Industry News

  • In a bid to fix a growing affordability issue, the New Zealand government has passed the Overseas Investment Amendment Bill. The bill will stop the majority of non-resident foreign buyers from purchasing existing property in New Zealand. It passed on Wednesday night by 63 votes to 57. The plan was announced in October to end the purchase of existing houses…

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  • For the first time in seven years Melbourne has been knocked from the top of the The Global Liveability Index. The ranking, produced by The Economist Intelligence Unit, has put Vienna, Austria, in the top position for 2018, moving Melbourne to second place. The upset comes as Sydney rises significantly through the ranking, up to fifth position from 11th last…

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  • Ray White Hotels Australia Managing Director Andrew Jolliffe has claimed the major individual honours at the annual Ray White Commercial awards for the fourth consecutive year. The awards were held on Sunday night at the Gold Coast Convention and Exhibition Centre, which kicks off the Ray White Group’s Connect Conference, with 2,500 attendees from across the entire group. Andrew Jolliffe,…

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  • PM Transform 2018, in partnership with Real+, realestate.com.au and Rockend saw participants from across the country take part in a 30-day intensive training program, including live classes, daily challenges and exercises focused on helping them achieve their career goals.  A number of industry-recognised coaches and trainers participated, delivering live sessions and exclusive training content for the participants across the month.…

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    The REIQ has welcomed the commitment from the Palaszczuk Government to introduce mandatory continuing professional development (CPD) for real estate professionals, but as of yet there is no time frame for the changes to come into place. REIQ CEO Antonia Mercorella said the promise, made by Treasurer Jackie Trad, was the successful outcome the REIQ had been working towards. “We…

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  • Three Australian cities sit in the top 20 of the Knight Frank Prime Global Cities Index, showing the prestige market is still performing strongly. The report from Q2 2018, which tracks the progress of 43 cities worldwide, shows Sydney, Melbourne and Brisbane are still keeping up with growth elsewhere, coming in as 15th, 17th and 20th respectively. Perth also showed…

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    reiwa.com has launched a new app which makes searching for property in WA easier. REIWA CEO Neville Pozzi said the reiwa.com app provides West Australians with a convenient way to find their dream home, investment property or rental accommodation. “The WA public can take their property search on the go, using an array of intuitive features that make searching for…

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    First-home buyers are currently dominating owner-occupier housing loans, with the number rising again in June 2018 to the highest rate since October 2012. The ABS housing finance figures for June 2018 show that FHBs now account for 18.1 per cent of owner-occupier home loans. The number of FHB owner-occupier loans has now increased by 11.4 per cent over the last…

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  • Superestate, the first non-SMSF superannuation fund to invest in residential property, has partnered with The Agency, appointing the network’s property management team to manage the first investment. The model sees members choose either a 25 per cent or 50 per cent exposure to residential property as the Superestate team builds a national residential property portfolio. The team behind Superestate includes…

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  • Yesterday (7th August 2018) the RBA Board decided to leave the cash rate unchanged at 1.50 per cent for its 22nd consecutive meeting. “Conditions in the Sydney and Melbourne housing markets have continued to ease and nationwide measures of rent inflation remain low,” says RBA Governor Dr Philip Lowe. “Housing credit growth has declined to an annual rate of 5 1/2…

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  • Over 80 real estate professionals gathered on 26 July to recognise the best-performing agents and agencies at the inaugural Openn Negotiation Excellence Awards. Led by Peter Gibbons, Openn Negotiation Co-founder and Managing Director, it was an opportunity to celebrate not just the finalists and the winners, but all agents who had decided to embrace technology and the need for better…

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    US-based platform Zillow has debuted a system which will allow renters to find, apply for and pay for rentals online. The system will be rolled out across the company’s three platforms – Zillow, Trulia and HotPads – but not New York-based StreetEasy. “Renters tell us they want the entire rental process to happen online, from search to application to payment.…

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    Realty services group Property Connect Holdings has signed a minimum five-year licence agreement to us a technology platform from marketplace treasury company Clearmatch. Property Connect is aiming to use the technology as part of a plan to develop peer to peer lending products focused in the property sector, especially project development financing. The new lending products will generate revenue from…

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  • The Business of Real Estate leadership event is open to all principals, leaders and managers in the real estate industry. This multi-speaker event features presentations from leading business minds within the Australasian real estate industry, as well as international guests. The program will see attendees walk away with key insights, knowledge and strategies which put them to the forefront of…

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