National
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Century 21 kicks off 2018 with new website
Century 21 has launched a new Australasian website that was built to deliver the group heightened levels of online exposure. Charles Tarbey, Century 21 Chairman and Owner, said the sleek and contemporary website will provide a more streamlined and efficient experience for all users while having a strong focus on lead generation for agents. Individual office and agent landing pages…
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Ray White Agents Sharpen their Skills in Melbourne
It was standing room only when more than 550 Ray White sales agents from Victoria and Tasmania packed the Melbourne Convention Centre for Super Sales Day. The mega session – the single biggest gathering of Ray White agents in Melbourne outside of their annual awards – was the brainchild of Ray White Victoria and Tasmania CEO Domenic Belfiore who gave…
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Low inflation helps give home owners an interest rates reprieve: RateCity
Sluggish inflation figures mean the RBA will almost certainly leave interest rates on hold when they meet for the first time this year on Tuesday. RateCity’s RateForecaster shows 22 of the 23 economic indicators studied point to the RBA leaving interest rates at record lows. RateCity money editor Sally Tindall said we would need to see significant movement in inflation…
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CoreLogic January 2018 Home Value Index: values fall across six of Australia’s eight capital cities
CoreLogic released its January hedonic home value index results which, at a national level, revealed a fall of 0.3% for the month, led by a 0.9% fall in Sydney dwelling values. The national combined dwellings index posted a modest 0.3% fall in January, taking dwelling values 0.7% lower since their recent peak in September last year. Dwelling value falls were…
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Rental Inflation at 25-Year Low
“The pace of rental price growth dipped to just 0.6 per cent in 2017, the slowest pace of growth since 1993,” commented HIA Senior Economist Shane Garrett. These figures are contained in the ABS Consumer Price Index release for the December 2017 quarter published today. “For families reliant on the rental market, the deceleration in rents is welcome news. “The…
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Weakening investor activity impacts Sydney, but national median price in most captials: Domain
The median house price in most capital cities rose over the December quarter, although different cities continue to record varied rates of growth — according to the December Quarter Domain House Price Report. Weakening investor activity and tightened lending conditions continue to impact Sydney, and although it reported a slight increase over the December quarter, prices in the NSW capital…
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Now and Then: RE/MAX celebrates Founders Day
January 30, 2018 is Founders Day, the celebration of 45 years since RE/MAX began. What started as a dream and a plan on a pad of paper became a reality when the first office opened in Denver Colorado on January 30, 1973. American Dave Liniger had a controversial idea to build a real estate powerhouse where experienced, productive agents would…
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Nation building in the spotlight at national Property Council awards
From convention centres to master-planned communities, from heritage overhauls to new hospitals, the nation’s best buildings and brightest talent are once again in the spotlight. This year, 137 finalists in 20 categories have been named ahead of the 2018 Property Council of Australia / Rider Levett Bucknall Innovation and Excellence Awards in May. The awards program, now in its 36th…
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R&W donations to Starlight Foundation hit $500,000 milestone
Richardson & Wrench begins the new year with 500,326 reasons to celebrate. That’s the grand total that the network has raised for the Starlight Children’s Foundation to further its work helping to brighten the lives of seriously ill children in hospitals right around Australia. The milestone was reached at the close of 2017 with offices and agents across the group…
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New Australian Housing and Urban Research Institute report dispels negative gearing myth
A report released last week by the Australian Housing and Urban Research Institute (AHURI) joins others in confirming that negative gearing is not responsible for high home prices. The report undertakes an in-depth review of the private rental market in Australia and nine other comparable countries, considering tax and finance settings, demand and supply and regulation of landlords and tenants. Property Council Chief…
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National rents on the rise: CoreLogic Rent Review December quarter
Property investors will welcome news from CoreLogic that although rental yields are flat, rental rates are on the rise. According to the latest CoreLogic Rental Report over the December quarter, all capital cities, excluding Canberra, achieved a stronger annual change in rents over the past year compared to the same period in 2016. Simultaneously, regional markets also earned a rental increase.…
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Millennials to eclipse baby boomer real estate spending in next 5 years: First National Real Estate
Despite 74% of millennials requiring more help than usual in understanding the buying process, it is anticipated that the next five years will see millennials eclipse baby boomers’ real estate spending power with 66.1% of those born between 1982 – 2002 choosing property over lifestyle. With millennials earning more money than earlier generations, their buying budgets are anticipated to be…
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Ray White Joint Chairman pays tribute to Australian Auctioneering Legend
Tony Fountain – one of the key establishment figures for the Ray White Group in its Australian expansion – passed away yesterday at the age of 72. In a statement to the Ray White group yesterday, Joint Chairman Brian White paid tribute to Fountain noting his key role in establishing ‘an auction culture’ in the group back in 1988. “He…
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McGrath takes back the reins
Major change is occuring at McGrath Estate Agents with its chief executive officer Cameron Judson and almost its entire board resigning after another profit warning, with founder John McGrath to take back the reins of the company as interim executive chair when the company’s interim results are released next month. In an ASX announcement today McGrath Limited said the “half…
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Domain CEO Antony Catalano Resigns
Domain chief executive officer Antony Catalano has announced his resignation not three months after the company listed on the share market. Mr Catalano cited family reasons as being behind the departure. “When I re-joined Fairfax in November 2013, I made a commitment to my young family that I could be there for them and do the job,” he said in…
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Century 21 shares its 3 top tips for success in 2018
In light of softening conditions in many property markets, the Chairman and Owner of Century 21 Australasia has provided his three top tips to help agents succeed in 2018. Charles Tarbey’s first tip surrounds the growing use of broadcasts and electronic mail by agents: “While it’s great to see agents adopt new technologies, too many agents seem content with simply…
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‘Granny Flats’ no longer just for Grannys, now available online
One Australian company says they are revolutionising the granny flat industry by offering their unique service online from the space of their office in Mudjimba, Queensland. Heather Field, co-founder of Classic Kit Homes, said granny flats are no longer just for granny. “Anyone with a bit of space in their back yard who wants to provide a home for an…
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Your say: Real Estate and Politics – Should they mix?
It was reported in the SMH last week that “real estate agents are pushing PM Malcolm Turnbull to introduce a new ‘property services minister’ to bring the nations multi-billion dollar housing and development industry closer to the heart of government.” The proposal was floated by the REIA, believe that there should be someone in the house of Reps or at…
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Nine in ten Australian properties are ‘flipped’ for a profit, says new CoreLogic report
Global data analytics provider CoreLogic has released its first Property Flipping Report, which provides a national analysis of properties that were ‘flipped’ (bought and re-sold within a short time frame with the purpose of making a profit) in 2017. The research measures flips within one year of purchase and within one to two years of purchase. It also tracks national…
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Off to a smart start: realestate.com.au announces artificial intelligence for Amazon Alexa
A decade ago we held the first touchscreen mobile phones tentatively in our hands and now artificial intelligence allows us to talk to computers and for them to answer us. REA Group has launched Australia’s first property news report for Amazon Alexa and Kylie Dulhunty spoke to chief inventor Nigel Dalton about just how AI can, and could, help real…
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First home buyers benefitting from stable market: REIA
Housing finance figures released by the Australian Bureau of Statistics (ABS) show that first home buyers continue to steadily increase their presence in the housing market, according to the Real Estate Institute of Australia (REIA). “The proportion of first home buyers, as part of the total owner-occupied housing finance commitments, increased to 18.0 per cent in November 2017, the highest…
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Mixed market conditions for tenants and investors for 2018: Domain rental report
Key data findings Sydney median unit rental prices drop from the price peak by $5, falling back below median house rental prices for the first time in six months House rental prices in Melbourne rise 1.2 per cent over the quarter, hitting a new high House rental prices remain steady over the quarter in Sydney, Brisbane and Perth Hobart has strongest annual growth in house rental prices on…
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Get ready. The employment landscape is about to change: Bryan Wilcox
After three long years of negotiations, submissions and representations, the Fair Work Commission is about to hand down its final decision following the review of the Real Estate Industry Award. The new Real Estate Industry Award will commence operation on 2 April 2018. With D Day fast approaching, every real estate employer needs to be aware of the changes and…
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Academic paper won’t help housing policy debate, says the Property Council
The Property Council of Australia says that an academic paper prepared by Melbourne University, as part of an RBA workshop reaches some bizarre and questionable conclusions on the potential impacts of removing negative gearing. Property Council of Australia Chief Executive Ken Morrison said any meaningful interrogation of the paper immediately raises serious questions as to the credibility of its findings, saying, “contributions to…
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Ray White Chairman weighs in on the negative gearing debate
Mr White’s comments come in the wake of recently released documents which contained Treasury advice to the government warning of a “softening” effect on property prices as the predicted impact of Labor’s restrictive changes to housing policy. At the time, the real estate industry rallied together, led by Brian White, to oppose any changes to negative gearing policy, a hot-button…
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More Aussies are prepared to give up dream locations in favour of affordable homes: State Custodians
New research from non-bank lender State Custodians Home Loans, finds more than half (54 per cent) of Australians who own or are buying their own home say they’re prepared to live in a more affordable or cheaper location, even one not on their wish list, to obtain the house they need or want. In contrast 26 per cent of Australians…
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New home approvals hit a 15 month high based on strong growth in Victoria
Today’s Australian Bureau of Statistics data shows the total value of Victorian building approvals increased by 28.5 per cent to $4.6 billion in November 2017, and is up 67.2 per cent over the year, the highest level since August 2016. Victoria, Tasmania and WA are the three states showing the largest increases, with Victoria by far showing the strongest growth…
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Ray White’s year of record network growth
The Ray White Group swelled by a record number of new offices in 2017 after a stellar year attracting some key businesses to its growing stable of more than 1000 offices this year. Ray White Network Development CEO Andrew McCulloch confirmed 2017 was a record year of growth with more than 106 new business owners in Australia calling Ray White…
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Century21 welcomes four new offices to its network
Century 21 has celebrated the opening of four new office locations in recent months, boosting the network’s presence across Australasia. In New South Wales, Century 21 has welcomed C21 Tao Real Estate in West Ryde, C21 Masterpiece in Lane Cove, C21 Property Care in Glenfield, and C21 Centennial in Kensington. These offices complement many new office openings in Queensland that…
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New Home Sales Cooled in 2017: HIA
“The consistent feature of new home sales in 2017 is that the market is cooling,” stated HIA’s Principal Economist, Tim Reardon. “The HIA New Homes Sales Report – a survey of Australia’s largest home builders – highlights that there has been a fall in the number of new homes sold in 2017, but the industry remains at relatively healthy levels…
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Purple gain and pain – revenue up but losses double
Purplebricks Group plc (“Purplebricks”), have announced their Interim Results for the six months ended 31 October 2017, including the Australian and US divisions of the group. In Australia, revenue for the period was recorded at £6.8m, up from the corresponding period last year at £0.4m. Adjusted EBITDA shows a loss of £5.1m, twice that of the same period last year.…
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Agent Comparison Tool launches on realestate.com.au
Changes have also been made to the agent search experience, with people now able to search and find an agent directly from the main navigation on the realestate.com.au homepage. These changes will drive more people than ever to Agent Profiles and allow consumers to select and compare agents in their preferred suburb. The experience has been designed to empower…
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The Agency Group acquires Sell Lease Property, brands to run separately in the market
The Agency Group Australia Limited (formerly named Ausnet Financial Services Limited) (ASX: AU1) have expanded their national footprint with entry into an agreement to acquire three wholly-owned subsidiaries of ServTech Global Holdings Ltd (ASX: SVT). The Agency Group Australia Limited will pay up to $950,000 for the acquisition, subject to due diligence. Via a share sale agreement, the transaction includes…
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Auction volumes decrease across the combined capital cities returning a 64.2 percent preliminary clearance rate
National auction clearance results for the week ending 17/12/2017 courtesy of CoreLogic. The number of homes taken to auction fell this week, after the surge in activity recorded over the 4 weeks prior when volumes remained consistently above the 3,000 level. There were a total of 2,865 auctions held this week, down on last week when 3,371 auctions where held across the…
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The Power of Connection: Rik Rushton’s new book available for purchase
We might live in a world that is more connected, switched on, plugged in and constant than ever before, but how do you combat the fact many people are clocking in and checking out? This is the question posed and answered by renowned real estate and business advisor Rik Rushton in his latest book: The Power of Connection – How to…
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