National
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Why your profit has disappeared
Why self-interest and an over simplification of how real estate agency's make money has caused profit to dry up in today's real estate industry. There are three good indicators you are making a record profit. You have recorded settlements beyond your own expectations, and not increased your cost base, you have larger cash reserves than…
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Expats set to lose their CGT exemption
Australian residents living overseas will now lose the capital gains tax (CGT) exemption on their family home after new laws were passed by Parliament. The new changes mean that foreign residents who don’t file income taxes will now be forced to pay capital gains tax when they choose to sell the family home. Previously the family home wouldn’t have attracted…
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Melbourne and Sydney dominate luxury price growth
Luxury residential price growth in Australia is highest in Sydney and Melbourne, according to the results of the Prime International Residential Index (PIRI 100) in Knight Frank’s The Wealth Report 2020, released today. The PIRI 100, which tracks the movement of luxury residential prices in 100 cities and second home markets globally between December 2018…
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Farewell to Jock Kreitals, CEO REIA
REIA CEO Jock Kreitals is set to bid farewell after five years at the helm of the organisation and 12 years in total at the Real Estate Institute of Australia. President, Adrian Kelly said he has been very appreciative of Mr Kreitals’ contribution over the past decade and thankful for the excellent shape that he is leaving the REIA in.…
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Rent.com.au & Novatti partner to develop RentPay
Rent.com.au has partnered with global software group Novatti to deliver RentPay. According to an ASX announcement, the agreements comprise a Subscription Agreement and a Software as a Service agreement. The partnership is slated to deliver: a 36-month SaaS Agreement with Novatti to build and operate payments backend. Novatti’s payments scale and potential banking capability allow for compelling customer offer. Key…
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Rental values on the up
A quarterly review of national rents by CoreLogic showed that rents surged 0.5% higher over the month to January 2020 to record a current median rental value of $440/week. According to Eliza Owen who heads up the company’s residential research division, this was the highest monthly growth rate in the national rental index since January…
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Airbnb promotes party prevention
Short-term rental platform Airbnb is encouraging its hosts to use third-party surveillance devices in a bid to cut down on disruptive behaviour. Airbnb came under fire last year for incidents in the US where guests have damaged properties and thrown wild parties – and now the company is taking a stance. Starting today, we are banning “party houses” and we…
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Short-term property management company MadeComfy expands to Canberra
Short-term rental management company and official Airbnb partner MadeComfy has recently announced its expansion into the Canberra market. Currently operating across Sydney, Melbourne, Brisbane, the Gold Coast and Sunshine Coast. the short-term management specialist has found strong demand for quality accommodation in the nation’s capital, with occupancy rates among the highest in the country, consistently averaging between 80-90 per cent.…
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Economy up 0.5 per cent in December quarter
The Australian economy grew 0.5 per cent in seasonally adjusted chain volume terms in the December quarter 2019 and 2.2 per cent through the year, according to figures released by the Australian Bureau of Statistics (ABS). ABS Chief Economist Bruce Hockman said domestic demand remained subdued with 0.1 per cent growth in the December quarter, while a pick up in…
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Housing affordability down 2 per cent in December quarter
As interest rates continue to shrink on home loans, the ability for people to buy their own home has also reduced. According to the REIA Housing Affordability Report for the December 2019 quarter, affordability has declined another two per cent. In practical terms this means the proportion of income required to meet loan repayments has increased to 34.7 per cent,…
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Movers and Shakers
New offices, brand expansion and experienced agents taking on fresh roles…it’s been a couple of weeks of movers and shakers. Here’s a quick run down of recent moves and changes across the country.
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Take a stand for your health: VariDesk
According to the World Health Organization, the average adult spends about a third of their life at work, and in a sedentary era ruled by technology, chances are much of that is spent sitting. In real estate it’s no exception and it’s little secret that’s no good for your health. “The term ‘sitting disease’ is a phrase that is being…
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Rising star appointed to lead Ray White Commercial
Ray White Commercial has appointed Andrew Freeman, who has been with the family group for 18 years, as the new Head of Agency Operations. Mr Freeman has had an illustrious career with the family-owned and led brand, and after sitting down with Ray White Group Managing Director Dan White, was convinced his next step would be into the commercial network.“I’d often…
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MyDesktop acquired by Real Estate Investar to create “CRM of the future”
Domain has announced the sale of its customer relationship management product, MyDesktop, for $14 million to Real Estate Investar. Domain Group Chief Executive Officer and Managing Director, Jason Pellegrino, said the sale was a continuation of Domain’s objective to simplify and optimise the business, and deliver the best value to agents. “We recognise the importance of CRM systems to every…
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Coronavirus fears force the RBA to cut rates to 0.5%
Fears that the coronavirus will weigh on both the local and global economies has forced the RBA to slash the official cash rate by 25 basis points to 0.5 per cent. The RBA made the decision to cut interest rates to a record low level in what is the fourth cut in 12 months. The unprecedented fallout from the coronavirus…
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More regions in positive territory: Herron Todd White
More of the nation’s regions have progressed into positive property value territory, according to the latest findings from Herron Todd White. This week their market data indicates housing in Canberra and the New South Wales central west continues to sit at the peak of the property market, while Sydney, the Sunshine Coast, Gold Coast and Rockhampton are fresh faces on…
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House price rebound continues with new highs in sight
House prices across the country have continued to grow in value in February, with Sydney and Melbourne again the strongest markets in the country. According to the latest data from CoreLogic, median house prices across the combined capital cities jumped 1.2 per cent in February. Again it was Australia’s two major cities, Sydney and Melbourne that are doing the bulk…
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Super Saturday lives up to its auction market promise
The busiest auction day of the year lived up to its name, with Super Saturday seeing 2,933 auctions in the capitals, delivering a preliminary clearance rate of 77.1 per cent.
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Relationships in real estate in an era of PropTech
Over the last decade, PropTech has been changing the way the real estate industry operates, but at its core, property is about people. It’s always been said that real estate is a relationships business and even with the influx of PropTech firms that make transactions both easier and more transparent, buyers and sellers still need a certain level of human…
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PRD appoints new managing director
Todd Hadley has been appointed Managing Director of PRD, taking over from Tony Brasier who has been at the helm of the real estate company for eight years. With 13 years’ experience, including a background in stakeholder relations, Mr Hadley will lead PRD forward in day-to-day operations, driving the business forward into the future. “I am thrilled to take over…
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2020 ARERA winners announced
The region’s top performing independent agencies and individuals have come together for the 14th annual Australasian Real Estate Results Awards (ARERAs). Hosted by industry coaching and training body Real Estate Results Network (RERN), this year’s ARERAs were more hotly contested than ever, with a large number of nominations received from across Australia and New Zealand. Winners from 36 award categories…
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Property start-up to deliver sale success
Australian property start-up Brickfloor is eliminating home selling stress by providing a Home Price Guarantee for sellers. Working alongside leading real estate agencies, including Marshall White, and acting as an insurance policy for home sellers, the Home Price Guarantee product sees Brickfloor commit to buying the seller’s home for a competitive price that’s locked in before they even list. If…
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730,000 interest-only mortgages a ticking time bomb
Hundreds of thousands of borrowers on interest-only loans will be hit with higher repayments this year according to new research by comparison site Finder. A Finder analysis of Australian Prudential Regulation Authority (APRA) data revealed that 730,000 interest-only (IO) home loans will convert to principal and interest repayments in 2020. Of all the home loans granted in 2015-2016, a worrying 39…
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The global trend in co-living spaces
A new global metropolitan housing trend is hitting Australia with full force and is set to cause sustained growth in an emerging property sector dominated by young professionals. Recent research from Savills shows that co-living – purpose-built housing that mixes high-quality rental rooms with sophisticated communal lifestyle spaces – is on the up. They note investment into co-living predominately emerging…
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Domain ups stumps as major cricket sponsor
Domain has “upped stumps” as the naming rights sponsor for the Cricket Australia men’s test series as the property portal seeks to embrace a more targeted marketing approach in the wake of lacklustre half yearly results. The announcement that Domain would withdraw from the naming rights sponsorship comes just half way through a four-year contract…
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Big bank home loan war as ANZ slashes fixed rates to 2.68%
Australia’s fourth largest lender, ANZ, has slashed its fixed rate home loans by up to 0.86 per cent. The lowest advertised rate from ANZ is now 2.68 per cent on its two-year fixed rate package loan for owner-occupiers paying principal and interest. This is the second equal lowest two-year fixed rate in the RateCity.com.au database. ANZ has cut their two-year…
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Auctions go from strength to strength
Auctions go from strength to strength The auction market continues to go from strength to strength with 2,446 properties going to auction in the major capitals this week, resulting in a preliminary clearance rate of 77.7 per cent. According to the CoreLogic data, that was a significant increase on this time last year when 2293…
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RE/MAX recognises big wins from a year of distinct halves
Around 400 people gathered to celebrate RE/MAX Australia’s top performers for 2019 last week after a year which Managing Director Michael Davoren described as one of ‘perfect opposition’. “The first half was the toughest six months for some time, with the impacts of royal commissions, elections and so on; then the second half was a total turnaround, which paved the…
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PropTech platforms Realtair and AuctionNow join forces
Australian PropTech innovator Realtair will merge with leading independent auction platform, AuctionNow, in a move that will see the formation of Australia’s first genuine end-to-end, integrated digital sales transaction platform. Realtair CEO and Founder Peter Matthews said the merger with Damien Cooley’s AuctionNow is perfectly timed at the start of this new decade. “At Realtair we have digitised and automated…
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Ray White Vic forecasts growth for 2020
Ray White Victoria corporate auctioneer Jeremy Tyrrell is optimistic about 2020 and says he’s expecting positive growth for the property market. After the highs and lows of 2019, Mr Tyrrell – who has 20 years of auctioneering and real estate experience under his belt – says the new year has begun with positive momentum. “With the Australian elections over and…
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CEO calls for disclosure of energy efficiency in homes
First National’s chief executive Ray Ellis is calling on the nation to follow the lead of the ACT as climate change consciousness extends far beyond the capitals to impact regional home buyers and renters.
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First home loan scheme helping millennials: HIA
Data indicates the Federal Government’s First Home Loan Deposit Scheme is already helping millennials achieve their home ownership aspirations while giving a boost to regional areas. According to HIA Chief Executive Industry Policy, Kristin Brookfield, government data shows 34 per cent of First Home Loan Deposit applicants are aged between 25 and 29, while 76 per cent of applicants are…
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Property price optimism rising in capitals as regions feel the strain
Record low interest rates have helped boost the level of financial comfort for many Australians who reside in our capital cities, as a rebound in property prices improves sentiment. However, the gap with those in regional areas continues to grow, according to ME Bank’s latest Household Financial Comfort Index. Australians living in regional areas are currently experiencing an eight-year low…
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realestate.com.au launches autumn advertising campaign ‘Millions More Buyers’
realestate.com.au has surged to a new record audience high of 9.3 million as its new autumn advertising campaign begins. The ‘Millions More Buyers’ campaign uses modern illustration throughout the brand’s multi-channel approach. Digital, out of home, radio and TV campaigns aim to drive listing activity in the market as the autumn selling season begins strongly. The campaign’s 30-second TV commercial aired nationally for the first…
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Auction clearance rate up on the back of increased volume
The national clearance rate is sitting just below 80 per cent after a weekend which saw Canberra, Sydney, Perth and Melbourne all achieve exceptional results. According to the latest data from CoreLogic auction markets showed a strong result of 78.6 per cent on the back of higher volumes as the number of properties taken to…
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