National
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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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Reader Poll: How are you feeling about the market heading into 2017?
Are you optimistic about your market and success in 2016? Let us know. View Survey
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Sydney and Melbourne records lower sales this year: REA
Highlights of REA Group Property Demand Index Report for December 2016: National demand for property dropped by 6.6 percent on realestate.com.au in December, down from peak levels recorded in October and November. Victoria had the largest decline over the month, as demands dip for both houses and apartments. New South Wales (NSW) followed closely, possibly suggesting that the housing boom…
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REA Group to buy stake India’s PropTiger and Housing.com
REA Group have agreed to buy a 14.7 per cent stake in Indian online real estate marketing group PropTiger for $67.9 million. PropTiger.com and Housing.com, two of India’s leading online real estate service providers, in a seperate announcement said the investment will enable it to become India’s largest online real estate services company in the near future. Under the agreement,…
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Research shows “The Block” and “House Rules” inspires more Aussies to renovate their homes
Research from Roy Morgan has revealed that the number of Australian homeowners refurbishing their properties has skyrocketed in the last three years, all thanks to the influence of popular home improvement programs such as the “Block” and “House Rules”. Close to 8.4 million or 62 per cent of Australia’s 13.6 million proud homeowners have renovated in the last 12 months…
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Investorist helps Melbourne-based developer sell $12m worth of apartments in 15 minutes
A Melbourne-based developer has racked up over $12 million in apartment sales in just 15 minutes after using an online platform known as Investorist. The new Blackburn Boutique Apartments at East End in Blackburn South situated near Monash and Deakin universities in Melbourne were snapped up within minutes without the developers having resort to traditional real estate marketing campaigns. Investorist…
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iProperty Group announces Haresh Khoobchandani as General Manager in Malaysia and Singapore
REA Group today announced the appointment of Mr Haresh Khoobchandani to the role of iProperty Group General Manager, Malaysia and Singapore. He will commence the role on 12 January 2017. Mr Khoobchandani has more than 20 years of sales, marketing and leadership expertise, with extensive experience within the Asia Pacific region. Previously, Mr Khoobchandani was GM Microsoft Business Solutions for…
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Stamp duty breaks for older empty nesters will help solve second home buyer dilemma
A stamp duty break for empty nesters aged over 70 could ease housing affordability stresses in Sydney and Melbourne, according to Angus Raine, Executive Chairman, Raine & Horne. “The national housing debate focuses mostly on first home buyers, and with good reason given climbing real estate values combined with an ongoing shortage of new homes,” said Mr Raine. Sydney housing…
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CoreLogic: Capital city dwelling values experience highest growth rate in seven years
Highlights over the three months to December 2016 Best performing capital city: Darwin +5.9 percent Weakest performing capital city: Adelaide -1.6 percent Highest rental yields: Hobart houses with gross rental yield of 5.1 percent and Hobart Units at 5.7 percent Lowest rental yields: Melbourne houses with gross rental yield of 2.7 percent and Darwin units at 3.6 percent Most expensive…
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Supercharge your results this year with Tom Panos and John McGrath as your mentors for 2017
Two of Australia’s most respected real estate coaches are teaming up to deliver a specially designed ‘boot camp’ that is committed to helping real-estate agents achieve exponential results by giving them proven formulas that work. Tom Panos, who is arguably Australia’s most popular real estate coach and trainer will be teaming up with property legend John McGrath of McGrath Estate…
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Bondsure records high uptake, just weeks after its launch
Bondsure, an insurance company that provides tenants with an option to pay their bonds on an installment basis been making waves within the real estate industry 10 weeks after its launch in October. The product which is specifically aimed at Australia’s growing tenancy market has had over 80 real estate offices signing up to use its services with more expected…
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Raine & Horne reacquires its South Australian operation from long-time franchisees
In a bid to strengthen its presence in South Australia, Raine & Horne had reacquired its real estate business from long-term franchise holders, Chris and Sue Weston for an undisclosed sum late last year. The husband and wife team who has been operating the group’s franchise since 1996 is the latest business to be reacquired by Raine & Horne after…
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realestate.com.au welcomes EnergyAustralia to Connection Services
Connection Services by realestate.com.au, an online solution helping movers to easily connect with utilities and telecommunications providers, has now welcomed EnergyAustralia to its list of energy providers. EnergyAustralia joins AGL and Origin as utilities providers on Connection Services, giving Australian movers more choice than ever before. Movers that select EnergyAustralia for Electricity or Gas will have their services supplied under…
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Seller Hub by realestate.com.au opens for inspection
Seller Hub, a new dedicated space on realestate.com.au, aims to give consumers access to the best information and insights before their property goes under the hammer. The new Seller Hub is designed to help make the selling process easier for consumers, by arming them with relevant tools to help with a successful sale. In Australia alone there are 1.2 million…
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realestate.com.au moves into the mortgage space
realestate.com.au and National Australia Bank (NAB) have today announced a five-year strategic partnership that will transform the property buying experience for Australians. As part of the experience, consumers will be able to access a suite of NAB home loans, a realestate.com.au branded white label product, as well as a panel of other lenders. “We know that Australians are property obsessed,…
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Clearance rates remain above 70 percent on tapering volumes (18/12/16)
The final week of auction reporting for the year sees the combined capital city clearance rate remain above 70 percent, while auction volumes continue their seasonal taper Auction activity continued to ease this week after a surge in auctions over the past four weeks. The combined capital city clearance rate fell slightly to 70.5 percent, down from last week’s 71.6 percent.…
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REA Statistics show Australia is obsessed with property
Australia’s obsession with property has continued this year with realestate.com.au revealing their statistics for the year. A single realestate.com.au user viewed more than 17,000 unique property listings this year, almost 50 per day[1]. 6.5 million visits to property listings on realestate.com.au on average every day[2]. 110 million hours spent looking at property and news on realestate.com.au so far in 2016[3].…
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Property owners celebrate an early Christmas with $35,000 win: LJ Hooker
A Bermagui couple is celebrating Christmas early after walking away with a $35,000 travel voucher as winners of the LJ Hooker network’s spring marketing campaign. Every property owner and landlord that had a market update with LJ Hooker over spring 2016 went into a draw to be the randomly selected person to spin the network’s Million Dollar Prize Wheel. Gordon…
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Property prices reflecting state economies: REIA
REIA has released the REIA Real Estate Market Facts for the September quarter 2016 which shows that the weighted average capital city median price increased by 1.4% for houses and 1.6% for other dwellings. “The weighted average median house price for the eight capital cities is now $712,776. Reflecting the differing fortunes of state economies, over the quarter, the median…
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Stamp duty a significant cost barrier for Sydney and Melbourne markets: CoreLogic
Higher priced properties in Sydney and Melbourne is not the only obstacle stopping people from entering these markets. Varying from state to state, another factor contributing to the high entry cost to housing is Stamp Duty, particularly in Australia’s largest two capital cities. CoreLogic Head of Research Tim Lawless said, “Calculating how much stamp duty is applicable on a property…
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