Industry News

  • Domain Holdings (ASX: DHG) released it’s 2019 half-year results on Friday, with the portal reporting a net loss of $156.4 million for the six months to December 2018. A non-cash goodwill write-down of $178.8 million drove the results into the red. Excluding this, Domain reported: Revenue growth of 0.3 per cent to $183 million EBITDA of $52.7 million Net Profit…

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    REIWA has commended the McGowan Government on its decision to approve the City of Fremantle’s amendments to its Local Planning Scheme to enable greater housing choice. The plan states that lots between 600 and 750 square metres will now be allowed a maximum of three dwellings, including existing dwellings. While lots over 750 square metres will be allowed an additional dwelling…

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  • Property technology business AD Group has soared to new heights this month by taking its latest innovation, HouseandLandDevelopments.com.au into the NSW and ACT markets. The company’s latest offering is billed as a cost-effective marketing tool for the booming land market as property prices drive buyers to the outer suburbs. According to co-founder Jordan Catalano, this step was a natural progression having…

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    Real estate peak body The Real Estate Institute of Queensland and REA Group who own Flatmates.com.au, have come together to establish a short-term solution for Townsville’s potential housing shortfall. As the massive clean up of flooded homes continues, displaced Townsville residents and workers flying into the city to help will have an easier time finding accommodation with REIQ CEO Antonia…

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    Housing finance dipped in December, as the latest ABS figures show a marked drop in new housing loans. After much speculation, new ABS Lending to Households and Business figures have confirmed the total value of new lending to households dropped 19.8 per cent from December 2017 to December 2018, in seasonally adjusted terms and excluding refinancing. Notes: Seasonally adjusted figures.…

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    It isn’t hard to forget the dual evacuations of the Opal Tower residents in Sydney Olympic Park in late December 2018. Today the Minister for Innovation and Better Regulation Matt Kean announced a new set of reforms which will be brought into action. The reforms which were announced on Sunday, include the appointment of a Building Commissioner who will become the…

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    Peak body for the Queensland real estate profession The Real Estate Institute of Queensland is hosting two forums in Townsville on Wednesday 13 February to help all real estate professionals manage issues arising from the floods. REIQ CEO Antonia Mercorella said the REIQ Townsville Flood Forum was free to all Townsville real estate professionals and was designed to answer all…

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  • The long-awaited final report from the banking Royal Commission has been handed down. The report, received by the Morrison Government on Friday 1 February and released publicly Monday 4 February, has suggested sweeping changes to the industry and 76 actionable recommendations. Commissioner Kenneth Hayne’s final 530-page report and 76 recommendations have been welcomed by the Federal Government and Labor, who…

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    Yesterday (5 February 2019), the RBA Board decided to leave the cash rate unchanged at 1.50 per cent for its 26th consecutive meeting. “Inflation remains low and stable. Over 2018, CPI inflation was 1.8 per cent and in underlying terms inflation was 1¾ per cent,” said RBA Governor Dr Philip Lowe. “Underlying inflation is expected to pick up over the next…

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  • CoreLogic’s January home value index shows the property market in Melbourne and Sydney continued to fall, with all capital cities apart from Canberra recording a month-on-month fall in dwelling values. CoreLogic’s hedonic home value index shows a further 1.0 per cent decline in national dwelling values over the first month of 2019, taking the cumulative decline in Australian dwelling values…

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  • The annual REINSW Women in Real Estate (WIRE) conference will return for its 13th year on 26 March, with registrations open now. The conference brings together women across the industry and well-known local and international speakers for a day of professional development and personal motivation. WIRE 2019 will be held on 26 March at the Art Gallery of NSW. The…

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    In an Australian first, LIDA (Australasia) – Landlord and Investor Database for Agents – has developed a Landlord Report Card, giving property managers insight into landlords before they take them on as clients. Up until now, landlords have had the ability to swap and change agencies and property managers at will, with no information available to the new management on the…

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  • Several members of the real estate industry have been recognised in the 2019 Australian Day Honours, receiving recognition for the work they’ve done both for the industry and for their communities. 2019 saw 1,127 Australians recognised on the Australia Day list – the largest number in the history of the Order of Australia. Among those recognised were several members of…

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  • Homes in the designated neighbourhood boundary of some of Melbourne’s popular public primary and secondary schools are securing sale prices of up to $412,500 more than those just outside the zone, according to the latest REIV data. REIV President Robyn Waters said houses within some school catchment areas are hot property, because access to sought-after public schools is one of…

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