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INDUSTRY NEWS
New Zealand property prices fall at fastest pace since the GFC
Property prices across New Zealand have continued to fall, with the rate of decline now at the same level as seen during the Global Financial Crisis.
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INDUSTRY NEWS
Lenders pricing for risk with rate discounts
Lenders are rewarding borrowers with lower Loan to Value Ratios (LVRs) by offering reduced interest rates.
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INDUSTRY NEWS
South Australian property continues to buck the trend
The South Australian property market continues to show “resilience”, extending its record-breaking run of quarterly price increases.
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COMMERCIAL
Adaptive reuse of old buildings on the rise across Australia
The redevelopment of old buildings across Victoria is starting to gather steam as developers look to find creative ways to utilise older buildings that have outlived their purpose.
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Celebrity Homes
Brad Pitt buys a historic $40 million Carmel estate
Brad Pitt has set an area record with his US$40 million purchase of a century-old estate in California’s unincorporated Carmel Highlands community.
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INDUSTRY NEWS
Renters being forced to give up pets to find a home
Renters are being forced to choose between keeping their pets and being able to find a place to live, with hundreds giving up their pets each year.
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INDUSTRY NEWS
ANZ cuts new customer variable rates by up to 0.50 per cent
Despite the Reserve Bank of Australia hiking the official cash rate and fixed rate loans rising, ANZ has come out and cut new customer variable rates by up to 0.50 per cent.
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INDUSTRY NEWS
WA investors to sell up if tenancy laws change
More than half of WA property investors would consider selling their rental properties should significant changes be made to WA tenancy laws.
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Celebrity Homes
Jeff Bezos’ parents buy $74 million Florida compound
Miguel and Jacklyn Bezos the stepfather and mother of Amazon boss Jeff Bezos are believed to have purchased two side-by-side mansions in Florida’s Coral Gables for US$74 million.
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INDUSTRY NEWS
Units outperform houses as buyers hunt for value
Buyers are on the lookout for more affordable housing options as rising interest rates make units more appealing.
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INDUSTRY NEWS
RBA a “near certainty” to raise rates next week
Australia’s hottest rate of inflation in 21 years means the Reserve Bank of Australia is a “near certainty” to hike the official cash rate 0.5 per cent on Tuesday, according to experts.
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Celebrity Homes
Justin Bieber’s Hawaii vacation home hits the market
The infamous Hawaii vacation home Justin Bieber leased for his entourage in 2016 is on the market for US$9.95 million.
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Celebrity Homes
Conan O’Brien lists his luxury beach house
Funnyman Conan O’Brien is selling his Santa Barbara beach house for a tidy profit, asking US$16.5 million.
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INDUSTRY NEWS
Home prices to fall 5 per cent by end of the year
Rising interest rates could see property prices drop by up to 5 per cent between now and the end of the year, according to a new report.
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COMMERCIAL
Office market leads the way as commercial sales break new ground
Commercial property transactions set a record pace last financial year, with buyers taking advantage of the low interest rate environment.
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INDUSTRY NEWS
New Zealand property prices face a test as interest rates rise and sales volumes fall
The New Zealand property market is going to face a “test” as rising interest rates and a wave of refinancing jolt the market in the next 12 months.
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Celebrity Homes
Doja Cat selling her Beverly Hills home
TikTok meme queen-turned-international popstar Doja Cat has listed her Beverly Hills Home for US$2.495 million.
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INDUSTRY NEWS
One in five first home buyers take a year to buy a property
Tight supply and rapidly rising prices has seen many first home buyers taking over two years to purchase a property.
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INDUSTRY NEWS
Westpac and NAB predict two more 50bps rate hikes
Borrowers should brace themselves for “more rate pain”, as Westpac and NAB follow ANZ predicting the Reserve Bank of Australia will lift the official cash rate higher and faster than previously expected.
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COMMERCIAL
HTW: rising costs slowing industrial development
Rising construction costs and higher land values has slowed the initiation of new development across the industrial sector according to the latest Herron Todd White (HTW) Month in Review.
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Celebrity Homes
Actress Jaime King selling Walt Disney-built home in Beverly Hills
Fresh from her divorce from director Kyle Newman, actress Jamie King is moving on with her life, listing her longtime home in the mountains above Beverly Hills for US$2.8 million.
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INDUSTRY NEWS
What kind of property will $700,000 buy you?
After two years of record price growth, there are still opportunities to find good value properties for under $700,000 around the country, according to the latest Herron Todd White (HTW) Month in Review.
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Celebrity Homes
Vanessa Hudgens trades up to Los Angeles mansion
High School Musical star Vanessa Hudgens is moving back to her old neighbourhood, trading up to a US$7.5 million Studio City mansion.
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INDUSTRY NEWS
Queensland rental market feeling the ‘squeeze’ of tight vacancy rates
Incredibly tight rental conditions are continuing to ‘squeeze’ renters across Queensland, with many areas still experiencing vacancy rates below 1 per cent.
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INDUSTRY NEWS
Further increases in the cash rate will be needed: RBA
The official cash rate is still lower than it needs to be, according to the Reserve Bank of Australia, who maintain households are well-positioned for higher borrowing costs.
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INDUSTRY NEWS
Chinese property buyers to return to Australia
Chinese property buyers are likely to head back to Australia sooner than expected as Australia emerges from COVID stronger than many other countries, according to an expert.
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INDUSTRY NEWS
Commercial property settlements surged higher last financial year
The volume of commercial property settlements has surged by as much as 60 per cent across the east coast of Australia, according to new data.
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Celebrity Homes
Steph Curry pays over asking price for Florida vacation house
Fresh from leading the Golden State Warriors to a fourth NBA championship, Steph Curry has celebrated by picking up a Florida vacation home.
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Celebrity Homes
Sofia Vergara and Joe Manganiello selling their Beverly Hills estate
After having settled into their new Beverly Park mansion, celebrity couple Sofia Vergara and Joe Manganiello have put their old Beverly Hills estate on the market for US$19 million.
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INDUSTRY NEWS
Rate rises now to avoid sharper economic slowdown
The Reserve Bank of Australia hopes taking swift action on soaring inflation will halt the need to increase the cash rate as high as previous economic cycles.
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Celebrity Homes
Busy Philipps, Marc Silverstein list secluded Hudson Valley retreat
Freaks and Geeks star Busy Philipps and her former husband, rom-com writer-director Marc Silverstein have put their Hudson Valley property on the market for US$1.75 million.
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COMMERCIAL
Growing crane count suggests construction activity is on the rise
Construction activity across Australia continues to ramp up, with the latest Rider Levett Bucknall's Crane Index showing the first increase since prior to the pandemic in early 2019.
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INDUSTRY NEWS
Outer Melbourne and regional Victoria continue to set record prices
Melbournians have continued to leave the inner-city, with values in outer suburbs and regional areas at record highs.
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Celebrity Homes
Sandra Bullock rents out her Malibu Beach cottage
Miss Congeniality star Sandra Bullock is putting one of her two Malibu homes up for rent with an eye-watering price tag of US$30,000 per month.
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INDUSTRY NEWS
First home buyers exceed their budget to get on the property ladder
Record high home prices and underquoting are forcing first home buyers to pay more than they expected with 37 per cent exceeding their budget.
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