National
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ABS data highlights moderating investor housing finance:REIA
The latest housing finance figures released by the Australian Bureau of Statistics (ABS) on Monday confirmed that funding approvals for investor housing are moderating, the Real Estate Institute of Australia (REIA) said. The value of investment housing commitments increased by a modest 0.7 percent in February in trend terms and decreased by 5.9 percent in seasonally adjusted terms which are…
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CoreLogic appoints Geoff White as State Director For Victoria & Tasmania
The former head of Real Estate Institute of Victoria (REIV) Geoff White has been named as CoreLogic newest state director for Victoria & Tasmania. His appointment takes effect as of today. In a statement on Monday, White said he was elated with the opportunity as this will enable him to assist thousands of SME businesses to grow and improve their…
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What will property management look like in 2030?
Change is happening at a rapid rate and now more than ever is the time for business owners and property management departments to become aware, educated and in the know of these changes, innovations and disruptions that are taking place or you could be left behind with an outdated business, while your competitors are moving ahead. The reality is… no…
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The busiest week for auctions so far this year returns a preliminary clearance rate of 77.6 percent
The busiest week for auctions so far this year returns a preliminary clearance rate of 77.6 percent National auction clearance results for the week ending 09/04/2017 courtesy of CoreLogic Auction activity ramped up across the combined capital cities this week in the lead up to Easter, with 3,424 homes taken to auction this week, recording the highest volume of auctions year-to-date. The…
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Crystalknows, a software that helps a person write emails the correct way
US-based software Crystalknows is an AI type software that helps users write emails in a tone that would connect more specifically to their recipients. Email app Crystalknows thinks it knows how you like to be spoken to, and also knows how others like to be spoken to. The software looks at characteristics of a person according to the public information…
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Cooling measures do little to stem property demand says REA, prices will continue to rise in April
Queensland concerns – drop in rental demand suggests the market will take time to absorb current supply Demand for rental properties on realestate.com.au hit a record high in March Buyer demand for NSW units weakened in March – affordability issues beginning to impact the state Victorian first home buyer measures have further accelerated demand Cooling measures pushed through by Australian…
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Harcourts International seeing positive results with auctions in the US
Australian-headquartered real estate group Harcourts has found much success in the United States in recent months with the introduction of the their new auction platform. The group which has over 30 offices in the USA began trialling the Australian auction process throughout Southern California late 2014 and to their surprise with overwhelming response. This was a far cry from the…
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REINSW welcomes changes to give grants for first home buyers to buy established homes
Reports that the New South Wales government is considering changes for first homebuyers including subsidies for the purchase of existing homes, as well as new ones and amendments to stamp duty, is consistent with effort taken by the Real Estate Institute of New South Wales for months on end. REINSW president John Cunningham said the institute had been highlighting the…
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REIA President: Pest And Building Reports Ought To Be Compulsory In All States
All Australian states should make it mandatory for prospective buyers to obtain a pest and building report from the current owner of the properties and not have to pay for those reports individually. Real Estate Institute of Australia (REIA) president Malcolm Gunning noted at present only Canberra and Tasmania made it compulsory for sellers to offer these reports to their…
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RBA leaves cash rate unchanged at 1.5 percent
The Reserve Bank of Australia (RBA) has decided to leave the cash rate unchanged at 1.5 percent after its monthly meet on Tuesday. RBA governor Philip Lowe said the Australian economy is continuing its transition following the end of the mining investment boom. “Recent data are consistent with ongoing moderate growth. Most measures of business confidence are at, or above,…
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R&W Opens New Illawarra Office
The Richardson & Wrench group has opened a new office in the fast-growing Illawarra region which will start trading on Monday. Known as R&W Dapto, the new office marks the return of the franchise to the Illawarra region after an absence of many years. R&W Managing director Andrew Cocks said the combination of Sydney’s growing population and housing affordability pressures…
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Kitchens And Bathrooms Now Worth A Whopping $11 Billion A Year
The Housing Industry Association (HIA) revealed on Tuesday that the installation of new kitchens and bathrooms in Australia is now worth a whopping $11 billion a year. With that in mind, the association decided to launch the HIA-GWA Kitchens and Bathroom Report for 2016/17 to study the trend further. “The installation of new kitchens and bathrooms in Australia is worth…
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Home Values Rise To Unprecedented Levels says CoreLogic March Report
Best performing capital city: Hobart +5.6 percent Weakest performing capital city: Darwin -3.1 percent Highest rental yields: Hobart & Darwin with gross rental yield of 5 percent and Hobart units at 5.6 percent Lowest rental yields: Sydney & Melbourne houses with gross rental yield of 2.7 percent and Sydney units at 3.7 percent Most expensive city: Sydney with a median…
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First National Real Estate top Victorian and Tasmanian Agents Honoured
First National Real Estate’s Victorian and Tasmanian agents were presented with their General Excellence and Marketing Awards at a dinner hosted last week. The awards brought recognition to the best of both states’ real estate performances throughout last year, which according to First National Victoria Chairman, Rob Westwood, contributed to First National Real Estate winning Canstar Blue’s ‘Most Satisfied Customers’ award…
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Former McGrath sales director now the Agency’s new CEO
Ausnet Financial Services has appointed Sydney-based Matt Lahood as the Agency’s first CEO, effective immediately, the company told the ASX in a statement on Monday. Lahood who most recently held the position of director of sales for McGrath real estate comes with more than 28 years’ of industry experience, the company said. “I am very excited about my new role at the Agency as…
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APRA tightens rules around interest-only loans
In a bid to calm the hot property market, the Australian Prudential Regulation Authority (APRA) has announced several measures to clamp down on interest-only loans. All lenders have been informed by APRA that they should limit the flow of new interest-only lending to 30 percent from the total new residential mortgage lending, and to have strict internal limits on the volume…
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National auction volumes ease while preliminary clearance rates fall below 80 percent
Preliminary clearance rate remains strong, while auction volumes fall week-on-week after some record weeks of auction volume activity. National auction clearance results for the week ending 02/04/2017 courtesy of CoreLogic The combined capital city preliminary clearance rate remains in the mid-high 70 percent range for another week, while auction volumes decrease week-on-week. There were 2,646 properties taken to auction this week, down…
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Population Growth explodes in Victoria
Late last week the Australian Bureau of Statistics (ABS) published demographic data for the September 2016 quarter, showing increases in population overall, most notably in Victoria. The data showed that at the end of September 2016 there were an estimated 24,220,192 persons living in Australia with the figure having increased by 1.5% over the past year. Vic was the population…
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Susan Lloyd-Hurwitz elected new President of Property Council
Susan Lloyd-Hurwitz, the Chief Executive Officer and Managing Director of the Mirvac Group, has been elected as the new National President of the Property Council of Australia. Lloyd-Hurwitz was a National Vice President to Mark Steinert who concluded his two-year term at this afternoon’s Board meeting. Lloyd-Hurwitz said she was honoured to take up the role. “The biggest challenges before…
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WA and Victoria records improved results for home sales: HIA
There was little movement in the total new home sales last month, but Western Australia (WA) and Victoria scored positive results, the Housing Industry Association (HIA) said in a recent statement. HIA chief economist, Dr Harley Dale said the association’s latest homes sales report comprising a survey of Australia’s largest home builders – revealed a bare movement of only…
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What is the state of leadership in real estate?
Research is currently being conducted to understand the state of leadership in real estate to help principals and managers build their skills. CoreLogic, together with TMJ COACHING, are surveying real estate agents across all levels to gather insights into the key issues leaders face in the industry, how well prepared they feel to deal with those issues and the different…
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Century 21’s owner now Property Connect chairman
ASX-listed Property Connect has appointed the chairman and owner of Century 21 Australasia Charles Tarbey into the same role in its organisation, effective immediately. Tarbey’s appointment as chairman of Property Connect comes together with an agreement that several Century 21 offices in Victoria and Western Australia will undertake a trial of the LiveOffer technology in Australia from April 2017. In…
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RE/MAX agent launches book, available for free on website
A Gold Coast property agent has launched a book for consumers with a title that encapsulates her indomitable spirit. “Fighting for YOU’ by RE/MAX agent Lana Faulkner is an easy-to-read ‘insider’s look’ at how to best position property to sell, including her tips for consumers to sell their property at the highest price in any market, based on more than…
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Ray White Indonesia celebrates 20 years of success
The Ray White Indonesian network recently celebrated its 20th anniversary this month, recognising the 160 offices that turned this notable Australian franchise into a market leader across the country. Led by the original founding partners, Johann Boyke Nurtanio and Sari Dewi, Ray White Indonesia were pioneers in establishing auctions since it first started trading under the brand name in 1997.…
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Bob Wolff gives his take on the challenges facing real estate businesses today
Bob Wolff, one of the very first speakers from the first AREC is due to return for AREC’s 20th Anniversary, providing more tips and strategies to achieving superstar success. Bob Wolff from the US was the very first speaker at AREC in 1997 where he shared his strategies that have become the foundation for many real estate agents in Australia…
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National auction volumes close to record high while preliminary clearance rates continue to run hot
Australia’s largest auction markets are continuing to run hot, with CoreLogic’s preliminary auction clearance rate nudging higher over the week, while the number of auctions held surges to the second highest weekly level over the year to date National auction clearance results for the week ending 26/03/2017 courtesy of CoreLogic The amount of auction activity across the capital cities increased this week,…
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LocalAgentFinder survey finds 2017 is a good time to buy and sell properties
62 percent of Australian property owners say 2017 is a good year to buy 73 percent say it’s a good year to sell 81 percent of NSW residents and 82 percent of Victorians believe 2017 is a good time to sell Research commissioned by LocalAgentFinder has found that homeowners believe that 2017 is going to be a good year to…
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ANZ joins 13 other lenders by raising interest rates
ANZ has become the latest Australian bank to join the bandwagon of lenders who have decided to raise interest rates despite it being at an all-time historic low of 1.5 percent. On Friday, the bank announced that its new interest rates would be up by 0.36 percent and would only apply to property investors and not owner occupiers. Mozo director…
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REIA celebrates its most outstanding performers
The Real Estate Institute of Australia (REIA) recognised the industry’s most outstanding talents at its 12th annual REIA National Awards for Excellence held at a 5-star hotel in Canberra last Thursday. REIA president Malcolm Gunning said more than 250 real estate professionals showed up at the event to celebrate winners across sixteen categories. “Competition was fierce across all award categories…
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LJ Hooker appoints Jason Rose to the role of National Business Growth Coach
LJ Hooker has bolstered its Business Development Team with the key appointment of industry veteran Jason Rose to head national coaching and office development. Mr Rose, who over a 30-year career has called more than 3,000 auctions, returns to LJ Hooker where he previously held network sales and auctioneer roles. A specialist in online lead generation, Mr Rose’s appointment comes…
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Let first home buyers access their super says REIA
Australians should be given a choice to access their super account for home buying purposes, said Real Estate Institute of Australia (REIA) president Malcolm Gunning. Gunning said Australians being allowed into to purchase their first home was not a radical idea as the use of retirement savings for a first home purchase has already proven to be successful in Canada,…
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More banks to follow suit on rate hikes after NAB and Westpac
It is just a matter of time before all top Australian lenders such as CommBank and ANZ start increasing their interest rates and passing on the extras to consumers, Mozo director Kirsty Lamont has opined. Hot on the heels of NAB’s out of cycle home loan rate hike last week, Westpac has just announced that it borrowers too will be…
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The REA Group AREAs announces a new award for 2017
This year’s REA group Annual REA Excellence awards (AREAs) has a brand new award being introduced this year – Gold AREA – agency of the year award. The agency of the year award will recognise agencies who work hard to set themselves apart from competitors and excel in all three award categories. The AREAs will also honour the most innovative,…
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Preliminary clearance rate and auction volumes increase across the combined capital cities
Preliminary clearance rate and auction volumes increase across the combined capital cities National auction clearance results for the week ending 19/03/2017 courtesy of CoreLogic The capital city clearance rate increased this week, with preliminary results showing that 76.2 percent of reported auctions across the combined capital cities were successful, compared to 75.1 percent last week and 68.8 percent one year ago. Auction…
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Investors Still Keen In Buying Properties In Australia says Momentum Wealth
Despite concerns over potential property price bubbles, oversupply issues and cyclical downturns, Australian property investors remain bullish with one in two investors aiming to grow their portfolios in the next few months. A national survey of 444 property investors by property investment consultancy Momentum Wealth found that 53 percent of respondents said their primary goal right now was to either…
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