National
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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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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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