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INDUSTRY NEWS
Perth’s 10 cheapest suburbs within 10km of the CBD revealed
REIWA President Hayden Groves said there was great opportunity for Perth home buyers close to the city. “Buyers in Perth really are in an enviable position. It’s unheard of in other parts of Australia, particularly in Sydney and Melbourne, for buyers to be able to purchase a house close to the city for less than $530,000. “We are very lucky…
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FRANCHISE NEWS
Coast swells with RE/MAX agents
Eighteen regions now make up RE/MAX Asia Pacific, with delegates also coming from countries such as Canada, United States, United Kingdom, Poland, Argentina, South Africa and Italy. Many arrived early to partake in meetings or the charity golf day at Royal Pines on Tuesday and Wednesday. Indigenous dancers from Australia and New Zealand signal the start of the formal program…
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INDUSTRY NEWS
Banks shut the door on new interest-only borrowing
APRA’s June Quarterly ADI Property Exposures data released today shows a 7.0 per cent drop in interest-only terms for new lending from the previous quarter. The drop comes despite a 10.6 per cent rise in new lending in all categories since March 2017. RateCity.com.au Money Editor Sally Tindall said today’s APRA data showed banks had responded to the regulator’s demand…
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Real Estate News
Corelogic launches new generation Hedonic Index
CoreLogic, has launched its new-generation Hedonic Home Value Index using updated methodologies and processes to provide insights into housing market conditions across the regions of Australia. The upgraded Index, which will continue to be published on the first business day of each month, combines a property’s key attributes, such as land area, number of bedrooms, bathrooms and car spaces, with…
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COMMERCIAL
Maxcon to build Adelaide’s tallest building
Realm Adelaide developers, Parallel Property have announced that Maxcon is the successful builder who will be responsible for bringing Adelaide’s tallest tower, the $200m 40 story Realm Adelaide building to life. Set to change the Adelaide skyline forever, construction on Adelaide’s most exciting residential building project will start next month and the building will be completed by early 2020. Marcello…
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SUPPLIER NEWS
BRICKX Arrives in Adelaide with Bricks from $74
CEO Anthony Millet is pleased to offer investors continuing diversity and an alternative to the Sydney and Melbourne property markets. “We are thrilled to be expanding into Adelaide; our third capital city since launching in September 2016 and our 14th property,” Mr Millet said. BRICKX properties are each put into an individual trust and split into 10,000 units or “Bricks”.…
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Real Estate News
Auction volumes at their highest levels in 12 weeks
National auction clearance results for the week ending 27/08/2017 courtesy of CoreLogic Over the corresponding week last year, the clearance rate was 74.5 percent and 2,153 auctions were held. It is expected as more results are collected that the final auction clearance rate will revise lower to remain within the high 60 percent range, where clearance rates have been tracking since early…
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Real Estate News
Inner West market leader Luke Bellero joins The Agency
With more than 20 years of experience, Luke Bellero has worked with a number of major brands, including LJ Hooker and McGrath Estate Agents. And though he says it’s a big move, Luke Bellero is confident about the team and the brand he is joining. “The Agency, in my opinion, just have it all right! It’s bold, modern and fun…
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Real Estate News
CoreLogic Property Pulse 24 August: Housing turnover remains low
Housing turnover remains low despite strong selling conditions in Sydney and Melbourne, according to latest CoreLogic data. CoreLogic data confirms over the 12 months to May 2017 only 4.8 per cent of all houses nationally actually sold, highlighting just how little stock sells in a given 12-month period. Across house sales over the past 12 months, Tasmania recorded the highest…
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INDUSTRY NEWS
Greens’ rental policy threatens rental market: REIQ
According to a statement last week, the REIQ have criticised the rental policy platform by The Greens, saying it would see landlords’ rights decimated in favour of tenants’ rights with no thought to the future health of the state’s rental market. One-third of Queenslanders rent and the overwhelming majority of those rent from private landlords, therefore, the continued participation of property…
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INDUSTRY NEWS
Affordable housing south of Perth is key to real estate turnaround: Raine & Horne
That’s according to Craig Abbott, General Manager WA, Raine & Horne, who says the availability of affordable homes south of Perth with good rental yields will assist in getting the market back on track. “There is plenty of news suggesting that Perth’s real estate market is in a rebalancing phase,” Mr Abbott said. “I think it’s too early to call…
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FRANCHISE NEWS
Ray White wins Top Franchise Group in WA at REIWA.COM Awards
More than 700 real estate professionals and guests attended the 2017 reiwa.com Awards Ball at Crown Perth on Saturday night, which celebrated WA’s leading real estate agents and recognised them for their achievements in 2016-17. Ray White WA chief executive officer Mark Whiteman said he was delighted his network won the top honour at the esteemed REIWA.COM awards. “This is…
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FRANCHISE NEWS
Change of Guard at Stockdale & Leggo Manningham
Stockdale & Leggo have welcomed leading Principal, James Aldinger to the family with James’ recent acquisition of the Stockdale & Leggo Manningham office. With over 20 years’ experience across sales, project sales and property management, with the last 15 years running his own number of successful real estate agencies, Stockdale & Leggo Chief Operating Officer Anna Thomas, believes James is…
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INDUSTRY NEWS
realestate.com.au study reveals Australians not so neighbourly
The study surveyed Aussies’ regard, or lack of, for their neighbours. More than 15 per cent admitted they go out of their way to avoid speaking to a neighbour, while one in five revealed they’d previously had a dispute with someone living in their street. realestate.com.au Executive General Manager of Residential, Andrew Rechtman, said the findings showed that for the…
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INDUSTRY NEWS
Ex-CEO of LJ Hooker Joins LocalAgentFinder
LocalAgentFinder is a leading comparison platform that enables property owners to compare local real estate agents or property managers for their sale or leasing requirements. The business, led by Matt McCann, the former CEO of iSelect, is continuing to explore its strategic options including an Initial Public Offering (IPO) as part of its growth strategy. Mr Harrod is the current…
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Real Estate News
R&W Colours Up for Starlight Foundation
They took part under the red banner of Richardson & Wrench, wearing purple and yellow wigs for the Starlight Children’s Foundation. And, at the end of the 5km Color Run fundraiser around Centennial Park, the 120 R&W runners, smeared top to toe in bright paint, had collected more than $10,000 to make the lives of seriously ill children just a…
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Real Estate News
Preliminary clearance rate increases to 71.7 percent, while auction volumes remain steady
National auction clearance results for the week ending 20/08/2017 courtesy of CoreLogic Volumes continue to track higher than what was seen over the corresponding July-August period last year. Across the two largest markets, Melbourne’s preliminary clearance rate rose this week (77.7 percent), after last week’s final results saw a weakening in the rate of clearance, falling below 70 percent for the first…
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FRANCHISE NEWS
Di Jones expands into Inner West
Di Jones Real Estate CEO Rob Ward said many people may not even realise that Di Jones first started out in the Inner West before opening offices in Woollahra, where it has been part of the landscape for 25 years. “We have expanded to the Inner West for a number of reasons,” Mr Ward said. “Our strategic plan is driven…
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INDUSTRY NEWS
realestate.com.au unlocks homes of the future
Future Homes, created by Neighbourhood Films for realestate.com.au, showcases the convergence of changes across architecture, technologies, population and socio-cultural trends. From the tiny house movement to the latest in smart homes, realestate.com.au Creative and Video Manager Monique Knoblanche said the video series was an exploration into the progressive change taking place in the way we live in our homes. “We…
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FRANCHISE NEWS
Raine & Horne takes community approach with Local Hero campaign
“Our Local Hero campaign is a community-focused promotion that will support those sporting clubs achieving great things in their local communities,” said Angus Raine, Executive Chairman Raine & Horne. “Grassroots sports are the lifeblood of many Australian communities, yet they are often forced to operate on the smell of any oily rag. “We believe they deserve some financial support through…
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INDUSTRY NEWS
Perth rental market subdued in June qtr, annual leasing figures remain strong: REIWA
REIWA President Hayden Groves said although activity had dropped off across the metro area in the three months to June, annual activity levels had continued to improve. “The data for the June quarter 2017 clearly shows an uptick in activity on an annual basis across the board, which is pleasing. We’re seeing notably more properties being leased now than we…
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FRANCHISE NEWS
Stockdale & Leggo Wins Gold Stevie Award in 2017 International Business Awards
Stockdale & Leggo was named the winner of a Gold Stevie® Award in the Real Estate category in The 14th Annual International Business Awards. The International Business Awards are the world’s premier business awards program. All individuals and organisations worldwide – public and private, for-profit and non-profit, large and small – are eligible to submit nominations. The 2017 IBAs received entries…
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INDUSTRY NEWS
REA Group appoints Kerry Wong as CEO – Greater China
Ms Wong will be part of the Group’s Asian leadership team and report to REA Group Asia Chief Executive Officer, Henry Ruiz. She is responsible for overseeing and setting the digital strategy in Hong Kong, Macau, Mainland China and Taiwan, as well as leading a team across sales, marketing and operations. Ms Wong joins REA Group from PayPal where she…
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FRANCHISE NEWS
LJ Hooker and Facebook team up in game-changing digital strategy
The announcement forms part of LJ Hooker’s $1 million investment in the Spring launch of its integrated digital and social media platform, LJ Hooker Boost developed by the group’s innovation centre, LJX-Lab. LJ Hooker Boost is a custom-built, automated Facebook and Instagram advertising platform, powered by strategic partner Tiger Pistol, which will amplify the profile of agents, listings and generate…
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FRANCHISE NEWS
Karen Terry joins McGrath Estate Agents
Ms Terry joins McGrath Forestville/Manly having moved over from Ray White. Prior to real estate, Ms Terry worked in the media industry for more than 20 years, ultimately as Unit Manager for ‘A Current Affair’ on the Nine Network. Ms Terry said she was attracted to the McGrath brand for its professionalism, world-class marketing and technology. “The real estate industry…
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Real Estate News
Top NSW agent Catherine Murphy joins The Agency
“Catherine Murphy has proven to be an exceptional agent with over 20 years of experience in the Epping region of Sydney. We are absolutely honoured she has chosen to join The Agency after two decades with the same brand,” The Agency’s CEO Matt Lahood, says. After 20 years, it is a significant decision to move real estate brands, there were…
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INDUSTRY NEWS
Novice auctioneers raise $50,000 for charity: REINSW
REINSW President John Cunningham said the event is getting bigger and more competitive each year. “This year’s competition saw 66 competitors take part in ten heats right across NSW,” Mr Cunningham said. “Michael Garofolo, who has worked in hospitality his whole life before adventuring into auctioneering took out the title against 10 other finalists. “It’s a great way for the…
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Real Estate News
Auction volumes highest they’ve been for 6 weeks with a low 70’s clearance rate.
National auction clearance results for the week ending 13/08/2017 courtesy of CoreLogic This was the largest number of auctions held since the last week of June 2017 and approximately one third higher compared with the same week a year ago. However, as more results are collected it is expected that the final auction clearance rate will be revised lower to remain within…
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INDUSTRY NEWS
Demand for Australian property hits a new peak, REA Demand Index
According to the REA Property Demand Index, after a choppy few months, demand surged again in July with even the struggling WA market starting to hit its stride. Only one section of the Australian market, NSW apartments, saw a slight drop in demand. Chief Economist Nerida Consibee said, “Given that the state has been seeing decades of housing undersupply, this…
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FRANCHISE NEWS
Harcourts Group Australia Continues Market Share Growth
With an estimated market value in third position overall against all real estate groups nationally, Harcourts was the only national group amongst the top five to have effected an increase in market value over the past quarter reporting, according to CoreLogic. According to a release supplied by the company, of the seven states in which the national real estate franchise network…
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Real Estate News
First Home Buyers Returning to Housing Market
“The proportion of first home buyers, as part of the total owner-occupied housing finance commitments, increased to 15.0 per cent and is the highest since February 2014. The number of first home buyer commitments increased by 1.6 per cent for the month, following a 28.9 per cent increase the previous month and is the highest since October 2014, ” REIA…
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FRANCHISE NEWS
Michael Davoren to represent RE/MAX Australia at Global Franchise Forum
For the first time outside of the United States, six RE/MAX franchisees will meet as the Global Franchise Forum (GFF) at the RE/MAX Asia Pacific Convention on the Gold Coast at the end of this month, with their goal to bring information from the 100-plus countries in the RE/MAX network. RE/MAX Australia and RE/MAX New Zealand Managing Director, Michael Davoren,…
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INDUSTRY NEWS
2017 REINSW Awards for Excellence finalists announced
REINSW President John Cunningham said the Awards encourage, promote and recognise excellence in the real estate profession. “Being recognised as a finalist in the REINSW Awards for Excellence is an outstanding achievement,” Mr Cunningham said. “Over the past 20 years we have highlighted the best and brightest in the state and with professionalism at the top of our agenda in…
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INDUSTRY NEWS
Juwai.com Appoints Carrie Law and Georg Chmiel as CEO and Chairman
New CEO Carrie Law was most recently a senior international executive with the REA Group and the former General Manager of iProperty Group, which the REA Group acquired in February 2016. At REA, she led a successful two-fold business transformation, locally in Hong Kong and regionally at Group level, and achieved strong revenue growth and profitability from her first year.…
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Real Estate News
Walk A Mile In Their Shoes 2017 set for 1 September
At eight locations across Australia, Harcourts staff, family, friends and supporters will ‘walk a mile’ in women’s heels to show solidarity and bring awareness of violence against women. Raising funds through the group’s charitable arm, The Harcourts Foundation, all monies raised will support White Ribbon’s ‘Breaking the Silence’ prevention initiatives in primary and secondary schools. The fifth annual event aims…
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