Search Results for: melbourne
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Real Estate News
Auction volumes up 13 per cent
Capital city auction volumes increased almost 13 per cent this week, with 2159 properties going under the hammer to record a preliminary clearance rate of 60.1 per cent.
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More choice for buyers as listings rise
The total number of properties for sale is increasing in nearly every part of the country, finally giving more choice to buyers.
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Real Estate News
REA Group increases revenue as “heat” comes out of the market
REA Group has announced an increase in first quarter revenue thanks to strong listings, however, the outlook remains mixed as the “heat” comes out of the property market.
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Real Estate News
Nigel O’Neil steps down as Barry Plant CEO
Nigel O’Neil will step down as chief executive officer of real estate group Barry Plant after four years with the business. Director Mike McCarthy has been appointed as the acting CEO, with Mr O’Neil to transition his handover in the the coming weeks. A search for Mr O’Neil’s successor has started. Mr O’Neil took over the CEO role from Mr…
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Real estate industry needs to be more vigilant with data
Industry experts have called for more to be done to protect tenants', landlords' and trades' personal and financial information following a recent data breach.
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INDUSTRY NEWS
October clearance rates hit a seven-month high
Auction clearance rates bounced to a seven-month high across the combined capitals and volumes have risen as sellers adjust to the new market conditions.
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Real Estate News
Highest auction clearance rate since late May
Sydney led the charge as the auction market recorded its strongest preliminary clearance rate since late May, with 1883 properties going under the hammer across the combined capitals.
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Perth most affordable for first home buyers
Perth is the cheapest location in Australia to buy a home with the outer suburbs representing good value for first home buyers according to an expert.
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FRANCHISE NEWS
Harcourts confirms cyber incident
Real estate company Harcourts has today confirmed that its Melbourne City franchisee has been the victim of a cyber incident. In an official release, Harcourts Australia stated that on October 24, the Melbourne City franchisee became aware its rental property database had been accessed by an unknown third party without authorisation. “Each Harcourts office operates as an independent franchise with…
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INDUSTRY NEWS
Interest rates and lending buffer see investors stuck on the sidelines
The rapid increase in interest rates is continuing to weigh on property prices and is making it more difficult for buyers to enter the market, according to a new report.
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Home price falls stabilise in October
National home prices recorded a small decline in October as values continue to stabilise.
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Real Estate News
Reserve bank lifts interest rates 0.25 per cent
With inflation at its highest level in more than three decades, the Reserve Bank of Australia has announced its seventh consecutive rate rise of the year, bringing the current official cash rate to 2.85 per cent.
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Major banks tip cash rate will peak at 3.85%
Today's 0.25 per cent increase to the cash rate is less than two of the big banks predicted, with both the NAB and Westpac tipping it would rise 0.5 per cent on Melbourne Cup day.
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INDUSTRY NEWS
Land sales spike in South East Queensland
Demand for land in South East Queensland remains elevated with sales up to 10 times higher than pre-pandemic levels in some areas while just seven suburbs have a median price under $300,000.
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Young high-flyer smashes expectations with help of Area Specialist
When Stacey Woodfield walked out of school and into an office job at a real estate agency in 2015, she never imagined she was on a path that would take her to being her own boss at 25.
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Experts predict another cash rate rise from the RBA
There’s likely more pain ahead for borrowers with 97 per cent of experts expecting the RBA to hike the cash rate at the November meeting.
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Real Estate News
Melbourne Cup weekend sees auction volumes and clearance rate dip
Auction volumes dipped this week, with the preliminary clearance also falling to its lowest level since late August.
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House prices are falling at the fastest quarterly rate on record
Rising interest rates, surging inflation and high levels of household debt have seen home prices across the country fall at their fastest-ever quarterly rate.
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Unit prices falling slower than houses
Unit values across the country are likely to be more resilient during the current market downturn according to an expert.
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It’s still possible to buy a house under $1 million within 5km of the city
Despite the record increase in house prices across the country in recent years, it’s still possible to find homes under $1 million within 5km of the city.
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Rain and trains hampering office occupancy recovery
Continued heavy rain across the East Coast as well as public transport disruptions have slowed the return to the office for many CBD workers.
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Rental supply at the lowest level in two decades
Rental stock across Australia has reached the lowest level since 2003 led by the reopening of international borders, putting more pressure on renters than ever before.
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Real Estate News
Three Australian suburbs named among the world’s coolest
The world's coolest suburbs have now been named by online magazine Time Out.
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Sydney property prices have fallen 10 per cent since February
Property prices in Sydney continue to feel the effects of the downturn, with new data showing values have now declined 10.1 per cent from their peak, according to CoreLogic.
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Property manager Kate Hansen’s second chance at life
On her 32nd birthday, Kate Hansen died for 15 minutes. The Ray White property manager, who was desperately ill and in need of a kidney and pancreas transplant, was brought back to life by paramedics using CPR for 90 minutes.
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INDUSTRY NEWS
Victorian Government provides $1.1 billion boost to shared equity scheme
The Victorian Government has announced a $1.1 billion expansion to its shared equity home buying scheme.
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Real Estate News
Auction volumes rise above the 2000 mark
Auction volumes have risen above the 2000 mark for just the third time since June but still remain well below the number of properties going under the hammer this time last year.
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INDUSTRY NEWS
Could property prices return to pre-Covid levels?
National property prices would need to fall 16.7 per cent for values to be back at pre-Covid levels according to CoreLogic.
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INDUSTRY NEWS
Metro property management setting the standard for Victorian landlords
Melbourne-based property managers Metro PM have tapped into technology designed to see properties tenanted faster and grow their rent roll.
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INDUSTRY NEWS
Rising interest rates weigh on median home prices: HTW
The Reserve Bank of Australia’s sharp tightening cycle has started to see median home prices fall across the country, according to the latest Herron Todd White (HTW) Month in Review.
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Real Estate News
Property values fall in majority of house and unit markets
Almost 80 per cent of Australia’s house and unit markets are now in decline.
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INDUSTRY NEWS
Melbourne’s median house price drops below $1 million
Melbourne house prices have slipped back under $1 million, creating an opportunity for buyers.
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INDUSTRY NEWS
Record low share of rentals below $400 per week
Tight rental markets are putting extra pressure on low-income renters as the share of rental properties listed below $400 per week has hit a record low.
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OPINION
Time use survey shows a more relaxed lifestyle in most, but not all, of regional Australia
Every 15 years, the Australian Bureau of Statistics conducts a time use survey. Around 2,000 households are given diaries to record how they spend their time.
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