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Real Estate News
Bankwest to deliver real time updates on home loan applications
In possibly an Australian first, Bankwest customers are now able to check the details and status of their home loan application using Application Tracker, a real-time, 24/7 online service, that also sends push notifications at key milestones. Bankwest’s Executive General Manager of Retail, Andrew Whitechurch, said the Application Tracker had been developed by working directly with customers to understand their needs.…
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Elite Agent
REA Group increases earnings, despite a drop in listings
REA Group Limited (ASX:REA) today released details of the year to date financial information to be reported by News Corp on 7 November 2016 (EDT). REA Group financial highlights from core operations 1 for the quarter ending 30 September 2016 include revenue growth of 16% to $170m and EBITDA growth of 9% to $90m. The strong revenue result was driven by…
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Real Estate News
Real Estate and Property Industry Reforms Paper Released
The NSW Government has today released a Real Estate and Property Services Industry Reform Paper, outlining the Government’s vision for the state’s $15 billion real estate and property sector. The paper contains a strong focus on raising training standards, increasing transparency and accountability and strengthening trust account processes. It is currently anticipated that the new laws will be in place in…
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National
Clearance rates creep towards 80% (6/11/16)
Auction markets continue their strong run with the weighted preliminary clearance rate holding well above 70% for the 15th week running. Auction activity has continued to rise through in the final month of spring, however, the number of auctions remains well below the highs recorded a year ago. The preliminary clearance rate was 77.5% across 2,490 reported auction results. This…
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INDUSTRY NEWS
Whose Depreciation Claim Is Top Of The Block?
Which apartment on Channel 9’s 2016 season of The Block is going to be the most appealing to potential investors? EPM regular, Bradley Beer from BMT Tax Depreciation and his team have run the numbers and share their analysis. Here are the key points: It looks like investors could claim an average of over $2.2 million in depreciation deductions for…
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EPM: News
Rent.com.au Partners with Walk Score®
A recent survey conducted by Rent.com.au revealed that 91 per cent of Australian Renters identified location as their number one criterion when choosing their next home, followed by access to public transport and proximity to the CBD. As location plays such a significant part in the rental search, Rent.com.au has partnered with Walk Score®; a tool that promotes walkable communities…
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Real Estate News
Direct Mail Automation, Regardless of Volume
CRM software provider REX Software has announced a new partnership with tech company CRM2Print. This partnership will give users the ability to automate their direct mail needs, right from within REX. In three simple steps, users can send one or thousands of letters without the need to print, fold, stuff and mail themselves. CTO Alex Babkov explains, “We’ve always recognised…
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Real Estate News
REIV Awards recognise its best performers
The Real Estate Institute of Victoria has awarded the industry’s top performers for 2016, recognising agencies and professionals who are setting new best practice standards. The REIV’s annual Awards for Excellence are a highlight on the REIV’s event calendar, attended by more than 1,000 real estate agents from across Victoria. At a gala function last night at Crown Palladium in…
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National
Auction Markets Remain Firm (30/10/16)
Auction markets remain firm, recording the 14th consecutive week where the combined capital city clearance rate remains above 70%. The final weekend of October shows the auction clearance rate remains high across the combined capital cities, recording above 70.0 per ent for the 14th consecutive week. There were 2,246 auctions held across the capital cities, with a preliminary auction clearance…
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INDUSTRY NEWS
It’s a two speed property market: Domain
Australia has a two speed property market, with some capitals hitting record high prices while other markets weaken, according to the September quarter Domain House Price Report. Nationally the median house price increased by 1.7 per cent over the quarter, but varying levels of local supply and demand are delivering mixed results for individual capitals. Melbourne and Sydney prices have…
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Real Estate News
1ST City Group Expands Platforms Into Finance
1ST CITY GROUP are proud to be expanding platforms in the launch of a Finance and Insurance division under its prestigious 1ST CITY brand. The addition of 1ST CITY ‘Fund+Protect’ heralds the beginning of a new era to the multi-award winning Real Estate Agency which was established in 1998 and has grown to have three offices in the Eastern Suburbs…
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Elite Agent
Low CPI is Good News for Home Buyers and Renters
According to the Real Estate Institute of Australia (REIA), the September 2016 quarter CPI figure continues to be good news for home buyers and renters. “The All Groups CPI, increased by 0.7% in the June quarter giving an annual increase of 1.3%. This is marginally higher than the annual increase to the June quarter of 1.0% which was the lowest annual…
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Real Estate News
NSW land, property transactions fall; REINSW calls for action
The NSW government is facing a budget shortfall with land related transactions and total stamp duty collected below current budget forecasts for the first three months of the 2016-2017 financial year, according to the Real Estate Institute of New South Wales. REINSW President John Cunningham said data from the NSW Office State Review shows that for July, August and September…
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FRANCHISE NEWS
Developer auctions brand new apartment for charity
The owners of ‘Altitude on Montville’, one of the Sunshine Coast’s most exciting new developments, are auctioning a brand new two bedroom apartment in aid of The Royal Flying Doctor Service (RFDS). The luxury apartments are being developed by Sunshine Coast locals, the Purcell family. The charity auction will donate proceeds to a cause that is close to their hearts.…
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Celebrity Homes
realestate.com.au launches new content campaign with MasterChef’s Gary Mehigan
realestate.com.au continues to invest in digital entertainment, with today’s release of ‘Sale Scents’ starring popular celebrity MasterChef Gary Mehigan. Inspired by existing research that says using aromatic citrus scents could help your house sell for more, realestate.com.au teamed up with Mehigan and aroma specialist Dr Megan Thornton to put it to the test in a fun two-minute film. In the…
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Real Estate News
REALABS: The Future of Property Technology
REA Group today announced REALABS, a purpose-built invention space in the heart of Australia’s tech hub, Richmond, designed to create, trial and bring to life the newest technologies for consumers to experience property. The new space will be dedicated to invention and innovation, housing a range of new technologies, including virtual reality, augmented reality, drones and robotics. REALABS will be…
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Real Estate News
Change in Leadership for top Sydney Raine & Horne Office
Leading Eastern Suburbs real estate business, Raine & Horne Double Bay-Bondi Beach, has announced a new direction for the business, with business owners Barry and Mark Goldman making the move to luxury brand Sotheby’s. Principals Ric Serrao and Martin Maskin will form the new streamlined management team at Raine & Horne Double Bay/Bondi Beach. Since 2001, the Raine & Horne Double Bay…
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National
Captial City Auction Markets Record Highest Preliminary Clearance Rate This Year (23/10/16)
This week, CoreLogic are reporting the highest preliminary national clearance rate this year, reaching 80.2% over the combined capitals. The number of homes taken to auction this week increased to 2,641, compared with 2,443 over the previous week. The preliminary clearance rate of 80.2 per cent is the highest recorded for the year so far, up from 76.2 per cent…
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National
CoreLogic Property Pulse Market Update (w/e 20 September, 2016)
Market update (w/e 20 September, 2016) The Reserve Bank (RBA) released the minutes of their October monetary policy meeting earlier this week. At the meeting the RBA board decided to keep official interest rates on hold at 1.5%. The major points of note from the minutes were: GDP growth moderated in the June 2016 quarter however, it was higher than forecast…
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Video of the Week
Video of the Week – 15 Horton Street, Marrickville
Want to see your video featured here? Send in your property videos to editor@eliteagent.com… More videos of the week
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INDUSTRY NEWS
Joseph Walton elected REIV President for 2016-17
The Real Estate Institute of Victoria has announced that Joseph Walton has been elected President for 2016-17. Mr Walton has a long history of involvement with the REIV, having served on a number of committees and as REIV President over the past six months. Joseph has had an extensive involvement with the REIV Commercial and Industrial committee – serving as…
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EPM
Keys going missing? Keylog is your answer
We’ve all heard it before: ‘Who’s got the keys?’ – and then people start racing around looking for the missing set. It’s an age-old problem in real estate as so many keys are managed, and keeping track of who is borrowing them can be difficult. The handwritten key book just can’t manage this process any more, given the volume of rental…
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Real Estate News
Infrastructure Partnerships Australia discussion paper
The Property Council of Australia has welcomed the release of Infrastructure Partnerships Australia’s report “From Housing Assets to Housing People”. “The Property Council does not normally comment on public housing as our focus is on the broader issue of housing affordability and the operation of the housing market. However, it is clear that the funding of public housing is in…
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Real Estate News
Sydney should look to Melbourne for housing solutions: REINSW
Sydney needs a better balance of new apartments, single dwelling homes and medium density developments, much like Melbourne has, according to the Real Estate Institute of New South Wales. REINSW President John Cunningham said the NSW Government is currently reviewing its planning policies which he described as too convoluted. “Everyone has an opinion on Sydney’s property problems, but there is…
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Real Estate News
Raine & Horne Announces 11 New Offices Across QLD & Sydney
Despite concerns over the growth prospects for agency businesses, Raine & Horne Executive Chairman, Angus Raine, has announced the opening of nine offices by the 133-year old firm’s Queensland operations, plus another two offices in Sydney, during the month of October. The Queensland-run businesses are in Brisbane Central, Goodna, Ipswich, Springfield, Mackay, Mackay Beaches, Moranbah, Commercial Mackay, and Redcliffe, while…
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Real Estate News
American-style University City the way to go for Newcastle says Raine & Horne Commercial
A number of positive announcements by the NSW Government are set to have a lasting impact on the long term stability of Newcastle City, according to Steve Dick, Co-Principal of Raine & Horne Newcastle. In September, University of Newcastle entered into discussions with the NSW Government[i] about acquiring an additional two hectares of land in three parcels behind Wright Lane…
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Real Estate News
Record-setting agent rejoins Ray White
Palm Beach real estate identity, Noel Nicholson, has returned to Ray White with a bang, announcing the sale of 17 Ilya Avenue, Bayview for a street record price of $6.7 million. The very next week he secured a second sale at Bayview Heights, setting a new record of $10.8 million. Sourcing overseas buyers from his extensive global database, Noel said…
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Real Estate News
Aged care provider Arcare secures Springwood Bowling Club site
A significant parcel of commercial land in southern Brisbane has been secured by premium aged care provider Arcare for a sizeable seven figure sum. “The 8,797 square metre site located at 4 Pauline Avenue, Springwood, which is the former home of Springwood Bowling Club, is one of the largest parcels in the Springwood area, which is part of the Logan City…
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Real Estate News
A List Winners Revealed
Queensland’s coveted ‘A List’, which highlights the top one percent of sales performers in the state, has been unveiled for the fourth year running. Mercedes-Benz Brisbane is the inaugural and major sponsor of the event. Emily Kindred from the A List said their support makes the event possible. “Without the support of our sponsors, Mercedes-Benz Brisbane and PriceFinder, we wouldn’t…
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Real Estate News
Commercial agents recognised at REINSW Awards for Excellence
The best Commercial Real Estate professionals in the business have been recognised at the 2016 Real Estate Institute of New South Wales Awards for Excellence Gala Dinner last Thursday evening. commercialVIEW.com.au was proud to sponsor the commercial property awards on the night. CEO of commercialVIEW.com.au Daniel Bignold said the awards highlighted the most outstanding performers across Large and Small Commercial…
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INDUSTRY NEWS
Rental accommodation in Middle Sydney increases, REINSW
Residential vacancy rates jumped in Middle Sydney as more stock comes onto the market, according to data released by the Real Estate Institute of New South Wales. REINSW President John Cunningham said the September 2016 REINSW Vacancy Rate Survey Middle Sydney rise 0.5 per cent to 2.1 per cent, leading a 0.1 per cent increase in the overall Sydney vacancy…
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Real Estate News
Infographics and reporting made easy with Homeprezzo
HomePrezzo is launching a swag of new reports and features this spring, adding to the existing range of high quality, infographic video content powered by CoreLogic RP Data statistics. With just a few clicks you can now generate a professionally designed suburb or postcode update report showcasing median price movements, recent sales and investor metrics, all branded to match your…
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Real Estate News
Chinese Buyers Increase Their Share of Australian Hotel Transactions, CBRE
Chinese investors have upped the ante in the Australian hotel sector, accounting for 42% of the $1.7 billion in hotel sales year-to-date according to new research from CBRE. CBRE Hotels Executive Director Robert McIntosh said the Australian hotel market was being increasingly targeted by Asian capital – with Chinese investors leading the charge. “Recent volatility in global equity markets, particularly…
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Real Estate News
First Home Owner’s Grant fails to help regional QLD, says REIQ
The Queensland Government’s First Home Owner grant, which was recently boosted from $15,000 to $20,000, has provided limited support where it is needed most – regional Queensland’s established housing market. REIQ CEO Antonia Mercorella said while the grant was welcome as a tool to help first-home buyers get into the market, it did not deliver help where it was needed…
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Elite Agent TV
CoreLogic: Housing Market Update, October 2016
Watch CoreLogic’s Housing Market Update for October. The housing and economic data is derived from the CoreLogic Hedonic Home Value Index for the month of September, released October 2016. Presented by Tim Lawless, Research Director at CoreLogic. Here are some of the September Highlights, plus the October Outlook, according to Tim Lawless, Head Researcher Values in September – the headlines…
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