National
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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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Amazon Prime announces July premiere for real estate docu-series Luxe Listings Sydney
Production has commenced on an unscripted docu-reality series about the Sydney real estate scene.
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Clearance rate inches higher after busy auction week
Auction volumes were down slightly on last week, but the preliminary clearance rate inched higher to 79 per cent, after 2892 properties taken to auction across the combined capitals. In comparison, the previous week saw 3016 homes taken to auction, returning a preliminary auction clearance rate of 78.6 per cent, which revised down to 77.2 per cent at final figures.…
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Australia’s residential construction costs rose less than one per cent in March quarter
Construction costs increased by less than 1 per cent in the first three months of 2021, according to CoreLogic’s first Cordell Housing Index Price (CHIP) for the year.
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Social and affordable housing the focus in Budget reply speech
Labor would spend $10 billion on social and affordable housing over five years if elected to government at the next federal poll, Anthony Albanese told Parliament on Thursday night.
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Key industry groups respond to big-spending Federal Budget
As the dust settles on the 2021-22 Federal Budget, some of Australia's key industry groups have weighed in with their responses.
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A Budget right for its time
There’s plenty for the property industry to like in the 2021 Federal Budget, not because of any specific measure but in the myriad provisions to keep cash and confidence flowing in our pandemic-constrained economy.
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Second busiest auction week of the year
This week proved the second busiest auction week of the year, with 3033 properties taken to auction across the combined capital cities.
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Canberra auction clearance rates reached record high in April
Domain has released its Auction Report for April, showing clearance rates in Sydney and Melbourne have declined slightly after the multi-year highs of the previous month.
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Slight drop in auction volume and clearance rate
This week CoreLogic reported there were 2041 capital city homes taken to auction resulting in a preliminary clearance rate of 78.5 per cent.
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Extension of HomeBuilder construction start welcomed
The Federal Government’s weekend announcement that the construction commencement requirement for the HomeBuilder has been extended has been welcomed by industry groups. On Saturday, the Government announced an extension from six months to 18 months for the start of construction for all existing applicants. The changes will bring the total level of expected Government support for the construction sector under…
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