Industry News

  • Reforms to the Residential Tenancies Act have passed without amendment, according to the Real Estate Institute of New South Wales. These major changes affect the real estate industry, landlords & tenants. REINSW President Leanne Pilkington said the Residential Tenancies Amendment (Review) Bill 2018 has passed and REINSW is now commencing the first phase of educating the property management community. “It…

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  • After a tight competition, the Australasian Real Estate Institutes’ Auctioneering Championship for 2018 has been awarded to Andrew North of New Zealand at a gala dinner at the Maritime Room in Auckland last night. Real Estate Institute of Australia (REIA) President Malcolm Gunning said the event, hosted this year by the Real Estate Institute of New Zealand (REINZ), who stage…

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    Fifth-generation real estate veteran Geoff White has taken over the reins as the CoreLogic National Head of Real Estate. A prominent member of the Victoria real estate industry with extensive expertise, Geoff has been CoreLogic’s Group Sales Director since 2017, and previously headed up the Real Estate Institute of Victoria (REIV). Mr White says that his time with CoreLogic Victoria…

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  • Australia and New Zealand are battling it out again, but this time the two countries are going head to head at the 2018 Australasian Real Estate Institute’s Auctioneering Championships, with the winner to be crowned Australasia’s best auctioneer at a gala dinner tonight. The Real Estate Institute of New Zealand (REINZ) is playing host this year and the five finalists who…

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    REIWA is disappointed that the members of WA Parliament have ignored the concerns of the property industry by voting to pass the Foreign Owner Duty Surcharge tax. REIWA President Damian Collins said the new tax would likely have significant consequences for the WA property market, which was just starting to show signs of recovery. “The WA property market has endured a…

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  • The Real Estate Institute of Victoria (REIV) has announced that the Board has elected Robyn Waters as President for 2018-19. Ms Waters was the first Australian woman to be appointed World President of the International Real Estate Federation (FIABCI) in May 2014. She served on the REIV Board as Senior Vice President in 2017-18 and as Director from 2001 to…

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  • This week is Golden Week – a holiday week for the Chinese where it used to be all about travel, and in Australia, property. But not for the last couple of years according to Juwai.com CEO Carrie Law. Ms Law says that the balloon has definitely deflated over the past three Golden Weeks, and while they still see some transactions, it’s not…

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  • The REIQ welcomes the Open Doors to Renting Reform consultation, which forms part of the Queensland Government’s Department of Housing and Public Works (HPW) ongoing review of the Residential Tenancies and Rooming Accommodation Act (2008). A snap poll on the Open Doors to Renting Reform website asked: “Would a pet bond help tenants and property owners reach agreement around keeping…

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  • The REIWA Council has elected Damian Collins as the Institute’s new President. Following Hayden Groves’ announcement last week he would be finishing his term as President, the 2018-19 REIWA Council met on Thursday 4 October and elected Mr Collins to the Institute’s top position. Mr Collins has served on the REIWA Council since 2011 and as Deputy President since 2015. He…

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  • The Royal Commission released their interim report last week from the investigation into Misconduct in the Banking, Superannuation and Financial Services Industry. The report has called into question how buyers are assessed for loans and is likely to mean serviceability will continue to tighten. The report also called ASIC into question for failing to police the banking sector and highlighted…

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  • The October 2018 issue of the Month In Review report from independent property valuation and advisory firm Herron Todd White shows that the majority of markets in New South Wales are either at their peak or declining, while Brisbane and Adelaide are still on the rise. Residential According to the firm’s Residential Property Clock, NSW’s North Coast region, including Coffs…

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  • Yesterday (2 October 2018) the RBA Board decided to leave the cash rate unchanged at 1.50 per cent for its 24th 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. “Growth in credit extended to owner-occupiers remains robust, but demand by investors…

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  • UBS Global Wealth Management’s Chief Investment Office have released The UBS Global Real Estate Bubble Index 2018, indicating ‘Bubble risk’ or a significant overvaluation of housing markets in most major developed market financial centres. According to the report, ‘Bubble risk’ appears greatest in Hong Kong, followed by Munich, Toronto, Vancouver, London and Amsterdam. The study has also found imbalances in Stockholm,…

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  • The Queensland Government has announced a state-wide consultation to be followed with reforms to residential tenancy laws for renters and property owners. The consultation began on 30 September and will involve renters, landlords and real estate agents being contacted and asked for their views around the changing market and how successful the current system is. The reviews of the 40-year-old…

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