Rowan Crosby
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Industry News
The RBA leaves rates on hold in June
The RBA has elected to keep the cash rate on hold at the record low level of 0.25 per cent. At its June meeting on Tuesday, the board decided to continue with a wait and see approach which was in line with what most analysts had been expecting. The RBA had slashed the official cash …
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Industry News
Property prices remain ‘resilient’ in May despite lockdown
Property prices across Australia’s capital cities have fallen for the first time since June last year. Against the backdrop of wide-ranging shutdowns, the latest data from CoreLogic has shown the combined capital cities have fallen by 0.5 per cent in May. The results around the country were mixed, with Adelaide, Hobart and Canberra all recording …
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Industry News
Tassie tops regional market as WA outlook improves
The housing market in Tasmania has been the strongest performer across the entire country over the last five years – and the trend has not just been limited to Hobart. According to CoreLogic‘s quarterly regional review, which looks at capital growth over the year to April, Launceston and the North East region remain the top …
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Industry News
How property markets are responding to COVID-19 according to Herron Todd White
The COVID-19 crisis has thrown the national economy into turmoil, while property markets are still clearly trying to digest what it all means. Leading valuers Herron Todd White (HTW) have tabled their thoughts on what each state is facing and what might lie ahead for the nation’s residential property markets. NSWSydney has been at the …
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Industry News
RBA keeps interest rates at record-low 0.25 per cent
With the Australian economy still feeling the full impact of social distancing measures, the RBA has made the decision to leave interest at a record-low 0.25 per cent. The RBA made two rate cuts in March, including an emergency cut that saw the official cash rate fall to its lowest level on record. It was …
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Industry News
House prices remain steady as transactions slow
Despite the nation-wide shutdown that has made life tough-going for most real estate agents, house prices have remained stable throughout April. According to the latest data from CoreLogic, house prices nationwide ticked higher, up 0.3 per cent. House prices in Sydney increased by 0.4 per cent, however, values did ease in Melbourne, with prices down …
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Industry News
Airbnb on shaky ground amidst COVID-19 crackdown
Short-stay accommodation platform Airbnb continues to find itself in the firing line of social distancing measures which come on the back of new changes to strata laws in NSW being rolled out this week. Under the new coronavirus regulations, people should be staying at their own accommodation. Exemptions are in place for those who are …
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Industry News
The RBA Leaves the Cash Rate on Hold at 0.25 per cent
At its monthly meeting today, the RBA has decided to leave the cash rate on hold at 0.25 per cent. The move that was widely tipped by analysts will see the cash rate remain at historic lows for the foreseeable future. In mid-March, the RBA held its first emergency meeting since 1997 to slash the …
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Industry News
House price growth begins to slow
Despite the unprecedented social distancing measures put in place to stop the spread of the coronavirus, home values across the country pushed higher in March. According to the latest data from CoreLogic, prices rose by 1.1 per cent in Sydney, 0.4 per cent in Melbourne, 0.6 per cent in Brisbane and Canberra, 0.5 per cent …
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Elite Agent
7 best practices for managing a remote team
Like it or not, we’re all going to be working from home for a while. If you don’t need to communicate with anyone or anything on the outside world that’s great. But the reality is for most people, particularly people in real estate, this period will be a steep learning experience. We all know how …
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Industry News
Coronavirus fallout prompts RBA to slash rates
The RBA has officially cut interest rates to their lowest level on record in the fight against the economic fallout from the coronavirus. In an emergency meeting yesterday, the RBA reduced the official cash rate to 0.25 per cent down from 0.5 per cent. The RBA has only recently cut the cash rate from 0.75 …
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Industry News
Expats set to lose their CGT exemption
Australian residents living overseas will now lose the capital gains tax (CGT) exemption on their family home after new laws were passed by Parliament. The new changes mean that foreign residents who don’t file income taxes will now be forced to pay capital gains tax when they choose to sell the family home. Previously the …
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Industry News
Airbnb promotes party prevention
Short-term rental platform Airbnb is encouraging its hosts to use third-party surveillance devices in a bid to cut down on disruptive behaviour. Airbnb came under fire last year for incidents in the US where guests have damaged properties and thrown wild parties – and now the company is taking a stance. Starting today, we are …
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Industry News
Coronavirus fears force the RBA to cut rates to 0.5%
Fears that the coronavirus will weigh on both the local and global economies has forced the RBA to slash the official cash rate by 25 basis points to 0.5 per cent. The RBA made the decision to cut interest rates to a record low level in what is the fourth cut in 12 months. The …
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Industry News
House price rebound continues with new highs in sight
House prices across the country have continued to grow in value in February, with Sydney and Melbourne again the strongest markets in the country. According to the latest data from CoreLogic, median house prices across the combined capital cities jumped 1.2 per cent in February. Again it was Australia’s two major cities, Sydney and Melbourne …
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National
Relationships in real estate in an era of PropTech
Over the last decade, PropTech has been changing the way the real estate industry operates, but at its core, property is about people. It’s always been said that real estate is a relationships business and even with the influx of PropTech firms that make transactions both easier and more transparent, buyers and sellers still need …
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ACT
Stamp duty labelled ‘government addiction’ as industry calls for reform
Calls for changes to stamp duty are starting to grow stronger after New South Wales Treasurer Dominic Perrottet put the federal government on notice to act on tax reforms. In a recently released report, an independent panel appointed by the NSW Treasurer looked at how NSW and the Commonwealth could work together to build a …
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Industry News
Property price optimism rising in capitals as regions feel the strain
Record low interest rates have helped boost the level of financial comfort for many Australians who reside in our capital cities, as a rebound in property prices improves sentiment. However, the gap with those in regional areas continues to grow, according to ME Bank’s latest Household Financial Comfort Index. Australians living in regional areas are …
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Elite Agent
The most popular keywords to sell a listing
When agents list a property on a real estate portal do the words used make a difference when trying to make the sale? Are these keywords designed to impress the potential buyer or should they be targeted towards what a buyer actually wants? Well, it turns out these questions have been answered by Point2Homes in …
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Elite Agent
7 tips to launching your own proptech startup
Proptech is a word on everyone’s lips and no doubt will change the way the property industry operates. Since 2011, there has been over USD$300 million in funding invested into Australian real estate technology, according to a report from Unissu, which highlights just how big the sector is becoming. Proptech covers a whole range of …
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Industry News
RBA Governor backs low interest rates but warns over house prices
In his first speech of 2020, RBA Governor Phillip Lowe has reiterated that interest rates will likely remain low for an extended period of time while cautioning on their impact on house prices. Speaking at the National Press Club, Dr Lowe came out strongly by suggesting three interest rate cuts last year had been of …
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Industry News
RBA leaves rates on hold at 0.75 per cent for February
The Reserve Bank of Australia (RBA) has left the cash rate on hold at 0.75 per cent at its February meeting, in what was a decision that was widely expected by the market. Over the past few weeks, economic data has been on the improve and that has made a strong case for rates to …
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National
House price rally continues in January
House prices started the year in the same fashion as they ended 2019, rising across every capital city in Australia. According to the latest data from CoreLogic, the combined capital cities grew by 0.9 per cent in January, taking the quarterly gain to 4.2 per cent. Once again it was Sydney (up 1.1 per cent)…
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ACT
New Real Estate Portal Zango Launches in Canberra
A new listing portal focused on the Canberra property market is getting set to launch in a bid to change the way locals view real estate. Zango has been developed in collaboration with a group of local real estate agents in Canberra, who were wanting to create a wholly-owned local platform. Zango will focus on…
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Elite Agent
House prices close out 2019 with more strength
It was another strong month of house price growth in December, as the year-end rally stayed true to form across the country. Across the major capital cities, dwelling values increased by 1.2%, marking yet another solid monthly performance, according to the latest data from CoreLogic. Again it was Sydney and Melbourne leading the price increase,…
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Elite Agent
Weekend Auction Wrap: Volumes taper off ahead of Christmas
Auction volumes and the preliminary clearance rate across the country were lower this weekend, as the tapering off ahead of the Christmas period officially began. The clearance rate in Sydney dropped for a third straight week, with volumes down by -13 per cent on the prior week. Only 846 homes were taken to auction, according …
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Elite Agent
The Agency predicts steady house price growth in 2020
A combination of cheap funding and low stock levels are helping boost house prices across the country and that is expected to continue into 2020, according to real estate group, The Agency. In their Summer 2019/2020 property report, The Agency CEO Matt Lahood has suggested there could be more upside in house prices next year, …
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Elite Agent
Weekend Auction Wrap: Sydney and Melbourne auction results continue to lead the way
Auction results were strong for yet another week, as buyer demand continues to outstrip supply. Across the country, the latest CoreLogic data has shown that the national preliminary auction clearance rate came in at 74.5% from a total of 2,837. This was the second busiest week of the year, however, the numbers were down slightly…
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Industry News
HTW monthly update – Property prices deliver strong end to 2019
As 2019 draws to a close Herron Todd White have assessed where the nation’s property markets currently sit and how their predictions stacked up over the course of the year. We saw a slow start for property in 2019 thanks to an uncertain regulatory environment and the federal election which had big implications for property …
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Industry News
The RBA leaves rates on hold at 0.75% at December meeting
The Reserve Bank of Australia has left the official cash rate on hold at 0.75 per cent in the final meeting of the year. Headed into today’s announcement, there was only a five per cent chance of a cut to the cash rate. We’ve already seen three 25 basis point cuts this year, however, there …
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Elite Agent
Sydney house prices jump the most since 1988
It was a record-setting month for house prices across the country as Sydney, Melbourne and Hobart continue to lead the charge. Sydney dwelling values increased by 2.7% for the month of November, according to CoreLogic, making it the biggest monthly increase in 31 years. At the same time, Melbourne dwelling values also jumped by 2.2%,…
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Elite Agent
Weekend Auction Wrap: Sydney and Melbourne continue to see strong clearance rates
It was another huge weekend of auctions in Australia’s two largest property markets as the spring selling season closed out with strong demand from buyers. Again it was Sydney that led the field, finishing the weekend with a preliminary clearance rate of 84.7 per cent, according to CoreLogic. In total there were 1,131 auctions held …
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Elite Agent
Weekend Auction Wrap: Positive signs for the market in 2020
It was a huge weekend of auctions across the country with Sydney again leading all comers, as buyers are continuing to make aggressive moves in a bid to get deals done by Christmas. Sydney’s preliminary auction clearance rate came in at 82.3%, which was up sharply on up on last week’s final clearance rate of…
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Elite Agent
Weekend Auction Wrap: Sydney and Melbourne buyers getting aggressive
It was another busy weekend for auctioneers across the country, with the 2,571 homes taken to auction making it the second busiest weekend of the year. Melbourne saw another strong result this weekend with 77 per cent of homes selling based on preliminary clearance data from CoreLogic., while Sydney was also strong coming in at …
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Elite Agent
Weekend Auction Wrap: Sydney’s second busiest weekend of the year
Once again, Sydney was the market leader for auction results over the weekend, coming in with a preliminary clearance rate of 81 per cent. According to the latest data from CoreLogic, Sydney had 931 homes taken to auction making it the second busiest weekend of the year. In Melbourne, however, there was also a surge …
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