Search Results for: melbourne
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Real Estate News
The best suburbs for auctions
CoreLogic’s recent auction data for the June quarter showed that both the number of auctions and the clearance rate dropped significantly. But certain suburbs performed much better than others. In Sydney, the highest performing suburb was Cremorne, with 23 of 30 properties under the hammer selling, a 76.7 per cent clearance rate. Other hot areas in Sydney included Leichhardt with…
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Elite Agent
Confidence within the property industry is on the rise
The easing of COVID restrictions over the last few months has resulted in a surge of confidence in the property industry since April. The latest ANZ/Property Council survey took place between June 15 and July 1, surveying 955 industry folk. Not surprisingly, the states and territories with the biggest shift in sentiment were those least impacted by COVID-19: South Australia,…
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Real Estate News
Surprise drop in national residential property listings
National residential property listings dropped by 1 per cent from May to June, according to new figures from SQM Research. Listings are also down 7.5 per cent from last June. There were just shy of three thousand fewer properties listed in June, with listings down from 304,137 in May to 301,140. Perth and Melbourne were the only capital cities to…
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Real Estate News
Rental vacancy rates dropped nationally in June
More rental properties are being filled, with the national residential rental vacancy rate decreasing to 2.2 per cent throughout June, according to SQM Research. In May, 2.5 per cent of properties were vacant, with the vacancy rate this time last year sitting at 2.3 per cent. As of June 30, there were 77,132 vacant residential properties across the Australia. In…
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Elite Agent
Auction action drops in June quarter
The June quarter saw both auction volumes and the clearance rate drop as many sectors of Australian business were severely impacted by COVID-19, the latest CoreLogic data reveals. Social distancing measures were increased immediately prior to the June quarter, including a ban on all on-site auctions and inspections. Coupled with the economic crisis, many property owners withdrew their homes from…
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Real Estate News
HTW Month in Review sees southern capitals top of the property clock
Heron Todd White (HTW) has released their month in review, with a series of new suburbs entering different positions on the property clock courtesy of recent Covid-19 events. Top of the clock are a swag of new areas, with Adelaide, Melbourne, Canberra and Hobart among them, while Sydney continues to be positioned in the beginning…
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Real Estate News
Preliminary clearance rate shows 62.2 per cent of homes sold at auction
As the weekend results continue to come in, the resumption of lockdowns in Melbourne appears to have had a mixed impact on the auction market, with the Victorian capital recording higher volumes than last year, an increased number of properties withdrawn and a preliminary clearance rate of 63.7 per cent. CoreLogic notes these results are…
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Real Estate News
Yes Victoria, you can still move during lockdown
REIV President Leah Calnan has welcomed clarification from the Victorian State Government that a person living outside of a restricted area can inspect a home inside a restricted area and vice versa. Many REIV members were left confused following the State Government’s decision to enforce Stage Three restrictions in Metro Melbourne and Mitchell Shire and not regional Victoria, with many…
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Elite Agent
Rentals see biggest price drop in over 15 years
Rental prices have plummeted nationwide, with unit rentals experiencing their biggest price drop in over 15 years, according to new figures released by Domain that show a historic fall of 3.2 per cent over the June quarter. “The rental market has become highly fragmented in recent months,” Domain Senior Research Analyst, Dr Nicola Powell said. “Rental prices fell across most…
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Elite Agent
REIV: Melbourne is prepared for new COVID restrictions
As Melbourne returns to stage three lockdown, local real estate agencies are feeling a sense of deja vu – which, luckily, makes them well prepared to deal with the recent shift in fortunes. “Real estate in Melbourne and Mitchell Shire will continue to service the community with online inspections returning along with online auctions,” REIV President Leah Calnan said. Inspections…
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Elite Agent
Metropolitan Melbourne and Mitchell Shire return to lockdown: why we need to be vigilant
Philip Russo, Monash University and Brett Mitchell, University of Newcastle Metropolitan Melbourne and the shire of Mitchell will returned to Stage 3 stay-at-home restrictions as of midnight Wednesday, Premier Daniel Andrews has announced, after 191 new cases were recorded in the state overnight – its highest ever daily case total. The lockdown means for the next six weeks, people in…
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Elite Agent
Capital city apartment values to be hit the hardest, experts predict
The latest Finder RBA Cash Rate Survey is out, and it’s not the best news for apartment owners. 43 experts and economists were asked to predict various aspects of the housing markets, including the projected values of apartments and houses in the eight capital cities. They predict price drops of between 7-8% price drops by the end of September for…
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Real Estate News
Victorian lockdowns do little to dampen buyer enthusiasm
Two additional postcodes have been added to the list of locked down suburbs in Victoria, with Kensington, Flemington, Hotham Hill and North Melbourne joining the restricted areas as of midnight Saturday. They add to a lengthy list of suburbs already subject to restrictions due to a surge in Covid-19 cases in the Victorian capital. According…
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Real Estate News
Preliminary clearance rate improves while fewer homes taken to auction
Preliminary clearance rate improves while fewer homes taken to auction As is traditionally the case, school holidays had a direct impact on auction volumes this week across the capitals, with a total of 1185 homes scheduled for auction compared to 1485 last week. While volumes were lower, the clearance rate trended higher, according to CoreLogic…
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Real Estate News
Successful Footscray agency migrates to Greg Hocking Footscray
Successful Footscray agency migrates to Greg Hocking FootscrayThe Footscray team has moved across to Greg Hocking to launch the network's new Footscray office, bringing with them a wealth of experience and insider knowledge of one of Melbourne's most dynamic, appealing suburbs."We wanted to be…
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Real Estate News
Domain print titles to start publishing again
Domain Magazine will start republishing its print magazines this month.Production and distribution restrictions, coupled with a ban on live auctions, forced Domain to suspend print publishing at the end of March.Domain Magazine will restart publishing on Friday July 31 in the Australian Financial Review, and the following day in The Age and Sydney Morning Herald.Sydney…
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Real Estate News
Are you in a HomeBuilder boom area?
The Federal Government's Home Builder Grant looks set to stimulate the economy, with the December deadline to sign with a builder causing many to leap into home ownership.Wealthi's co-founder Domenic Nesci has pinpointed the areas most likely to see a boom in production."Western Sydney is perfectly placed to benefit from the incentives, new investments in…
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Real Estate News
Values fall in June across the larger capital cities
Despite Australians beginning to take baby steps out in the world again, real estate values across the combined capitals have continued to drop for the second month in a row, falling 0.7 per cent in June, after a 0.4 per cent decline in May. But it’s not all bad news for owners – especially those in Hobart and Darwin. The…
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Real Estate News
Real estate goes online in Covid-19 hotspots
The Victorian Government on Tuesday announced that in light of rising cases of Coronavirus, ten postcodes with the highest amount of incidents would return to Stage 3 restrictions. REIV President Leah Calnan said real estate business will adapt their processes by reverting to inspections by appointment and online auctions in Melbourne’s ten COVID-19 hotspots. “Any return of restrictions is frustrating…
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Real Estate News
Auctions go back online for some suburbs in Victoria
Public auctions and open for inspections have been taken off the agenda in Melbourne's current coronavirus hotspots. While Victorian Premier Daniel Andrews has ordered the establishment of into the operation of the hotel quarantine program thought to be the cause of the community transmissions, it's a case of back to the future for the real…
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Real Estate News
Seller confidence on the up as clearance rate holds steady
Seller confidence continues to improve with the capitals reporting the highest number of auctions in nine weeks on Saturday, along with volume and clearance that exceeded this time a year ago. CoreLogic reported 1424 homes went to auction at the weekend, returning a preliminary clearance rate of 64.5 per cent. “This was the highest number…
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Elite Agent
The new opportunities of working from home
Obviously, the pandemic is still a very much a reality for everyone. Yet as restrictions ease, it is also clear that people, at least in terms of mindset, are thinking about what comes next. It’s true across many aspects of our lives, including our homes. After being in lockdown for so long, many people are reconsidering the suitability of their…
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SELLING + MARKETING PROPERTY
Boosting exposure with innovative marketing
With listings and transactions taking a hit as a result of COVID-19, agents have increasingly been looking to more innovative marketing tactics to gain exposure for their properties. Collings Real Estate‘s leading sales agent Christian Gravias has been successfully implementing a range of unique marketing strategies that have proven highly effective in the current climate. The Melbourne agent has focused…
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Real Estate News
Australian expats looking to buy ‘back home’ in the luxury market
Australian expats are increasingly looking to purchase property ‘back home’ as the impact of Covid-19 unfolds, and many of those are looking to buy at the higher end of the residential market, according to a Knight Frank survey. The survey, carried out amongst Knight Frank’s global network of prime agents, found 64 per cent said the lockdown had influenced expats’…
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GUEST INTERVIEWS
Selling and marketing luxury property with Deborah Cullen
Do you want the inside running on how some of Australia’s most prestigious homes are marketed for sale? Would you like to know why sharing fees can help create a cohesive, one for all and all for one, culture in a team that sells together and not as individuals? In this episode of Elevate, Deborah…
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Real Estate News
Homely hits 400 partners across the country
A milestone 400 launch partners – including many industry heavyweights – have signed on to Homely’s Agent Participation Program nationally, helping the company on its way to its goal of providing an affordable digital real estate marketplace in Australia. The program, which provides agents with a financial interest in a major national real estate portal, aims to create a new…
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Real Estate News
Clearance rate continues to climb on the back of higher volumes
Both auction volumes and the clearance rate lifted this week, with 1262 homes scheduled for auction in the capitals, returning a preliminary clearance rate of 66.1 per cent. CoreLogic reported this was up from the 63.3 per cent preliminary clearance rate returned last week across 1181 auctions, which later revised down to 59.3 per cent…
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Real Estate News
Pandemic doesn’t stop real estate professionals changing lives across the water
When the not-for-profit program Digital Live was conceived in 2017, Steve Carroll was determined to make a difference to the lives of children in need across the water. And he knew exactly who to call on to help make this vision a reality: the passionate Australian real estate industry. Fast forward to 2020 and the achievements are astounding. In just…
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Elite Agent
Hyper local prospecting
Real estate agents looking to expand their digital footprint and low-cost marketing options should consider homely.com.au, its Co-CEO Jason Spencer says. Speaking as part of Transform 2020, Jason said the popular real estate platform drew interest from 18 million visitors last year, who were attracted to its unique, hyper-local, user-generated content. Founded in 2014, homely.com.au is like the Tripadvisor of…
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Real Estate News
Preliminary auction clearance rate rises as volumes increase
The preliminary clearance rate lifted to 63.3 per cent this week as volumes also showed further signs of increasing. Across the capitals, CoreLogic reported 1164 properties were scheduled for auction; the busiest week for auctions since the week ending 19 April. Last week, there were 711 scheduled auctions with a preliminary clearance rate of 59.8 per cent, which later revised…
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Real Estate News
Where are the latest home renovation hotspots?
On the back of the new Federal Government HomeBuilder package, property valuation group Herron Todd White has taken a look at the areas in each Australian capital city that are leading the way with renovations. The new HomeBuilder package gives $25,000 to renovators who are looking at spending over $150,000 to improve their home. However, to qualify you need to…
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Real Estate News
Westpac Group cuts new customer rates in a bid to boost its home loan book
Australia’s second largest bank, Westpac, has cut its basic variable rate to 2.69 per cent, but the offer is solely reserved for new customers with a deposit of more than 30 per cent. Westpac’s new rate is now the lowest variable home loan offered by a big four bank. Westpac Flexi First Option Home Loan changes: Note: above rates are…
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Real Estate News
Auctions soften over long weekend
The long weekend delivered both a lower volume of auctions and a softer clearance rate as most states and territories kicked back to enjoy the Queen’s Birthday public holiday. This week, CoreLogic reported 694 capital city homes were scheduled for auction, with preliminary results returning a 59.8 per cent clearance rate. The previous week saw 856 homes scheduled for auction…
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Real Estate News
Realtor.com names Rachel Morley as Chief Product Officer
Real estate technology platform Realtor.com has promoted Rachel Morley to Chief Product Officer, where she will lead product strategy for the company. For more than two decades, Ms Morley has helped companies conceive, create and evolve products and technology practices that help organisations and their customers succeed. David Doctorow, CEO of Move, Inc, operator of realtor.com, said Ms Morley is passionate about…
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Real Estate News
The RBA leaves rates on hold in June
The RBA has elected to keep the cash rate on hold at the record low level of 0.25 per cent. At its June meeting on Tuesday, the board decided to continue with a wait and see approach which was in line with what most analysts had been expecting. The RBA had slashed the official cash rate from 0.75 per cent…
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