Industry News

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  • Photo of Tassie tops regional market as WA outlook improves

    Tassie tops regional market as WA outlook improves

    The housing market in Tasmania has been the strongest performer across the entire country over the last five years – and the trend has not just been limited to Hobart. According to CoreLogic‘s quarterly regional review, which looks at capital growth over the year to April, Launceston and the North East region remain the top …

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  • Photo of Rent.com.au reports renters returning to market

    Rent.com.au reports renters returning to market

    There is increasing optimism in the rental market as the threat of coronavirus eases and restrictions are lifted, with early indications many renters are considering new moves in the coming months. In its trading update this week, Rent.com.au said its Renter Resume – which allows renters to upload a profile online – was starting to …

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  • Photo of First Home Loan Deposit Scheme fully booked – but beware the hidden cost

    First Home Loan Deposit Scheme fully booked – but beware the hidden cost

    The Australian Government’s First Home Loan Deposit Scheme has been fully reserved, but experts warn that borrowing on a five per cent deposit is now riskier than ever. New figures on the scheme show 5,500 guarantees have already been used to purchase properties, with a further 4,500 still in the process of finding their first …

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  • Photo of Real estate professionals urged to join online sleepout

    Real estate professionals urged to join online sleepout

    Real estate executives are invited to register for the first-ever online Vinnies CEO Sleepout, joining hundreds of high-profile Australians to support people experiencing or at risk of homelessness. In response to COVID-19, the Vinnies CEO Sleepout will be live-streamed online at ceosleepout.org.au/live2020 in an interactive broadcast hosted by television personality Dr Andrew Rochford. Instead of …

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  • Photo of Buyers win online auction while camping

    Buyers win online auction while camping

    A Broome property has sold entirely online to buyers who were 934kms away, camping at Karijini National Park.  Using the digital sales process Openn Negotiation, Lana Ziverts of First National Real Estate Broome facilitated the sale remotely while her sellers watched on from the other side of the country. The property, which is located at …

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  • Photo of Clearance rate hits pre-Covid high as volumes continue to lift

    Clearance rate hits pre-Covid high as volumes continue to lift

    The combined capital city clearance rate has rebounded to its highest level since early March, surpassing the 70 per cent mark as volumes also show signs of improving. This week, 613 auctions were scheduled across the capitals, marking an increase on previous weeks and returning a promising clearance rate of 70.9 per cent. CoreLogic notes …

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  • Photo of REIWA hopeful stamp duty on the WA election agenda

    REIWA hopeful stamp duty on the WA election agenda

    The REIWA has welcomed the West Australian Liberal Party’s commitment to a state tax reform, in the hope the removal of stamp duty may be on their agenda. REIWA President Damian Collins said stamp duty is the single biggest hurdle for prospective home owners and a reform is urgently needed to help recover from the …

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  • Photo of What lies ahead for the 2020 property market

    What lies ahead for the 2020 property market

    Despite the massive impact the COVID-19 pandemic is having on the economy worldwide, Australian property analysts say there are still reasons to be optimistic about the industry in 2020. According to CoreLogic‘s March Quarter Property Market & Economic Review, released this week, historically property values have remained relatively insulated in times of negative economic shock, …

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  • Photo of Doomsday housing price forecasts highly questionable

    Doomsday housing price forecasts highly questionable

    Forecasts of housing price drops of as much as 30 per cent are highly questionable and cannot be relied upon with any degree of confidence, according to the Real Estate Institute of Australia. REIA President Adrian Kelly said anyone who suggests they can forecast the future of the property industry “with any acceptable degree of …

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  • Photo of Victorian real estate weathers coronavirus storm

    Victorian real estate weathers coronavirus storm

    Victoria’s property market seems to be holding its ground well during the COVID-19 pandemic according to the latest REIV Residential Market Index (RMX) figures. The RMX is a residential property price index (RPPI) designed to provide an up-to-date and simple insight into real property price trends in Victoria. An RPPI measures the price change of …

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  • Photo of Home loan cash backs heat up, but are they worth it?

    Home loan cash backs heat up, but are they worth it?

    More than a dozen lenders are offering cash incentives for home owners willing to move their business to a new lender, with Suncorp Bank, Reduce Home Loans and 86 400 the latest to put cash offers on the table. Suncorp Bank is now offering up to $3,000 to refinancers, plus an additional $1,000 for people working in essential services roles, such as …

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  • Photo of Crown Group breaks record selling three penthouses and $63M worth of apartments

    Crown Group breaks record selling three penthouses and $63M worth of apartments

    Leading Australian property developer Crown Group has sold $63 million worth of luxury apartments and broken its own record by selling three penthouses in three months, despite government restrictions on visitors to display suites and open homes. Crown Group Director of Sales Prisca Edwards said now that restrictions have been lifted at its Mastery and Waterfall …

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  • Photo of Safe Work Australia updates guidelines for return to work

    Safe Work Australia updates guidelines for return to work

    With many people beginning to return to work in big office buildings, Safe Work Australia (SWA) has released new guidelines on the ‘COVIDSafe’ use of lifts. The guideline was updated overnight to say: “there is no requirement to provide 4 square metres of space per person in lifts, however you must still ensure, as far …

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  • Photo of Landlords offered incentives to negotiate on rent or tenants able to opt-out early

    Landlords offered incentives to negotiate on rent or tenants able to opt-out early

    NSW landlords are being offered incentives to negotiate reduced rental rates for tenants facing financial difficulties as a result of coronavirus, and tenants whose landlords don’t come to the negotiating table may be able to end their tenancy early. As part of the NSW Government’s $440 million land tax relief scheme, landlords can now apply …

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  • Photo of Property industry can help kickstart economic recovery

    Property industry can help kickstart economic recovery

    Australia’s leaders have taken decisive action in response to coronavirus which has protected Australians from the terrible health outcomes seen in other countries. But this has also taken a toll on our economy, the effects of which are still largely unknown. In response, The Property Council says the industry should play an important role in …

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  • Photo of Console Cloud launches landlord satisfaction scoring feature

    Console Cloud launches landlord satisfaction scoring feature

    This quarter Console Cloud will launch its landlord satisfaction scoring tool, and with natural rent roll attrition hovering around 17 per cent per annum, it’s a feature many will welcome. The new landlord satisfaction scoring feature is set to enable property managers to find out which clients are disgruntled and who their biggest fans are. …

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  • Photo of Australian property market: Decade in review

    Australian property market: Decade in review

    It commenced under the shadow of the GFC and with widespread floods around the country. It ended on the dawn of Covid-19 with some of the biggest bushfires in Australian history. Propertyology’s ‘Decade in Review [2010-2019] Report’ describes it as a decade of contrasts in many ways. Over the 10-year period, median house prices had …

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  • Photo of Clearance rate strengthens on the back of eased restrictions

    Clearance rate strengthens on the back of eased restrictions

    Relaxed social distancing regulations are showing early signs of positively impacting the auction market, with Sydney this week bouncing back to a preliminary clearance rate of 73.4 per cent. The welcome bolster to Sydney’s results helped lift the capital city clearance above 60 per cent, but CoreLogic is urging caution when analysing the results, with …

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  • Photo of On-site auctions resume but numbers still low

    On-site auctions resume but numbers still low

    The number of homes scheduled for auction continues to trend lower, despite most states having lifted the ban on on-site auctions and inspections. Only 365 auctions are scheduled this week, lower than the 480 auctions last week – and it’s likely to be a few weeks before there’s an uplift in scheduled volumes due to …

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  • Photo of Auction clearance rate jumps – is this the start of recovery?

    Auction clearance rate jumps – is this the start of recovery?

    Auction clearance rates have hit 59.9 per cent on the back of on-site auctions resuming in New South Wales last week – the highest clearance rate result since strict social distancing measures were rolled out across Australia. According to CoreLogic, the clearance rate for the week ending 10 May was up from 47.5 per cent …

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  • Photo of Auctions and open for inspections are coming back!

    Auctions and open for inspections are coming back!

    Real Estate Institute of Victoria President Leah Calnan has welcomed the Victorian Government’s decision to allow on-site property auctions and open for inspections to return to in Victoria with restrictions. The State Government this week announced their plans to ease COVID-19 restrictions in Victoria, which included the welcome news that property auctions and open for …

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  • Photo of Openn Negotiation announce new integration with realestate.com.au

    Openn Negotiation announce new integration with realestate.com.au

    Following significant adoption of the Openn Negotiation selling method, realestate.com.au have launched an integration between the platforms, designed to provide a better experience for buyers. The REA Group released the online auction feature in response to the national ban on in-person auctions.   The integration allows buyers to navigate directly to the Openn Negotiation listing and …

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  • Photo of Property Tree to feature Direct Connect integration

    Property Tree to feature Direct Connect integration

    Cloud-based property management software Property Tree is set to feature a Direct Connect integration as the two proptech players look to further cement their longstanding relationship. Announcing the new integration, Direct Connect explained their relationship with Property Tree creator Rockend (now known as MRI software) had been longstanding and loyal. “Direct Connect have been exclusively …

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  • Photo of Clearance rate lifts as on-site auctions ready for return

    Clearance rate lifts as on-site auctions ready for return

    As auctions prepare to welcome back the public on-site, the clearance rate has enjoyed a boost. CoreLogic notes this week’s preliminary clearance bounced back to 64.5 per cent, marking the first time it has exceeded 60 per cent since late March. Volumes on the other hand, remain subdued. The past weekend saw 473 auctions scheduled, …

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  • Photo of How property markets are responding to COVID-19 according to Herron Todd White

    How property markets are responding to COVID-19 according to Herron Todd White

    The COVID-19 crisis has thrown the national economy into turmoil, while property markets are still clearly trying to digest what it all means. Leading valuers Herron Todd White (HTW) have tabled their thoughts on what each state is facing and what might lie ahead for the nation’s residential property markets. NSWSydney has been at the …

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  • Photo of Tide turning on Chinese investor slump

    Tide turning on Chinese investor slump

    Chinese investment in Australian real estate has hit its lowest level in six years, but experts say in the last few months Chinese buyers have been returning to the market. The Foreign Investment Review Board’s (FIRB) annual report for the 2018-19 financial year revealed foreign investors from around the globe spent a total of $88.5 …

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  • Photo of Auction volumes still down but comeback on the way

    Auction volumes still down but comeback on the way

    Low sentiment, tough selling conditions and regulations preventing open homes and on-site auctions continue to push the number of scheduled auctions down this week – but an uplift could be coming sooner than expected. CoreLogic reports 424 capital city homes are scheduled for auction, down on the 612 homes auctioned last week. But with news …

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  • Photo of Auction withdrawals hit all-time high as vendors and agents adapt to COVID-19 regulations

    Auction withdrawals hit all-time high as vendors and agents adapt to COVID-19 regulations

    Auction withdrawal has spiked to about eight times the usual rate and the clearance rate for the combined capital cities has reached record lows since on-site auctions and property inspections were banned in response to the COVID-19 crisis. CoreLogic reports from the week ending 29 March to the week ending 3 May, the portion of …

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  • Photo of Prop20 to be reimagined as digital experience

    Prop20 to be reimagined as digital experience

    REA Group’s industry event series Prop20 is being transformed into a digital experience that can be accessed by thousands of property professionals across the country. The new Prop20 virtual experience will deliver property industry insights, education and training online. The reimagining of Prop20 followed government COVID-19 restrictions which introduced a ban on events and social …

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  • Photo of New standard to transform Australian homes

    New standard to transform Australian homes

    An ambitious new standard for Australian homes will help drive the transformation of the housing market to ensure new homes are built to a higher standard which is focused on health, resilience and net zero energy. As part of a webinar on future homes, the Green Building Council of Australia (GBCA) has released the report Green Star …

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  • Photo of RBA keeps interest rates at record-low 0.25 per cent

    RBA keeps interest rates at record-low 0.25 per cent

    With the Australian economy still feeling the full impact of social distancing measures, the RBA has made the decision to leave interest at a record-low 0.25 per cent. The RBA made two rate cuts in March, including an emergency cut that saw the official cash rate fall to its lowest level on record. It was …

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  • Photo of Construction sector devastated by impact of COVID-19

    Construction sector devastated by impact of COVID-19

    Up to 43,000 new homes will not be built in the next 12 months as a result of COVID-19, according to new economic modelling released today. Denita Wawn, CEO of Master Builders Australia said new modelling conducted by Master Builders Australia showed the devastating impact that lockdown was having on the building industry, the economy …

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  • Photo of The Real Estate Institutes respond to COVID-19 impact on Australian property

    The Real Estate Institutes respond to COVID-19 impact on Australian property

    As the far-reaching impacts of COVID-19 continue to be felt, the heads of the nation’s Real Estate Institutes have had their say on how they expect it will impact the Australian property industry.  Responding to Ripehouse Advisory’s Whitepaper COVID-19 vs Australian Property, most industry heads are on the same page, remaining cautiously optimistic. Across the …

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  • Photo of Finder survey says…cash rate hold and international borders to remain closed

    Finder survey says…cash rate hold and international borders to remain closed

    The cash rate is anticipated to remain on hold and Australia is projected to lose $25 billion in foreign spending, according to a recent survey by Finder. In this month’s Finder RBA Cash Rate Survey – the largest of its kind in Australia – 42 experts and economists weighed in on future cash rate moves and other …

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  • Photo of Time for change: Body language experts’ prediction for new global greeting

    Time for change: Body language experts’ prediction for new global greeting

    The traditional handshake – we do it because our parents taught us and their parents taught them to do it. Its origins are in Roman Military greetings 2000 years ago, and Westerners and Europeans accept it as ‘normal’. But in places like Asia and Japan it’s still a relatively new concept that many people in …

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