National
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@realty signs partnership with Gold Coast Suns
National real estate network @realty has signed a five-year partnership with the Gold Coast Suns Football Club as an official sponsor of the team’s coaching staff. @realty will be the Gold Coast Suns’ exclusive real estate partner and senior coach Stuart Dew’s first corporate partner. The partnership has been forged as @realty prepares to expand its operations into the Northern Territory,…
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Why agents are knocking at NOKK’s door
Like many start-ups, the idea was born from personal experience. NOKK co-founder Ben Voltz, a digital entrepreneur who also counts transaction platform ROKT as one of his successes, was struggling to find a home in his desired suburb of Albert Park in Melbourne. “There were only about 15 properties on the market, which is a very small amount out of…
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Purplebricks launches new ad campaign, focuses on taking down ‘commission collectors’
Purplebricks Australia has today unveiled an advertising campaign led by media personality Barry Du Bois. The campaign encourages Australians to question the real estate industry’s ‘commission collecting’ model. Encompassing television commercials, digital banners and radio spots, the nationwide campaign challenges Australians to consider how they can get the best return when selling their home. Mr Du Bois, a television property expert,…
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Over $57,000 to donated charity by The Harcourts Foundation this quarter
The Harcourts Foundation, the charitable arm of Harcourts Group Australia, have donated a total of $57,386 across Australia to benefit charities serving the communities where Harcourts employees live and work. “During 2018, a total of $311,652 was granted by The Harcourts Foundation to a long list of community charities,” said Julia Eyles, The Harcourts Foundation Coordinator. “Starting off the new…
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The Agency completes Top Level Acquisition
The Agency Group Australia (ASX: AU1) via their wholly-owned subsidiary Ausnet has completed the acquisition of Top Level Real Estate – also known as The Agency East Coast. The announcement was made via the ASX last night. In addition to acquiring all of the shares in Top Level Real Estate, they have also raised $8.4 million via the issue of…
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First home buyers claim their biggest slice of the property pie in six years
First home buyers have claimed their biggest share of new housing loans in more than six years, according to the latest ABS Housing Finance figures. The data shows first home buyers made up 18.3 per cent of owner-occupier loans taken out in November, up 0.2 per cent from last month. This is the highest share for first home buyers since…
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Market likely to correct, not crash, in 2019 says realestate.com.au
Today realestate.com.au launched its quarterly Property Outlook – January 2019 report (October to December 2018), analysing more than 80 million property searches. While the worst may not be quite over for Sydney and Melbourne, conditions remain highly variable across the country, year-on-year declines in Melbourne (-1.48%) and Sydney (-5.93%) look to be far less severe than many are reporting. Hobart,…
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CoreLogic reveals best performing suburbs for 2018
CoreLogic has released their Best of the Best report for 2018, revealing the suburbs which performed best as the property market slowed. At a macro level, CoreLogic research analyst Cameron Kusher describes the property market conditions for 2018 as ‘slowing quite rapidly’. Digging beneath the surface, his analysis found that the market conditions are now somewhat of a mixed bag,…
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Ray White Christmas cheer raises thousands for charity
Christmas has come early for a number of charities as Ray White’s Christmas initiative ‘A Little Ray of Giving’ raised thousands of gifts, money and triple-figure food bags across Australia and New Zealand. Some 320 offices across the Ray White Group signed up to the initiative, with more than 15,000 gifts collected, over $13,750 in food value raised and 175…
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APRA removes cap on interest-only home loans
The Australian Prudential Regulation Authority (APRA) has announced it will end a 30 per cent cap on the proportion of new loans that can be made on an interest-only basis, saying it was a ‘temporary measure’. APRA chair Wayne Byres said that since the introduction of the cap the proportion of new interest-only lending had halved and that the share…
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Domain purchases Commercial View
Domain have made their first acquisition since the Nine takeover, purchasing Commercialview.com.au. The move comes after the announcement last week that Chief Sales Officer Tom Ainsworth had been made redundant after CEO Jason Pellegrino had made the decision to restructure the business. The acquisition is occurring via Commercial Real Estate Media (CREM) which is a subsidiary of Domain – owned…
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1form launches Tenant Verification
Realestate.com.au’s 1form is making tenant selection easier and faster with this week’s launch of Tenant Verification. The new feature will allow potential tenants to submit a more complete application, by checking their identity documents (Australian driver’s licence or Australian passport) through Australian Government Document Verification Service and National Tenancy Database checks, together with court record checks, and bankruptcy checks conducted by…
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Purplebricks posts interim results, reports Australian operating loss of $10.2 million
Purplebricks have posted their interim results from the first half of the financial year in London, with the report stating ‘market conditions and some operational issues’ are the reason behind significant operating losses in Australia. Shares in the company fell almost 13 per cent after the results were posted. They included an Australian operating loss of $10.2 million in the…
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REIA elects new president
The Real Estate Institute of Australia (REIA) has welcomed the election of a new President, Adrian Kelly from Tasmania. Mr Kelly was elected as the 45th President of REIA, the national professional association for Australia’s real estate sector, at the Annual General Meeting held in Canberra on 13 December, effective immediately. Hayden Groves from Western Australia was re-elected Deputy President…
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Survey results show what really makes property managers happy
Property software provider Rockend has released the results of their 2018 Voice of the Australian Property Management survey which has shown how property managers really feel about their industry. The survey of 1,034 property management professions, including property managers, principals, heads of departments, BDMs and trust managers, was aimed at establishing a benchmark for the feeling of those in the…
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Tom Ainsworth receives redundancy from Domain as restructure is announced
Domain’s chief sales officer Tom Ainsworth has been made redundant as CEO Jason Pellegrino makes major restructuring changes in the business. According to a memo sent to Domain staff yesterday, the restructure will see the business split into two main arms – B2B and B2C. The split has seen the former chief product and customer experience officer Tony Blamey promoted…
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realestate.com.au launches Agent Ratings and Reviews
realestate.com.au has launched Agent Ratings and Reviews as a free, unbiased platform to help agents get noticed by more people on the website. Agent Ratings and Reviews will go live to consumers on realestate.com.au in early 2019, giving agents time to look their best by gathering real, authentic reviews from past buyers and sellers ready for launch. Agents have the…
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Dexus paves the way to net zero emissions with renewable Energy Supply Agreement
Dexus has agreed terms for one of Australia’s first supply-linked renewable Energy Supply Agreements (ESA), which will purchase renewable energy offsite to power the base building services of more than 40 buildings in its New South Wales property portfolio. This will be achieved through the procurement of renewable energy generation and presents a new lever for Dexus and the property…
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National rental report does not paint full picture of tenant experience: REIWA
A report from consumer watchdog CHOICE, together with National Shelter and The National Association of Tenant Organisations, claims that over 50 per cent of tenants are living in properties that need repairs. However, industry bodies say the report isn’t reflective of the full story. According to REIWA, the issues raised in the Disrupted: the consumer experience of renting in Australia report are…
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Knight Frank appoints leading Residential Project Marketing agent
Knight Frank has appointed Murray Wood as Partner, Residential Project Marketing, Australia from early 2019. With over 20 years’ industry experience specialising in project marketing, Mr Wood has had exceptional exposure to prestige projects including several major Sydney CBD landmarks: Barangaroo – Stage 1; three stages of Darling Square; and the famous Opera Residences at Circular Quay. Knight Frank’s Partner,…
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December 2018: Interest rates on hold, Industry reaction
At its meeting yesterday (4 December 2018), the RBA Board decided to leave the cash rate unchanged at 1.50 per cent for its 25th consecutive meeting. “Conditions in the Sydney and Melbourne housing markets have continued to ease and nationwide measures of rent inflation remain low,” said RBA Governor Dr Philip Lowe. “Credit conditions for some borrowers are tighter than they…
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REA Group appoints Melina Cruickshank as Chief Marketing & Content Officer
REA Group has announced on Saturday that Melina Cruickshank has been appointed to the role of Chief Marketing & Content Officer; taking a place as part of REA Group’s Executive Leadership Team reporting to CEO Tracey Fellows. Spending four years as Chief Marketing and Content Officer of Domain, the move comes days before Nine takes full control of Fairfax Media, which…
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RE/MAX launches network-integrated platform
In the most significant milestone in its digital transformation to date, RE/MAX this month launched Precinct to its Australian and New Zealand networks. Built in partnership with Microsoft, Precinct is a one-stop RE/MAX members portal, where members have easier access to key tools and training, find resources, share ideas through enterprise social media, get real time alerts from the network,…
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Changes to flexible work arrangements from 1 December 2018
The Fair Work Commission has announced changes to flexible work for millions of workers across the country. As of 1 December 2018, employers will need to make a genuine attempt to reach a flexible working arrangement, and provide details for any refusals. Flexible working arrangements include changes to hours of work, patterns of work and locations of work. Employees who…
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Harcourts Honoured with Gold Quality Service Award by Reader’s Digest
Harcourts Group Australia has been named the Gold Winner in the Real Estate category at the Reader’s Digest 2019 Quality Service Awards. The awards are determined by a public vote and recognise companies that deliver outstanding customer service. Marcus Williams, CEO of Harcourts Australia said, “Harcourts’ success at the Reader’s Digest Quality Service Awards is a result of our consistent…
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PEXA Plus hopes to streamline the workload for online property transactions
Property Exchange Australia (PEXA) has announced that PEXA Plus, a new gateway to online property transactions, is available now in three of the five states it operates in. PEXA Plus provides members with tools to manage their digital conveyancing workload, affording them more time to focus on customer service and growing their operations. Studies show that digital conveyancing allows for an average…
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Juwai launches education channel to help Chinese buyers study and buy property overseas
Juwai.com has launched a new Education Channel on its website, dedicated to international education and related properties for Chinese families. Early sponsors and advertisers on the channel include the Overseas Property & Immigration & Investment Exhibition in Shanghai this December; Hopewell Developments, a leading Canadian developer with a portfolio in Alberta, Ontario, Manitoba and British Columbia; Surterre Properties, the leading luxury…
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Purplebricks Australia CEO departs
It has been mutually decided that Purplebricks Australia Chief Executive Officer Ryan Dinsdale will leave the business to pursue new opportunities. Mr Dinsdale will remain with Purplebricks to support a period of transition until 1 March 2019 at the latest. Mr Dinsdale took on the role two and a half years ago to launch the Purplebricks brand into Australia. During his…
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Winners announced for the third Annual REA Excellence Awards
Twenty-one winners were honoured at the third Annual REA Excellence Awards (AREAs) in Sydney last night. Recognising the most innovative, community-minded and highest-achieving individuals and businesses in property and media, awards were presented across the categories of Innovation, Service & Marketing Excellence and Community. This year saw the introduction of three new Gold AREA awards – Agent of the Year,…
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REA Group CEO Tracey Fellows announces move to New York
Tracey Fellows, chief executive of REA Group, is stepping down from the role to take on a new position as the head of digital real estate for News Corp. Ms Fellows will leave the company in January 2019 but will remain on the board as News Corp’s representative. News Corp majority own REA. Ms Fellows was appointed CEO in 2014…
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Knight Frank makes high-profile national appointment to Capital Markets team
Knight Frank has appointed Graeme Russell as Partner, Institutional Sales from late November 2018. With 33 years’ industry experience specialising in investment sales, Mr Russell will join Knight Frank from his most recent role as Divisional Director – Capital Transactions at Savills Australia and New Zealand, where he has worked for five years. Prior to that, Mr Russell was with…
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World’s largest companies to shift focus towards flexible workspace
The demand for flexible workspace is set to accelerate as over two-thirds of global corporates plan to increase their use of flexible co-working and collaborative space over the next three years, according to new research from Knight Frank. Knight Frank’s (Y)OUR SPACE report surveys senior executives at 120 global companies, which collectively employ in excess of 3.5 million people worldwide…
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LJ Hooker International Awards recognises top performer Jamie Giokaris and inducts Matthew Herbert into Hall of Fame
LJ Hooker and Harveys has recognised its leading agents across Australia and New Zealand at their International Awards, held last week on Hamilton Island. Jamie Giokaris, Principal of LJ Hooker Lithgow, was awarded the esteemed Sir Leslie Hooker accolade. The award recognises the business owner who creates a thriving office culture, is a leader within the group, gives back to…
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What $1.3 Million buys you around the world
Not all $1.3 million dollar properties are made equal, and depending on where someone is looking to splash their cash there’s a big difference in what they can get. Forgoing the metropolitan lifestyle of bigger cities will definitely get buyers more bang for their buck. Gold Coast Currently, a palatial home set on over two acres of property and yet only…
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REA Group posts 17 per cent revenue growth for FY19 Q1
News Corp-owned real estate listings platform REA Group has posted a 17 per cent revenue growth for the first quarter of FY19. Revenue increased to $221.9 million with the company’s EBITDA increasing by 23 per cent to $130.9 million compared to the previous period. This growth was despite tough market conditions; the platform reported a three per cent decline in…
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