National
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LocationScore names Australia’s top holiday investment locations
The new research scores each suburb monthly out of 100 using eight key indicators that measure the level of supply and demand as well as growth prospects. LocationScore co-founder and Research Director Jeremy Sheppard said the research showed that the long-held mantra that holiday homes were a bad property investment was not always true. “Ordinarily I’d advise investors to buy…
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Housing loan affordability improves, first homebuyers flood market: REIA
The September quarter edition of the Adelaide Bank/REIA Housing Affordability Report shows that the proportion of median family income required to meet average loan repayments decreased by 1.2 percentage points to 30.3 per cent. REIA President Malcolm Gunning said first home buyers now make up 24.5 per cent of the total owner-occupied housing market (excluding refinancing). “This is the highest…
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Auction volumes continue to rise with Melbourne having the second busiest week this year
National auction clearance results for the week ending 10/12/2017 courtesy of CoreLogic. The lower weighted clearance rates of late can be attributed to the continual softening conditions across the two largest markets of Melbourne and Sydney, with clearance rates tracking below 70 percent across Melbourne for 5 consecutive week’s now (67.4 percent), however volumes across the city have been consistently higher; with…
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First time buyers entering the market but face long battle to save deposit
These are the findings of a national report released today by Bankwest, who note 94,135 properties were bought by first home buyers in the year to August 2017. The figure reflects an increase of 5.6% year-on-year since 2015, and accounts for 14.3% of all purchases recorded from January to August. Noting these were encouraging signs in an otherwise cooling market,…
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RE/MAX Australia’s lads feel the pain for Make-A-Wish
Last Friday, Joel Davoren, RE/MAX Australia Franchise Director, and Matthew Andrews, CEO of Pivotal Financial, the real estate network’s finance arm, grit their teeth, bared parts of their body and were waxed for a good cause, RE/MAX Australia’s chosen charity, Make-A-Wish® Australia, the organisation helping grant the wishes of children and teenagers battling life-threatening medical conditions. Mr Davoren is no…
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CoreLogic November Home Value Index: Values holding steady with Sydney trending lower and Perth bottoms out.
According to CoreLogic head of research Tim Lawless, a significant contributor to the downwards movement over the month came from the Sydney housing market, which recorded a 0.7% fall in dwelling values, while a fall in values was also recorded across Darwin and regional Northern Territory which were both down 0.4% over the month. For the remaining broad regions of…
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Auction Volumes and Clearance rates steady in the first weekend of Summer with Canberra the standout performer
National auction clearance results for the week ending 03/12/2017 courtesy of CoreLogic. Over the same week last year, auction volumes were similar to this week (3,207), although the clearance rate was considerably higher at 72.3 percent. Across the two largest auction markets, Melbourne and Sydney, both cities saw an increase in the rate of clearance over the week, however the 66.0 percent…
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RateCity: Rates set to remain unchanged; but will we see a hike in 2018?
Christmas is not likely to bolster the Reserve Bank this month with interest rates set to remain unchanged on Tuesday. Comparison website RateCity’s analysis of 24 economic indicators has revealed a still-sluggish economy with no imminent signs of improvement. If there was any doubt, the usually reserved RBA governor Philip Lowe spelt it out in a recent speech saying, “there…
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Banking royal commission should focus on an honest and fair financial system
Comparison website RateCity has welcomed the federal government’s decision to hold a Royal Commission into Australia’s financial sector. RateCity CEO Paul Marshall said the only way to restore public trust in our financial sector was through a Royal Commission. “Australians rely on financial products every single day. They hold the keys to our homes. They are the keepers of our…
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Coronis sets sights on bitcoin transactions
It’s marketed as a rare opportunity to purchase one of Australia’s first properties in bitcoin but can you really use the crypto-currency to buy Lot 44 Connors Rd, Helidon? Theoretically you could. All $118,000 of it. At the time of writing that equates to 8.5 bitcoin. But don’t start altering your ad copy on your listings just yet, purchasing Australian…
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The number of properties taken to auction continues to rise in the last weekend of spring
National auction clearance results for the week ending 26/11/2017 courtesy of CoreLogic Last week, based on final results, 60.9 percent of the 3,390 auctions held recorded a successful result, the lowest clearance rate since late 2015/early 2016. Once final results are collected, the combined capital city clearance rate tends to revise down so at this stage it’s looking like the final clearance…
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November additions complete LJ Hooker’s spring dozen
LJ Hooker will welcome four new agencies to its network over November, taking its overall spring intake to 12 new operations across Australia. Queensland accounts for half of the new additions in November. Catering to the inner-city regeneration of Queensland’s capital, LJ Hooker Brisbane City Residential will begin trading this month, led by long-term brand leader and commercial property expert,…
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Is the renovation boom over? Data shows demand for tradies softening
Building approval data provided by the Australian Bureau of Statistics reveals a mixed bag for tradies. Year on year, private sector house approvals are up 4.4 per cent, whereas private sector dwellings excluding houses (for example apartments) are down 5.1 per cent year on year. Some up, some down – so what does this mean? Of concern for tradies is…
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Third busiest auction week this year with combined preliminary clearance rate in the mid 60’s
National auction clearance results for the week ending 19/11/2017 courtesy of CoreLogic This time last year, 2,987 homes were taken to auction and a clearance rate of 74.4 percent was recorded. The final clearance rate has remained below 65 percent for the last 4 weeks and it’s likely that this will be the case again on Thursday when the final results are…
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CoreLogic Property Pulse: Are investors driving the current market slowdown?
He asks the question, “Is this occurrence a coincidence, or does this simply highlight just how reliant the housing market has become on demand from the investor segment?” The research results show that over the past five years dwelling values nationally have increased by 39.3 per cent, largely driven by Sydney and Melbourne where values have increased by a much…
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Westpac backs BRICKX
The Fintech company provides access to residential property by enabling Australians to buy “Bricks” in individual property trusts. The investment is a sign that banks are heading into a territory they have been wary of in the past. “The reason we are seeing the rapid rise of Fintech businesses is because they are creating products that are customer-centric and solving…
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REA Group names best in the industry at 2nd Annual REA Excellence Awards
Twenty-two winners from across the country were honoured at the second Annual REA Excellence Awards (AREAs) in Melbourne last night, recognising the property and media industry’s best innovators, marketers and community champions. The awards were presented across the categories of Innovation, Service & Marketing Excellence, and Community. This year saw the introduction of the Gold AREA Agency of the Year award…
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Rent.com.au solves the cats versus dogs debate
New data from Rent.com.au has solved the age-old dog versus cat debate and it’s no surprise that man’s best friend is Australia’s most loved household pet. Rent.com.au’s Pet Resume feature has now exceeded 50,000 resumes, with around one-third of renters choosing to attach a profile for their furry friend to their Renter Resume. “The ability to move into a rental…
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Parliament passes new legislation on depreciation; could cause loss in investor deductions
Changes to depreciation legislation announced in the May 2017 Federal Budget and detailed in Treasury Laws Amendment (Housing Tax Integrity) Bill 2017, have been passed by the Parliament of Australia. The new legislation means owners of second-hand residential properties (where contracts are exchanged after 7:30pm on the 9th of May 2017) will be ineligible to claim depreciation on certain assets. BMT…
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50 most influential financial advisers in Australia named
“At a time when the digitisation of financial advice has reached its tipping point, both new and experienced financial advisers must be ready to lead the industry forward with ideas and innovation. Industry influencers will be instrumental in this exciting growth period,” said Darren Snyder, editor at Financial Standard. The list of individuals was determined through an industry-wide nominations phase…
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PRDnationwide expands with the addition of six new offices in the past five months
PRDnationwide has been expanding with the addition of six new offices in the past five months. PRDnationwide, which is the wholly-owned residential brand of Colliers International, has seen an increased level of inquiries from potential new franchisees which has resulted in new offices coming on board, says managing director Tony Brasier. “The success of some of our current offices have…
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Sarah Dawson joins Real+ as Head of Growth
Sarah Dawson has joined Real+ as Head of Growth bringing with her a wealth of knowledge and experience from her 20 years in the real estate industry. Sarah will be working in a senior capacity alongside Real+ CEO Fiona Blayney and General Manager Lauren Kirk and is responsible for the recruitment and outsourcing team and growing the business across the…
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Ray White Projects announces key appointments
Ray White Projects Managing Director & Partner Eddie Mansour says former McGrath associate directors Paul Tutt and Craig Moore will bring decades of experience to the team of residential sales and marketing specialists. Mr Mansour says the new appointments align with Ray White Projects’ vision for long-term growth, with the business expected to announce several new residential projects in the…
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Clearance rates remain below 70% for 5th consecutive month with volumes on par to last year
National auction clearance results for the week ending 12/11/2017 courtesy of CoreLogic Clearance rates have continued to track below 70 percent since June the year; this is a considerably softer trend than what was seen over the same period last year when clearance rates were tracking around the mid 70 percent range for most of the second half 2016.Results across each of…
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Ray White Group completes major “mobile first” upgrade to One System network
Ray White chief technology officer Matt Gay said the new platform, developed in-house by a dedicated team, was rolled out gradually as the design was tested and refined in direct partnership with leading franchisees. “This is the kind of project that can only be successfully executed by an internal team, where we can take the time required to experiment and…
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VitrineMedia LED screens transform business of inaugural ‘Pimp my Shopfront’ winner
He’s referring, of course, to the VitrineMedia Backlit LED screens that have given the shopfront of his once dour premises on the town’s main street a vibrant facelift, increased traffic to the windows and contributed to a noticeable rise in sales since First National Gerringong won the inaugural ‘Pimp my Shopfront’ competition in late 2016 and as its prize, received…
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CoreLogic Property Pulse: Non-capital city housing markers a real mixed bag
Prepared by CoreLogic research analyst Cameron Kusher, while the research showed that dwelling values were flat in October, they fell by -0.1% over the quarter and were 4.9% higher over the past 12 months. The quarterly decline in values was the largest fall since the three months to October 2014 while the 4.9% annual change was the lowest annual change…
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Lisa Herbertson promoted to National Real Estate Digital Editor at News Corp
Lisa Herbertson has been promoted to National Real Estate Digital Editor at News Corp and now oversees digital real estate content across News’ metropolitan mastheads. Lisa had been the NSW Real Estate Digital Producer since February this year, and was a Digital Producer at The Daily Telegraph before that. She tells EA about her experience playing professional hockey and what she…
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Online portal Invex connecting developers to agents
Invex founder Neil Smoli headed up the Aviate Group which he founded in 2001 and in his role saw there was a disconnection between developers and agents. “Investment is a double sided marketplace. One side is developers, of which there are 14,000 developers in the residential space. It’s a very large and fragmented market. In that you have smaller developers…
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RBA leaves rates on hold in November meeting plus wrap up of industry commentary
Despite low inflation and weak wage growth, the decision comes as no surprise with some industry experts welcoming the decision. The RBA last changed its monetary policy settings in August 2016 when rates were edged down 0.25 percentage points to the current low of 1.5 per cent. “The Bank’s forecasts for growth in the Australian economy are largely unchanged,” RBA…
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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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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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Dwelling approvals rise by 1.8 per cent in September
Shane Garrett, HIA Senior Economist, said the figures are a positive indication, especially when considered in context of the whole quarter. “During the September 2017 quarter overall, total approvals for new dwellings were up by 5.1 per cent. This was driven by an expansion of 7.6 per cent in multi-unit projects,” Mr Garrett said. “Activity on the apartment side of…
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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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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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