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SUPPLIER NEWS
Storage start-up Spacer raises $2.7 million and acquires Parkhound
The key pillar to Spacer’s strategy has been to source, utilise and commercialise unused ‘space’, typically from households and small businesses. The next phase of growth will focus on offering commercial inventory and car park sharing with the acquisition of Parkhound. “Following our most recent round of funding, the second phase of business growth is focused on tapping into Australia’s…
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National
REAPIT looking to global expansion following US lead acquisition
The investment partnership combines the deep domain experience and strong track record of Reapit’s existing management team with Accel-KKR’s strategic expertise working with high-growth technology companies. The supplied press release indicated the partnership will enable Reapit to accelerate its growth and innovation, enhance products and services, and expand its technology offering. The Reapit senior management team will continue to be…
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FRANCHISE NEWS
RE/Max expands in Sydney’s West
RE/MAX Australia continues its commitment to New South Wales expansion, and the Sydney market in particular, with the opening of a second office for RE/MAX K1. Broker-owner David Kim returns to Eastwood where the experienced real estate agent is a familiar face. Mr Kim, whose real estate career spans two decades, launched RE/MAX K1 in Lidcombe earlier this year and,…
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Real Estate News
Auction volumes return to normal after long weekend
National auction clearance results for the week ending 08/10/2017 courtesy of CoreLogic Auction activity across the combined capital cities increased this week after last week’s grand final and public holiday slowdown. 2,286 homes were taken to auction, returning a preliminary auction clearance rate of 68.1 percent. The preliminary clearance was up from the 66.3 percent last week when volumes dipped significantly across…
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Real Estate News
Haydn Groves reappointed REIWA president
The REIWA governing Council has re-elected Hayden Groves as the Institute’s President after his term officially ended in September. REIWA CEO Neville Pozzi offered his congratulations to Mr Groves on his re-election. “Mr Groves has provided exceptional leadership to the Institute over the last couple of years, and I’m delighted to have him on board for REIWA’s 2018 centenary year,”…
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Real Estate News
Auction activity makes way for the footy and long weekend
National auction clearance results for the week ending 01/10/2017 courtesy of CoreLogic Despite lower auction volumes, clearance rates held firm, returning a preliminary result of 69.4 percent, rising from the 66.2 percent last week when final results saw volumes reach their highest level since May this year (2,782). Melbourne was the main driver of the strong clearance, with a preliminary result just…
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Real Estate News
National award for RE/MAX recognises expansion and support
RE/MAX Australia’s Joel Davoren this week announced the real estate franchise’s inclusion in the 2017 Topfranchise Awards as listed by SEEK Business and 10 THOUSAND FEET. “We are rated in the top ten winners for expansion and support, which is affirmation that we are on track with our core business values and beliefs. “Growth is one of the five RE/MAX…
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INDUSTRY NEWS
Di Jones adopts Pound Paws
Di Jones CEO Rob Ward said the aim of Pound Paws is to encourage the public to adopt puppies online and discourage backyard breeders that contribute to the oversupply of dogs and cats in Australia. “A visit from Wookie, a Lhasa Apso crossed with a Maltese and Jalepeno, a Kelpie cross, meant it was an exciting morning for our Di…
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Real Estate News
Spring Selling auction volumes continue to rise across the combined capital cities
National auction clearance results for the week ending 24/09/2017 courtesy of CoreLogic Auction volumes have increased across all but one of the capital cities this week with a total of 2,759 homes taken to auction, making it the busiest week for auctions since the end of May. So far, 2,226 results have been reported to CoreLogic, returning a preliminary clearance rate of…
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FRANCHISE NEWS
Stephen Bock re-joins McGrath to cover the Northern Beaches of NSW
McGrath Estate Agents today announced Stephen Bock has joined its company owned sales team on Sydney’s northern beaches, specialising in the key suburbs of Manly, Fairlight, Balgowlah, Balgowlah Heights and Forestville. Mr Bock brings with him more than 18 years of sales experience and has sold close to $1 billion dollars in real estate over his career. He returns to…
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FRANCHISE NEWS
Driven to Success: Michael Willems
Superstar agent Michael Willems can boast being the first agent in the Ray White Group to reach over $1 billion in settled sales. But he never would. It’s not his style. It’s simply not in the DNA of the 47-year-old agent from the powerful Ray White Surfers Paradise Group to show off. The hallmarks of Willems’ success are the fact…
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FRANCHISE NEWS
Maatouks Realty rebrands to Raine & Horne Narellan
Lawyer and entrepreneur Peter Maatouk has launched Raine & Horne Narellan in the heart of Sydney’s Macarthur region. Mr Maatouk, who is the principal of Maatouks Law Group that has offices in Narellan, Liverpool, and Penrith, has been delivering general practice and property law services since 1993. The firm launched a mortgaging broking business in 2000 and Maatouks Realty in 2007. “As…
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Real Estate News
Auction volumes increase with clearance rates remaining representative of the state of the market.
There were 2,490 auctions held across the combined capital cities this week, up from 2,258 last week, making it the busiest week for auctions since the beginning of June. Based on preliminary results, the combined capital city clearance rate was recorded at70.3 percent this week, up from 66.9 percent last week, although this will likely revise lower over the next…
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Elite Agent
NSW Fair trading update on deadlines, by-laws, fire-safety, fraud prevention and holiday lettings
Real estate audit deadlines NSW Licensees are reminded that the deadline for real estate audits is 30 September 2017. The qualified audit must be lodged within 3 months after the end of the audit period and for most agents, must be submitted with the Director-General by the due date. If a qualified trust account audit is not lodged by the…
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FRANCHISE NEWS
Harcourts announces property styling program ‘Harcourts at Home with Sean & Ella’
Property in Tasmania may have just gotten a little more stylish as Harcourts have joined forces with House Rules 2017 contestants Sean MacKay and Ella Cuthbert in an exclusive collaboration to launch ‘Harcourts at Home with Sean & Ella’. The collaboration includes a property consultation service offered to home sellers and buyers through the Harcourts network. “Sean and Ella won…
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OPINION
Short-term letting only suitable for some
Di Jones Head of Investment Management Bridgette Barker said with increases in the cost of living any owner of a property can tap into these services to help with rising expenses. “While people are taking up the opportunity, less than 1 per cent of our rental roll has decided to put their homes onto the short-term market in the past…
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FRANCHISE NEWS
Ray White NSW Celebrates its Best
More than 1200 real estate agents and guests arrived at the International Convention Centre in Sydney to celebrate their achievements at the annual Ray White New South Wales state awards last night. Ray White Double Bay had a successful night at the awards, picking up number one city office in settled commission while its elite agent Gavin Rubinstein took out…
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FRANCHISE NEWS
One agent, $50 million in sales, 19 days
Rubinstein has just sold close to $50 million worth of real estate in only 19 days – that’s over $2.5 million a day for that period. This is in contrast to what many commentators are reporting of a slowing market and low house sales, each of the nine sales was a bullish result individually. Rubinstein continues to find motivated buyers…
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FRANCHISE NEWS
RE/MAX Auctioneer showdown on convention stage
Greg Parker from RE/MAX Regency, Robina, had claimed the title in 2015, while Paul Gaffney from RE/MAX Executives, Holland Park was last year’s winner. With New Zealand contender Eric Chase from RE/MAX Zest in Remuera unable to make it to the Convention because of unforeseen circumstances, Ben Kloppers from RE/MAX Realty Group in Warkworth nobly stepped in and gave the…
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INDUSTRY NEWS
Investors finally get the APRA message; RateCity
The most recent round of bank rate hikes have pushed would-be investors over the edge, resulting in a sharp drop in investor housing commitments, according to RateCity. ABS Housing Finance data released last week shows the value of investment housing commitments in July fell by $460 million or 3.9 per cent from the previous month, according to the seasonally adjusted…
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Real Estate News
WA State Budget a positive for property investing, say Momentum Wealth
The WA Labor government have delivered their first state budget, and as Treasurer Ben Wyatt and Premier Mark McGowan have previously indicated, the burden of amending the State’s financial situation will be indirectly shared by all West Australians. However, from a property investment perspective, the budget was relatively positive as there were no direct increases to property costs for residents…
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Real Estate News
Government Policy Drives First Home Buyers
“First Home Buyers are returning to the market in NSW and Victoria off the back of enhanced Stamp Duty concessions in these markets,” stated Tim Reardon, HIA’s Principal Economist. “In July 2017 – the first month that these concessions took effect – the volume of First Home Buyers in NSW jumped to its highest level since 2012, increasing their share…
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COMMERCIAL
realcommercial.com.au launches a new investment search experience
Investors looking for commercial property in Australia are one step closer to finding the right place for them thanks to ‘Invest’, a new digital search experience launched by realcommercial.com.au. One-in-four people visiting realcommercial.com.au are searching for a property to buy as an investment1, with demand highest in Melbourne, Sydney and Adelaide. The new search experience is a key part of…
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Real Estate News
Preliminary clearance rate holds above 70 percent however final results tell a different story
National auction clearance results for the week ending 10/09/2017 courtesy of CoreLogic It will be interesting to see what the final clearance rate looks like on Thursday once the remaining records have been captured. Auction volumes increased week-on-week with 2,225 properties taken to auction this week, up from 2,074 last week, and higher than this time last year (2,062). Across Melbourne, preliminary…
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INDUSTRY NEWS
Master Builders Association calls for better regulation of the building industry’s use of cladding
“It’s completely understandable that fires at the Grenfell Tower in the UK and the Lacrosse building in Victoria have highlighted the importance of a regulatory system that has the confidence of both the community and the building industry,” she said. “As Master Builders has consistently said, the challenge is to make more effective the extensive and robust regulatory regime that…
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Real Estate News
REIQs most capped Auctioneer wins again
Mr Nickerson, who has won the REIQ title a record-smashing four times (2013, 2016, 2017, 2018), is the first Australian and only the third auctioneer in history to win back-to-back Australasian titles, after New Zealand’s Mark Sumich (2007, 2008) and Daniel Coulson (2012, 2013). “This is unbelievable, it’s just incredible,” a dazed Mr Nickerson said immediately following the announcement. “This…
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INDUSTRY NEWS
Perth’s stable house and rent medians good news for the market: REIWA
REIWA President Hayden Groves said it was encouraging to see the median price remain firm across both sectors of the Perth property market. “The stable medians are good news and indicate that seller’s and landlord’s expectations are matching those of buyers and tenants,” said Mr Groves. According to the latest reiwa.com data, listings for sale have continued to trend marginally…
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FRANCHISE NEWS
Richardson & Wrench Stars Shine Bright at the 2017 Annual Awards
The depth of talent within the Richardson & Wrench group has been highlighted by some outstanding performances across all of R&W’s markets. A true standout was Bondi Junction Principal Andre Frack claiming three of the most coveted trophies at the group’s annual awards on Saturday. Frack won the Most Outstanding Principal, both transactions and income earned, and took out the…
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Real Estate News
Auction volumes fall with the clearance rate clinging to 70 percent
National auction clearance results for the week ending 03/09/2017 courtesy of CoreLogic The final clearance rate across the combined capital cities has been sitting in the mid-high 60 percent range since June and it is likely that this will be the case again on Thursday when our final results are published. All but two of the capital cities saw the clearance rate…
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Core Logic Home Value Index August 2017
Using the upgraded hedonic index methodology, the CoreLogic August home value index results for the month confirm a slowdown in housing market conditions in Sydney, while Hobart emerged as the country’s best performing capital city based on growth in dwelling values over the past twelve months. National dwelling values remained flat during August, with capital city values edging 0.1% higher.…
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FRANCHISE NEWS
Stockdale & Leggo Expands into Footscray
With over 10 years’ experience across sales in the Melbourne real estate industry, Stockdale & Leggo Chief Operating Officer Anna Thomas believes new franchisee Anil Salimeda is an excellent addition to the Stockdale & Leggo group and their expansion into in the Footscray area. “Footscray has been on our agenda for some time now and we’ve been waiting for a…
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Real Estate News
John McGrath says no chance of a 40% correction in Sydney market
“The Sydney market is most of the way through its sales cycle and very near the top of its cycle. My view is there is no bubble and no chance of a 40% correction.” said Mr McGrath “The market continues to have strong drivers including deep demand, populations growth, overseas investment and low interest rates. There is a possibility of a small…
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Real Estate News
Education hot spots driving house price growth: REIV
Homes zoned for some of Melbourne’s top performing public schools are delivering six-figure dividends for property owners, compared to neighbouring homes outside the catchment. In the year to June 30, the largest price difference was recorded for homes located within the catchment area for South Yarra Primary School. Homes within the zone had a median price of $2 million while…
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FRANCHISE NEWS
McGrath tips Geelong as a strong performer this Spring Office reports upturn since joining the brand
McGrath Founder John McGrath said Geelong is well positioned for growth with many new Government departments and infrastructure setting up in the CBD, which is driving demand for residential property. “Geelong is becoming a hub for many medical, tech and government organisations, which has been a very positive economic driver for the area,” said Mr McGrath. McGrath Geelong Co-Principal David…
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INDUSTRY NEWS
New Home Sales Continue to Ease from Record Highs
“July’s result was driven by a 15.7 per cent decline in multi-unit sales and a more measured reduction in detached house sales. The large drop in multi-unit sales this month is in contrast to strong sales volumes late in 2016 and early 2017,” outlined Mr Reardon. The HIA New Home Sales report – a monthly survey of the largest volume…
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