National
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National auction volumes remain steady despite drop in Sydney
The preliminary auction clearance rate has risen to 76.4 per cent this week, with volumes remaining relatively steady despite a 17 per cent drop in the number of predicted auctions in Sydney.
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CoreLogic investigates how the housing market reacts to lockdowns
CoreLogic has released a comprehensive overview of housing market performance through lockdowns.
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Herron Todd White issues ‘half time’ property market score for 2021
Herron Todd White (HTW) has issued their ‘half time score’ for the property market in 2021, with their June Month in Review highlighting ‘mostly robust property markets across the nation’.
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REA reports home sales increased by 60 per cent in June compared to previous years
Property sales have remained steady and are over 60 per cent higher than in 2020 and 2019, according to a new report from the REA.
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Just 19 per cent Australians think you can buy a house for the listing price
Prospective homebuyers think they should brace themselves to pay more than the asking price, says new Finder research. A national survey of 1012 respondents found just 19 per cent of Australians agree that houses sell for the price they are listed for. The research revealed 70 per cent expect property to sell for more than what the seller asks. One in…
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Experts weigh in on the Reserve Bank of Australia’s rate-hold
On Tuesday afternoon, the Reserve Bank of Australia (RBA) announced the official cash rate was on hold, to mixed reactions. Economists and industry leaders have weighed in on the RBA’s announcements on social media, with many using Twitter to share their opinions. Economist and Monash University lecturer, Dr Isaac (Zac) Gross says the under-covered aspect of the RBA is the…
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Richard Matthews Real Estate gets behind Beyond Blue
Richard Matthews Real Estate director and auctioneer Matthew Everingham has announced a fundraising collaboration with Beyond Blue.
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Cash rate remains on hold, but RBA eases up on bond buying
The Reserve Bank of Australia has left the official cash rate on hold at its July meeting, but signalled it intends to wind back its bond buying program as Australia transitions from “recovery to expansion”.
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Rental vacancy rates hit a milestone low
New Domain data shows national rental vacancy rates are the lowest on record.
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Interest rates predicted to hold but will property prices peak this year?
The non-stop rise in house prices may hit an apex this year, according to the latest expert housing predictions from Finder.
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Leak repair specialists Megasealed celebrate 25 years of business success
A business which services the real estate and strata industries with repair solutions for leaking showers and balconies is celebrating 25 years in operation.
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Property Council welcomes projected pathway out of COVID-19
The Property Council of Australia has welcomed National Cabinet's agreement of a four-phase pathway out of the pandemic based on vaccination thresholds being met and other key settings.
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Investor housing loan commitments rise
The latest Lending to Households and Business figures show the value of new loan commitments for housing increased again in May with investors back in force.
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Productivity of our large cities is at risk due to unaffordable housing
Economic growth and productivity in Australia's largest capital cities appears to be slowing, says new research.
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Auction volumes and clearance rates dip due to COVID uncertainty
The preliminary clearance rate came in at a lower 73.6 per cent this week after the volume of auctions dipped slightly due to COVID lockdowns in multiple Australian states.
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Australian dwelling values finish the financial year 13.5 per cent higher
National home values rose 1.9 per cent in June, taking annual growth to 13.5 per cent for the financial year.
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Property industry confidence remains robust but housing affordability concerns increase
Property industry confidence levels remained close to recent record highs as the sector continues to lead Australia’s economic recovery from the COVID-19 pandemic. The results of the latest quarterly ANZ and Property Council survey showed confidence within the property industry (which employs 1.4 million Australians) would be critical to the rebound from the current COVID-19 outbreaks. The survey found that…
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Family Home Guarantee and First Home Loan Deposit kicks off around Australia
Two highly anticipated government initiatives started 1 July, designed to provide Australians with a more secure future, but not everyone is guaranteed to be a winner. The Family Home Guarantee and First Home Loan Deposit scheme have each offered 10,000 new spots to eligible lower income Australians. But financial comparison hub RateCity warns consumers to check the fine print for…
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Knight Frank research reveals promising luxury real estate trends
Australia’s major cities saw their highest quarter of prime residential sales volume on record. At the same time, the number of days a prime property was on the market compressed by almost a week, indicating there’s still more steam in the prestige market ahead, according to Knight Frank research.
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Course gives tenants skills to succeed and eases property managers’ pain points
An innovative tenancy skills program that equips tenants with the skills they need to maintain a successful tenancy and eases property managers’ pain points is being rolled out in Australia’s eastern states. The Tenancy Skills Institute program is already available across Queensland and is making its way into New South Wales and Victoria. The training package is available as a…
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Most investment properties no longer require physical inspections
Analysis by quantity surveyors, Washington Brown, has found more than 82 per cent of investment properties do not require a physical inspection to achieve the maximum depreciation. The company assessed 15,370 individual investment properties in Sydney over the past year since the pandemic and found 12,698 – or 82.6 per cent – of properties did not require a physical inspection…
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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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