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National
Auction volumes surge past 2000 across the country for the first time in 2017
Auction volumes surge past 2,000 for the first time this year across Australia’s combined capital cities, with CoreLogic’s preliminary clearance rate reaching 77 percent. National auction clearance results for the week ending 19/02/2017 courtesy of CoreLogic The combined capital city preliminary clearance rate remained in the high 70 percent range over the week, despite auction volumes reaching the highest level so far this…
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Real Estate News
RE/MAX rewards its best of 2016 in a gala event
RE/MAX Australia announced its top performers for 2016 at a gala event held at Brisbane City Hall this month (16th February) and celebrated an exceptional year of growth and innovation. Keeping with tradition, the network’s ultimate individual honour, The Eagle Award, was the final announcement for the evening, with Murray Carter, broker-owner of RE/MAX Regency the 2017 recipient. RE/MAX Regency…
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FRANCHISE NEWS
Raine & Horne targets Dubai tourism market with new holiday letting business
Raine & Horne has launched a holiday rental business in Dubai, becoming the only Australian property firm with a vacations business in the UAE. Launched in January, Raine & Horne Holiday Homes is led by co-principals Shine Sunny and Sanjay Chimnani. “Between Sanjay and Shine, Raine & Horne Holiday Homes has real estate, hospitality, marketing and PR experience, and this…
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Real Estate News
REA Group Posts Strong H1 Result for Investors
Last week, REA Group announced its results for the half year ended 31 December 2016. Financial Highlights, despite lower total listing volumes overall, include: Revenue growth of 16% An increase in EBITDA of 13% Interim dividend of 40 cents per share, up 11% The revenue growth is attributed to a 13% increase in the Australian residential business, plus inclusion of iProperty revenue,…
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National
Preliminary clearance rates surges to 76.6% as auction numbers trend higher
It has been a strong week for auction activity across the capital cities, with the number of auctions more than doubling compared with last week in Sydney and Melbourne. National auction clearance results for the week ending 12/02/2017 courtesy of CoreLogic Despite the surge in the number of auctions held, the combined capitals regions recorded a preliminary auction clearance rate of 76.6 percent,…
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Real Estate News
Key school catchment zones record more than 5x growth of capital cities: Domain
Annual house price growth figures in key government school catchment zones are outpacing capital city growth by more than five times in some key areas, according to Domain’s Annual School Zones Report. With the new school year just underway, Domain last week released its Annual School Zones Report, uncovering the primary and secondary government school catchment zones that have experienced…
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INDUSTRY NEWS
Where do properties sell fastest in Australia, CoreLogic Property Pulse
Melbourne properties sell the fastest of any capital city according to CoreLogic’s latest Property Pulse Market Update report. Melbourne dwellings took an average of 35 days to sell in December 2015 with the figure falling to an historic low of 29 days at the end of 2016 while the typical Sydney dwelling sold after an average of 33 days in…
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INDUSTRY NEWS
RealSatisfied and reiwa.com AgentFinder partner to help set higher standards in WA
RealSatisfied and reiwa.com AgentFinder have partnered to create an effortless way for West Australians to find trusted, credible and reliable real estate professionals online. RealSatisfied is a customer satisfaction platform which collects customer feedback at the close of a real estate transaction, founded in Australia and now a leading platform in the United States real estate industry. From February 2017,…
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National
Auction volumes double over the week, coming out of the seasonal slowdown
National auction clearance results week ending 05/01/2017 The auction market will start to gather momentum coming into February after the seasonal slowdown over the holiday period, with auction numbers doubling over the week across the combined capital cities. There were 867 auctions being tracked by CoreLogic this week, with a preliminary clearance rate of 70.8 percent, compared to last week’s…
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Real Estate News
December building approvals fall: ABS
The latest building approvals data, released by the Australian Bureau of Statistics on Thursday, confirms that the housing market is very much a Sydney and Melbourne story. “Building approvals fell by 6.3 per cent in NSW, underwriting a fall in total dwelling units approved of 1.2 per cent over December 2016. Meanwhile, Victoria has sustained a small rebound in total…
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Real Estate News
Perth property market rises in December quarter
Perth’s median house price showed signs of strength in the December quarter, with the preliminary median for the three months to December 2016 holding firm at $520,000. Real Estate Institute of Western Australia (REIWA) President Hayden Groves said this preliminary figure was the same as the revised September quarter 2016 median house price. “It’s a very good sign for the…
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Real Estate News
O’Brien Real Estate branches out in Melbourne, with two new offices
Melbourne-headquartered O’Brien Real Estate will open two new offices in the first quarter of the year – making its total headcount to 19 offices, a long way from where they started six years ago. Last month, the company unveiled its 18th office located at 951 Nepean Highway, Bentleigh, which will service suburbs such as Highett, Bentleigh East, Hampton East and…
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FRANCHISE NEWS
Coronis rewards landlords with new Advantage Club
South East Queensland real estate business Coronis has launched a new loyalty program to reward and thank their landlords for their ongoing support. The Coronis Advantage Club is exclusively for the company’s 7000 landlords who will now receive a variety of discounts on real estate services offered by Coronis and their referral partners including selling fees, financial services, building and…
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INDUSTRY NEWS
Real Estate Agencies no longer in Fair Trading’s bad books
The New South Wales Fair Trading recently released its December 2016 Complaints Register, noting that for the first time in the register’s history there are no real-estate agencies on the list. Fair Trading publishes its Complaints Register monthly, listing businesses that are the subject of 10 or more complaints to the agency in the previous calendar month. Since the launch…
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FRANCHISE NEWS
Ray White exceed $70m at auction on the Gold Coast
Ray White offices across the Gold Coast collectively auctioned nearly 200 properties and sold $72 million worth of real estate in one week. Dubbed “the grand final of auctions”, Ray White Surfers Paradise Group’s annual auction extravaganza, The Event, was held last Sunday and showcased 130 homes. Selling over $40 million in one day, 2,000 people were in attendance with…
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Real Estate News
Smoke Alarm Solutions to empower property management leaders at ALPPPS
Smoke Alarm Solutions (SAS), one of the largest providers of smoke alarm compliance and maintenance services to the Australian real estate industry, is coming on board at ALPPPS 2017 to empower property management leaders with smoke alarm best practice. Taking place on 2-3 March, the ALPPPS property management leadership summit helps principals, team leaders and career property managers move mountains…
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INDUSTRY NEWS
REIA calls for action on affordable housing and property taxation
REIA’s Pre Budget Submission to Government focuses on taxation as it relates to property and the need for a holistic approach and housing affordability including the need to address the rapid decline in the number of first home buyers. The Submission notes that dwelling investment supported by historically low interest rates has been a significant contributor to growth in the…
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Elite Agent
New NSW Cabinet line-up welcomed by Green Building Council of Australia
The Green Building Council of Australia (GBCA) has welcomed the New South Wales cabinet and is looking forward to work with Premier Gladys Berejiklian and her team to build a healthy, livable, sustainable future. Anthony Roberts, who has previously held the position of Energy Minister, takes on the role of Minister for Planning and Minister for Housing, while former Attorney-General…
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INDUSTRY NEWS
Window closing for buyers as Darwin’s real estate market rebounds: Raine & Horne
After two challenging years for the real estate market in Darwin, the number of buyers has increased threefold in the first month of 2017, according to Raine & Horne Darwin. “We hosted an average of 4.5 groups at every open home in January. We were lucky to attract an average of 1.5 groups over the last two years,” said Glenn…
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INDUSTRY NEWS
Queensland rental markets tighten in December 2016 quarter: REIQ
Queensland’s rental market improved over the December quarter with many markets behaving as forecast, returning to more traditional vacancy rates after an unusual September quarter result. REIQ CEO Antonia Mercorella said, generally speaking, the year ended on a steady note. “The data has shown that supply and demand in the rental market is fairly evenly matched in the southeast corner.…
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INDUSTRY NEWS
CoreLogic Pain & Gain Report: September 2016 Quarter
The average profit on resale increases to $262,672 while average loss was $71,529 over the September 2016 Quarter, according to the latest CoreLogic Pain & Gain Report. The latest September 2016 quarter Pain & Gain Report produced by CoreLogic delivers a timely market analysis for residential property resales over the quarter by comparing the most recent sale price to its…
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Real Estate News
REINSW’s Tim Anderson recognised with OAM
Long-standing member of the Real Estate Institute of New South Wales and Life Fellow Tim Anderson has been recognised with the Medal of the Order of Australia in the General Division (OAM). REINSW CEO Tim McKibbin said throughout his career, Tim Anderson has actively promoted professionalism and integrity in the industry and has applied these attributes to all his activities.…
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INDUSTRY NEWS
Australasian Real Estate Results Awards 2017 Finalists Announced
The top performing independent real estate agencies and individuals across Australasia have been revealed last week as finalists in the 11th annual Australasian Real Estate Results Awards (ARERAs), to be staged in Sydney next month. Hosted by the Real Estate Results Network (RERN), the ARERAs is the industry’s pinnacle awards event that recognises and celebrates the outstanding achievers in property throughout…
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INDUSTRY NEWS
Domain House Price Report: December Quarter 2016
National prices have increased over the quarter, although the annual growth rate is the lowest since 2012 – according to the latest quarterly Domain House Price Report. Over the quarter, median house prices increased in all capital cities, except Perth and Darwin. The national median house price increased by 3.4 per cent to $780,887, the strongest quarterly result since the…
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INDUSTRY NEWS
Domain Rental Price Report: December Quarter 2016
House rents have increased in most capitals, with the rental market outlook looking positive for investors – according to the December quarter Domain Rent Report. Median house rents increased in Sydney, Melbourne, Brisbane, Adelaide, Canberra and Hobart. The resource capital of Perth continued to remain the clear exception to the trend, with high vacancy rates and rents continuing to fall.…
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Real Estate News
Realtor.com Unveils News Features For Instant Home Details with a Simple Point of a Smartphone
Realtor.com in the US this week announced two new products that Australia saw close prototypes of at AREC 2016; Sign Snap and Street Peek. The Sign Snap feature, available today, uses image recognition technologies, as well as the smartphone’s camera and GPS capabilities. Users can snap a photo of a real estate for-sale or for-rent sign they happen to be…
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Real Estate News
Super Sales Week for Ray White Coming Up on the Gold Coast
The Gold Coast property market looks as though it will be painted yellow in the final weeks of January with five of Ray White’s most prominent businesses conducting around 200 auctions in a nine-day period. The auction season kicks off this weekend with the Ray White Gold Coast South Network holding 38 auctions on 22 January at Twin Towns in…
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INDUSTRY NEWS
Premier Mike Baird leaves strong legacy, says Property Council NSW
In response to Mike Baird’s announcement to retire, the Property Council NSW has congratulated the outgoing NSW Premier on the strong legacy he will leave for the people of the state. Property Council NSW Deputy Executive Director Cheryl Thomas has commended Premier Mike Baird for implementing a range of reforms that have placed the state in a good economic position. “True to his…
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FRANCHISE NEWS
Belle Property opens first office in Melbourne
Boutique real estate group, Belle Property International is redefining real estate in Melbourne with the opening of their office in Docklands. A world-class concierge partner that represents both property developers and investors across Asia and Australia, Belle Property International Melbourne is set to deliver a personalised and unique approach to large scale projects. A well-respected expert who has been involved…
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INDUSTRY NEWS
Holiday season impacts vacancy rates: REINSW
Residential vacancy rates were affected by the Christmas period, according to data released by the Real Estate Institute of New South Wales. REINSW President John Cunningham said the December 2016 REINSW Vacancy Rate Survey was at 2.0 per cent, up 0.2 per cent for Sydney. “Middle Sydney and Outer Sydney saw rises of 0.6 per cent and 0.2 per cent…
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FRANCHISE NEWS
Laing+Simmons Scholarship Winner Lands Full-time Role
Prospect local Julia Sallows has been unveiled as the winner of this year’s Laing+Simmons Scholarship Program, the annual initiative designed to unearth talented agents of the future and kickstart their career in real estate. Julia’s win sees her join leading local real estate office Laing+Simmons Blacktown, where she’ll work alongside experienced sales specialist Mark Stone. Julia completed a week’s work…
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EPM
Help Owners Protect Their Investment with ‘Meth’ Education Program
The use of methamphetamine (meth) has tripled in Australia in the last five years. Many property managers have already seen firsthand the cost and hassle of cleaning a property with unsafe levels of contamination, caused not only by undetected meth labs but also the smoking of meth, or ice, inside residential properties. As reported earlier, the number of Australians using…
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FRANCHISE NEWS
South Coast home goes under the hammer for Cystic Fibrosis community: LJ Hooker
Research and support for Australia’s cystic fibrosis community will be boosted when a South Coast home built entirely through business and community generosity goes under the hammer on January 28. The LJ Hooker Foundation – the charitable arm of LJ Hooker offices nationwide – will donate the full purchase price of the three-bedroom, two-bathroom home at Malua Bay, New South…
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INDUSTRY NEWS
iProperty Group announces Haresh Khoobchandani as General Manager in Malaysia and Singapore
REA Group today announced the appointment of Mr Haresh Khoobchandani to the role of iProperty Group General Manager, Malaysia and Singapore. He will commence the role on 12 January 2017. Mr Khoobchandani has more than 20 years of sales, marketing and leadership expertise, with extensive experience within the Asia Pacific region. Previously, Mr Khoobchandani was GM Microsoft Business Solutions for…
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INDUSTRY NEWS
Stamp duty breaks for older empty nesters will help solve second home buyer dilemma
A stamp duty break for empty nesters aged over 70 could ease housing affordability stresses in Sydney and Melbourne, according to Angus Raine, Executive Chairman, Raine & Horne. “The national housing debate focuses mostly on first home buyers, and with good reason given climbing real estate values combined with an ongoing shortage of new homes,” said Mr Raine. Sydney housing…
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