Search Results for: melbourne
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INDUSTRY NEWS
Rental market is ‘extremely challenged’ as listings drop and rents soar
A chronically challenged rental market, fuelled by record low supply and soaring weekly rents, is creating a self-perpetuating housing crisis where would-be first-home buyers are finding it increasingly difficult to stop renting and buy a home.
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INDUSTRY NEWS
Investors flee Victoria causing more pain for tenants
Already in the grips of a rental crisis, investors are selling off their Victorian investment properties en masse, discouraged by the raft of taxes and regulatory burdens that are being thrust upon them.
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INDUSTRY NEWS
Surging immigration sees overseas buyers targeting Australian property
Overseas buyers are increasingly targeting Australian property, with new data showing online searches have surged back above 2019 levels.
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INDUSTRY NEWS
Inflation jumps as banks predict a November rate hike
Borrowers could be in for a Melbourne Cup day rate hike according to the major banks as the latest inflation data suggests the Reserve Bank of Australia (RBA) might have more work to do.
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INDUSTRY NEWS
Property market to recoup 2022 downturn by the end of the year
Australia’s property market has almost entirely recovered from the 2022 downturn and will do so by the end of the year, according to Domain.
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INDUSTRY NEWS
First-home buyers opting for “memories not mortgages”
First home buyers are increasingly First-home buyers are increasingly opting for “memories not mortgages” as the high cost of getting into the market makes owning a home less appealing to younger generations in the post-Covid world.
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INDUSTRY NEWS
Fleeing the CBD: Australia’s rising rents force tenants to the fringes
Australia’s combined capital city rents have soared a further 10 per cent in the year to September, with tenants forced to look further away from the CBDs to find cost-effective properties.
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Real Estate News
Can housing keep up with Australia’s forecast population boom?
Australia’s population is set to grow by $7.4 million by 2041, requiring an extra two million homes across four major cities to cater for more than 65 per cent of the forecast population spike.
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INDUSTRY NEWS
November sellers can achieve a premium price
Homeowners who want to sell should consider selling in November, with new data showing that sellers achieve a 0.8 per cent premium compared to the rest of the year
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INDUSTRY NEWS
Simon Cohen and Joshua Meli join forces to help everyday Aussies build wealth through property
Leading property buyer’s agent and Cohen Handler Chief Executive Officer Simon Cohen, has joined forces with Joshua Meli to form CH Secure.
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INDUSTRY NEWS
Propertyology boycotts Victorian real estate
National property market analysts and buyers’ agency, Propertyology, will boycott investing in Victorian real estate until the State Government improves its attitude towards investors, policies, government finances and economic management.
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National
600,000 potential granny flat sites identified to help with housing crisis
More than 650,000 properties are suitable for the construction of granny flats across Australia’s three largest states, according to new research.
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INDUSTRY NEWS
Investors can still find affordable options
Despite near-record high property prices across the country, there are still affordable locations for investors, according to a new report.
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National
Sydney and Melbourne’s southeastern suburbs emerge as wise investment choices for 2024
Sydney and Melbourne’s southeastern suburbs are shaping up to be investment hotspots in 2024, courtesy of improved infrastructure, good schools and lifestyle amenities.
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INDUSTRY NEWS
New listings up annually but dip in September
Vendors have returned to the market this Spring, with new data from PropTrack showing that new listings are up 4.5 per cent compared to last year.
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INDUSTRY NEWS
Foreign investors offload Australian commercial property
Foreign investors have reduced their exposure to Australian commercial property, as higher interest rates and soft returns for office and retail weigh on sentiment.
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FRANCHISE NEWS
Queensland agent to set a new benchmark in Cairns
Over an 18-year career, Queensland agent Adam Saitta has worked with both big brands and boutique agencies, and now he’s set to tap into that extensive industry insight with the launch of his own brand, Benchmark Real Estate.
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INDUSTRY NEWS
Vacancy rates plummet to another record low
National vacancy rates have tumbled to yet another record low, with three capital cities recording a vacancy rate under one per cent.
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APPOINTMENTS
Liza Balian joins First National as business growth manager for Victoria
Liza Balian has joined First National Real Estate’s Business Growth Management team in Victoria, with a remit to accelerating the network’s growth across the state.
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INDUSTRY NEWS
Auction volumes hit the highest level in more than 12 months
Spring selling season is well and truly back in force with new data showing that auction volumes have spiked to the highest level since May 2022.
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INDUSTRY NEWS
World’s tallest timber tower gets the go ahead in Perth
A groundbreaking development in South Perth has received approval to become the world's tallest hybrid timber tower.
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INDUSTRY NEWS
Nationwide housing drought: Australia’s vacancy rates plunge to record low
Australia needs up to 70,000 additional rental properties to create a balanced market, which is a need unlikely to be met anytime soon.
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INDUSTRY NEWS
Adelaide leads the way as Australian home values rise for eighth straight month
Home values have risen 0.8 per cent in September as the nation’s supply and demand imbalance pushes prices skyward.
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INDUSTRY NEWS
Lower prices for unrenovated homes starting to entice buyers
Rising construction costs, led by shortages of trades, are making buyers wary of unrenovated homes, however, lower prices are starting to make them more appealing according to the latest Herron Todd White (HTW) Month in Review.
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INDUSTRY NEWS
Rents set to keep rising across the country
Rents are expected to keep on rising in Sydney, Melbourne and a number of the smaller capital cities and regional areas according to new research.
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INDUSTRY NEWS
Increasing number of homeowners selling in under three years
Short-term selling is on the rise, with homeowners trading their property after owning them less than three years.
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INDUSTRY NEWS
View Media Group launches new real estate portal
Antony Catalano’s View Media Group (VMG) has launched property portal view.com.au, with an innovative listings model where sellers can list their homes for free.
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INDUSTRY NEWS
Knockdowns and rebuilds don’t always mean gentrification and rising prices
Suburbs that are seeing a high number of homes being knocked down and rebuilt doesn’t necessarily mean the area is going through gentrification or that prices will rise according to an expert.
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INDUSTRY NEWS
House prices set to surge by June 2025
House prices will rise almost 15 per cent nationally by June 2025, with limited property supply, heavier migration and anticipated interest rate cuts fuelling the growth.
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INDUSTRY NEWS
QLD and NSW aren’t releasing enough land to meet surging population
New South Wales and Queensland are not releasing enough land to keep up with surging population growth, according to a new report.
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Real Estate News
Auction numbers surge, clearance rate remains steady
Australia’s auction market is holding steady, with solid clearance rates last week, as the number of properties going under the hammer surged.
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INDUSTRY NEWS
Victorian land prices surge by up to $1 million
Victorian land values have exploded since 2020, with a number of areas seeing prices rise almost $1 million.
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INDUSTRY NEWS
Over 96 per cent of homes resell at a profit
With property prices again on the rise, 96.3 per cent of sellers have locked in profits this year, according to new data.
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INDUSTRY NEWS
Victoria announces major overhaul to rental, planning and housing policy
The Victorian Government will introduce mandatory continuing professional development for real estate industry professionals and implement the biggest shake-up in rental, planning and housing reforms in generations, it was announced today.
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INDUSTRY NEWS
Aussie suburbs where upsizers will find the best value
Despite high property prices, tight inventory levels and rising interest rates, people looking to upgrade their homes to something bigger are still able to find good opportunities according to new research.
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