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INDUSTRY NEWS
Auction volumes keep rising, but buyers are still out in force
Despite the unseasonal increase in auction activity, the preliminary auction clearance rate continues to hold above 70 per cent with a “massive” number of registered bidders showing up on auction day.
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INDUSTRY NEWS
Experts predict the RBA will keep interest rates on hold
With inflation cooling, experts have predicted the Reserve Bank of Australia (RBA) will keep interest rates on hold, in what would come as welcome relief for struggling households.
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INDUSTRY NEWS
Harcourts to attempt 500 auctions on ‘Blue Friday’
Harcourts is hoping to “hit the ground running”, this spring with a world record attempt for the most number of auctions in one day.
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INDUSTRY NEWS
When will movers return to the NZ market?
Owner-occupiers in New Zealand have been quiet over the past 12 months, with weak sentiment and higher interest rates holding movers back from relocating.
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INDUSTRY NEWS
Property prices have recovered half their declines
Property prices have continued to gain momentum in the June quarter with values now halfway into their recovery according to a new report.
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INDUSTRY NEWS
Odds of an August rate hike slashed as inflation cools
There might be relief ahead for mortgage holders with the odds of an August rate hike slashed after a softer-than-expected inflation reading.
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INDUSTRY NEWS
House in the same street as The Block homes comes up for sale
If you think you can do a better job of renovating a home than the contestants on TV series, The Block, then a Hampton property in Melbourne, might just give you an opportunity to test your skills as a renovator.
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INDUSTRY NEWS
Property market still faces “significant headwinds” despite a rebound in prices
After six months of property prices rising in the face of high-interest rates, the ongoing recovery still faces “significant headwinds” in the second half of 2023 according to the latest Herron Todd White (HTW) Month in Review.
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INDUSTRY NEWS
NZ sales activity jumps and prices should follow
There are signs of life in the New Zealand property market, with new data showing that sales volumes are on the rise, which will begin to put upward pressure on prices.
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INDUSTRY NEWS
Higher cash rate hitting new home sales
The sharpest increase in the official cash rate in history has seen new home sales across the country continue to fall.
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INDUSTRY NEWS
Some relief for QLD renters as vacancy rates rise
There are some green shoots appearing for desperate renters in Queensland, with vacancy rates slowly starting to rise.
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COMMERCIAL
High-interest rates the key driver of commercial property in 2023
The Real Estate Institute of Australia (REIA) expects to see interest rates remain at elevated levels, which will continue to drive commercial capitalisation rates higher over 2023.
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INDUSTRY NEWS
Offices sales top industrial for most transacted
After the huge interest in industrial assets in recent years, the trend is now starting to normalise with sales of office assets overtaking industrial.
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INDUSTRY NEWS
South Australia set to ban no-cause evictions under new rental changes
South Australia is set to be the next state to reform its rental laws, with tenants to be protected from no-cause evictions under the proposed changes.
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INDUSTRY NEWS
Trend towards lifestyle locations set to continue
Queensland and Western Australia are set to be the big winners as people continue to flee the big cities and seek out affordable lifestyle locations.
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INDUSTRY NEWS
Unit prices surge across Melbourne
Unit prices in Melbourne have bounced back strongly, with some suburbs seeing quarterly growth as high as 25 per cent, according to the Real Estate Institute of Victoria (REIV).
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INDUSTRY NEWS
An “extended pause” on the cards for interest rates
The ANZ bank has predicted the Reserve Bank of Australia will keep interest rates steady in an "extended pause" next month.
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INDUSTRY NEWS
Homeowners forced to work 3.6 weeks per month just to pay their mortgage
If it feels like you’re working all week long just to end up with nothing to show for it, then you might be right, with new data showing a single-income household spends 3.6 weeks, on average, working each month just to pay the mortgage.
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INDUSTRY NEWS
New housing construction continues to decline but costs are easing
Despite record demand for homes, the latest ABS construction data shows the pipeline of new homes continues to slow, with building starts down 16.4 per cent compared to last year.
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INDUSTRY NEWS
Commercial sales drop as interest rates bite
Higher interest rates have hit commercial property hard, with sales activity down 37.6 per cent on last financial year.
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INDUSTRY NEWS
Former Fairfax family estate hits the market for $12 million
A stunning country estate that was built for media mogul John Fairfax's grandson, has hit the market with an asking price of $12 million.
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INDUSTRY NEWS
Perth’s growing population to support property market prices
Perth’s property market has managed to defy 12 interest rate hikes and remain resilient, with strong population growth likely to continue the trend.
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INDUSTRY NEWS
Ray White launches RWC Retail
The Ray White Group has announced the launch of RWC Retail, with the new business, aiming to provide a dedicated team for the sale of retail property across Australia.
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INDUSTRY NEWS
Rents continue to rise, but growth is slowing
Record immigration and tight supply have seen rents across the country continue to rise, however, some cities are now starting to see rents fall as a multispeed market begins to develop.
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INDUSTRY NEWS
Investors urged to ‘stop chasing cash flow’ alone
With ever-rising interest rates along with cost of living pressures, investors are being warned to not focus just on cash flow and should look to locations that offer good capital growth opportunities.
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INDUSTRY NEWS
Australia’s rental crisis persists as rents jump again
There’s still no relief in sight for struggling tenants, with rents recording a two per cent rise over the past quarter, according to PropTrack.
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INDUSTRY NEWS
RBA issues a reprieve and holds interest rates
Borrowers are breathing a sigh of relief today after the Reserve Bank of Australia (RBA) decided to leave the official cash rate on hold at 4.1 per cent.
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INDUSTRY NEWS
Leading agent Taney Jain to established his own business
One of Australia’s top agents, Taney Jain has announced he’s departing Reliance Real Estate after nine years.
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INDUSTRY NEWS
Florida law bans some international buyers
Certain groups of foreigners will no longer be able to purchase property in Florida in the US after Governor Ron Desantis signed a new bill limiting foreign ownership.
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INDUSTRY NEWS
Property prices continue to defy rate hikes
National property prices keep on moving higher last month, despite the Reserve Bank of Australia (RBA) continuing to hike the cash rate.
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INDUSTRY NEWS
It now takes 15 years for house prices to double in value
The old saying that property prices double every 7-10 years, might need to be updated, with new data showing that it now takes 15 years for properties in Australia to double in value.
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INDUSTRY NEWS
ACT and WA likely to see an uptick in listings
The ACT and Western Australia are likely to see the largest percentage of vendors listing their homes for sale in the coming months according to CoreLogic.
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INDUSTRY NEWS
South Australia bans rent bidding
The South Australian government has followed New South Wales’ lead and outlawed rent bidding in the hope it will help ease some pressure on the rental crisis.
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INDUSTRY NEWS
AI could potentially lead to white-collar “Rust Belt suburbs”
The rapid rise in AI is already changing the way white-collar workers operate and it has the potential to severely impact the price of real estate in certain suburbs according to an expert.
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INDUSTRY NEWS
Scammers fleece agent out of $300,000
A WA real estate agent has lost $329,500 after scammers successfully stole $329,500 from a trust account last week.
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