National
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Century 21 Launches Australasian Project Marketing Business
Century 21 has launched the group’s first overarching project marketing business that will have a presence across Australasia and in each Australian capital city. The business will work closely with both developers and the Century 21 franchise network to implement full-service project marketing strategies for residential projects from concept to completion. Century 21 Project Marketing will be led by Alex…
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Preliminary clearance rate holds above 70 percent as the number of auctions held slips lower
The first week of winter saw auction volumes fall, with 2,545 homes taken to auction, compared to 2,885 the previous week. The preliminary clearance rate across the combined capital cities was higher (73.9 percent) compared with last week’s finalised result, which was the third lowest clearance rate so far this year (71.3 percent). National auction clearance results for the week ending 04/06/2017 courtesy…
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Juwai.com Appoints Georg Chmiel to its Board of Directors
Juwai.com announced today the appointment of Georg Chmiel to its Board of Directors. Mr Chmiel has nearly 17 years of experience directly in the online real estate and property industry. Chmiel is currently Group CFO and Director International of iflix, the streaming entertainment service available to one billion consumers across 18 markets throughout Asia, the Middle East and North Africa.…
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Rex Software launches CRM app Pocket by Rex
Rex Software is proud to unveil a first full-featured mobile CRM app for real estate agents: Pocket by Rex. Now available for iOS on the App Store and for Android on Google Play. Conducting client surveys in 2016, the results indicated to REX that agents spend anywhere from 60-80% of their working lives out of the office. A year in the…
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REA Group moves into new Sydney home
REA Group has moved its Sydney headquarters into a new 950 sqm ‘home-styled’ office, mirroring what the company does best in connecting people and homes. Designed by leading interior and architectural design firm Futurespace, the new REA Group Sydney office is sectioned into the same kind of rooms you would find in a home. Managing Director of Futurespace, Angela Ferguson…
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APRA Data shows easing of LVR Lending, CoreLogic
CoreLogic research analyst Cameron Kusher comments on data released by APRA earlier the week showing LVR lending is easing up with a further slowdown expected. Data released by the Australian Prudential Regulation Authority (APRA) earlier this week has shown that high loan to value ratio (LVR) lending continues to fall indicating new buyers are in many instances using larger deposits.…
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realestate.com.au joins forces with The Property Couch
realestate.com.au is teaming up with The Property Couch, one of the country’s best property podcasts, to bring Australians the property information, insights and advice they need to help with one of life’s biggest decisions. The Property Couch is made up of two of Australia’s most respected property experts, Bryce Holdaway and Ben Kingsley, who are passionate about helping people make smart…
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Budget Boost For Housing Could Build 100,000 Homes
New economic modelling commissioned by Master Builders Australia forecasts that the $75 billion infrastructure and housing affordability measures announced in the Budget will deliver a substantial 41% boost to the supply and affordability of housing. “Increasing supply is the only effective way to keep the dream of home ownership alive. Master Builders has lobbied for measures to support the building…
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Auction volumes continue to strengthen and combined national preliminary clearance rate at 78 percent
Preliminary figures show a combined national clearance rate of 77.9 percent of auctions were successful across the combined capital cities, while auction activity rises week-on-week National auction clearance results for the week ending 21/05/2017 courtesy of CoreLogic Auction activity across the combined capital cities increased this week, up from 2,409 auctions last week, to 2,794 this week, making it the sixth busiest week…
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Box+Dice and Real Estate Bookings announces integration
Real estate agencies who use Box+Dice and Real Estate Bookings are now able to utilise the functionality of both platforms together with the recent announcement of their integration. Scott Parrot – COO at Box+Dice “Box+Dice software is always looking to provide value for our clients. Real Estate is an online business and with Real Estate Bookings feeding all buyer enquiries…
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New App Removes Price Barrier to Augmented Reality
The case for using augmented reality (AR) technology in the real estate industry has always been compelling but for many, implementation costs have put it way out of reach – until now. Imagine consumers being able to use Augmented Reality to see how their furniture might look in a new property at the touch of a button on their mobile devices;…
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LPMA 2017 Annual Award Winners Announced
The Leading Property Managers of Australia (LPMA) had their Annual Awards Dinner at The Star Gold Coast on 4 May 2017. Executive Director of LPMA, Bob Walters said “This year we had a record number of entrants and the calibre of entries was outstanding. It shows that the level of service, efficiency and professionalism of LPMA member firms gets better…
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Chinese Buyers Still Dominate But Buying Fever Has Eased
The head of the world’s leading Chinese website for international real estate has praised the latest Foreign Investment Review Board annual report as proof the current system is working well. Juwai CEO Charles Pittar said it showed foreign investment was going right where Australia wanted it and was one of the few bright spots in the economy. FIRB chairman Brian…
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Auction volumes increasing with the combined preliminary clearance rate holding in the mid 70’s
Auction conditions remain strong with a rebound in auction volumes and higher preliminary clearance rate over the second week of May with 2,376 auctions nationally and a combined national auction clearance rate of 76.6 percent (76.2 percent weighted average) National auction clearance results for the week ending 14/05/2017 courtesy of CoreLogic Auction markets have remained resilient, with both volumes and the preliminary…
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Property investors to lose in budget changes, says Bradley Beer
The 2017 Federal Budget, handed down by Treasurer Scott Morrison this week includes proposed changes which will affect residential property investors Australia-wide. The Australian Tax Office (ATO) allows owners of income producing property to claim depreciation deductions for the wear and tear that occurs to a building’s structure and the plant and equipment assets within. The proposed changes relate to…
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Stock Levels Rise as Demand Slows
Following years of frenetic activity in Australia’s hottest real estate markets, more signs are emerging that buyers might be ready to take a breather after CoreLogic reported stock levels are now outstripping demand in some cities. Months of Supply figures are used to predict how long it should take to clear volumes of stock currently on the market and found…
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Online Property Listings Businesses Remain Buoyant
Australia’s two largest online property portals are still doing most of the ‘financial’ heavy lifting within their parent’s businesses. REA Group, part of News Corp and owner of realestate.com.au, announced an impressive 16 per cent growth in Australian revenue for the March quarter compared with the same period last year. Its ASX announcement noted the result was driven by the strength…
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Overview of budget implications for housing and housing affordability: Tim Lawless
With so much debate about housing affordability it was always going to be the case that the 2017 budget included key policies aimed at improving the affordability of housing and addressing some of the systemic issues that have pushed housing prices out of reach for many Australians. At face value, the budget measures present a good attempt at improving housing…
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New Auction Payment App on Track for Spring Sales Launch
The days of property buyers having to roll up to auctions armed with cheque books they might never otherwise use appear to be numbered with Macquarie Bank on track to launch Australia’s first electronic auction payment application in time for the spring auction season. About a dozen agents in NSW and Victoria are now piloting the DEFT AuctionPay app, which…
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The Eight Best Budget Moments from #Budget17: Sarah Bell
The 2017 Federal budget has been mostly received well judging from commentary by property pundits so far. A goldilocks attempt to temper the forces of supply and demand; of foreign investment and affordable housing without causing economic shockwaves. But, Federal Treasurer Scott Morrison or #ScoMo as he is trending was going to have a difficult time pleasing everyone. “The government is…
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Budget housing measures fair and responsible with some welcome innovation says R&W chief
Scott Morrison’s 2017/18 Budget passes the test for fairness and responsibility whilst offering some innovative opportunities that will support and encourage affordable housing for those most in need, according to Andrew Cocks, Managing Director of Richardson & Wrench, Australia’s oldest real estate group. Mr Cocks said the Treasurer had outlined a number of measures that would directly assist first home…
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Meet the AREAs judges: a who’s who of property & media
With the countdown on, REA Group is pleased to announce the first 15 judges of the Annual REA Excellence Awards. Coming from the media, property, data, technology and not-for-profit sectors, the first judges to be announced are some of the most respected and experienced in their professions: Ange Ferguson, Group Managing Director, Asia Pacific at ThoughtWorks Chris Gray, leading investment…
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Stamp duty is stopping Australian’s from selling: LJ Hooker
A survey by LJ Hooker has shown that Government charges are dissuading property owners from selling their homes, driving up demand and impacting affordability. The survey of 2,700 homeowners showed 44 per cent of respondents who wanted to sell in 2016 but decided against it, cited transactional imposts such as the stamp duty they would pay on their next property…
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New Home Approvals Cycling Down
Building approvals data for March 2017, released today by the ABS indicate that residential building is set to slow, according to the Housing Industry Association (HIA). HIA Acting Chief Economist Warwick Temby said “the 13 per cent decline in new dwelling approvals during March (seasonally adjusted) confirms HIA’s forecasts for a slowing in new residential building projects through 2017. “From the record…
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Affordability Crisis Could Lead to the First ‘Cubby House’ Generation: CoreLogic
The Federal Government has a big task ahead as it prepares to release its housing affordability strategy in today’s Budget after new research by CoreLogic has revealed the affordability crisis has created an entrenched pessimism about high prices and the prospects of future home ownership. The latest CoreLogic Perceptions of Housing Affordability survey showed nearly 90 per cent of non-home…
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Leading LJ Hooker Business Moves to Ray White Group
LJ Hooker Lower North Shore, one of the top businesses for LJ Hooker worldwide, is joining the Ray White Group. LJ Hooker Lower North Shore directors Richard Harding, Geoff Smith and Bernard Ryan say they are excited about both the re-brand and the potential for expansion across this region. They have been operating for 60 years and employ more than 50…
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Sydney apartments shine at 2017 national property Innovation & Excellence awards
A magnificent makeover of Bondi’s old Swiss Grand Hotel and a 42-storey apartment tower in Chatswood have taken home two prestigious awards at the 2017 Property Council of Australia / Rider Levett Bucknall Innovation and Excellence Awards. RLB has partnered with the Property Council of Australia to present the Innovation & Excellence Awards program since its inception in 1982.The 2017…
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Preliminary clearance rate holds firm around 74 percent on lower auction activity in the first week of May
This week, 1,662 capital city auctions were held and preliminary results show that 1,365 auctions have been reported so far, with a preliminary clearance rate of 74.6 percent, rising from a final clearance rate of 74.0 percent last week across 2,350 auctions. National auction clearance results for the week ending 07/05/2017 courtesy of CoreLogic While clearance rates remain above the long-term average…
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Are Governments becoming too reliant on property tax revenue?
The growing reliance of state and local governments on fat property tax revenues generated by the eastern states’ property boom has prompted analysts at CoreLogic to issue a warning – it may be time to consider a more sustainable model. Research analyst Cameron Kusher said the latest ABS data showed property taxes now accounted for a record 52% of the total…
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New Biometric Technology to Speed Up Loan Approvals
Property agents should appreciate the flow-on effects of ground-breaking new identity verification technology, based on facial recognition, that is set to streamline mortgage approvals and speed up the whole property transaction process. The solution, being hailed as Australia’s first fully digital verification of identity (VOI) process, is a response to the strict and time-consuming Know Your Client (KYC) identification requirements…
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Static LED displays light up real estate agents’ bottom line
Australia’s real estate agents – whether in busy city locations or more relaxed regional settlements – are finding that backlit window displays that present their properties and services in the most appealing light are not only enhancing customer relations but increasing revenue and profitability. One such agent is Sydney’s Perry English, while some 4,000km away in the WA resort town…
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Australians prefer to make mobile calls than get them: Roy Morgan Research
“Don’t call me, I’ll call you.” Over three million Australians say they love being able to contact others via mobile phone whenever and wherever it suits—but don’t enjoy being contacted themselves, Roy Morgan Research shows. When it comes to their mobile phones, 14.2 million Australians aged 14+ (72%) agree, “I love being able to contact my friends wherever I am”.…
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REA Group launches Spacely, enabling Australians to work, their way
REA Group have announced the launch of Spacely, a new listings site that will make it easier for Australians to find short-term commercial rentals and co-working spaces that meet their needs. Spacely, available on spacely.com.au, will launch as a new beta experience and will evolve over the coming months. Multiple updates and improvements to the site are expected as more…
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Virtual reality technology sells Perth home to offshore buyer
A City Beach home in Perth, WA has sold for $1.83 million – $80,000 above asking price – to a couple based in Hong Kong, who beat buyers based in New York. The two buyers – both couples – competed for the property at 22 Bent Street, City Beach and used virtual reality technology to view the home. Of the…
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Century 21 Announces the winner of the Sunshine Coast Apartment
Century 21 yesterday announced that Mr Brian Gittings of Lindendale in Northern New South Wales has won the company’s inaugural apartment giveaway competition. Mr Gittings automatically entered the draw to win the $400,000 apartment after successfully selling his macadamia farm through Noel Outerbridge of Century 21 Plateau Lifestyle Alstonville in 2016. Last Friday evening he was notified at home that…
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