National
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RBA’s seven-year itch: the growing number of borrowers who’ve never experienced a rate hike
Comparison website RateCity.com.au’s ‘Rate Forecaster’ found that 21 of the 23 indicators suggested the RBA would leave the official cash rate at a record-low 1.50 per cent, where it has been since August 2016. It’s now been seven years since the Reserve Bank lifted the official cash rate. RateCity money editor Sally Tindall said it is unlikely the RBA will…
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Fairfax Media shareholders give green light for Domain to be spun-off
“Under the Separation, Eligible Shareholders will receive one Domain Share for every 10 Fairfax Shares held, allowing Fairfax shareholders to own a direct interest in one of Australia’s leading real estate media and technology services businesses,” Falloon stated. “Fairfax will retain a 60 percent interest in Domain immediately post Separation. Fairfax shareholders will hold the remaining 40 percent of Domain…
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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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New home sales decline further from peak: HIA
New home sales declined 6.1 per cent during September 2017, following a decline that started in 2015, according to the HIA. The results are according to the latest edition of the HIA New Home Sales Report which gauges sales activity in residential building across the five largest states. During September 2017, new detached house sales fell by 4.5 with a…
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Titlexchange partners with Assembly Payments to improve cash flow for conveyancers
Gerard Healy, managing director of Titlexchange, says conveyancers often wait up to 90 days to get paid but Titlexchange’s service significantly reduces the payment tail and improves the business’ cashflow. The company create a bespoke solution with payments solutions provider Assembly Payments, which also powers Airtasker, hipages and Carsales. The feature is the latest addition to Titlexchange’s platform, which matches…
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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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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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Trades demand stabilises: HIA
“During the September 2017 quarter, the HIA Trades Availability Index indicated that there is a sufficient supply of skilled trades available to the housing industry,” said HIA’s Senior Economist, Shane Garrett. According to the HIA, in most situations, the trades required are readily available on the market. The HIA Trades Report provides a quarterly review of the availability of skilled…
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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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REA Group re-launches Advantage Program
Andrew Rechtman, Executive General Manager of REA Group, says the philosophy behind the program is to invest in customers and helping to strengthen the real estate industry for the future. “The philosophy behind the program is to assist agents to keep growing and for us to give back to the industry that does so much for us. “The core principle…
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Harcourts Builds member App Store
Built with Apple’s iOS, the store is an enterprise application through which Harcourts team members can access, download, update and install its proprietary mobile applications eOne, eOpen and eCampaign. “We are one of the first real estate companies, globally, to take advantage of and build our own member-facing app store on Apple’s Developer Enterprise Program,” said Gregg Toyama, Harcourts Head…
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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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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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Downsizing.com.au reaches 100,000 website visits per month
NSW’s Central Coast, Nelson Bay, Port Macquarie and Coffs Harbour, the Gold Coast and Sunshine Coast in Queensland and Hobart in Tasmania are among the website’s most popular retirement destinations. Greg Oddy, of Downsizing.com.au, said overall web traffic is up more than 40 per cent compared to last year and have around 1,500 new email subscribers joining their database each…
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House building boom in 1980’s set to bolster opportunities for reno market in next decade: HIA
HIA released its latest edition of the HIA Renovations Roundup Report yesterday. The Report is a review of Australia’s $32 billion home renovations market. The publication analyses latest developments in home renovations activity and reveals the results of the exclusive renovations market survey. The Report also provides state-by-state forecasts of future renovations activity. “Our analysis shows a strong correlation between…
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Century 21 partners with Facebook
Workplace is a version of Facebook adapted to connect companies, functioning in the same way as the world’s most used social networking platform and designed to enhance business communication and operations. The gradual rollout of Workplace will see all Century 21 offices and agents across Australia and New Zealand connected on the platform in the near future. The group has…
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Sherrie Storor launches national coaching business
One of Queensland’s most prominent real estate agents has officially launched her national coaching business. As an astute and highly regarded industry identity, Sherrie Storor is constantly in demand to mentor agents on how to succeed without sacrifice. The former McGrath New Farm high-flyer has decided now is the right stage in her life to dedicate her full attention toward…
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Realestate.com.au top brand improver among Australian millennials
The Index looks at the top brands for word of mouth among Aussie millennials, with realestate.com.au’s experiences and video-led content across web and social resonating with the country’s largest and most technology savvy generation. From 2016 to 2017, realestate.com.au jumped 13 points on the index to be ranked the top brand improver among Australia’s millennial generation, aged 18 to 34 years…
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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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First home buyers coming back to the market while investor lending and housing starts are cooling
REIA President Malcolm Gunning said the proportion of first home buyers, as part of the total owner-occupied housing finance commitments, rose to 17.2 per cent and is the highest proportion since July 2013. “The number of first home buyer commitments increased by 14.0 per cent for the month and is the highest since December 2009,” Mr Gunning said. “By contrast,…
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Storage start-up Spacer raises $2.7 million and acquires Parkhound
The key pillar to Spacer’s strategy has been to source, utilise and commercialise unused ‘space’, typically from households and small businesses. The next phase of growth will focus on offering commercial inventory and car park sharing with the acquisition of Parkhound. “Following our most recent round of funding, the second phase of business growth is focused on tapping into Australia’s…
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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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Century 21 franchisees still ‘sold on gold’
Charles Tarbey, Chairman and Owner of Century 21 Australasia, is delighted that the offices have chosen to continue their real estate journey bearing the Century 21 brand. “These offices are full of talented and committed real estate professionals and it has been wonderful to see them use our brand, systems and platforms to excel in the industry,” said Mr Tarbey.…
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Tradies have ditched their bad behaviour according to ServiceSeeking.com.au survey
Tradies have long had an “image” issue. Smokos, wolf whistles, messy footprints through the house, Four ’N’ Twenty pies and the builder’s crack to name a few. Apparently, Aussie tradies have shifted their attitudes though according to new ServiceSeeking.com.au survey. They’ve ditched their bad behaviour to become health conscious and courteous. According to a recent survey of 1,700 users of trade…
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REA Group partners with NAB to launch home loan service
On realestate.com.au Home Loans, buyers can instantly apply for online conditional approval for a home loan powered by NAB and have their finance information overlayed as they search. Or they can access a panel of more than 30 other lenders through realestate.com.au Home Loans. REA Group and NAB announced a strategic partnership in December 2016 with the aim to create an…
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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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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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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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Live-stream auction app Gavl secures $1.8 million in funding
Digital startup Gavl has secured $1.8 million in its Series A funding from Harris Capital, the investment office of Flight Centre founder Geoff Harris. Launched in December 2016, Gavl enables real-time bidding of live-streamed auctions from anywhere in the world. Founded by AFL player-turned-businessman Joel Smith with Leith Donaldson and Michael Artup, Gavl was launched with a $300,000 bootstrap from…
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RE/MAX named the leading real estate franchise by Franchise Times
The Denver-based global franchisor, founded by Dave and Gail Liniger 44 years ago, RE/MAX was once again ranked in the top 10 of all franchises. Franchise Times magazine has been the USA’s publication devoted exclusively to the global franchise community for almost two decades. RE/MAX Australia Managing Director Michael Davoren said that being ranked the top real estate franchise year after…
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Charles Tarbey honoured with REINSW’s top award
REINSW President John Cunningham paid tribute to Mr Tarbey as a true leader in the industry with incredible vision. “Charles has dedicated his life to the real estate industry and has been a great supporter of REINSW throughout his career,” Mr Cunningham said. “He is one of the greatest real estate visionaries, particularly where technology is concerned and has trained…
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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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The Harcourts Foundation reaches $5 Million milestone
The Foundation is funded through Harcourts employee salary sacrifice, ‘off the top’ contributions from sales commissions, and through organised fundraisers. “The money raised is significant, but what truly is impressive is how Harcourts people are impacting our communities, from supporting programs to end violence against women, and aiding underprivileged families to creating a network of financial support for hospice care,”…
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Property investors reminded that tax deadline is looming
Bradley Beer, the CEO of BMT Tax Depreciation, said that while depreciation deductions provide a valuable opportunity for investors to maximise their cash flow, this could be reduced if they incur penalties from the ATO for failing to lodge their tax returns on time. “Earlier in the year, the government proposed changes to rules surrounding plant and equipment deductions and…
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REA Group accredited as a White Ribbon Workplace
To become accredited, workplaces must spend 18 months demonstrating their commitment to gender equality, increasing awareness within their organisation of the issue, and leading by example within their industry. Over this period REA has implemented many changes to further foster a culture of equity, antiviolence and mutual respect for all its people. It has introduced a training program to help…
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