National
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REA Property Demand Index Falls in April
Attempts by the banking regulator to put a brake on an overheated housing market may finally be working after the latest REA Group Property Demand Index released yesterday revealed a 4.3 per cent drop in buyer demand for April. The biggest fall was in NSW (7.8%) followed by Queensland (5.4%). However, REA Group Chief Economist Nerida Conisbee said demand in…
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Capital gains ease and month-on-month growth conditions slow: CoreLogic
Highlights over the three months to April 2017 Best performing capital city: Hobart +5.1 per cent Weakest performing capital city: Perth -2.4 per cent Highest rental yields: Hobart and Darwin houses with gross rental yield of 4.9 per cent and Hobart units at 5.4 per cent Lowest rental yields: Sydney and Melbourne houses with gross rental yield of 2.7 per…
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Preliminary auction clearance rate and volumes strengthen from sub 70 percent final result last week
Preliminary clearance rate strengthens after last week saw the final clearance rate fall below 70 percent National auction clearance results for the week ending 30/04/2017 courtesy of CoreLogic The combined capital city preliminary clearance rate rose to 76.9 percent this week, increasing from last week when final results saw the clearance rate fell to 69.8 percent after 10 consecutive weeks remaining in…
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Rate City announces industry home-loan ‘sale’
Financial comparison site RateCity.com.au announced today it will be hosting Australia’s first industry home loan sale, offering refinancers exclusive deals and potential savings of up to $39,000 for customers of the big banks. The sale will include the lowest ongoing variable rate, exclusively at RateCity.com.au/sale. Starting Monday 8 May at 6am (AEST) and lasting for only 40 hours, the Switch…
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Australia’s fastest selling suburbs: CoreLogic
Low interest rates coupled with higher levels of demand for housing has seen property sales in some areas take off faster than in others. Today in the CoreLogic Property Pulse, we take a look at the 10 suburbs in each state with the shortest median selling time for houses and units over the 12 months to January 2017. CoreLogic research…
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Property Council releases it’s 10 point plan to fix affordability
A proven scheme to help first home buyers bridge the deposit gap and a suite of measures to address using supply are at the centre of the Property Council’s plan “Fixing Housing Affordability”. Broadly, the plan identifies 10 areas to tackling rising house prices: Crank up housing supply, diversity, and choice Make housing cheaper to produce Incentives to spur reform…
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Superannuation won’t help first time buyers get into the Sydney & Melbourne: CoreLogic
First-time home buyers expecting to use superannuation savings as a deposit for a property in either Sydney or Melbourne may find both cities way too pricey and would be still locked out from the housing market, CoreLogic research analyst Cameron Kusher has said. Broadcaster ABC recently crunched the numbers and showed that based on the average earnings for a 25…
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A rise in the combined capital city auction volumes post Easter delivering softer clearance rates
Volumes rise across the combined capital cities and return a clearance rate of 72.1 percent National auction clearance results for the week ending 23/04/2017 courtesy of CoreLogic Auction activity increased significantly across the combined capital cities this week after last week’s Easter period slowdown, with 1,732 homes taken to market and a preliminary clearance rate of 72.1 percent, down from 73.9 percent…
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Regional areas a draw for established buyers and retirees: Domain
Key Findings Regional resurgence in coastal areas including Tweed and Wollongong, with yearly price growth to date now 13-20 percent Richmond Valley records strongest quarterly growth, up 16.4 percent Median house prices in Dubbo, Orange, Wagga Wagga and Mackay are down over the quarter There are some major market movements in the March quarter and across the calendar year, with…
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Master Builders Australia welcomes 457 visa program changes
Master Builders Australia say they welcome changes to the temporary skilled migration program which was announced by the Government on Tuesday. Master Builders Australia chief executive Denita Wawn said providing Australians with jobs, and training the younger generation for rewarding careers, has always been their priority. “However access to foreign workers to fill immediate skills gaps on projects where locals…
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Individuals claiming a net rental loss starting to flatline
The number of individuals claiming a net rental loss has flat-lined over recent years according to recent data by the ATO. CoreLogic research analyst Cameron Kusher provides commentary on the recent data. The Australian Tax Office (ATO) released their taxation statistics for the 2014-15 financial year last week, and from a housing market perspective it provides some really valuable data on…
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Housing Affordability Records Improvement: HIA
The latest Housing Industry Association (HIA) report indicates that there has been a steady improvement in housing affordability during the opening months of 2017. HIA senior economist, Shane Garrett in a statement said that during the March 2017 quarter, the HIA Affordability index improved by 1.9 percent – and is 1.2 percent better than this time last year. “The improvement…
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Easter long weekend returns a rise in capital city auction clearance rate on subdued volumes
Across the combined capital cities, the auction clearance rate rose to 78.8 percent last week, from 74.8 percent the previous week. National auction clearance results for the week ending 16/04/2017 courtesy of CoreLogic The number of homes taken to auction, however, fell to just 487 across the capital city markets, with Sydney host to the majority of auctions last week (275). Preliminary…
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The demographics of a typical Australian as revealed by ABS Census Data
What makes an average Australian? The Australian Bureau of Statistics (ABS) has released preliminary results ahead of the overall result due in June. In the meantime, the 2016 Census has revealed the ‘typical’ Australian is a 38-year-old female who was born in Australia and is of English ancestry. She is married and lives in a couple family with two children and…
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Treasurer’s pre-budget comments considered positive by industry experts
In a key pre-budget address to the Australian Housing and Urban Research Institute, Treasurer Scott Morrison reaffirmed the Coalition’s strident opposition to changing negative gearing tax concessions, plus a drive to increase private investment in the supply of housing. Key points in Morrison’s Address No disruption to current negative gearing policies (as this would come at a cost to renters)…
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Young Aussies still behind when it comes to homeownership, says HSBC study
83 percent of Australian millennials intend to purchase a home in the next five years Less than a third of millennials own a home in Australia Only 17 percent of Australian millennials have a precise budget for buying a home Eighty-three percent of Australian millennials having intentions of owning a home in the next five years, but the number of…
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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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