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INDUSTRY NEWS
Expensive property markets leading the downturn but end could be in sight
The country’s most expensive property markets have been bearing the brunt of higher interest rates, however, 2023 could mark a slowing in the rate of declines according to a new report. CoreLogic’s annual Best of the Best Report for 2022, found that Sydney has been hit hardest by rising borrowing costs along with other higher-priced housing markets. CoreLogic Head of…
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Kyle Raven launches with UrbanX – the way of the future for high-performing agents
For 15 years, Kyle Raven has built a reputation around his passion for real estate and the time has come for him to put his own name on the door, launching Kyle Raven in Wangarrata, Victoria.
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INDUSTRY NEWS
Rising costs forcing renters back into share accommodation
Rising living costs are forcing more people back into share accommodation, as renters continue to get squeezed.
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Angela Duncan: The art of letting go
Angela Duncan knows first-hand that If you want to grow any type of business, you need to be able to find ways to fire yourself from the non-dollar-productive roles that are taking up all your time.
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Queenslanders cop the biggest rent rise in nearly 20 years
Rents have risen sharply across the country over the past 12 months, with Queenslanders being hit with the biggest increase in nearly 20 years.
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Tough conditions for mortgaged New Zealand investors
Homeowners across New Zealand who own multiple mortgaged properties face tough buying conditions as regulations and higher interest rates make it harder to purchase homes.
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Commercial property in regional Australia to outperform
Commercial property in regional Australia is set to benefit from the changing demographics experienced during Covid with Queensland likely to be the big winner according to a new report.
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Adelaide and Brisbane to be the strongest performers in 2023
The smaller capital city markets of Adelaide and Brisbane are set to be the top-performing property markets of 2023 according to a new report.
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INDUSTRY NEWS
Auction clearance rates hit a seventh-month high
Auction clearance rates have bounced back to a seventh-month high as vendors are now more prepared to meet the market according to a new report.
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INDUSTRY NEWS
First-home buyers choosing pets over family
First-home buyers would rather have more space for a pet than be close to their family according to new research.
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INDUSTRY NEWS
New home lending falls to lowest level in three years
New home lending has fallen to the lowest level in three years as industry experts believe it's time for the RBA to stop hiking interest rates.
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INDUSTRY NEWS
Auction volumes drop across Sydney in November but sentiment starting to change
Sydney auction volumes have halved compared to this time last year as uncertain vendors have moved across to private treaty sales according to an expert.
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Celebrity Homes
Mark Wahlberg relists Beverly Park mega-mansion at a lower price
Mark Wahlberg has relisted his luxury Beverly Park mansion and is looking at taking a US$8 million haircut in the process.
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INDUSTRY NEWS
Cash rate expected to rise again on Tuesday
The odds of another cash rate rise at this month’s Reserve Bank of Australia (RBA) meeting remain high, with 88 per cent of experts tipping another hike is on the cards.
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INDUSTRY NEWS
Vacancy rates hold steady in November
Vacancy rates across the country remain at record low levels, holding steady at 0.8 per cent according to Domain.
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WEIRD AND WONDERFUL
First metaverse residential skyscraper takes shape
The first metaverse residential skyscraper is officially under construction as virtual real estate continues to grow in popularity.
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Celebrity Homes
Steph Curry quietly sells mansion for $31 million
NBA superstar, Steph Curry has quietly offloaded his California “dream home”, for US$31.2 million. According to The Dirt, Singapore-based Chinese billionaire Forrest Li was the buyer, paying just US$150,000 more than the Golden State Warriors point guard spent on the mansion a little over three years ago. The contemporary stucco and glass structure sits on more than an acre of land…
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INDUSTRY NEWS
Record low rental affordability puts low-income earners under severe rental stress
Surging rents and low vacancy rates are putting an increasing number of households under rental stress, with low-income earners the hardest hit according to a new report.
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INDUSTRY NEWS
Home prices fell in November as rates pressure buyers
Interest rate pressure is contributing to the “downward trend” in home prices, with new data showing values declined again last month.
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COMMERCIAL
Long-term commercial investments still performing well
Despite rising interest rates and slowing growth in 2022, commercial property has continued to perform strongly over a long period of time according to an expert.
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Celebrity Homes
Country star Kacey Musgraves sells Nashville home for $2.5 million
Country music singer Kacey Musgraves has officially sold her chic Nashville pad to fellow musician Kelsea Ballerini. According to architecturaldigest.com, Ballerini paid US$2.5 million for the four-bedroom, three-bathroom traditional-style house. The private home boasts 324sq m of internal living space and is surrounded by a forest of greenery and sits at the end of a long driveway. The singer hired…
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INDUSTRY NEWS
Otago named Australia’s most family-friendly suburb
It’s getting easier for homebuyers to get into family-friendly suburbs as more stock comes onto the market according to new research.
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INDUSTRY NEWS
Prime residential price growth to slow in 2023
Prime residential property prices in Sydney and Melbourne are expected to remain flat next year, after performing well in 2022, according to a new report.
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INDUSTRY NEWS
Unit growth falls into negative territory
Annual growth for units across the country has slipped into negative territory, with values down 1.4 per cent compared to this time last year, according to CoreLogic.
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WEIRD AND WONDERFUL
A technicolour butterfly house on the market in California
A psychedelic home that was designed for a woman who was losing her eyesight is officially on the market in
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Celebrity Homes
Chris Martin set to build lavish new Malibu home
Coldplay frontman, Chris Martin is finally getting set to build his long-planned luxury residence in Malibu, nearly a decade after purchasing an oceanview home that he planned to knock down and rebuild.
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Tenancy law reforms haven’t stopped investors
Tenancy law reforms in NSW and Victoria have only had a small impact on landlords’ decisions to purchase or sell rental properties according to new research.
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Renters now need to work six hours more to pay rent than before the pandemic
Rising rents are forcing US tenants to work more than six extra hours per week, just to afford the same property compared to prior to the pandemic.
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SUPPLIER NEWS
Properties selling faster than prior to the pandemic
Despite overall demand slowing down since the peak of the boom, properties across the country are still selling faster than they were before the pandemic, according to new data.
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