Search Results for: melbourne
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Scaling down: two-bedroom homes are Melbourne’s top performers
The latest REIV figures show the citywide median price for a two-bedroom house increased 17.1 per cent over the year to September to $891,500 – $130,000 more than the same period last year. This was higher than the metropolitan Melbourne median price for any other property type, including four-bedroom homes at $831,000. REIV President Richard Simpson said growth for two-bedroom…
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Real Estate News
Australian commercial property market notches up FY gains; Raine & Horne
Raine & Horne Commercial have announced the launch of their latest edition of Commercial Insights, a comprehensive look at how commercial property markets are faring across the nation. Commercial Insights describes the three main factors driving commercial property: low interest rates, infrastructure projects, and a tightening supply of commercial assets. Low commercial lending rates Angus Raine, Executive Chairman of Raine…
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Real Estate News
Auction volumes normalise after last week’s lofty highs with a softening clearance rate
National auction clearance results for the week ending 05/11/2017 courtesy of CoreLogic There were a total of 2,019 auctions held returning a preliminary auction clearance rate of 66.8 percent, increasing on last week’s final clearance rate of 64.5 percent. Over the corresponding week last year, 73.6 percent of the 2,517 auction held were successful. Melbourne saw the most notable decrease in volumes;…
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Real Estate News
Rent.com.au snapshot of the market and Australia’s most expensive and cheapest places to rent
Key points Sydney’s house prices show no sign of falling; prices increased 3.33% to a median of $620/week – still the highest prices in the country by far. Rent.com.au’s October property data indicates the national median remained stable month-on-month; median prices unchanged for apartments, houses and price-per-room (rental affordability). After a downturn in apartment prices in September for Sydney, median…
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INDUSTRY NEWS
CoreLogic Property Pulse: Spring continues to see properties for sale climbing
Typically, the number of properties advertised for sale in spring climbs as vendors look to take advantage of the warmer climate and improved weather. Research analyst Cameron Kusher noted that as housing market conditions transition, stock levels remain tight across the strongest markets but are rising in areas where housing market conditions are softening. For this analysis, Mr Kusher measured…
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CoreLogic October Home Value Index: Growth conditions flat nationally but Sydney values fall
The CoreLogic October Home Value Index Results show that growth conditions remained flat on a national basis while Sydney values fall. Since moving through a peak rate of growth in November 2016, capital gains across Australia’s housing market have been losing momentum, with national dwelling values unchanged over the month of October. For October, conditions were flat across both the…
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FRANCHISE NEWS
McGrath Report 2018: John McGrath on property predictions and his top suburb picks
In the report, which is an annual assessment of the property market focusing on the Australian east coast but also featuring market analysis on regional cities, Mr McGrath expresses confidence in the property markets of smaller cities and regional areas and dismisses any talk of a bubble. “Sydney and Melbourne have become the ‘New York’s of Australia’. However, the value…
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Elite Agent
The Future of Real Estate: Meet the promising new talent at The Agency
PRINT MEDIA, DOOR-KNOCKING, letterbox drops and handwritten notes: it sounds a bit like a coaching mixtape from way back. While everyone expects the younger generation to be behind a tablet or mobile, these agents who are the future of the industry are actually more sold on the traditional listing techniques that top agents were successful with 20 years ago. But…
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OPINION
The Truth about Clearance Rates: David Holmes
With price growth slowing in Australia’s biggest housing markets, many sellers have been pondering what is the best strategy for a strong sales result. Prospective sellers keenly eye the auction clearance rate as a leading market barometer, and with a bumper volume of properties to go under the hammer this weekend, property pundits will have their opinions on what figure…
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Real Estate News
Record breaking auction volumes in VIC sees a new year-to-date high reached across the country
National auction clearance results for the week ending 29/10/2017 courtesy of CoreLogic This week, the combined capital cities saw the number of auctions held reached a new year-to-date high, with a total of 3,690 held, surpassing the previous 2017 high recorded over the week prior to Easter when 3,517 auctions were held. The higher volumes returned a preliminary auction clearance rate of…
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INDUSTRY NEWS
Construction surges, housing turnover falls and auction volumes soaring – CoreLogic Property Pulse
CoreLogic research analyst Cameron Kusher paired annual settled sales data with dwelling counts over time to show that the proportion of total housing stock turnover on an annual basis. Mr Kusher’s analysis found that over the 12 months to September 2017, just 5.0% of the national housing stock transacted; the lowest proportion of stock-turnover since April 2012 when it was…
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Real Estate News
Combined wealth of Australia’s top 5 Property Young Rich Listers is $770 million
The 100 members of the 2017 Financial Review Young Rich List have enjoyed a stunning rise in wealth this year, with a booming property sector, technology market and beauty industry boosting overall wealth to a record $13.2 billion. The technology sector tops the list with Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar’s combined wealth of $6.08 billion. The technology duo’s…
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INDUSTRY NEWS
Victoria braces for record auction weekend
The previous record for auctions held in a single weekend was set in November 2015 when 1,712 auctions were held. A remarkable 1,826 auctions are scheduled for this Saturday alone with around 75 auctions being held on Sunday, including the five Block properties. In total, 1,935 homes will go to auction this week with high auction volumes in Camberwell (29…
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INDUSTRY NEWS
Richard Simpson elected REIV President for 2017-18
He has also provided extensive input to a number of Institute committees, serving as Commercial & Industrial Chapter Chair for three years and Members Council Chair for two years. Mr Simpson is a partner in the family business W.B. Simpson & Son, located in North Melbourne with a history dating back over 145 years and both his father and grandfather…
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INDUSTRY NEWS
Melbourne house price growth moderates as policies show positive impact for first homebuyers
New REIV data shows the metropolitan Melbourne house price recorded its lowest increase in almost two years, up just 0.7 per in the September quarter to $817,000. REIV Acting President Richard Simpson said the moderation was attributable to 44 per cent of all sales in the September quarter being below $600,000. “In the June quarter we saw vendors with houses…
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INDUSTRY NEWS
Adelaide takes investor attention off Melbourne and Sydney
Anna Porter, a property market author, commentator and former valuer who works with first time and experienced investors on building high-performance portfolios, says she is directing clients towards the forgotten state of South Australia. “For the past three years all eyes have been on Sydney and Melbourne as the markets that have been outperforming the national averages. Many suburbs across…
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Real Estate News
Preliminary auction clearance rate remains below 70 while activity holds firm
National auction clearance results for the week ending 22/10/2017 courtesy of CoreLogic The trend towards softer auction market conditions has been led by the Sydney market where the final auction clearance rate has remained below 65% since the first week of October. Auction volumes were similar week-on-week, with 2,471 properties taken to auction, compared to 2,525 last week. This time last year,…
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Real Estate News
Higher interest rates for investors eases housing affordability for owner-occupiers: HIA
“The HIA Housing Affordability index for Australia improved by 0.5 per cent in the September 2017 quarter but still remains 4.4 per cent below the level recorded a year ago,” said Tim Reardon, HIA’s Principal Economist. “Housing Affordability has been deteriorating in Australia for decades, particularly in capital cities, as demand for new housing greatly exceeded the supply. “Recent interventions…
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FEATURE INTERVIEWS
Mark Earle, Principal of Buxton Real Estate Sandringham, talks Leadership
Mark started his real estate career in 1995 in property management never intended to go into sales. Funnily enough, Mark became the top salesperson within a few years in the inner western suburbs of Melbourne and made key mentor relationships along the way. Mark is no stranger to hard work and earning his way into the “upper echelons” of Melbourne…
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Real Estate News
Preliminary auction clearance rate above 70 percent on higher volumes
National auction clearance results for the week ending 15/10/2017 courtesy of CoreLogic There were 2,497 auctions held across the combined capital cities this week, up from 2,318 last week. So far, 2,007 results have been reported to CoreLogic, returning a preliminary clearance rate of 70.6 percent, increasing from last week when the final clearance rate slipped to 64.4 percent, the lowest clearance…
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CASE STUDIES
Eddy Piddington joins Stone Real Estate Manly
So what is it that drives Eddy, and his boundless energy? Growing up in Leura, Eddy’s interest in property was piqued by his mother Robyn’s involvement in Blue Mountains’ tourist accommodation and property restoration. He credits this early involvement in real estate for his continued passion. “Since I was young, Mum and I renovated properties. I liked dealing with agents…
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National
REAPIT looking to global expansion following US lead acquisition
The investment partnership combines the deep domain experience and strong track record of Reapit’s existing management team with Accel-KKR’s strategic expertise working with high-growth technology companies. The supplied press release indicated the partnership will enable Reapit to accelerate its growth and innovation, enhance products and services, and expand its technology offering. The Reapit senior management team will continue to be…
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Real Estate News
Ray White opening in Forest Hill, Melbourne
He believes the timing is right to open in Forest Hill which is undergoing strong renewal. “Forest Hill is undergoing a renewal so the timing is right to open. The market has had a strong run for the last couple of years and Forest Hill is 71 per cent owner occupiers, with many older families looking to downsize,” Mr Francis…
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Real Estate News
Domain launches new online series, The Circle
Created by Felix Williamson, co-director, screenplay author and star of Domain’s INMA-award winning video series Avalon Now, and brought to life by producer, Hamish Roxburgh, The Circle follows two couples who decide to leave their poky apartments in Sydney and Melbourne for a new, more affordable life in Queensland’s beautiful, sub-tropical Sunshine Coast. One character from Bondi decides to become…
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Real Estate News
Auction volumes return to normal after long weekend
National auction clearance results for the week ending 08/10/2017 courtesy of CoreLogic Auction activity across the combined capital cities increased this week after last week’s grand final and public holiday slowdown. 2,286 homes were taken to auction, returning a preliminary auction clearance rate of 68.1 percent. The preliminary clearance was up from the 66.3 percent last week when volumes dipped significantly across…
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INDUSTRY NEWS
Core Logic Property Pulse: household debt and asset wealth growing at the same time
Household debt and asset wealth is growing at the same time, according to RBA data analysed by CoreLogic. Household finance data released by the Reserve Bank (RBA) each quarter looks at the ratios of household debts and assets to disposable income. The latest RBA update shows that while households debt is growing, asset wealth is simultaneously increasing. According to the…
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Elite Agent
Future Tech Horizons – Challenge or Opportunity?
First a prediction: New technologies will add another dimension to property transactions, but the central role of the agent won’t be replaced, says venture capitalist Peter Esho of what he thinks the next decade of real estate will bring. Mr Esho is CEO of Sydney-based private investment firm Esho Ventures, which invests into businesses that may be the next generation…
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SUPPLIER NEWS
Rentvestment hotspots in Australia for under $600,000
Rentvesting now accounts for one third of all Australian property investments, accounting for $202 billion on loan. With Australian property prices rising by 618% over the past 30 years and national incomes failing to keep up, the rentvestment trend is gaining traction according to Mozo property expert Steve Jovcevski. “The Australian housing market has undergone a period of dramatic change.…
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FRANCHISE NEWS
OBrien Real Estate opens two new offices and relocates corporate headquarters
OBrien Real Estate will open its 21st office next week at Tecoma to service the Dandenongs in the Yarra Ranges and Cardinia Shires. OBrien Real Estate Tecoma/Belgrave/Olinda will be under the leadership of Rebekah Whittaker. The group will open its 22nd office in Wantirna South on October 20. Under the leadership of Geraint Gardner, Nicole Gardner, Dean O’Brien and Neo…
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INDUSTRY NEWS
Core Logic Home Values September: Sydney capital gains lose steam, rental returns rise
The September results confirmed that dwelling values edged 0.2% higher across Australia over the month, led by a 0.3% rise in capital city values and a 0.1% gain across the combined regional markets. The latest figures take national dwelling values 0.5% higher over the September quarter, which is the slowest rate of quarter-on-quarter growth since June 2016, and national values…
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Real Estate News
Auction activity makes way for the footy and long weekend
National auction clearance results for the week ending 01/10/2017 courtesy of CoreLogic Despite lower auction volumes, clearance rates held firm, returning a preliminary result of 69.4 percent, rising from the 66.2 percent last week when final results saw volumes reach their highest level since May this year (2,782). Melbourne was the main driver of the strong clearance, with a preliminary result just…
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INDUSTRY NEWS
The wealth effect of housing: Core Logic Property Pulse
Mr Lawless said, “The strong capital gains evident across the Sydney and Melbourne housing markets have created a significant boost in wealth for home owners who were fortunate enough to own a property through the latest growth cycles. However, the rate of capital gain has been remarkably lower across other markets with home owners outside of Sydney and Melbourne now…
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FRANCHISE NEWS
Home loans more affordable than they were a year ago: PRDnationwide
New South Wales New South Wales’ home loan affordability has increased by 3.7% over the past 12 months, to 27.7 index points. Although still the lowest index reading compared to the rest of Australia, its affordability growth is on par with Queensland (3.6%). A key finding for New South Wales is in relation to potential future demand for residential real…
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INDUSTRY NEWS
Australian property investors remain confident about the benefits of residential real estate: PIPA survey
The national survey, which gathered insights from 742 property investors, shows that more than 70 per cent of respondents think now is a good time to invest in property, with 61 per cent looking to purchase a property in the next six to 12 months (up from 58 per cent last year). However, concerns over changes to investor lending policies…
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INDUSTRY NEWS
ABS reveals more people living in apartments than 25 years ago
The 2016 Census of Population and Housing found that 10 per cent of all people in Australia spent Census night in an apartment. There is now around one occupied apartment for every five occupied separate houses in Australia – compared with one to every seven, back in 1991. The growth in apartment living is primarily an urban phenomenon, concentrated within Australia’s…
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