National
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Real Estate Results Network 2016 Award Winners
Top performing independent real estate agents from the Real Estate Results Network (RERN) in Australia and New Zealand were celebrated at the 11th annual awards (ARERAs) held in Sydney on Monday night. This year’s ARERAs were strongly contested, seeing between five and nine finalists vying for the top honour in many of the individual and agency categories. The Roaring Twenties-themed…
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Fairfax set to spin off Domain
Updated: 11.45 am 22 Feb Fairfax confirms spinning off Domain. Here is what we understand so far. On Wednesday morning the AFR (a Fairfax Media owned newspaper) confirms that its parent company was considering spinning off Domain real estate advertising business into a separate entity. Details of the Domain spin off have sent Fairfax shares up by 9 percent to…
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Auction volumes surge past 2000 across the country for the first time in 2017
Auction volumes surge past 2,000 for the first time this year across Australia’s combined capital cities, with CoreLogic’s preliminary clearance rate reaching 77 percent. National auction clearance results for the week ending 19/02/2017 courtesy of CoreLogic The combined capital city preliminary clearance rate remained in the high 70 percent range over the week, despite auction volumes reaching the highest level so far this…
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RE/MAX rewards its best of 2016 in a gala event
RE/MAX Australia announced its top performers for 2016 at a gala event held at Brisbane City Hall this month (16th February) and celebrated an exceptional year of growth and innovation. Keeping with tradition, the network’s ultimate individual honour, The Eagle Award, was the final announcement for the evening, with Murray Carter, broker-owner of RE/MAX Regency the 2017 recipient. RE/MAX Regency…
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Penrith’s Mooney Real Estate creates brand awareness by helping local schools
The high cost of advertising with traditional media such as print and radio advertising has forced one startup real estate agency in Western Sydney to think out of the box. Out of frustration, the newly set-up Penrith Mooney Real Estate agency has come up with a clever approach in promoting their business through a community-based program known as the “Schools…
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Survey finds one in four Australians homes are already “smart”
A recent study has found that one in four Australian homes are already considered smart homes, or dwellings where occupants can control the functions of the house with a tap of a smartphone or a computer saving energy and money. In a recent survey commissioned by ServiceSeeking.com.au, they have found that more people are turning their homes into smart dwellings…
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Andrew Crauford appointed as Ray White NSW new Sydney Metro chief
After seeing exponential growth in 2016, Ray White NSW has announced that Andrew Crauford has assumed the position of CEO – Sydney Metro. Mr Crauford’s new role will see him take charge of the southern, western and northern Sydney suburbs, outside of the inner-city markets, to ensure Ray White businesses are operating at their optimum. “I’ve got the utmost respect…
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US portal Zillow goes inside celebrity couple’s love nests for V-Day
In honour of Valentine’s Day, Seattle-based real estate marketplace Zillow has gone inside the homes of some of Hollywood’s most sought after celebrity couples who had recently put their properties up for sale to replenished them with new dwellings. Among them is one of Hollywood’s most powerful couple, Kurt Russell and Goldie Hawn who recently listed their Los Angeles mansion…
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REA Group Posts Strong H1 Result for Investors
Last week, REA Group announced its results for the half year ended 31 December 2016. Financial Highlights, despite lower total listing volumes overall, include: Revenue growth of 16% An increase in EBITDA of 13% Interim dividend of 40 cents per share, up 11% The revenue growth is attributed to a 13% increase in the Australian residential business, plus inclusion of iProperty revenue,…
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Coldwell Banker gives away free perfume and red roses on Valentine’s Day
Coldwell Banker South West Realty in Wattle Grove is giving away a small bottle of perfume, and a single red rose to anyone that says the words “I Love Coldwell Banker” at their office premises on Valentine’s Day. The freebies are limited and would only be given out to those visiting the agency between 10 am and 4 pm. The…
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Preliminary clearance rates surges to 76.6% as auction numbers trend higher
It has been a strong week for auction activity across the capital cities, with the number of auctions more than doubling compared with last week in Sydney and Melbourne. National auction clearance results for the week ending 12/02/2017 courtesy of CoreLogic Despite the surge in the number of auctions held, the combined capitals regions recorded a preliminary auction clearance rate of 76.6 percent,…
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Key school catchment zones record more than 5x growth of capital cities: Domain
Annual house price growth figures in key government school catchment zones are outpacing capital city growth by more than five times in some key areas, according to Domain’s Annual School Zones Report. With the new school year just underway, Domain last week released its Annual School Zones Report, uncovering the primary and secondary government school catchment zones that have experienced…
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Residential builders off to a strong start, says Masters Builders Australia
Building activity for the year particularly for home building businesses is set for a strong start, says the latest survey commissioned by Masters Builders of Australia. The Master Builders National Survey of Building and Construction said the survey findings painted a positive outlook at the national level reflecting the record building approvals and housing loans approved in 2016 with over…
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New home sales bounces back: HIA
New home sales have bounced back particularly at the tail end of last year, as the latest survey commissioned by the Housing Industry Association (HIA) has revealed. “New home sales hit a two-year low in October last year, but recovered well in November and December,” HIA chief economist Dr Harley Dale said. “The late 2016 results were strong for the…
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Where do properties sell fastest in Australia, CoreLogic Property Pulse
Melbourne properties sell the fastest of any capital city according to CoreLogic’s latest Property Pulse Market Update report. Melbourne dwellings took an average of 35 days to sell in December 2015 with the figure falling to an historic low of 29 days at the end of 2016 while the typical Sydney dwelling sold after an average of 33 days in…
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LJ Hooker encourages lifelong training for its real estate agents via new software
LJ Hooker will invest $100 million in the next three years to accelerate the real-estate industry’s digital transformation with a mission to turn Australia into the world’s most advanced and well-served property market. The initiative will kick start with the unveiling of LJX-Lab, a digital research and development vehicle which they say will foster innovation through identifying, incubating and commercialising…
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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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