…
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Real Estate News
Australia’s residential development market falls to a seven-year low
Just $4 billion of total residential site sales were recorded in 2020. It was well below the 2014 peak of $11.3 billion, according to Knight Frank’s Australian Residential Development Review 2021. The review also found the national apartment pipeline will drop over the next three years, with just 86,400 new apartments planned across Sydney, Melbourne, Brisbane, the Gold Coast and…
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FRANCHISE NEWS
Belle Property Canberra celebrates their big win at the REIA Awards for Excellence
Belle Property has been nationally recognised with two awards at the Real Estate Institute of Australia Awards for Excellence.
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National
Largest total value rise on record for residential dwellings
The total value of residential dwellings in Australia now exceeds $8 trillion, according to the Australian Bureau of Statistics (ABS). The ABS found the total value of Australia’s 10.6 million residential dwellings rose by $449.9 billion to $8,293.2 billion in the March quarter 2021. This was the largest rise on record for the ongoing study, which looked into the value…
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Elite Agent
Small town business owner achieves international success with LJ Hooker
LJ Hooker Waihi Beach owner Gary Alway has been recognised as a top agent internationally for the real estate giant. Gary reached the top 2.5 per cent of all LJ Hooker agents, with the brand boasting more than 500 offices internationally. The ranking rewards exceptional achievement and showcases the expertise of agents across the multitude of LJ Hooker offices. The…
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COMMERCIAL
REA Group partners with software provider Simpology
Real Estate Australia Group (REA) has acquired a 34 per cent interest in Australian software company Simpology. The software provider offers digital mortgage application and lodgement solutions for broking and lending industries. As a part of their new agreement, REA will take two seats on the Simpology Board. REA plans to use Simpology’s technology to facilitate direct transmissions of digital mortgage…
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Real Estate News
Market Buy and Podium join forces
Online offer management system Market Buy and review and text messaging service Podium have officially joined forces in a move they describe as a “win for agents”.
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BTW
Plan lodged for revitalisation of Cronulla CBD
The Sammut Group has lodged a plan for a $350 million revitalisation of Cronulla's CBD
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APPOINTMENTS
Another key industry executive joins Harcourts leadership team
High profile auctioneer Mitch Peereboom is joining the Harcourts group as Chief Executive Officer Queensland.
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BTW
Mergers herald new era for Herron Todd White
Herron Todd White is merging regional and city operations to create larger state entities
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BTW
SA house prices higher but first time buyers still coming
House prices might be rising but that’s proving no deterrent to first home buyers in South Australia The Announcement: The rising real estate market in South Australia over the past year has proved little deterrent for first time buyers looking to purchase property, according to REISA CEO, Barry Money. “Statistics show that increasing numbers of first-time buyers are taking the…
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Real Estate News
137 fines issued as NSW Fair Trading targets real estate compliance
NSW Fair Trading has been out in force in recent weeks, making sure agents are complying with legislation put in place to protect consumers.
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Real Estate News
New home sales strengthen in May
The Housing Industry Association (HIA) revealed there has been a 15.2 per cent increase in new home sales between April and May.
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Real Estate News
Australian property is selling faster than ever
Demand for property across the country is higher than ever with the average days on market tumbling last month.
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Real Estate News
Female real estate agents sweep the REIA awards
The winners of the 2021 Real Estate Institute of Australia National Awards for Excellence have been announced. Female real estate agents swept the board, winning eight out of 11 of the individual agent categories. REIA President Adrian Kelly said that from the 83 finalists there was an increase in female candidates in the different categories from previous years. OBrien Real…
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Real Estate News
Sales double in Perth suburbs as first-home buyer activity ramps up
New sales data reveals 10 Perth suburbs have more than doubled their sales volumes in the past year. The Real Estate Institute of Western Australia (REIWA) confirmed the March quarter saw strong sales growth across Perth. There was a 31 per cent increase when compared to the March 2020 quarter, but 10 suburbs stood out with more than 100 per…
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Real Estate News
Australian homes selling faster than ever
New statistics reveal properties across Australia sold at record speed in May. The REA Insights Housing Market Indicators report showed the average number of days on-site fell to a historical low of 32 last month. The June 2021 report combined eight key metrics to provide an up-to-date view of the property market and emerging trends. These metrics include search activity,…
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BTW
Buyers stretching debt levels as property prices rise
The Australian Prudential Regulation Authority says the debt-to-income ratio is rising. The Announcement: Australians are increasingly taking on risky levels of debt, new figures from the Australian Prudential Regulation Authority (APRA) have confirmed today. The value of new home loans with a debt-to-income ratio of six and over climbed to $23.77 billion in March. This is an increase from 16.3 per cent to…
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LEADERSHIP
Two Australian cities listed in the top five for entrepreneurial success
Sydney and Melbourne have been highlighted as two of the best cities in the world for aspiring entrepreneurs to start their own business.
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