Search Results for: melbourne
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Real Estate News
Auction volumes continue to strengthen and combined national preliminary clearance rate at 78 percent
Preliminary figures show a combined national clearance rate of 77.9 percent of auctions were successful across the combined capital cities, while auction activity rises week-on-week National auction clearance results for the week ending 21/05/2017 courtesy of CoreLogic Auction activity across the combined capital cities increased this week, up from 2,409 auctions last week, to 2,794 this week, making it the sixth busiest week…
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INDUSTRY NEWS
Tentative Signs of Pickup in Mining Regions
There haven’t been many glimmers of hope for property owners in once-booming mining towns lately but an analysis released by CoreLogic yesterday may contain the first hints of an improvement since the end of the commodity boom. In its latest Property Pulse report CoreLogic found evidence of an uptick in sales volumes across a number of hard-hit mining areas…
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Elite Agent
Don’t push first homebuyers to the wrong places: Haesley Cush
With the Federal Budget handed down last week, Brisbane Agent and Auctioneer Haesley Cush reflects on the state of the market for first home-buyers I had dinner with an agent this week. She is a young lady in her 20s and she is selling units in the Eastern Suburbs of Sydney. We were discussing the cost of 1 bedrooms apartments…
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INDUSTRY NEWS
New App Removes Price Barrier to Augmented Reality
The case for using augmented reality (AR) technology in the real estate industry has always been compelling but for many, implementation costs have put it way out of reach – until now. Imagine consumers being able to use Augmented Reality to see how their furniture might look in a new property at the touch of a button on their mobile devices;…
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Real Estate News
Investor housing finance moderating
The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) confirm that finance approvals for investor housing is moderating, according to the Real Estate Institute of Australia (REIA). “The value of investment housing commitments decreased by 0.3 per cent in March 2017 in trend terms. This is down from its 2015 peak,” Malcolm Gunning, REIA President…
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Real Estate News
Chinese Buyers Still Dominate But Buying Fever Has Eased
The head of the world’s leading Chinese website for international real estate has praised the latest Foreign Investment Review Board annual report as proof the current system is working well. Juwai CEO Charles Pittar said it showed foreign investment was going right where Australia wanted it and was one of the few bright spots in the economy. FIRB chairman Brian…
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Real Estate News
Auction volumes increasing with the combined preliminary clearance rate holding in the mid 70’s
Auction conditions remain strong with a rebound in auction volumes and higher preliminary clearance rate over the second week of May with 2,376 auctions nationally and a combined national auction clearance rate of 76.6 percent (76.2 percent weighted average) National auction clearance results for the week ending 14/05/2017 courtesy of CoreLogic Auction markets have remained resilient, with both volumes and the preliminary…
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INDUSTRY NEWS
Stock Levels Rise as Demand Slows
Following years of frenetic activity in Australia’s hottest real estate markets, more signs are emerging that buyers might be ready to take a breather after CoreLogic reported stock levels are now outstripping demand in some cities. Months of Supply figures are used to predict how long it should take to clear volumes of stock currently on the market and found…
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Real Estate News
Overview of budget implications for housing and housing affordability: Tim Lawless
With so much debate about housing affordability it was always going to be the case that the 2017 budget included key policies aimed at improving the affordability of housing and addressing some of the systemic issues that have pushed housing prices out of reach for many Australians. At face value, the budget measures present a good attempt at improving housing…
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Elite Agent
The Eight Best Budget Moments from #Budget17: Sarah Bell
The 2017 Federal budget has been mostly received well judging from commentary by property pundits so far. A goldilocks attempt to temper the forces of supply and demand; of foreign investment and affordable housing without causing economic shockwaves. But, Federal Treasurer Scott Morrison or #ScoMo as he is trending was going to have a difficult time pleasing everyone. “The government is…
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Elite Agent
Budget housing measures fair and responsible with some welcome innovation says R&W chief
Scott Morrison’s 2017/18 Budget passes the test for fairness and responsibility whilst offering some innovative opportunities that will support and encourage affordable housing for those most in need, according to Andrew Cocks, Managing Director of Richardson & Wrench, Australia’s oldest real estate group. Mr Cocks said the Treasurer had outlined a number of measures that would directly assist first home…
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Elite Agent
Stamp duty is stopping Australian’s from selling: LJ Hooker
A survey by LJ Hooker has shown that Government charges are dissuading property owners from selling their homes, driving up demand and impacting affordability. The survey of 2,700 homeowners showed 44 per cent of respondents who wanted to sell in 2016 but decided against it, cited transactional imposts such as the stamp duty they would pay on their next property…
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Real Estate News
Affordability Crisis Could Lead to the First ‘Cubby House’ Generation: CoreLogic
The Federal Government has a big task ahead as it prepares to release its housing affordability strategy in today’s Budget after new research by CoreLogic has revealed the affordability crisis has created an entrenched pessimism about high prices and the prospects of future home ownership. The latest CoreLogic Perceptions of Housing Affordability survey showed nearly 90 per cent of non-home…
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Elite Agent
2017 Budget preview – What’s in it for housing: Andrew Cocks
Scott Morrison’s 2017-18 Federal Budget would have to be one of the most anticipated in recent memory. Speculation about its content has generated enormous media coverage, as well as a lot of angst in response to the leaks and red herrings on the subject of housing affordability. It’s all the more remarkable given that the Commonwealth Government has limited means…
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Elite Agent
What to expect from the 2017 Federal Budget (for property people): Sarah Bell
Just like The State of Origin night, Budget night draws a crowd of millions as the nation waits in anticipation to see what plays will be made by the rainmakers in their pin-striped suits….OK, that last bit is a stretch (*total lie)…but this is the hottest budget we have seen for a long time – and mostly because of the…
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Real Estate News
Preliminary clearance rate holds firm around 74 percent on lower auction activity in the first week of May
This week, 1,662 capital city auctions were held and preliminary results show that 1,365 auctions have been reported so far, with a preliminary clearance rate of 74.6 percent, rising from a final clearance rate of 74.0 percent last week across 2,350 auctions. National auction clearance results for the week ending 07/05/2017 courtesy of CoreLogic While clearance rates remain above the long-term average…
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Elite Agent
Are Governments becoming too reliant on property tax revenue?
The growing reliance of state and local governments on fat property tax revenues generated by the eastern states’ property boom has prompted analysts at CoreLogic to issue a warning – it may be time to consider a more sustainable model. Research analyst Cameron Kusher said the latest ABS data showed property taxes now accounted for a record 52% of the total…
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Real Estate News
RBA leaves cash rate unchanged at 1.5 percent
The Reserve Bank of Australia (RBA) has announced they will leave the cash rate on hold at 1.5 percent after its monthly meeting yesterday. RBA Governor Philip Lowe said that there has been a broad-based pick up in the global economy since last year. “The Bank’s forecasts for the Australian economy are little changed. Growth is expected to increase gradually…
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Real Estate News
Capital gains ease and month-on-month growth conditions slow: CoreLogic
Highlights over the three months to April 2017 Best performing capital city: Hobart +5.1 per cent Weakest performing capital city: Perth -2.4 per cent Highest rental yields: Hobart and Darwin houses with gross rental yield of 4.9 per cent and Hobart units at 5.4 per cent Lowest rental yields: Sydney and Melbourne houses with gross rental yield of 2.7 per…
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Real Estate News
REA and Launch Housing partner to help women in need
REA and Launch Housing formed a partnership three years ago to help women and children in need to secure accommodation. Together they have raised a total of $600,000 in cash and helped more than 1,367 women and children to sleep more comfortably. The partnership was born out of a company vision at REA to empower people to make property stress…
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Real Estate News
Peter Kakos to lead The Agency’s move into Victoria
Former Marshall White director and McGrath sales director, Peter Kakos will join The Agency as General Manager Victoria to champion the company’s growth into Victoria. He joins the company with high recommendations in the industry, having made a significant impact as a coach, mentor and business development over the course of his career. Matt Lahood, CEO, The Agency said of…
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Real Estate News
Preliminary auction clearance rate and volumes strengthen from sub 70 percent final result last week
Preliminary clearance rate strengthens after last week saw the final clearance rate fall below 70 percent National auction clearance results for the week ending 30/04/2017 courtesy of CoreLogic The combined capital city preliminary clearance rate rose to 76.9 percent this week, increasing from last week when final results saw the clearance rate fell to 69.8 percent after 10 consecutive weeks remaining in…
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INDUSTRY NEWS
The Answer Housing Affordability Challenge Is To Increase Housing Supply:HIA
Australia needs supply not demand focused solutions to address our national affordability challenges, the Housing Industry Association said. HIA’s Deputy Managing Director, Graham Wolfe in a statement said any attempts to remove the demand for new housing would reduce supply, affordability and jobs. “While several measures announced today by Labor to address Australia’s housing affordability challenges provide a sensible approach…
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Real Estate News
Australia’s fastest selling suburbs: CoreLogic
Low interest rates coupled with higher levels of demand for housing has seen property sales in some areas take off faster than in others. Today in the CoreLogic Property Pulse, we take a look at the 10 suburbs in each state with the shortest median selling time for houses and units over the 12 months to January 2017. CoreLogic research…
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INDUSTRY NEWS
Superannuation won’t help first time buyers get into the Sydney & Melbourne: CoreLogic
First-time home buyers expecting to use superannuation savings as a deposit for a property in either Sydney or Melbourne may find both cities way too pricey and would be still locked out from the housing market, CoreLogic research analyst Cameron Kusher has said. Broadcaster ABC recently crunched the numbers and showed that based on the average earnings for a 25…
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Real Estate News
A rise in the combined capital city auction volumes post Easter delivering softer clearance rates
Volumes rise across the combined capital cities and return a clearance rate of 72.1 percent National auction clearance results for the week ending 23/04/2017 courtesy of CoreLogic Auction activity increased significantly across the combined capital cities this week after last week’s Easter period slowdown, with 1,732 homes taken to market and a preliminary clearance rate of 72.1 percent, down from 73.9 percent…
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INDUSTRY NEWS
Melbourne’s median house price hits $800,000
Melbourne’s median house price has recorded its strongest quarterly price growth since 2013 to smash the $800,000 barrier for the first time, new data from the Real Estate Institute of Victoria (REIV) shows. The citywide median increased 7.6 percent in the first three months of 2017 to a record high $826,000 – up more than $55,000 on December figures. REIV…
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INDUSTRY NEWS
Housing Affordability Records Improvement: HIA
The latest Housing Industry Association (HIA) report indicates that there has been a steady improvement in housing affordability during the opening months of 2017. HIA senior economist, Shane Garrett in a statement said that during the March 2017 quarter, the HIA Affordability index improved by 1.9 percent – and is 1.2 percent better than this time last year. “The improvement…
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Elite Agent
Time, Trust and Transparency
NIGEL DALTON IS PART thought leader, historian, geek, and agile promoter. Heading up the REA Labs in his new role as Chief Inventor he is at the forefront of technological change in the real estate industry. Samantha McLean sat down with Nigel to talk about the chemicals that bubble away in the lab and how they may be indicators of…
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Real Estate News
Easter long weekend returns a rise in capital city auction clearance rate on subdued volumes
Across the combined capital cities, the auction clearance rate rose to 78.8 percent last week, from 74.8 percent the previous week. National auction clearance results for the week ending 16/04/2017 courtesy of CoreLogic The number of homes taken to auction, however, fell to just 487 across the capital city markets, with Sydney host to the majority of auctions last week (275). Preliminary…
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INDUSTRY NEWS
New rules for underquoting in Vic come into effect May 1
“Quote ’em low, watch ’em go; quote ’em high, watch ’em die” – an old phrase around the game of selling, and one that many property buyers or sellers may have experienced. But that is all about to change with the new underquoting legislation that comes into effect in Victoria on May 1. Underquoting is a misleading practice that has…
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Real Estate News
A New Home for PEXA by Futurespace
PEXA, the company that provides the future of real estate transactions is moving it’s 200 staff to a futuristic new office in Collins Square, Melbourne CBD. The new office has been designed by leading workspace design firm, Futurespace incorporating the futuristic focus that saw PEXA rank as the fifth fastest growing tech startup in the Deloitte 2016 Technology Fast 500.…
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Real Estate News
Permit Ready Rebrands To Development Ready In Time For Expansion
Two years after its launch, Permit Ready has announced the renaming and rebranding of its platform to Development Ready, to coincide with an expanded service offering across Australia’s east coast. Development Ready is a buying and selling hub exclusively for development sites, instantly connecting real estate agents with qualified buyers sourced from developers and investors nationwide. They say the site…
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Real Estate News
ABS data highlights moderating investor housing finance:REIA
The latest housing finance figures released by the Australian Bureau of Statistics (ABS) on Monday confirmed that funding approvals for investor housing are moderating, the Real Estate Institute of Australia (REIA) said. The value of investment housing commitments increased by a modest 0.7 percent in February in trend terms and decreased by 5.9 percent in seasonally adjusted terms which are…
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INDUSTRY NEWS
The busiest week for auctions so far this year returns a preliminary clearance rate of 77.6 percent
The busiest week for auctions so far this year returns a preliminary clearance rate of 77.6 percent National auction clearance results for the week ending 09/04/2017 courtesy of CoreLogic Auction activity ramped up across the combined capital cities this week in the lead up to Easter, with 3,424 homes taken to auction this week, recording the highest volume of auctions year-to-date. The…
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