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INDUSTRY NEWS
Perth’s median house price increases again in December: REIWA
Perth’s median house price increased by nearly two per cent in the three months to December 2016. REIWA President Hayden Groves said reiwa.com data showed the median house price had lifted 1.9 per cent to $535,000 over the three month period. “This is the second month in a row that we’ve seen an increase in the median house price, which…
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EPM
Bondsure records high uptake, just weeks after its launch
Bondsure, an insurance company that provides tenants with an option to pay their bonds on an installment basis been making waves within the real estate industry 10 weeks after its launch in October. The product which is specifically aimed at Australia’s growing tenancy market has had over 80 real estate offices signing up to use its services with more expected…
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INDUSTRY NEWS
realestate.com.au welcomes EnergyAustralia to Connection Services
Connection Services by realestate.com.au, an online solution helping movers to easily connect with utilities and telecommunications providers, has now welcomed EnergyAustralia to its list of energy providers. EnergyAustralia joins AGL and Origin as utilities providers on Connection Services, giving Australian movers more choice than ever before. Movers that select EnergyAustralia for Electricity or Gas will have their services supplied under…
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INDUSTRY NEWS
Seller Hub by realestate.com.au opens for inspection
Seller Hub, a new dedicated space on realestate.com.au, aims to give consumers access to the best information and insights before their property goes under the hammer. The new Seller Hub is designed to help make the selling process easier for consumers, by arming them with relevant tools to help with a successful sale. In Australia alone there are 1.2 million…
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INDUSTRY NEWS
Perth real estate starting to bounce back: Raine & Horne
After a sequence of flat years due to the resource sector downturn, there are early signs Perth’s property market is turning a corner, according to leading real estate group, Raine & Horne. “Economic reports in January and February will set the tone for a 2017 rebound,” said Craig Abbott, General Manager WA, Raine & Horne. “The key factors we’ll be…
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INDUSTRY NEWS
realestate.com.au moves into the mortgage space
realestate.com.au and National Australia Bank (NAB) have today announced a five-year strategic partnership that will transform the property buying experience for Australians. As part of the experience, consumers will be able to access a suite of NAB home loans, a realestate.com.au branded white label product, as well as a panel of other lenders. “We know that Australians are property obsessed,…
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FRANCHISE NEWS
Coronis Announces 2016 Top Performers
The Coronis Group held their 2016 Annual Awards at Brisbane City Hall on Saturday night, 17 December, where they announced Coronis Bracken Ridge as Team of the Year. Presented by Managing Director Andrew Coronis, Sales Director Craig Gillies and Property Management Director Jodi Ford, the Bracken Ridge office won based on profitability and their exemplary team culture. “2016 has been…
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EPM
Changes to Rental Bonds Online (RBO) from 30th January
From 30 January 2017, changes to the Residential Tenancies Act 2010 (the Act) make it mandatory for landlords and real estate agents to invite tenants to lodge their rental bonds using Rental Bonds Online (RBO). The amendment does not change any other provisions in the Act, including those relating to the lodgement and claims for bonds. Landlords and Real Estate…
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National
Clearance rates remain above 70 percent on tapering volumes (18/12/16)
The final week of auction reporting for the year sees the combined capital city clearance rate remain above 70 percent, while auction volumes continue their seasonal taper Auction activity continued to ease this week after a surge in auctions over the past four weeks. The combined capital city clearance rate fell slightly to 70.5 percent, down from last week’s 71.6 percent.…
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INDUSTRY NEWS
REA Statistics show Australia is obsessed with property
Australia’s obsession with property has continued this year with realestate.com.au revealing their statistics for the year. A single realestate.com.au user viewed more than 17,000 unique property listings this year, almost 50 per day[1]. 6.5 million visits to property listings on realestate.com.au on average every day[2]. 110 million hours spent looking at property and news on realestate.com.au so far in 2016[3].…
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EPM
Kick off the year with Growing Stronger Together
Growing Stronger Together, an intensive one-day property management event series, kicks off in February 2017. Brought to you by the Real Estate Training Group (RETG), the event explores strategic team collaboration and accelerated rent roll growth in a series of sessions led by some of the industry’s most successful thoughtleaders. The core program will focus on strategically unpacking the topics…
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Elite Agent
It’s not just the Titling system SA is first at…
The Real Estate Institute of South Australia (REISA) embarked on an aggressive adoption of electronic documentation many years ago which is paying off in dividends now. Three years ago the REISA stopped printing or selling its documentation in hard copy and is now leading the way with its adoption of the REI Forms Live platform’s Docusign process. REI Forms Live platform – that…
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Elite Agent
Property owners celebrate an early Christmas with $35,000 win: LJ Hooker
A Bermagui couple is celebrating Christmas early after walking away with a $35,000 travel voucher as winners of the LJ Hooker network’s spring marketing campaign. Every property owner and landlord that had a market update with LJ Hooker over spring 2016 went into a draw to be the randomly selected person to spin the network’s Million Dollar Prize Wheel. Gordon…
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Elite Agent
Domain named as one of the Best Apps for 2016 on Google Play Store
Domain has been named one of the best apps for 2016 by the Google Play store. The list, curated by the Google Play team, features the most innovative, share-worthy, downloaded and useful apps of the year. Domain was included in the ‘Best Local’ apps category which also included UberEATS, Citymapper, Carsales and Weatherzone. The app has earned a customer rating…
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Real Estate News
Increasing professional standards a priority: REINSW
Increasing professional standards in the real estate industry has been recognised by agents and industry leaders who attended the Real Estate Institute of New South Wales’ fourth annual Industry Summit last month, as a priority. REINSW President John Cunningham said over 100 delegates gathered at the Sydney Opera House on 24 November 2016 to discuss and debate ‘The Path to…
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INDUSTRY NEWS
Property prices reflecting state economies: REIA
REIA has released the REIA Real Estate Market Facts for the September quarter 2016 which shows that the weighted average capital city median price increased by 1.4% for houses and 1.6% for other dwellings. “The weighted average median house price for the eight capital cities is now $712,776. Reflecting the differing fortunes of state economies, over the quarter, the median…
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INDUSTRY NEWS
Stamp duty a significant cost barrier for Sydney and Melbourne markets: CoreLogic
Higher priced properties in Sydney and Melbourne is not the only obstacle stopping people from entering these markets. Varying from state to state, another factor contributing to the high entry cost to housing is Stamp Duty, particularly in Australia’s largest two capital cities. CoreLogic Head of Research Tim Lawless said, “Calculating how much stamp duty is applicable on a property…
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Elite Agent
NSW, you can’t dine out on stamp duty forever: Leanne Pilkington
Laing + Simmons Managing Director and incoming REINSW President, Leanne Pilkington has penned a cautionary memo to the NSW Government telling them, they cannnot continue to dine out on NSW stamp duty revenues – highlighting the issue of housing affordability in the state, particularly in Sydney. Here is the full release: MEMO TO NSW GOVT: YOU CAN’T DINE OUT ON STAMP…
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INDUSTRY NEWS
Australian Community Newspaper Readership 2016: Roy Morgan
Readership of community newspapers in all mainland capital cities has declined, but many titles are bucking the trend and finding new local readers, the latest Roy Morgan Community Newspaper Readership results for the 24 months to September 2016 show. In Sydney, the St George & Sutherland Shire Leader extended its lead as the most-read community paper, with 220,000 readers per average issue (up…
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National
Clearance rates again above 70 percent on soaring volumes (11/12/16)
Auction markets continue their strong run, with the number of auctions recorded at the second highest level this year and clearance rates remaining above 70 percent for the 20th successive week Auction activity does not appear to be slowing through the festive period, with auction numbers reaching the highest level since March earlier this year. There were 3,411 auctions held…
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INDUSTRY NEWS
WA housing affordability shows notable improvement over the year
Housing affordability in Western Australia experienced a minor decline in the September quarter, but has improved over the year, according to the latest Housing Affordability Report by the Adelaide Bank and Real Estate Institute of Australia. REIWA President Hayden Groves said the report showed that while the proportion of income required to meet loan repayments in WA had increased by…
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Elite Agent
REIA welcomes new President
The Real Estate Institute of Australia (REIA) has welcomed the election of the new President, Malcolm Gunning. Mr Gunning was elected to the Presidency at the Annual General Meeting held in Canberra on Thursday 8th December 2016. He has over 40 years of experience in all facets of real estate agency practice, property development and property valuation. Mr Gunning is…
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Elite Agent
Ray White Group post record month
Ray White recorded $4.2 billion in sales in November 2016 – in what is a new record for the Group. Group chairman, Brian White said the result – in a market largely thought to be easing – gives concrete evidence of the strength of buyers in the market, supported by the continuing low interest rate environment. “Whilst Sydney remains remarkably…
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INDUSTRY NEWS
Purplebricks makes first ever UK profit
Purplebricks Group plc Interim results for the six months ended 31 October 2016 UK division achieves maiden EBITDA profit with plans to accelerate market share growth Purplebricks Group plc (AIM: PURP) (“Purplebricks”), announces its interim results for the six months ended 31 October 2016. Financial highlights H1 2017 H1 2016 UK Aus Total UK Aus Total £m £m…
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INDUSTRY NEWS
RateMyAgent Agent of the Year Awards 2017
RateMyAgent review and ratings site have announced the criteria for their national, state and suburb awards for 2017 and are calling for agents and agencies who have claimed their profile to seek more customer reviews to be in the running. National and state-based awards will be presented at the RateMyAgent Awards Night, held in Melbourne on 9 March, 2017 with…
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INDUSTRY NEWS
Historically low rates unable to offset increasing mortgages: REIA
The Real Estate Institute of Australia (REIA) says that in the September quarter of 2016, housing affordability in Australia declined marginally with the proportion of the median family income required to meet average monthly loan repayments increasing to 29.5% from 29.4% in the previous quarter. REIA President Neville Sanders says, “The latest Adelaide Bank/REIA Housing Affordability Report shows that whilst…
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Elite Agent
Real Estate Veteran Returns to Ray White
An agent with nearly 30 years experience as a real estate agent, principal, auctioneer and trainer has recently taken over the Ray White Balmain office. David Meadowcroft, who joined the industry in 1988, has experience leading both sales and property management businesses. He said joining Ray White largely came down to the opportunity on offer in the Inner West. “The Ray…
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Elite Agent
REA Group Property Demand Index – November 2016
REA Group has released their Property Demand Index for November 2016 showing variable results across capital cities with weakening demand in some locations and a stabilisation in demand. “Perhaps there is a sense of nervousness among Australians following the recent US election, because demand levels stabilised in November, increasing by just 0.1% during the month,” commented REA Group Chief Economist,…
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Elite Agent
Tax reform on the agenda for REIWA’s State Election campaign
In the lead up to the 2017 State Election, REIWA will be campaigning for the reform of property taxes to help make home ownership a reality for more West Australians. REIWA President Hayden Groves said the Institute would be engaging with the WA community via surveys and polls throughout the campaign period. “It’s incredibly important that the local community have…
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Elite Agent
Rates to hold in December, before rising in 2017: RateCity
Official interest rates are poised to hold at the historic low of 1.50 per cent when the Reserve Bank Board meets this Tuesday, according to analysis by RateCity.com.au However, their study of over 30 key economic indicators suggests the easing cycle has ended with Peter Arnold, data insights director at RateCity.com.au suggesting the chances of a rate hike in 2017…
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National
Are Recent Fixed Term Rate Rises a ‘Sign of What’s to Come’?
The Commonwealth Bank is the latest lender to lift interest rates for homebuyers looking to fix their home loan, raising rates on a number of fixed products. One of the country’s biggest lender lifted the rate of its popular 3-year fixed rate by 0.20 percentage points to 4.24 percent on Friday. It also lifted its longer-term 5-year fixed rate by…
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Real Estate News
iBuyNew Rated Among Fastest Growing Asia Pacific Tech Companies
National online property marketplace iBuyNew Group Limited (ASX-IBN) has been named among the fastest growing technology companies in the Asia Pacific region. IBN ranked 67th on the Deloitte Technology Fast 500 Asia Pacific 2016, a ranking of the 500 fastest growing technology companies in the region. Rankings are based on percentage revenue growth over three years. The recognition from Deloitte…
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National
Clearance rates hold steady on falling auction volumes (04/12/16)
Capital city clearance rate remains strong for the first week of Summer at 75 percent, while the number of auctions has fallen week-on-week The combined capital city preliminary clearance rate rose this week to 75.0 percent, up from last week’s final clearance rate of 73.0 percent. This week’s auction market results indicate that clearance rates are maintaining strength coming into…
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FRANCHISE NEWS
R&W Merger forms largest real estate agency in North Sydney
Two of the most successful real estate agencies in North Sydney have merged to form one office under the Richardson & Wrench brand. Richardson & Wrench (“R&W”) North Sydney have merged with First National North Sydney, making it the largest office of its type in North Sydney and one of the few to have a ground floor presence in the…
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Elite Agent
1 in 4 mortgage holders ‘extremely concerned’ about rate rise, new research finds
On the back of yesterday’s OECD recommendation that the Australian Reserve Bank increase interest rates next year, new research from Australian Credit Bureau, Experian, has revealed that a quarter of Australian mortgage holders are extremely concerned about the impact a potential 1.5% interest rate increase would have on their ability to service their loan. The RFi study of over 1,500…
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