Search Results for: melbourne
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Real Estate News
Property prices remain ‘resilient’ in May despite lockdown
Property prices across Australia’s capital cities have fallen for the first time since June last year. Against the backdrop of wide-ranging shutdowns, the latest data from CoreLogic has shown the combined capital cities have fallen by 0.5 per cent in May. The results around the country were mixed, with Adelaide, Hobart and Canberra all recording price increases, while it was…
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Real Estate News
Clearance rate and auction volumes continue to strengthen
Auction volumes have continued to strengthen this week as the capital city clearance rate remains a heartening 65.9 per cent. Although the volume is still tracking at just over half that recorded during the same time in 2019, this week 867 capital city homes were scheduled for auction. The previous week saw 612 homes scheduled for auction and a final…
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Real Estate News
Clearance rate hits pre-Covid high as volumes continue to lift
The combined capital city clearance rate has rebounded to its highest level since early March, surpassing the 70 per cent mark as volumes also show signs of improving. This week, 613 auctions were scheduled across the capitals, marking an increase on previous weeks and returning a promising clearance rate of 70.9 per cent. CoreLogic notes this was the highest preliminary…
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SELLING + MARKETING PROPERTY
If these walls could talk: How videography can tell luxury homes’ stories
For two decades, Tracey Atkins has been bringing the stories of some of the world’s most opulent and well-known homes to life. With an innate ability to capture the aura, the history and the essence of a property, Tracey and her Goldeneye Media team have created marketing films unlike any others. Breathtaking videography and still images combine with carefully crafted…
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Real Estate News
Australian property market: Decade in review
It commenced under the shadow of the GFC and with widespread floods around the country. It ended on the dawn of Covid-19 with some of the biggest bushfires in Australian history. Propertyology’s ‘Decade in Review [2010-2019] Report’ describes it as a decade of contrasts in many ways. Over the 10-year period, median house prices had increased from $530,000 to $972,000…
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Real Estate News
Clearance rate strengthens on the back of eased restrictions
Relaxed social distancing regulations are showing early signs of positively impacting the auction market, with Sydney this week bouncing back to a preliminary clearance rate of 73.4 per cent. The welcome bolster to Sydney’s results helped lift the capital city clearance above 60 per cent, but CoreLogic is urging caution when analysing the results, with volumes still trending lower. Their…
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LEADERSHIP
Leanne Pilkington: Smart, strategic, and not to be underestimated
While Leanne says she is honoured to have received the award, she is – by her own admission – a somewhat disbelieving face of the women’s real estate movement. “The only special thing about me is my willingness to work hard,” she reflects. “That’s really what has got me to where I am, bloody hard work.” It’s that tireless work…
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Real Estate News
On-site auctions resume but numbers still low
The number of homes scheduled for auction continues to trend lower, despite most states having lifted the ban on on-site auctions and inspections. Only 365 auctions are scheduled this week, lower than the 480 auctions last week – and it’s likely to be a few weeks before there’s an uplift in scheduled volumes due to agents generally running four-week marketing…
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Real Estate News
Auction clearance rate jumps – is this the start of recovery?
Auction clearance rates have hit 59.9 per cent on the back of on-site auctions resuming in New South Wales last week – the highest clearance rate result since strict social distancing measures were rolled out across Australia. According to CoreLogic, the clearance rate for the week ending 10 May was up from 47.5 per cent the previous week and a…
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Elite Agent
Clearance rate lifts as on-site auctions ready for return
As auctions prepare to welcome back the public on-site, the clearance rate has enjoyed a boost. CoreLogic notes this week’s preliminary clearance bounced back to 64.5 per cent, marking the first time it has exceeded 60 per cent since late March. Volumes on the other hand, remain subdued. The past weekend saw 473 auctions scheduled, which was down on the…
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Real Estate News
How property markets are responding to COVID-19 according to Herron Todd White
The COVID-19 crisis has thrown the national economy into turmoil, while property markets are still clearly trying to digest what it all means. Leading valuers Herron Todd White (HTW) have tabled their thoughts on what each state is facing and what might lie ahead for the nation’s residential property markets. NSWSydney has been at the forefront of the battle against…
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Real Estate News
Auction volumes still down but comeback on the way
Low sentiment, tough selling conditions and regulations preventing open homes and on-site auctions continue to push the number of scheduled auctions down this week – but an uplift could be coming sooner than expected. CoreLogic reports 424 capital city homes are scheduled for auction, down on the 612 homes auctioned last week. But with news the NSW and WA state…
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Real Estate News
Auction withdrawals hit all-time high as vendors and agents adapt to COVID-19 regulations
Auction withdrawal has spiked to about eight times the usual rate and the clearance rate for the combined capital cities has reached record lows since on-site auctions and property inspections were banned in response to the COVID-19 crisis. CoreLogic reports from the week ending 29 March to the week ending 3 May, the portion of scheduled auction events withdrawn averaged…
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Real Estate News
The Real Estate Institutes respond to COVID-19 impact on Australian property
As the far-reaching impacts of COVID-19 continue to be felt, the heads of the nation’s Real Estate Institutes have had their say on how they expect it will impact the Australian property industry. Responding to Ripehouse Advisory’s Whitepaper COVID-19 vs Australian Property, most industry heads are on the same page, remaining cautiously optimistic. Across the board, the consensus has been…
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Real Estate News
Rental Heroes introduces AI-chatbot ‘Alex’
Rental Heroes has introduced an AI-chatbot named “Alex” who is designed to help property managers by communicating directly with tenants to handle everyday requests and issues, including maintenance. The Melbourne-based proptech co rolled Alex out recently and explains the technology allows every property manager to have their very own property assistant. Rental Heroes has a focus on helping property managers…
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Real Estate News
House prices remain steady as transactions slow
Despite the nation-wide shutdown that has made life tough-going for most real estate agents, house prices have remained stable throughout April. According to the latest data from CoreLogic, house prices nationwide ticked higher, up 0.3 per cent. House prices in Sydney increased by 0.4 per cent, however, values did ease in Melbourne, with prices down -0.3 per cent over the…
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Real Estate News
Auction volumes to remain low for foreseeable future
Auction volumes are likely to continue at a lower rate for the foreseeable future, according to CoreLogic, with just 590 properties scheduled for auction across the capitals this weekend resulting in a clearance rate of 59.6 per cent. Volumes were up slightly on the week prior when 413 homes were scheduled for auction and a final clearance rate of 41.1…
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Real Estate News
Which rental markets are most impacted by COVID-19?
COVID-19 is having varied impacts on residential property, but arguably the biggest impact could be in the rental space. According to CoreLogic, prior to COVID-19, the Australian rental market was already weak and with new challenges like Australian borders remaining closed to tourists and government policies restricting short-term rental arrangements, some Airbnb rentals are converting to long-term rental supply. CoreLogic…
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Elite Agent
Housing policies need change as COVID-19 widens renter-owner divide
The renter-owner gap will widen Despite concerns about house prices plummeting, the spread of COVID-19 is exposing a widening gap in housing markets between those who own zero housing wealth (renters) and those with substantial housing wealth (owners). Australians with little to no housing wealth were already experiencing at least three key types of vulnerabilities before the pandemic in the…
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Real Estate News
Auctions nosedive on back of pandemic and public holiday
The number of homes scheduled for auction this week took a dive, with only 314 properties scheduled for auction across the combined capital cities. According to CoreLogic, the lower volumes are partly due to coronavirus reducing the number of vendors serious about taking their property to auction in more challenging conditions, and also because Anzac Day falls on Saturday –…
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Real Estate News
Higher auction volumes again weighed down by withdrawals
Scheduled auction volumes increased this week, almost trebling in numbers after the Easter weekend, but as seen in previous weeks the results were weighed down by withdrawals, with the clearance rate coming in at 39.1 per cent. Across the capitals 1848 properties were listed for auction compared to 634 the week prior, according to CoreLogic’s figures. Of the 356 properties…
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Real Estate News
Record realestate.com.au audience shows Australia’s property passion remains
Leading real estate website realestate.com.au has achieved a new record audience for March, with 10.7 million people visiting the site. The milestone comes as the real estate industry is being forced to operate under new guidelines in order to minimise the spread of COVID-19. Realestate.com.au has remained laser-focused on helping the property industry adapt to new operating requirements with limited face-to-face interactions.…
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Real Estate News
REA’s new COVID-19 features and support recapped
REA Group has announced a raft of new features to assist agents as they navigate the COVID-19 landscape and this week they moved to clarify what is currently available along with ongoing support measures. Noting the situation continues to evolve, REA CEO Owen Wilson last week said the focus is clear: to provide customers with ongoing flexible support measuresto launch…
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Real Estate News
Why property price growth always leads a crisis recovery
Just as it did with past crises, the adverse economic impact from this coronavirus health crisis will begin its rebound with a real estate surge before anything else. Safe as houses! Residential real estate is the one thing which is common to 25.5 million Australians. After all, shelter is an essential commodity. While we all take one for the team…
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Real Estate News
Clearance rate weighed down by withdrawn auctions
Over 3000 properties were slated to go under the hammer this weekend. But according to CoreLogic 45 per cent were withdrawn from sale and a further 84 per cent of auctions sold prior to the event, resulting in a preliminary clearance rate of 48 per cent.
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Real Estate News
House price growth begins to slow
Despite the unprecedented social distancing measures put in place to stop the spread of the coronavirus, home values across the country pushed higher in March. According to the latest data from CoreLogic, prices rose by 1.1 per cent in Sydney, 0.4 per cent in Melbourne, 0.6 per cent in Brisbane and Canberra, 0.5 per cent in Perth and 2 per…
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Real Estate News
REIA president Adrian Kelly calls on stakeholders to step up over rent relief
As the real estate sector awaits a government announcement on rent relief, REIA president Adrian Kelly has issued an open letter to all stakeholders, urging them to step up and consider all sides of the equation. Addressing tenants, property owners, landlords, lobby groups, the industry and State Governments, Mr Kelly minced few words as he outlined the current state of…
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INDUSTRY NEWS
High volumes, lower clearance as auctions go online
Auction volumes were high, but as expected, the preliminary clearance rate took a hit across the capitals this week, falling to 61.3 per cent amid continued uncertainty surrounding COVID-19. It wasn’t for lack of innovation, however as agents worked hard to adapt to a fast-changing environment. This week was the first to see all auctions…
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Real Estate News
How a pandemic will shape communities
COVID-19 is challenging many conventions within urban development across the globe. While the pandemic is seeing Australians adopt unprecedented social distancing measures, potential lockdowns require residents to live, work, learn, and shop for daily needs and undertake passive recreational activities within their own neighbourhoods. One of Australia’s leading urban planners and designers believes that the…
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Real Estate News
REIA announces 2020 REIA National Awards for Excellence winners
The Real Estate Institute of Australia (REIA) announce the winners of the 15th National Awards for Excellence. Due to the measures currently in place surrounding COVID-19, the event planned to be held in Darwin on 2 April 2020 was cancelled. REIA President Adrian Kelly said whilst this was disappointing it was inevitable for the safety and wellbeing of all concerned. …
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FEATURE INTERVIEWS
Bigger, better and bolder
It’s no secret that property managers are often used as a battering ram, caught in the middle of the landlord’s wants and the tenant’s needs. It’s no simple task managing the competing interests of varying parties, and the complex nature of the job often sees property managers leave the profession soon after entering it. MEN…
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Elite Agent
Auctions busy, but clearance rate slows
This week proved the second busiest for auction activity in 2020, however the preliminary clearance rate took a hit as a result of continued uncertainty around COVID-19. According to the latest figures from CoreLogic, this weekend saw 2,539 homes taken to auction across the combined capital cities, returning a preliminary auction clearance rate of 61.3…
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Real Estate News
‘New normal’ continues to create competition at auction
The agility of Ray White members to adapt to the new rules surrounding large gatherings passed its first hurdle this week with many successful auction events safely held across the country. Ray White‘s members had 101 auctions scheduled on Wednesday night and the early indications are that 69 per cent have sold, with more 3.8 registered bidders per property and…
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OPINION
How will coronavirus affect property prices?
Guest contributor: Nigel Stapledon, is a Research Fellow in Real Estate, Centre for Applied Economic Research, at UNSW The bottom line is it will be negative – prices will go down. People, up until now, have been talking about the property market developing a bit of momentum, with the interest cuts we had last year and the easing in credit…
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Real Estate News
Barry Plant celebrates history and growth
The Barry Plant brand is celebrating both its history and its future, with the first dedicated commercial sales office opening in Melbourne as Barry Plant Reservoir marks 41 years in the industry. Located on St Kilda Road right on the edge of Melbourne’s CBD, the commercial sales office is the only dedicated commercial office in the group. It is headed…
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