National
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New Intergenerational Report indicates COVID-19 will have lasting impact on the economy
The Australian Government's Intergenerational Report was released on Monday, with the Property Council of Australia describing it as a ‘wake-up call’.
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PropTech Group to buy Eagle Software as part of growth initiative
PropTech Group has agreed to buy Eagle Software for $7.5 million as part of its objective to own and operate property technology businesses in the Australian, New Zealand and United Kingdom real estate markets. Under the agreement the payment will include $4.1 million in cash and $3.4 million in scrip. It forms part of a wider, $17.5 million equity raising…
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Victorian and WA markets show impressive sales trends
Online offer management system Market Buy has reported solid sales trends across the country, with properties selling for up to $29,500 more in the June quarter compared to its March counterpart.
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Sydney holds firm despite lockdown, Melbourne enjoys second busiest auction week of the year
Melbourne has enjoyed its second busiest auction week of the year, but all eyes were on Sydney this weekend after the announcement of snap lockdowns in four local government areas.
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Profit-making resales jump thanks to hot property market
The number of home owners selling their property at a profit jumped in the March 2021 quarter thanks to the record run for property prices.
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Propic and MRI Software join forces to bring conversational AI to property managers
Conversational artificial intelligence (AI) will be used to improve the customer experience and potentially save property managers from burnout, courtesy of a new deal between Australian PropTech startup Propic and MRI Software.
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REIA urges Australians to use deposit schemes
Thousands of Australians have been given their first real chance to buy their own home.
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The hot new search term for homebuyers
The world has changed dramatically over the past 18 months and as a result, the types of homes people are wanting to buy has also seen a dramatic shift. According to realesate.com.au, the most popular search term is now ‘study’, indicating that many people are clearly changing the way they work and live. With lockdowns continuing to wreak havoc in…
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Over three-quarters of auctions successful this week
Over three quarters of auctions proved successful this week after 2418 properties were taken to auction, resulting in a preliminary clearance rate of 77.8 per cent. CoreLogic noted the volume was again down on numbers predicted earlier in the week, revising down from 2610 with the majority of that drop occurring in Melbourne. Of the 1955 results collected so far,…
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Over 200 markets now in the million dollar property club
With property markets running hot across the country, a new report has highlighted that there are now 218 million-dollar areas across Australia.
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New listing volumes remain high despite fall in May
After a significant lift in volumes earlier this year, new listings fell for the second consecutive month a new report shows. While the rise in listing volumes earlier this year helped supply meet record-high buyer demand, the REA Insights Listings Report June 2021 showed a 4.4 per cent decline in May. Despite the slight drop in May, new listing volumes…
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Boom in Aussies buying up restaurants, pubs, hotels and bars in regional centres
With international borders closed, regional Australia is seeing a dramatic surge in popularity. More people are moving out of the cities and into quaint communities. City slickers are looking for new careers and business opportunities, with regional Australia being bought up at record pace. Manenti Quinlan and Associates Director Leonard Bongiovanni said city residents are being wooed by the “fresh…
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Australia’s residential development market falls to a seven-year low
Just $4 billion of total residential site sales were recorded in 2020. It was well below the 2014 peak of $11.3 billion, according to Knight Frank’s Australian Residential Development Review 2021. The review also found the national apartment pipeline will drop over the next three years, with just 86,400 new apartments planned across Sydney, Melbourne, Brisbane, the Gold Coast and…
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Largest total value rise on record for residential dwellings
The total value of residential dwellings in Australia now exceeds $8 trillion, according to the Australian Bureau of Statistics (ABS). The ABS found the total value of Australia’s 10.6 million residential dwellings rose by $449.9 billion to $8,293.2 billion in the March quarter 2021. This was the largest rise on record for the ongoing study, which looked into the value…
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Auction volume down but clearance rate up over long weekend
Auction volumes were again lower than predicted this week, but CoreLogic noted the preliminary clearance rate enjoyed a slight rise.
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New home sales strengthen in May
The Housing Industry Association (HIA) revealed there has been a 15.2 per cent increase in new home sales between April and May.
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Australian property is selling faster than ever
Demand for property across the country is higher than ever with the average days on market tumbling last month.
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Female real estate agents sweep the REIA awards
The winners of the 2021 Real Estate Institute of Australia National Awards for Excellence have been announced. Female real estate agents swept the board, winning eight out of 11 of the individual agent categories. REIA President Adrian Kelly said that from the 83 finalists there was an increase in female candidates in the different categories from previous years. OBrien Real…
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Australian homes selling faster than ever
New statistics reveal properties across Australia sold at record speed in May. The REA Insights Housing Market Indicators report showed the average number of days on-site fell to a historical low of 32 last month. The June 2021 report combined eight key metrics to provide an up-to-date view of the property market and emerging trends. These metrics include search activity,…
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Two Australian cities listed in the top five for entrepreneurial success
Sydney and Melbourne have been highlighted as two of the best cities in the world for aspiring entrepreneurs to start their own business.
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Herron Todd White names potential growth hotspots
For every Bondi Beach, there are dozens of other suburbs that don’t have the same notoriety, yet have the potential for incredible growth. Herron Todd White has compiled its list of ‘unsung hero hotspots’, which are suburbs that might not get as much attention as their famous neighbours, but are ripe for growth in an already strong property market. NSW…
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House prices soar at highest quarterly rate in 10 years
Property prices have increased at the highest quarterly rate in a decade a new report has found, with Sydney still the most expensive capital city to buy a house in. The latest Real Estate Institute of Australia Real Estate Market Facts report shows that the weighted average capital city median price increased by 6.8 per cent for houses and by…
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SA sees massive increase in buyers from interstate
Real Estate Institute of South Australia Chief Executive Officer Barry Money says that REISA’s statistics reveal a sizeable lift in the number of residential properties purchased by buyers whose primary address is outside of South Australia. “We compared the numbers in our own unique data set from January through April with those from the same first four months of 2020,…
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Three-quarters of real estate agencies now more profitable than in 2020
More than two-thirds of Australian and New Zealand residential real estate agency office principals are personally taking home higher earnings in 2021 than in 2020, according to a new survey by Juwai IQI. An even higher share of offices – three-quarters – are more profitable today than in 2020, the survey found after interviewing the principals of the 29 offices…
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REIA to host ‘getting real’ policy forum to address housing issues
The Real Estate Institute of Australia (REIA) will meet with key political and industry leaders in Darwin on June 9 to present Getting Real, REIA's 2021 Strategic Policy Forum sponsored by realestate.com.au
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Auction volumes below predictions due to Melbourne’s lockdown
Auction volumes dropped below the number previously predicted this week, with 2691 properties going under the hammer across the combined capitals
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May the busiest auction month on record: Domain
May was the busiest auction month on record, according to a recent report by Domain.
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Home loan commitments hit record high
Owner-occupiers are fuelling a record high level of new loan commitments for housing.
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Australian residential property values rise by 2.2 per cent in May
Housing markets continued to surge throughout Australia in May, with CoreLogic's national Home Value Index rising by 2.2 per cent over the month.
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Top 10 takeaways from AREC 2021 – Day 2
A host of great insights and takeaways were on offer on Day 2 of AREC 2021. Here are our top 10 takeaways...
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Third busiest auction week of the year, despite Vic lockdown
Despite the announcement of a snap lockdown in Victoria, this week proved the third busiest auction week of the year, with 2930 properties going to auction across the combined capitals, resulting in a preliminary clearance rate of 75.7 per cent.
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Second place worth celebrating at Harcourts Australia’s awards night
Harcourts Australia had plenty of reasons to celebrate over the weekend. In addition to the company hosting its annual awards night on Saturday, the group also announced it is now the second-largest real estate group in the country.
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Auction volumes and clearance take a minor dip
Both auction volumes and the preliminary clearance rate took a minor dip this week, with 2845 homes taken to auction across the combined capitals, resulting in a success rate of 78.2 per cent.
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Regional rent prices rise at three times the rate of capital cities
Rental prices in Australia’s combined regional markets have increased by almost three times the rate as capital city markets over the past year.
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Industry heavyweights Rise to the challenge of mental health
Nine out of ten real estate agents in Australia experience high stress at work, and 65 per cent of those agents say that stress has led to mental health issues.
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