National
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Home lending bounces back in the lead up to spring
New ABS data released this week shows home lending is back with a bang, posting a 5.1 per cent jump month-on-month in new home loans settled in July. Owner-occupiers saw the biggest growth, increasing 5.3 per cent in value in July compared with June figures, in seasonally-adjusted terms, excluding refinancing. Investors have continued their come-back into the housing market, with…
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First home buyers surge in July
First home buyers are continuing to take advantage of a less competitive environment and more affordable house prices, according to the Housing Industry Association (HIA). HIA economist Angela Lillicrap said yesterday’s ABS Lending to Households and Business Data for July indicated the number of loans to first home buyers was up by 1.3 per cent for the month and 4.0…
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How population is impacting house prices
Population movements are one of the key reasons house prices rise and fall, and according to Herron Todd White, it’s not just about how how many people are moving to or from your city, but also the demographics of those people. The leading Australian valuer has studied the impact that the current population trends have been having in our major…
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New Property Tree dashboards reinvent agency reporting
Agency owners and operators who use Rockend’s Property Tree will notice a new change to dashboards – and it’s set to reinvent agency reporting. The new, re-imagined and enhanced set of dashboards offer access to a richer set of visually appealing reports, fuelled by real-time data, that are customisable by the user. The new release includes five dynamic dashboards available…
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The RBA leaves interest rates unchanged at 1%
The RBA has left the official cash rate unchanged at one per cent at its September meeting, however, more cuts lie ahead if global conditions continue to weigh on the economy. In a statement that largely mirrored the August update, RBA Governor Philip Lowe suggested Australia is still in for an extended period of low interest rates. “It is reasonable…
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House prices jump across the country
Buyers are coming out in numbers in Australia’s two major cities and it was the driving force behind the first big jump in house prices that we’ve seen in many months. According to the latest data from CoreLogic, Sydney house prices rose by 1.6 per cent, while Melbourne jumped by 1.4 per cent. Across the country, dwelling values increased by…
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The Agency reports strong growth
Industry newcomer The Agency has notched up an impressive year of growth, with financial results indicating annual group revenue increased 86 per cent during the 2018/19 financial year to $31.3 million. It follows on from 75 per cent growth and 70 per cent growth during the prior two years. Across the board, The Agency figures…
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New Delhi conference proves huge business platform for RE/MAX
An Australian-New Zealand contingent has recently returned from the fifth annual Asia Pacific Convention for the global real estate giant, RE/MAX, which took place in New Delhi, India from August 19 to 21. RE/MAX Australia and New Zealand managing director, Michael Davoren, said the event represented a continued building of relationships. “After a succession of conferences, people are now talking…
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Rent.com.au improves earnings in tough market conditions
Rental property website rent.com.au has reported improved earnings for the 2018/19 financial year, amid a slowdown in the property market nationwide. The company had a net loss after tax of $2,497,183 for the year ended 30 June 2019. This was up from the previous year by 8.7 per cent, however topline revenue was lower by -6.9 per cent. Established in…
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Sydney Swans and realestate.com.au announce major partnership
The Sydney Swans have announced realestate.com.au as the club’s new major partner and their official property search partner. The three-year deal provides realestate.com.au with access to a suite of digital assets, as well as increased presence at all Sydney Swans home matches, in the form of at-ground branding and a new exclusive realestate.com.au hospitality lounge directly beneath the scoreboard. The Sydney Swans have also announced that realestate.com.au will adorn the back…
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Property Tree surpasses 3500 customers as cloud adoption increases in Australian real estate industry
Almost twice as many agencies now use cloud technology over server-based software, according to research by Rockend, who note 62 per cent of property management agencies rely on the cloud in an increasingly fragmented market. MRI Software Company, Rockend, is seeing this within its own cloud-based suite, with Property Tree surpassing the 3500 active customer mark this month. According to…
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Sunshine State dominates at Belle Property awards
It was a big night for the Sunshine State at Belle Property’s national awards night this week, with two Queensland agents taking home the biggest gongs. Bulimba’s Tony O’Doherty was awarded the highly-coveted National No. 1 Sales Agent of the Year Award, while Andrew Oostenbrink, of Carindale won numerous awards. Hailing from Ireland, Mr O’Doherty has been a Brisbane local…
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Gold Coast real estate identity is top seed
RE/MAX broker owner, Danny Woolbank, has been a force with the squash racquet since eight years of age. After a decade of repeatedly winning Queensland titles for his age, he entered the Australian Institute of Sport when he was 18. Since Mr Woolbank joined the ranks of Masters, which is for over 35 players, he has won three Australian titles…
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Weekly auction wrap: Clearance rate set for a two-year high
It was another strong weekend for auctions, with the nationwide preliminary rate sitting at a very strong 76.6 per cent. If the final clearance rate finished above 70 per cent, it will be the first time since May 2017 and a really strong sign for property prices headed into the spring selling season. Sydney led the playing field with 81.7…
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Domain Profits Down But Upbeat About Outlook
Releasing their full-year Financial Results last week, Domain Group’s profits have fallen 30 per cent compared to last year, with the property slowdown in its major markets of Sydney and Melbourne hurting the bottom line. After an ‘extraordinary’ series of events, listing volumes around the country were down 20% to what is a 20-year low. Sydney and Mebourne in particular…
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Going paperless could save you $5K this year
Millions of workers around the world are often overwhelmed by the amount of paper they have to deal with on a daily basis. Real estate professionals in particular can at times be overloaded with more documents than they know what to do with. Moving away from paper in the office not only has the potential to save your office more…
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Young Australians want home of their own, but work and study come first
While early adulthood is traditionally the period when young adults begin to live independently, new AHURI research reveals many young Australians are putting their longer term housing aspirations on hold to meet other life goals such as completing education or gaining secure employment. In 2015-16, only 17 per cent of young adults aged 18-24 years lived independently, with most (66…
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realestate.com.au launches first-to-market content in app
realestate.com.au today launched content in app, a first-to-market experience allowing users to access property news, data and insights within the realestate.com.au app. The experience is now live on the realestate.com.au iOS app, with Android users receiving the update from next week (Monday 19 August). With over 29 million launches of the app every month, a…
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Domain has launched school-based search experience
In an Australian property listing portal first, Domain Group (ASX: DHG) has launched a new school-based search experience allowing property-searching parents to search by school name on Domain and find properties in that school catchment area. Until now, it has been difficult for parents with specific schools or school catchments in mind to access school…
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LJ Hooker honours top performers at International Awards
LJ Hooker has recognised its top performers across Australia and New Zealand at its annual conference and International Awards gala, held earlier this week on the Gold Coast. LJ Hooker Network Chief Graeme Hyde said the awards night is the most important event of the year, especially in a challenging market. “Despite the market challenges faced by the real estate…
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Weekly auction wrap: Registered bidder numbers jump
The buyers returned over the weekend as auctioneers saw another strong auction clearance result across the country. Both Sydney and Melbourne saw jumps to 81.2 per cent and 73.2 per cent respectively, both up on last week’s final results. Elsewhere the numbers were also strong, with another week where auctions closed out above the 70 per cent level nationally, finishing…
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PRD unites to support Red Nose Day!
PRD offices across the nation have united to support Red Nose Day, embracing their silly side for a serious cause. Over the years, PRD has partnered with many charities including the Daffodil Day appeal, YoungCare and the Cancer Council’s Pink Ribbon fundraiser. This year, the brand turned its attention to Red Nose Day. Now in its 31st year, Red Nose…
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A ‘challenging’ year for REA Group but outlook is positive for property
Despite challenging market conditions, REA Group has posted an eight per cent increase in both earnings and revenue for the financial year ending June 30. Australia’s major real estate listing service announced their results to the market on Friday, which also showed an eight per cent decline in listings over the past year, with the Sydney and Melbourne markets being…
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InfoTrack named a top 10 leading innovator in technology
Integrated searching company, InfoTrack, has been named in the top 10 of the 2019 AFR BOSS Most Innovative Companies List as a leading innovator in technology across Australia and New Zealand. The prestigious annual list, published by The Australian Financial Review and Boss Magazine, is based on a rigorous assessment process in conjunction with a panel of industry expert judges. InfoTrack has…
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PropertyMe celebrates 2,500 subscribers
Just four months after notching up 2000 customers, Australian PropTech company, PropertyMe, has celebrated the milestone of 2500 cloud subscribers across Australia and New Zealand. With over 30 years’ experience in the PropTech space, the founders of PropertyMe had the unique advantage of starting PropertyMe from a blank canvas six years ago. Since launching, PropertyMe has delivered more than 1400…
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Research reveals older Australians’ hopes for housing
Future government policy on housing is set to be shaped by a new study which reveals most older Australians want to live in the middle or outer suburbs of a city in detached, freestanding three-bedroom homes. The research, Older Australians and the housing aspirations gap, undertaken for AHURI by researchers from Curtin University and Swinburne University of Technology, explores the…
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The RBA keeps rates on hold
After two straight months of rate cuts, the RBA has left rates unchanged at one per cent. The move was widely expected and will mean borrowers will likely not see any changes to variable rates this month. However, RBA Governor Lowe has suggested that the RBA stands ready and able to cut rates further if they are required to do…
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Weekly Auction Results: Sydney and Melbourne holding steady
While the combined clearance rate across the country saw a slight dip this week, Australia’s two major markets of Sydney and Melbourne have remained above the 70 per cent mark. In Melbourne, there were 500 homes up for auction with a 73.3 per cent success rate. That was up from the prior weeks of 71.7 per cent. Meanwhile in Sydney,…
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Property prices continue to turn the corner
There are more positive signs for property prices across the country as the latest data from CoreLogic suggests the market is moving into a recovery phase. This is the second straight month that prices have ticked higher in both Sydney and Melbourne as the positive sentiment in the market continues to improve. Since APRA reduced the buffer rate on borrowers,…
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Ray White hits the Harvard classroom for leadership
Property giant Ray White has hosted its fifth Leadership Academy in Sydney, giving its members a world-class education and a global perspective on leadership skills and best practice. The family have been students of the Harvard Business School for almost a decade and now they offer this opportunity to their members and key partners. This week, Ray White welcomed more…
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Rockend acquired by global software provider
MRI Software (“MRI”), a global provider of real estate software solutions has acquired Australian market leader Rockend. For MRI the acquisition expands their offering in the Australia and New Zealand markets, bringing with it more than 6,000 clients and 750,000 strata lots in the residential property management rental and strata sector. “Acquiring Rockend represents a…
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Fletchers launches film to celebrate centenary
Reaching a major milestone such as a 100-year anniversary is a feat very few Australian real estate agencies ever accomplish. From humble beginnings at their first offices at 2 Cotham Road in Kew in 1919, to a network of over 20 offices more than a century later, the foundations established by the Fletcher family in…
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Property app Soho signs PRDnationwide
Social property app Soho has just signed over 400 PRD nationwide Real Estate agents and 80 offices across Australia The collaboration allows users more ways to discover properties on Soho, while also being updated on daily market insights into real estate trends. Property seekers will now get all their property needs more easily, and in one place while also connecting…
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Weekly Auction Results: Auction clearance remains high on slightly higher volumes
Sydney and Melbourne continue to lead the country with another strong week of auction clearance results. After last weeks solid result, Sydney again leads the nation with a preliminary 78.5% clearance rate. While Melbourne continues to improve and finished on higher volumes than Sydney 74%. As sellers continue to sit and wait for spring, demand…
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Auctions this week: Clearance rates continue to tick higher on low volume
Auctions this week: Clearance Rates Continue to Tick Higher on Low Volume It might be the middle of winter in Australia, but that hasn’t stopped the resurgence in the auction clearance rate across the country. In Sydney, the preliminary clearance rate was up to 81.5%, its highest in more than 18 months. In Victoria CoreLogic…
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