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INDUSTRY NEWS
Three-quarters of Aussie borrowers have had their interest rates increased
Australian borrowers have felt the pinch of rising interest rates with 77.1 per cent of mortgage holders already experiencing a rate hike, according to a new survey.
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INDUSTRY NEWS
Australia’s very own Schitt’s Creek hits the market
If you’ve ever dreamed of owning your own town, just like the Rose family's infamous purchase in the hit TV show Schitt’s Creek, then you might have your opportunity with the small Victorian town of Coopers Creek hitting the market.
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INDUSTRY NEWS
New tenancy laws could prove problematic for Queensland landlords
The Real Estate Institute of Queensland (REIQ) has pushed back against State Government changes to rental laws, which could see landlords “inherit a tenant for life”.
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INDUSTRY NEWS
Australian property market turns “multi-speed”
The Australian property market has turned “multi-speed”, with different markets growing at different rates according to a new report.
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Celebrity Homes
Getty Oil heiress buys Disney heir’s Spanish Colonial Revival estate
The granddaughter of oil tycoon J. Paul Getty has purchased a historic Los Feliz home to add to her impressive property collection.
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Celebrity Homes
Snapchat CEO finally closes on $120 million Los Angeles estate
Snapchat billionaire Evan Spiegel has finally closed the deal for his new Los Angeles home after a long two-year wait.
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INDUSTRY NEWS
New building and construction solutions needed to address rental crisis
Better design, improved construction practices and new rental models could alleviate the risk of rental stress according to urban research experts.
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INDUSTRY NEWS
National vacancy rate drops to a record low
The national vacancy rate has tumbled to a record low, dipping under 1 per cent and heaping more pressure on tenants already struggling with rising rents.
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COMMERCIAL
Demand for CBD office space slowly returns
Demand for office space remains solid as tenants slowly return to CBDs across the country.
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INDUSTRY NEWS
Falling investor lending to put pressure on renters
The rate of growth of new home loans to investors is slowing which could make it harder for tenants to find rental properties according to an expert.
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Commercial Real Estate
Sub-$2 million commercial market to remain strong
Commercial property valued under $2 million is likely to remain in demand, despite rising interest rates reducing the pool of buyers.
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INDUSTRY NEWS
Perth defies national trend as house prices continue to rise
Perth property prices have been able to buck the national trend and record a rise in values last month.
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Real Estate News
New home loan values fall as interest rates rise
Rising interest rates are seeing homebuyers less willing to borrow, while at the same time house hunters are seeing their borrowing capacity slashed.
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Celebrity Homes
Paris Jackson buys rustic Hollywood Hills retreat
Michael Jackson’s only daughter, Paris Jackson has sold the first house she ever owned and is relocating to the Hollywood Hills, after purchasing a US$3.8 million cabin.
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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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