National
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REALABS: The Future of Property Technology
REA Group today announced REALABS, a purpose-built invention space in the heart of Australia’s tech hub, Richmond, designed to create, trial and bring to life the newest technologies for consumers to experience property. The new space will be dedicated to invention and innovation, housing a range of new technologies, including virtual reality, augmented reality, drones and robotics. REALABS will be…
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Captial City Auction Markets Record Highest Preliminary Clearance Rate This Year (23/10/16)
This week, CoreLogic are reporting the highest preliminary national clearance rate this year, reaching 80.2% over the combined capitals. The number of homes taken to auction this week increased to 2,641, compared with 2,443 over the previous week. The preliminary clearance rate of 80.2 per cent is the highest recorded for the year so far, up from 76.2 per cent…
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CoreLogic Property Pulse Market Update (w/e 20 September, 2016)
Market update (w/e 20 September, 2016) The Reserve Bank (RBA) released the minutes of their October monetary policy meeting earlier this week. At the meeting the RBA board decided to keep official interest rates on hold at 1.5%. The major points of note from the minutes were: GDP growth moderated in the June 2016 quarter however, it was higher than forecast…
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Investor housing demand rises as owner occupier fades, CoreLogic Research
Housing finance data for August 2016 was recently released by the Australian Bureau of Statistics (ABS). Over the month there was $31.4 billion worth of housing finance commitments which was -1.0% lower over the month and -5.1% lower than it was at its peak in April 2015. The $31.4 billion worth of commitments in August was split between $19.5 billion…
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Infrastructure Partnerships Australia discussion paper
The Property Council of Australia has welcomed the release of Infrastructure Partnerships Australia’s report “From Housing Assets to Housing People”. “The Property Council does not normally comment on public housing as our focus is on the broader issue of housing affordability and the operation of the housing market. However, it is clear that the funding of public housing is in…
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Chinese Buyers Increase Their Share of Australian Hotel Transactions, CBRE
Chinese investors have upped the ante in the Australian hotel sector, accounting for 42% of the $1.7 billion in hotel sales year-to-date according to new research from CBRE. CBRE Hotels Executive Director Robert McIntosh said the Australian hotel market was being increasingly targeted by Asian capital – with Chinese investors leading the charge. “Recent volatility in global equity markets, particularly…
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Clearance rates remain above 70 percent (W/E 16/10/16)
It has been another strong week for auction results, with a preliminary auction clearance rate of 77.9 per cent. There were 2,405 auctions held across the combined capital cities. Auction volumes still remain below levels of last year. The clearance rate has remained above 70 percent since the last w eek in July. Last week, the final auction clearance rate…
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Greg Dickason appointed CoreLogic’s International Chief Technology Officer
Greg Dickason has been appointed CoreLogic’s International Chief Technology Officer, reporting to the US CIO Bob Frosell. Greg has an international track record of delivering advanced technology and innovative products for the real estate sector, including the award-winning API that powers mobile apps as diverse as the Harcourts eOne App and Westpac Wonder. Greg has a passion for innovation and…
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Domain Rental Report September Quarter 2016
Domain reports that for the last Quarter, the rental market is fairly stable, with little to no fluctuation in rents for most capital cities. A key insight for the September quarter is national vacancy rates. Despite a glut of new developments in both Melbourne and Sydney, the national supply of rental properties is tight, with some markets recording just 0.6…
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RateCity quarterly rate review shows major movements in mortgage lending
According to RateCity’s latest Rates of the Nation report, the RBA’s 1.5% August cut has led to significant action within the mortgage and deposit spaces, yet little movement in credit card rates. Home loans: Now more than a year since the emergence of investor pricing and the ‘ideal borrower’ and the rate gap has continued to widen. Home loan rates have…
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Raine & Horne ramps up website following international property gong
The Raine & Horne website, rh.com.au, has been recognised as one of Asia’s best with an award at the 2016 Asia Pacific Property Awards 2016, held at the glittering Shangri-La Hotel, Kuala Lumpur, Malaysia, earlier this year. Bill Russell, Raine & Horne’s General Manager International, was on hand to collect the award, along with Ms Zaidatul Adawlyah Zaki of Raine &…
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Raine & Horne marks 40 years of franchise success
Global real estate Superbrand Raine & Horne will mark 40 years of franchising success on Wednesday 19 October with a celebration at its franchise flagship, Raine & Horne Liverpool. In 1976, led by former Chairman Max Raine, who enjoyed a 60-year career with the 133-year old firm, the Raine & Horne board determined to open a minimum of five franchise…
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Your Tenants Can Now Insure Their Rental Bonds
BONDSURE announces the launch of an innovative new financial product that provides renters with an option to pay rental bonds off in instalments while helping them to protect these bonds for the first time through a revolutionary new type of insurance. Tenants can apply online to have rental bonds up to $5,000 paid on their behalf by BONDSURE, to be…
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Abakus Apps announced 2016 MyBusiness Awards Finalist
Abakus Apps – a finance-based smartphone application that streamlines the property tax management process – has been announced as a shortlisted finalist in this year’s Optus MyBusiness Awards, for the category Fintech Business of the Year. Founded in 2015 by farmer turned emerging fintech entrepreneur Brenton Tidow, Abakus Apps launched to market less than five months ago, and is growing…
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Real VR: Next Gen Real Estate Marketing Has A New Home
Real VR, part of the global award-winning Start VR business, has just been launched to provide VR content creation and production services to an industry for which the technology is an obvious – but previously untapped – fit. Real VR is headed up by Jason Salter, formerly of Laing+Simmons and Ray White, whose 20 plus years’ project marketing experience and…
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Volumes rise and return a strong clearance rate (W/E 09/10/16)
After a relatively quiet weekend last weekend, volumes and clearance rates have risen substantially this week. There were 2,246 auctions held across the combined capital cities. The preliminary clearance rate was 79.2 percent this week, up from a final clearance rate of 75.8 per cent last week across just 872 auctions. This week four of the capital cities recorded clearance…
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RE/MAX Attends AU-NZ Broker Owner Forum in Bangkok
RE/MAX Australia and New Zealand franchise owners plus agents and other directors have recently returned from Bangkok having attended the RE/MAX Australia-New Zealand Broker Owner Forum, and the Asia-Pacific Convention. More than 300 delegates representing all 15 countries in the Asia-Pacific region – Australia, New Zealand, Thailand, Indonesia, Singapore, Philippines, Guam, Korea, China, Japan, India, Sri Lanka, Mongolia, Malaysia and…
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Roy Morgan Research: Over 300,000 mortgage holders have little to no equity in homes
Overall some 6.8% (311,000) of mortgage holders in Australia have been identified as having little or no real equity in their home. This is based on the fact that the value of their home is only equal to or less than the amount they still owe, placing them at considerable risk if they have to sell or prices decline. This…
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Century 21’s Famous Gold Jacket Tickled Pink for Pink Ribbon Campaign
The world’s most recognised real estate jacket is turning pink for the month of October in an initiative aimed at raising awareness and funds for Cancer Council’s ‘Pink Ribbon’ campaign. For the third year running, Century 21 agents across Australia and New Zealand will be seen at auctions, open homes and around their local communities wearing limited edition pink jackets,…
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realestate.com.au moves into virtual reality
Australian property seekers and daydreamers will soon be able to explore their dream home in virtual reality through realestate VR, realestate.com.au’s virtual reality property app, coming soon to Android mobile devices. realestate VR will allow people to tour through a property from the comfort of their couch via their virtual reality device, offering a new and exciting way to experience…
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Starting young: Schools Auction Idol in SA teaches students about the art of auction
Raising the profile of the industry in the community, Schools Auction Idol teaches high school students about real estate via the ‘art of auction’. The Schools Auction Idol program is on the brink of achieving its 10th year of operation, and it is slowly but steadily growing: in September 2015, the Inaugural Australasian Schools Auction Idol Championships was held at…
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Auction volumes fall but clearance rates remain steady (W/E 02/10/16)
There was a substantial drop in auction numbers this week due to the grand finals and the Labour Day long weekend. 853 properties were taken to auction last week, with a preliminary clearance rate of 77.5 percent, compared to the same time last year when there were 865 auctions were held, with a clearance rate of 68.2 per cent. In…
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RBA set to continue rate-holding pattern, say RateCity
To view the full-size infographic, click here. The RateCity.com.au analysis of over 30 key economic indicators suggests rates would remain on hold at 1.5% for the second consecutive month. Peter Arnold, data insights director at RateCity.com.au, said Australia’s GDP is growing and, domestically, iron ore prices have continued their winning streak. “Australia’s economy grew by 3.3 per cent over the…
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CoreLogic Home Value Index September 2016
Capital city dwelling values increase by 1.0% in September to be 2.9% higher over the quarter, according to CoreLogic’s Hedonic Home Value Index for the month, taking the current growth phase into its 52nd month. Capital city dwelling values continued to show a strong headline rate of growth over the September quarter, with the CoreLogic Hedonic Home Value Index rising…
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Sixteen New Offices Open With Century 21
Century 21 has recently added sixteen new offices in locations across Australia and New Zealand, further enhancing the strength of the group’s Australasian network. Six new offices have opened in New South Wales, two new offices in Victoria, two new offices in Queensland, one office in Western Australia, one in South Australia, one in Tasmania and three in New Zealand.…
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Have you got what it takes to be on the REI Super Board?
The superannuation fund for the real estate industry, REI Super, will be holding elections for four positions on its board of trustee directors next year. The call for nominations will be made in June 2017 and the elected directors will take office on 1 October 2017. There are ten directors of REI Super’s Trustee company. Eight are elected by members…
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Juwai.com hires three new execs in preparation for IPO
Juwai.com, the largest Chinese international real estate website, has announced the appointment of a new CFO, new Head of Australia & New Zealand – Residential, and new Head of China Engagement. The new hires will help it manage its rapid growth as it prepares for an IPO on Australia’s ASX in the coming year. Tracy Wu, Head of China Engagement…
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Home Addressed announces 30 Day Home Co-ownership Challenge
The 30 Day Home Co-ownership Challenge, by Home Addressed, is designed to inform and teach first home buyers to take a creative approach to home ownership and to shrug off the ‘generation rent’ tag. Buyers wanting to participate will need to find a suitable co-buddy with whom to team up and buy a property. The co-partners have 30 days to meet on the…
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Eastern Seaboard States Drive Population Growth
The latest ABS demographic statistics released show the annual rate of population growth held steady at 1.4 per cent in the first quarter 2016, however the wide divergences between the states and territories remained, said the Housing Industry Association (HIA), the voice of Australia’s residential building industry. The ABS figures confirmed that Australia’s population broke through 24 million during first…
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Chinese investors shop online for property with estarhome.com
Chinese organisation, the Fosun Group, has designed an online shopping-style platform that allows middle-class Chinese investors who are seeking a safe haven, outside of China, to purchase an overseas property. The site, Estarhome.com is an online-to-offline service that provides a way for Chinese investors to find Australian properties as investments. Chinese buyers are investing mostly in new apartments and according…
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Preliminary clearance rates remain above 70% for the 9th consecutive week (W/E 25/9/16)
It has been another strong week for auction activity, there were 2,445 auctions held across the combined capital cities with a preliminary auction clearance rate of 78.3 per cent this week. Last week, the final auction clearance rate was recorded at 76.2 per cent with 2,149 residential properties taken to auction. At the same time last year, auction volumes were…
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Domain Group continues its expansion into Geelong
Domain Group has continued its rapid push into Geelong with the launch of a new free weekly real estate magazine that will also be inserted into copies of The Age and The Australian Financial Review in Geelong. The new Domain Geelong magazine will have a circulation of 65,000 copies, more than twice the nearest competitor, will be distributed to every…
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Domain brings real time chat to the world of property
Potential buyers and renters will now be able to chat directly with real estate agents with the launch of Domain Chat, a new app feature released by Domain that speeds up the search and is supposed to help consumers secure their dream home faster. Chat has been one of the fastest-growing online behaviours on the internet, nearly doubling users over the…
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Richardson & Wrench goes social in new brand campaign
The Richardson & Wrench network has begun rolling out a new national brand campaign aimed squarely at leveraging the power of social media. The multi-platform campaign running across social media and digital platforms, is a 40-episode series of snackable videos as its centrepiece complemented by targeted distribution marketing. R&W Group Development Manager Amanda Ward said the group had adopted an “always-on”…
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Auction clearance rates and activity increase slightly – WE180916
This week’s (week ending 18 September, 2016) preliminary auction clearance rate saw the combined capital city clearance rate rose this week, from 75.4 per cent last week to 77.9 per cent. At the same time last year, the clearance rate was 69.9 percent. So far this week according to auction results having been reported to CoreLogic, there were 2,093 capital city auctions…
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