OPINION
-
2017 Budget preview – What’s in it for housing: Andrew Cocks
Scott Morrison’s 2017-18 Federal Budget would have to be one of the most anticipated in recent memory. Speculation about its content has generated enormous media coverage, as well as a lot of angst in response to the leaks and red herrings on the subject of housing affordability. It’s all the more remarkable given that the Commonwealth Government has limited means…
Read More » -
What to expect from the 2017 Federal Budget (for property people): Sarah Bell
Just like The State of Origin night, Budget night draws a crowd of millions as the nation waits in anticipation to see what plays will be made by the rainmakers in their pin-striped suits….OK, that last bit is a stretch (*total lie)…but this is the hottest budget we have seen for a long time – and mostly because of the…
Read More » -
Is a Price Guide Really the Answer? Haesley Cush
Last week in Victoria new legislation was released making it mandatory for agents to provide price ranges, or ‘statement of information’ forms, to all buyers. These forms will in most cases include what the agent deems to be three recent comparable sales. Consider that most agents are requested by their prospective vendors to show them that range before they chose…
Read More » -
Shiny Slums: Three light bulb moments from the RBA Decision
The first Tuesday of every month marks the day when the board of The Reserve Bank of Australia sits down with its coffee and Tim Tams to decide what to do with the official cash rate. It is the RBA’s job to regulate and issue monetary policy to “contribute to the stability of the currency, full employment, and the economic…
Read More » -
From Pubs to Penthouses: Bill Malouf
I grew up working in the family business in the hospitality industry. At 12 years old I would work during the school holidays picking up glasses, and then as I got older, I was given more responsibility. I really had to work my way up the ranks; I went from picking up glasses to working in the cellar, then behind…
Read More » -
Regional Queensland is the next hotspot for investors says Raine & Horne
Regional Queensland’s property affordability, high-yielding returns and low vacancy rates meant that it was time for investors to ditch Sydney and Melbourne and start looking at investing in the sunshine state, Raine & Horne Queensland said. Its general manager Steve Worrad said towns such as Rockhampton, Nanango, Bundaberg, Kingaroy and Hervey Bay had loads of quality rental properties as low…
Read More » -
Housing affordability – a simple problem with a complex solution: Rob Ward
The exponential growth of median prices in our capital cities over recent years has seen the issue of housing affordability permanently embed itself in the headlines. It’s a hot topic for consumers, the property industry and governments alike. Di Jones Real Estate CEO Rob Ward asks: how will future generations ever afford their own homes? “Housing out of reach”, “The…
Read More » -
Let foreign buyers purchase Australian properties like the good old days says iBuyNew
ASX-listed online property agency iBuyNew Group Limited said the federal government plans to restrict foreigners from buying more than half the homes or apartments in any new development will only discourage offshore developers from doing business in Australia. iBuyNew founder and chief executive Mark Mendel said the proposal pitched as one of a raft of possible measures in the May…
Read More » -
Tightening in everyone’s interest
Richardson & Wrench Managing Director Andrew Cox says property investors need to are going brace themselves as interest rates are on the way up – irrespective of any moves by the Reserve Bank or APRA. NAB’s and Westpac’s lift in rates to investors last week, preceded by the Commonwealth Bank in January, may just be the beginning of nastier surprises…
Read More » -
The interest rate decision and blaming the Kardashians for an impending economic crisis in Australia
The interest rate hold yesterday shows signs of a weak domestic economy, with household debt levels a significant factor. According to CoreLogic, the ratio of household debt to disposable income is at a record high of 186.9 percent. In other words, for every $100 we have to spend (after bills), we are spending $186.90! At that level, it is clear…
Read More » -
Foreign investors leaving investment properties vacant
The full impact of foreign investment on Australia’s housing crisis is yet to be seen across the Eastern seaboard according to Douglas Driscoll, CEO of Starr Partners. Scores of foreign investors are acquiring property in desirable metropolitan areas only to leave them uninhabited, estimating the number of unoccupied dwellings in Sydney to be more than 200,000.We know that the current affordability…
Read More » -
REIV chief: Concern for rental reforms
The state’s most disadvantaged tenants will be the hardest hit if proposed reform of the Residential Tenancies Act – the law that governs the rights and responsibilities of landlords and tenants – is adopted, says REIV chief Gil King. As many of the proposed reforms are designed to improve rental conditions for these very tenants, despite its intentions, the Andrews…
Read More » -
As the Saying Goes: Andrew Cocks
There’s a reason why some aphorisms and proverbs stick around for centuries. In a few choice words they express timeless nuggets of wisdom; truths that could apply to any number of situations or people. In this vein there are three much-used proverbs the new Premier of NSW might bear in mind as she puts her stamp on government. A new…
Read More » -
Has Your Business Lost Its Mojo?
When someone is on their game, the energy they exude is contagious. In the same way, when a real estate business is on its game you can feel it when you walk in the door – they are ‘on a roll’ and can do no wrong. But what if you’re not feeling refreshed and positive going into the new year?…
Read More » -
The Interest Rates Crystal Ball: Phil Rice
When it comes to the finance market, almost everyone has an opinion on what may happen over the coming 12 months with regards to interest rates. So who do you believe? How will interest rate increases or decreases affect your business? If you were to listen to the banks, they will tell you that their costs of funds are increasing…
Read More » -
An Old Dilemma with No Easy Answer: Andrew Cocks
The shock resignation of NSW Premier Mike Baird last month was illuminating in many ways, but most especially in its stark illustration of what will be an increasing demographic trend over the next couple of decades. And yes, it will have an impact on real estate, says Richardson + Wrench MD Andrew Cocks. Baby boomers reshaped whole economies when they…
Read More » -
Veteran developer Harry Triguboff believes apartment prices may rise this year
The increase in house values in Sydney will only produce a flow-on effect on for apartment prices for the year said veteran developer and Meriton group founder Harry Triguboff. Triguboff who has built more than 70,000 apartments to date said that high house prices were driving demand for apartments from owner-occupiers and tenants, resulting in stronger than expected gains already…
Read More » -
Three ways to solve the housing affordability crisis
Grant Harrod from LJ Hooker outlines three ways in which the New South Wales state government can address the much talked about housing affordability crisis for Sydneysiders who badly want to own a home. The appointment of Gladys Berejiklian as NSW Premier and her suggestion to review all options to address housing affordability should provide some optimism for a generation…
Read More » -
Increasing professional standards a priority: REINSW
Increasing professional standards in the real estate industry has been recognised by agents and industry leaders who attended the Real Estate Institute of New South Wales’ fourth annual Industry Summit last month, as a priority. REINSW President John Cunningham said over 100 delegates gathered at the Sydney Opera House on 24 November 2016 to discuss and debate ‘The Path to…
Read More » -
CoreLogic December 2016 Property Outlook: Tim Lawless
CoreLogic have released their property market outlook for December 2016 which includes valuable market insights from Head of Research Asia Pacific, Tim Lawless on the current trend of investment activity, growth values, affordability and interest rates heading into 2017. CAPITAL CITY PROPERTY VALUES UP BUT SLOWING Capital city property values increased by 0.2 per cent in November, according to the…
Read More » -
List Sell Negotiate 2016 Takeaways: Craig Fine
Maintaining a hunger for learning is what sets apart the great agents in our industry. We asked Craig Fine from Sydney Sotheby’s International Realty to be our roving reporter at Josh Phegan’s List, Sell, Negotiate. Here he shares his top 10 takeaways from the event for agents, like himself, who are starting out but have a passion to achieve. 1.…
Read More » -
Property Market Forecast, Sydney 2017: Douglas Driscoll
Sydney’s property market could be set for change in 2017 according to Douglas Driscoll, CEO of award-winning real estate group Starr Partners. Read his forecasted market trends for Sydney for 2017. Rate hikes on the horizon. There are already conversations bubbling over a possible rate rise in 2017 and I can almost guarantee that the banks will increase rates again…
Read More » -
Rates to hold in December, before rising in 2017: RateCity
Official interest rates are poised to hold at the historic low of 1.50 per cent when the Reserve Bank Board meets this Tuesday, according to analysis by RateCity.com.au However, their study of over 30 key economic indicators suggests the easing cycle has ended with Peter Arnold, data insights director at RateCity.com.au suggesting the chances of a rate hike in 2017…
Read More » -
Keep-Start-Stop: The self-assessment technique that leads to growth
Manos Findikakis of Agents'Agency explains how the Keep-Stop-Start method works.
Read More » -
Humans of Real Estate
An issue that seems to continually create division in the industry is that of equality between men and women or depending on your viewpoint, a lack thereof. On the female side there are many keen champions of the cause to celebrate and support female success, but does this ‘impact’ their overall achievements as ‘humans of real estate’? And, are we…
Read More » -
Energy efficient practices to recommend to vendors: Douglas Driscoll
Improving the energy efficiency of a home could reduce its carbon footprint and help improve its sale value, according to Douglas Driscoll, CEO of award-winning real estate group Starr Partners. Australia is the world’s largest carbon emitter per capita1 but Douglas believes that not enough is being done at the top level through policy and greater consumer awareness to reduce…
Read More » -
November Outlook: Cameron Kusher, CoreLogic
The CoreLogic Home Value Index showed that in October 2016, combined capital city home values rose by 0.5%. CoreLogic estimates that as at the end of October 2016, the total value of residential property nationally was $6.7 trillion. Adelaide and Hobart were the only capital cities in which values fell in October. Over the three months to October 2016, combined…
Read More » -
Planning For the Best, Protecting From the Worst: John Knight
No one knows what’s around the corner with the Australian economy, but instead of planning for the worst and hoping for the best, Business Depot CEO John Knight suggests doing things a little differently. The real estate agencies who are ahead of the game are already looking to the future and are scouring their business models to identify strategies they…
Read More » -
Trump: There is Nothing Certain But the Uncertain, says Tim Lawless
A new leader of the world’s largest superpower will always be accompanied by uncertainty, however the election of Donald Trump highlights (in the words of another Donald (Rumsfeld)) that “unknown unknowns” have been amplified. This means uncertainty. Trump is untested, unproven, and if the election campaign is anything to go by, spontaneous. While Trump’s acceptance speech seems to have calmed…
Read More » -
How the US election will affect the property market: LJ Hooker
Today, as the world watched the US election unfold, LJ Hooker Head of Research, Mathew Tiller gave us some preliminary thoughts on the impact of a Trump win on the Australian commercial and residential property market. Says Tilley, “Nearly all parts of the Australian economy are intrinsically linked to the performance of the US; our equity markets take their direction from…
Read More » -
When Does Customer Service Really Start: Mark McLeod
So much is written and discussed about customer service in our industry, says Mark McLeod, but the question is: when does someone start being our customer, and where – if ever – does it finish? At a recent international conference, I attended with a team from Ray White, this very topic was a major discussion point. I can’t help but…
Read More » -
Are Buyers Harder to Please than Sellers?
Core Logic RP Data have just released their Buyers Perceptions of Real Estate Agents 2016 report and it provides some interesting reading. A companion to the 2015 Vendor Perceptions of Real Estate Agents, the report delivers key insights into how buyers rate agents in terms of quality of service and value. Here, Kylie Davis gives an overview of key findings from…
Read More » -
What’s the market up to? Which market is that?
Property market observers are mentioning an apparent shortage of property listings through the spring selling season this year. Reserve Bank of Australia governor, Philip Lowe, has said that inflation is likely to remain low until the economy is such that it generates enough jobs to stimulate strong growth in wages. Until we get past the end of the mining boom…
Read More » -
Real action needed to address housing affordability, says Grant Harrod
The sustained growth in house prices in the major east coast metropolitan markets is creating a housing affordability crisis that can no longer be ignored by both state and federal political leaders, according to LJ Hooker’s CEO Grant Harrod. The average house price now costs 12 times the average salary (20 years ago this was only four times) and with…
Read More » -
Don’t let your clients be fooled by auction clearance rates
Signs that Sydney’s property market is booming should dismissed with clearance rates being partly responsible for skewing market perceptions according to Douglas Driscoll, CEO of award-winning real estate group Starr Partners. Agents need to remember that auction clearance rates cannot be considered the sole barometer for how the market is performing. Part of the role as an agent is to…
Read More »