National
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RBA keeps cash rate fixed at 1.5 percent, industry reacts
The Reserve Bank of Australia (RBA) decision to keep interest rates on hold at the record low of 1.50 per cent at its first meeting of the year has come to no surprise to many pundits in the real estate industry. Real Estate Institute of New South Wales (REINSW) president John Cunningham was unfazed. “Housing affordability will be hotly debated…
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Finalists announced for this year’s Property Council Innovation and Excellence Awards
Some of the best buildings and brightest talents in Australia’s property industry will be honoured at the 35th Property Council of Australia/Rider Levett Bucknall (RBL) Innovation and Excellence Awards. 141 finalists were named ahead of the awards ceremony to held on May 5 at the International Convention Centre Sydney. Property Council’s Chief Executive, Ken Morrison said the awards, which is…
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Buyer’s agent Cohen Handler launches standalone auction bidding assistance
Bidding at an auction may now be less stressful for some Australian homebuyers with the launch of AuctionWiz, a new platform engineered by buyers’ agency Cohen Handler, providing standalone auction bidding assistance. Starting Monday, customers looking for representation from a buyer’s agent on auction day can sign up to AuctionWiz and connect with a Cohen Handler buyers’ agent for assistance…
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Melbourne-based agent applies to Guinness World of Record to be world’s first fastest selling agent
A Melbourne-based real estate agent has just applied to be recognised as the fastest selling realtor in the world by the Guinness World of Records. Zed Nasheet of LJ Hooker Hampton Park told Elite Agent that he had put in an application for the World Records’ feat two weeks ago after selling a three bedroom, one bathroom house in Victoria…
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Auction volumes double over the week, coming out of the seasonal slowdown
National auction clearance results week ending 05/01/2017 The auction market will start to gather momentum coming into February after the seasonal slowdown over the holiday period, with auction numbers doubling over the week across the combined capital cities. There were 867 auctions being tracked by CoreLogic this week, with a preliminary clearance rate of 70.8 percent, compared to last week’s…
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December building approvals fall: ABS
The latest building approvals data, released by the Australian Bureau of Statistics on Thursday, confirms that the housing market is very much a Sydney and Melbourne story. “Building approvals fell by 6.3 per cent in NSW, underwriting a fall in total dwelling units approved of 1.2 per cent over December 2016. Meanwhile, Victoria has sustained a small rebound in total…
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More dwellings key in tackling housing unaffordability
REA Group Property Demand Index for January, Key Points Sydney is on the road to a housing affordability crisis Tasmanian housing demand remains high resulting in strong price growth Demand levels on realestate.com.au are surging Challenging conditions remain in Western Australian and Northern Territory Housing unaffordability can be solved only if there are more dwellings available for people to chose…
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Rent.com.au’s new service Renter Resume a big hit among users
Since its launch 100 days ago, Rent.com.au Renter Resume has had more than 50,000 Australians signing up to use its service. Launched last October, the service allows users to create a rental profile, which then allows for the automatic generation of property enquiries and applications. Prospective renters can apply for a property while they are inspecting it with the click…
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Real Estate Agencies no longer in Fair Trading’s bad books
The New South Wales Fair Trading recently released its December 2016 Complaints Register, noting that for the first time in the register’s history there are no real-estate agencies on the list. Fair Trading publishes its Complaints Register monthly, listing businesses that are the subject of 10 or more complaints to the agency in the previous calendar month. Since the launch…
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ASX-listed buyMyplace wants to hire 100 real estate agents by year end
ASX-listed buyMyplace.com.au is on the lookout for 100 experienced real estate agents nationwide for a new section of its business which is similar to UK’s Purplebricks. The Melbourne-based company said the new hires would be used to sell properties listed on the website by vendors through a flat fee commission-based system. Melbourne-based buyMyplace executive director Cameron Fisher who will assume…
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The Agency Expansion Plans: Word of Mouth, Experienced Agents Only
Word of mouth. That is how “The Agency” say they are getting top agents in the Sydney real estate industry to join in their 18-month-old setup. Despite being fairly new on the eastern seaboard, many high profile agents in the business have been recruited by the Perth-based and ASX-listed Ausnet Financial Services for its new Sydney office, located at the…
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NZ Based Leaders Real Estate Group Rebrands To Ray White
In what is considered to be one of the major changes in the real estate industry across New Zealand, renowned agency local company in the local north island Leaders Real Estate Group is currently undergoing a rebranding to Ray White. The Leaders Group 15 offices placed across Wellington, Kapiti Mana, Horowhenua, Hutt Valley, Wairarapa, and the Hawkes Bay. The group…
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Core Logic: Strong Start To The Year As Dwellings Value Rise In Most Aussie states
The latest CoreLogic January index results have confirmed that all capital cities recorded a rise in home values, with Hobart in the lead, recording a 5.8 percent rise in dwelling values over the three months to the end of January – with Sydney and Melbourne also posting strong increases over the rolling quarter. Highlights over the three months to January…
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REIA calls for action on affordable housing and property taxation
REIA’s Pre Budget Submission to Government focuses on taxation as it relates to property and the need for a holistic approach and housing affordability including the need to address the rapid decline in the number of first home buyers. The Submission notes that dwelling investment supported by historically low interest rates has been a significant contributor to growth in the…
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CoreLogic Pain & Gain Report: September 2016 Quarter
The average profit on resale increases to $262,672 while average loss was $71,529 over the September 2016 Quarter, according to the latest CoreLogic Pain & Gain Report. The latest September 2016 quarter Pain & Gain Report produced by CoreLogic delivers a timely market analysis for residential property resales over the quarter by comparing the most recent sale price to its…
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Australia’s ideal home, consumers compromising location for land size: realestate.com.au
realestate.com.au revealed on the weekend what Australia’s ideal home looks like based on new consumer behaviour research. The great Australian dream of owning a quarter acre block is still aspirational for many Australians, despite rising house prices. The national average wishlist includes 4 beds, 2 baths, and 2 car spaces, on a 708 sqm block and is priced at around $520,000. “What this…
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Memo to the property industry: Get Ready for ‘Golden Week’ starting Jan 28
Despite the restrictions, there is still interest among the Chinese buyers wanting to purchase properties in Australia and most do so during Lunar New Year holiday period which starts from January 28. The celebration also marks the start of the period known as Chinese Lunar New Year Golden Week where Chinese workers often take holidays and head overseas some for…
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Virtual reality live-streaming the next best thing for property management?
Virtual Reality (VR) live streaming has helped one Melbourne-based property management company to achieve zero vacancy rates since switching to the technology over a year. Neesh Property managing director Michael Sanz describe the change as phenomenal for his business and wants to teach other agents on how to use the technology and achieve the same results. “Twelve months I bought…
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ASX-listed disruptor realtor buyMyplace records exponential Q2 revenue
ASX-listed buyMyplace, a commission-free real estate agency has recorded a strong second quarter by clocking in 147 percent in revenue earnings for the 2017 financial year ending in June from the prior corresponding period (PCP). The Melbourne-based online real-estate company’s gross profit rose by 117 percent while residential property listings on the website grew by 84 percent from the previous…
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Purplebricks may fail in Australia too, says First National Real Estate chief
The head of one of Australia’s largest networks believes that the arrival of Purplebricks in Australia has failed to ignite consumer interest and that the company is on track to replicate the significant losses incurred on its home soil. “Since its August 2016 launch, when more than a quarter of a million properties were listed for sale with Australian agents,…
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Australasian Real Estate Results Awards 2017 Finalists Announced
The top performing independent real estate agencies and individuals across Australasia have been revealed last week as finalists in the 11th annual Australasian Real Estate Results Awards (ARERAs), to be staged in Sydney next month. Hosted by the Real Estate Results Network (RERN), the ARERAs is the industry’s pinnacle awards event that recognises and celebrates the outstanding achievers in property throughout…
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State-by-State Round Up: Electronic Signatures, January 2017
The current waters are still a little murky in relation to the use of electronic signatures. According to white papers released by CoreLogic on the use of DocuSign, an electronic signatures software product, electronic signatures are legal in most Australian Jurisdictions. Rundl, powered by progressive law firm LawLab, already have clients transacting with electronic signatures across many of the Australian…
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Domain House Price Report: December Quarter 2016
National prices have increased over the quarter, although the annual growth rate is the lowest since 2012 – according to the latest quarterly Domain House Price Report. Over the quarter, median house prices increased in all capital cities, except Perth and Darwin. The national median house price increased by 3.4 per cent to $780,887, the strongest quarterly result since the…
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Domain Rental Price Report: December Quarter 2016
House rents have increased in most capitals, with the rental market outlook looking positive for investors – according to the December quarter Domain Rent Report. Median house rents increased in Sydney, Melbourne, Brisbane, Adelaide, Canberra and Hobart. The resource capital of Perth continued to remain the clear exception to the trend, with high vacancy rates and rents continuing to fall.…
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Rent.com.au launches an industry-first performance-based plan
In an industry ground-breaking move, Rent.com.au has launched their new product Smart Plan – a model to help maximise the advertising of your client’s rental properties, with zero risk, on Australia’s #1 website dedicated to rental property. Under Rent.com.au’s revolutionary ‘leased or free’ model (the Smart Plan), you can list your rental properties with the biggest ads on Rent.com.au with no upfront costs. Best…
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New homes sales record growths in all states except NSW
Sales of new homes and apartments have risen in November, said the Housing Industry Association (HIA) said in its latest report released on Friday. HIA’s new homes sales report which consists a survey of Australia’s largest home builders – shows a high bounce in November with sales of newly detached homes increasing by 5.2 percent, while sales of multi-units were…
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Reader Poll: Do you want the ‘right to disconnect’ from work?
The French government is implementing a new law that requires companies to negotiate the hours of their employees’ ‘right to disconnect‘. We wonder how this would work in the real estate context. Would you want the right to switch off from work?
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Australia’s home building activities to soar this year: Master Builders
Australia’s 2017 home building activities will go down as one of the best performing years in history with the peak likely to come before the end of the financial term, said Master Builders of Australia’s National Manager for Housing Matthew Pollock. “This would leave the possibility for a softer landing later down the track, with housing finance commitments and building…
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Shift to higher density living fuels market growth but renews concerns of glut
Lending approvals are up; New dwellings are up; High-density commitments are up. While there is no doubt that multi-unit construction remains the strongest performing sector of the industry over the past five years, there is continued speculation that the demand will not be sustainable. The Australian Bureau of Statistics (ABS) figures published on Tuesday reports that mortgage lending among investors in November had risen…
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Single home ownership among women has fallen, says ME Bank
More singles, especially women, are being squeezed out from home ownership, an analysis by super fund-owned ME Bank has revealed. The number of individual home loan applicants put forth with the bank had fallen by 9 points to 35 percent out of all loans over the past two years with home loan applications produced by women falling by 14 points…
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St George says Australians should be resolved to saving
New research commissioned by St George Bank in December had found that Aussies were a worried lot when it came to money matters and had put in plans to save more this year for an overseas trip and to buy a home. The research found that 70 per cent of the respondents interviewed by the bank had concerns for the…
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NAB raises its fixed home loans interest rates, follows in on rivals
One of Australia’s largest lenders, the National Bank of Australia (NAB) has raised the interest rates on several of its fixed-rate home loans, following its rivals. In a statement on Monday, the bank said its second, third and fourth-year package fixed rate for home loans would increase effective today, to 3.98 percent, 4.09percent, and 4.59 percent per annum respectively. While…
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Purplebricks opens offices in Sydney and Central Coast, plans expansion to Perth and Adelaide soon
Purplebricks has just opened up new offices in Sydney and the Central Coast, with plans underway to expand into Perth and Adelaide as well. The company’s latest set up in New South Wales (NSW) comes just four months after it opened offices in Brisbane, Melbourne, the Gold Coast and the Sunshine Coast. Established in the UK in 2014, Purplebricks has…
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Airbnb ventures into restaurant booking app Resy.com
New York-based Resy.com has just received a fresh round of funding worth $13 million from global accommodation portal Airbnb along with the participation of First Data Corporation, RSE Ventures, and Lerer Hippeau Ventures, technology website VentureBeat reports. Founded in 2014, Resy.com, is a restaurant booking platform which offers a consumer-focused mobile app that allows travellers to book tables at great…
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RBA may not lower the cash rate any further : RateCity.com.au
A growing number of economic indicators have suggested that the Reserve Bank of Australia’s (RBA) historically low cash rate of 1.5 percent would not go down any lower. Peter Arnold, data insights director at RateCity.com.au said banks were beginning to hike their home loan rates with close to two-thirds of lenders increasing rates on fixed loans and a smaller number lifting…
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