National
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Belle Property Celebrates the Best of 2016-2017 at Annual Awards
Belle Property Dee Why swept the awards evening and were crowned the number one office for gross commission earned and number two for number of transactions. Agent Nick Duchatel was ranked the number one agent (GCI), Lauren Bridges was awarded BDM of the Year (transactions) and agent Jo Morrison received the Excellence Award for most improved over a two-year period.…
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REA Group goes live with a design uplift for new homes
REA Group has gone live with a design uplift to the new homes section of their website. With half of property seekers on realestate.com.au considering off-the-plan property, REA’s Joseph Lyons said the section of the site (https://www.realestate.com.au/new-land-estates/) plays a critical role in meeting the needs of consumers across Australia, and also offshore investors. Mr Lyons, REA Group Executive General Manager – Developer…
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Fairfax confirms Domain will begin trading in Mid-November
Fairfax Media expects Domain to begin trading in mid-November after it separately lists the real estate classifieds and services business, the AFR reports. Fairfax released details of the spin-off following the release of their full year results, which saw the publisher report a net profit of $84 million. Fairfax also reported a six per cent reduction in operating costs, thanks…
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LJ Hooker and Facebook team up in game-changing digital strategy
The announcement forms part of LJ Hooker’s $1 million investment in the Spring launch of its integrated digital and social media platform, LJ Hooker Boost developed by the group’s innovation centre, LJX-Lab. LJ Hooker Boost is a custom-built, automated Facebook and Instagram advertising platform, powered by strategic partner Tiger Pistol, which will amplify the profile of agents, listings and generate…
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Recent Slump in Investor Mortgage Demand Slowed in June 2017
In June 2017 there was $33.3 billion worth of housing finance commitments which was 0.8% higher than the previous month and 2.9% higher than June 2016. In June 2017 there was $20.7 billion in housing finance commitments to owner occupiers with a further $12.5 billion to investors. The total value of owner occupier housing finance commitments was 0.3% higher over…
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Auction volumes highest they’ve been for 6 weeks with a low 70’s clearance rate.
National auction clearance results for the week ending 13/08/2017 courtesy of CoreLogic This was the largest number of auctions held since the last week of June 2017 and approximately one third higher compared with the same week a year ago. However, as more results are collected it is expected that the final auction clearance rate will be revised lower to remain within…
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Demand for Australian property hits a new peak, REA Demand Index
According to the REA Property Demand Index, after a choppy few months, demand surged again in July with even the struggling WA market starting to hit its stride. Only one section of the Australian market, NSW apartments, saw a slight drop in demand. Chief Economist Nerida Consibee said, “Given that the state has been seeing decades of housing undersupply, this…
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Harcourts Group Australia Continues Market Share Growth
With an estimated market value in third position overall against all real estate groups nationally, Harcourts was the only national group amongst the top five to have effected an increase in market value over the past quarter reporting, according to CoreLogic. According to a release supplied by the company, of the seven states in which the national real estate franchise network…
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First Home Buyers Returning to Housing Market
“The proportion of first home buyers, as part of the total owner-occupied housing finance commitments, increased to 15.0 per cent and is the highest since February 2014. The number of first home buyer commitments increased by 1.6 per cent for the month, following a 28.9 per cent increase the previous month and is the highest since October 2014, ” REIA…
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Michael Davoren to represent RE/MAX Australia at Global Franchise Forum
For the first time outside of the United States, six RE/MAX franchisees will meet as the Global Franchise Forum (GFF) at the RE/MAX Asia Pacific Convention on the Gold Coast at the end of this month, with their goal to bring information from the 100-plus countries in the RE/MAX network. RE/MAX Australia and RE/MAX New Zealand Managing Director, Michael Davoren,…
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Walk A Mile In Their Shoes 2017 set for 1 September
At eight locations across Australia, Harcourts staff, family, friends and supporters will ‘walk a mile’ in women’s heels to show solidarity and bring awareness of violence against women. Raising funds through the group’s charitable arm, The Harcourts Foundation, all monies raised will support White Ribbon’s ‘Breaking the Silence’ prevention initiatives in primary and secondary schools. The fifth annual event aims…
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CoreLogic Property Pulse and auctions 10 August 2017 – Million Dollar Sales at Record Levels
Research by analyst Cameron Kusher shows that the cost of housing has continued to rise in most parts of the country over the past 12 months. He said, “Bracket creep should come as no surprise in markets like Sydney and Melbourne, where dwelling values have increased by 77 per cent and 61 per cent respectively over the past five years.…
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Reapit launch new digital module to enable 24/7 interaction with clients
The new digital tools are fully integrated with Reapit’s CRM software to support the ultimate customer service experience by offering clients choice and flexibility on how and when they communicate with agents. Changes made in the CRM software are immediately reflected in the digital portal and vice versa. RPS Digital allows vendors to make real-time property appraisal bookings by displaying…
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Raine & Horne launch a new office in Fiji
With the launch of this office in Fiji, Raine & Horne has plans to open more offices in the Pacific, the Indian subcontinent, and the Middle East in the next 12 months. It has recently opened two offices in Dubai. “Australia is a global leader in the delivery of real estate agency best practice, and Raine & Horne is a…
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Auction volumes were down in the first week of August however preliminary clearance rate was higher
National auction clearance results for the week ending 06/08/2017 courtesy of CoreLogic The preliminary auction clearance rose to 71.5 percent, after last week saw the final auction clearance rate fall slightly to 68.7 percent (revised lower from a preliminary clearance of 70.7%). Over the last month, auction volumes have remained relatively steady and while clearance rates have shown a softening, final results…
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RE/MAX rebrands finance arm
RE/MAX Australia has announced the rebranding of its finance arm and the real estate network’s position as its sole owner. Pivotal Financial, formerly Australian Property Finance, will leverage from the growing RE/MAX network and from its new strategic partnership with Connective, Australia’s leading aggregator. Matthew Andrews, the recently appointed General Manager of Pivotal Finance, said his division would offer RE/MAX…
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Domain launches open API
Domain Group has launched an open API allowing developers, businesses, and partners to access the company’s property datasets. “This is the first move of its kind in Australia’s property space and one that has the power to reshape the future of innovation for the industry,” said Simon Farrugia, Senior Product Manager, Platforms & API at Domain Group. “To date, it…
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Darwin agent Adam McCann named top Raine & Horne salesperson
Darwin sales agent Adam McCann was named Raine & Horne group’s top salesperson for this financial year. The leading Darwin firm commands 12 per cent market share of the property rental market and a 22 per cent share of the sales market. Mr McCann received his award at the 40th annual Raine & Horne Awards held at the Darwin Convention Centre…
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LJ Hooker expands national growth team
Steve Mutton joins LJ Hooker as its Queensland Development Manager, bringing with him growth and franchise leadership having owned six Ray White agencies on the Gold Coast. Mr Mutton is tasked with growing the brand’s Queensland network in emerging markets from Coolangatta to Cairns. Auctioneer David Holmes has also been appointed as LJ Hooker’s National Auctions Manager and will oversee…
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Gold Coast, Australia plays host to global RE/MAX contingent
RE/MAX is hosting their third annual Asia Pacific convention in Gold Coast this year with more than 400 people expected at the event. RE/MAX Managing Director Michael Davoren is counting down the days this month as real estate networks either side of the Tasman prepare to welcome the world to the Sheraton Mirage Resort on the Gold Coast. “The program,…
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RBA leaves rates on hold in August 2017
In his statement, RBA governor Dr Philip Lowe expressed a degree of concern about the impact a stronger Australian dollar is having on economic activity. The Australian dollar exchange rate remains at above 80 US cents. “The higher exchange rate is expected to contribute to subdued price pressures [inflation] in the economy,” Dr Lowe said. He also commented on the…
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CoreLogic home value index shows house prices jumped 1.5 per cent across capital cities in July
Melbourne house prices jumped 3.1 per cent in July and have been the key driver in the 1.5 per cent increase in combined capital city dwelling values for the month. CoreLogic’s latest home value index shows house prices rose in Sydney by 1.4 per cent, while Canberra prices jumped by 2.4 per cent but fell in Brisbane (-0.6%), Perth (-1.3%)…
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HIA: New home sales hit lowest level since 2013, while housing affordability continues to decline
New home sales in Australia’s largest states hit their lowest level since October 2013, with sales sliding in both the detached house and multi-unit sides of the market, according to the latest HIA New Home Sales Report. New homes sales declined by 6.9 per cent in June compared with the previous month and were 11.9 per cent lower than the…
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Crowdfunding opens the door to Australia’s property market
Lead researcher, UniSA’s Dr Braam Lowies, says the groundbreaking study assesses individual investor motivation and appetite for crowdfunding and its potential as an alternative investment vehicle for entering Australia’s tenuous property market. “There’s a lot of debate about the current state of Australia’s housing market, and its inaccessibility, especially first-time homebuyers, who lack foundation capital get their first home,” Dr…
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RE/MAX explodes into new financial year
RE/MAX Australia began this financial year with the same growth pattern as the end of the previous year with a new office signing each week over an eight-week period in June and July. “RE/MAX has arrived in Hendra and Seventeen Mile Rocks in Brisbane, Hoppers Crossing in Melbourne and Baulkham Hills in Sydney this month, said Franchise Director Joel Davoren.…
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Auction volumes continue to increase as preliminary clearance rate scrapes above 70%
National auction clearance results for the week ending 30/07/2017 courtesy of CoreLogic Auction clearance rates have seen a slight improvement across the combined capital cities over the month of July, with the final clearance rate over the last two weeks just falling short of the 70 percent mark. Auction volumes were higher this week with 1,957 homes taken to auction across the…
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CSIRO Acquires The Centre for Liveability Real Estate
In June 2016 CSIRO acquired The Centre for Liveability Real Estate™ and the intellectual property for the Liveability Real Estate™ Framework from Hooker Corporation. In an official statement, the CSIRO said that “The Liveability Real Estate™ Framework is aspirational and positive, targeting the desirable features of a house that a buyer or seller can transparently seek out, have a conversation…
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CoreLogic Property Pulse and auctions 27 July 2017 – renting on the rise and homeownership declining
CoreLogic research analyst Cameron Kusher said analysis of recent Census results show the proportion of properties rented has been trending higher, increasing from 29.6% at the time of the 2011 Census and 27.2% at the time of the 2006 Census to reach 30.9% of all dwellings in 2016. “While the proportion of dwellings being rented is climbing, the proportion of…
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London house sells after having viewing staged over Facebook Live
Estateagenttoday.co.uk reported that the online agency Housesimple was aiming to sell the three-bedroom semi-detached bungalow in Rainham, east London, valued at between £470,000 and £475,000. The owner, Shanty Helim, staged the Facebook Live viewing herself, and viewers were encouraged to make an offer on the home via the Facebook Messenger application during and following the streaming. Over 20,000 people viewed…
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Ray White has biggest year yet with $44 billion in sales
Ray White Group have reported their biggest-ever year with $44.7 billion in sales in 2016-17, up four per cent on the previous fiscal year. The Ray White Group’s sales market share in Australia and New Zealand improved 0.15 per cent to 10.3 per cent in the year to June, and with around 15 per cent of the auction market. Ray…
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REA community partnership with Launch Housing to combat homelessness
Launch Housing has been REA Group’s major charity partner since 2014 and since then have helped 1,367 women and children from 483 houses with financial assistance, through the National Rapid Rehousing Fund, which provides financial assistance to women and children who are at risk of, or experiencing, homelessness as a result of domestic violence. REA has also announced two new partnerships,…
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Survey finds 7 out of 10 Australians believe market for Airbnb is growing
The quarterly report released by And Chill Property Management – Australia’s leading Airbnb management agency for property investors – is derived from survey responses from 1,200 individuals across Melbourne and Sydney. The Short Stay Confidence Index report examines the sentiment around the growth of the Airbnb market as well as the willingness for property investors to list their homes on…
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Auction volumes lower with 1600 properties taken to auction, returning a stronger preliminary clearance rate of 72.4 percent
The number of homes taken to auction across the capital cities has fallen for the 4th week in a row, with just 1,612 auctions held this week, down from 1,766 last week, although higher than this time last year when 1,391 properties went under the hammer. National auction clearance results for the week ending 16/07/2017 courtesy of CoreLogic The combined capital city…
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Auction volumes continue downward trend returning a preliminary clearance rate of 70.7 percent
The combined capital city preliminary clearance rate increased to 70.7 percent this week, up from 67.3 percent last week, while auction volumes fell week-on-week. There were 1,751 properties taken to auction this week, down from 2,001 last week. National auction clearance results for the week ending 09/07/2017 courtesy of CoreLogic Auction volumes were higher than this time last year when 1,399 auctions…
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Industry responds to RBA’s July interest rate decision
The Reserve Bank of Australia kept interest rates on hold at 1.50 per cent at its July 2017 board meeting yesterday. Here’s what some industry players had to say following the RBA’s decision: John Cunningham, REINSW President “It comes at little surprise that the RBA has decided to keep a neutral position for the 10th meeting in a row. We believe…
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