INDUSTRY NEWS
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Australia’s growth cycle tapers as housing becomes less affordable
Australian housing values increased a further 1.6 per cent in July, according to CoreLogic. …
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Perth buyers soak up listings despite wet conditions in July
Perth's wet weather hasn't dampened buyers' interest, according to REIWA. …
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Rex Software celebrates 10 years servicing the real estate sector
The year was 2011. The iPad was in its infancy, Prince William was busy marrying a gal called Kate Middleton and technology played a much smaller role in real estate. In fact, real estate tech at the time tended to involve a mass of broad and disconnected systems where double handling was par for the course and repetitive, manual data entry was the bugbear of many an agent and their long-suffering admin team. …
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The ATO warns property investors to be aware of common tax return traps
The Australian Taxation Office (ATO) reminded property investors to look out for common tax return mistakes that can delay refunds or lead to an audit, costing taxpayers’ time and money. In the 2019-2020 financial year, over 1.8 million Australians owned rental properties and claimed $38 billion in deductions. Assistant Commissioner Tim Loh said that the most common mistake rental property and holiday homeowners make is neglecting to declare all their income. …
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Sydney lockdowns could cause another Australian recession
68 per cent of Finder's surveyed experts believe Sydney's extended lockdown could be a catalyst for another recession in Australia. …
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PropertyMe celebrates reaching 4500 subscribers and 1.3 million properties
lian property management software company PropertyMe has surpassed their milestone of 4500 agency subscribers and is now used to manage over 1.3 million properties. …
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Auction volumes steady, clearance rate rises
This week’s preliminary clearance rate has edged higher and volumes remain on par with previous weeks, despite the fact more than 250 of the anticipated 2077 auctions for this weekend were rescheduled to a later date. …
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Darren Cole launches Cole + Yarrow with co-founder Craig Yarrow
Darren Cole has launched Cole + Yarrow with co-founder Craig Yarrow …
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Sydney and Melbourne are the only capital cities with declining rental markets
REIA president Adrian Kelly said Sydney and Melbourne saw rents fall slightly, while other capital cities saw rents increase …
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Gap between median house and unit prices breaking records
The price premium of houses over units has continued to emerge since March last year, as stage two restrictions rolled out across the nation. …
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Pandemic fuels regional migration and pushes property prices up
Across the country, prestige and regional markets have seen incredibly positive results over the past year, but other areas have also experienced prominent changes. …
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More than half of property managers have dealt with domestic violence in tenancies
The Real Estate Institute of Australia (REIA) surveyed property managers earlier this month about their dealings with domestic violence issues while on the job. The survey found 57 per cent of property managers have coped with domestic violence in tenancies over the past 12 months, with 30 per cent managing such issues two or three times each year. REIA President Adrian Kelly said 55 per cent of survey respondents believed toolkits would help support them. …
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CoreLogic NZ expects mortgage lending volumes will ease
CoreLogic New Zealand (NZ) has tipped lending activity will slow down over the coming months with mortgage rate increases on the horizon. This comes despite property sales activity remaining solid in June. CoreLogic NZ Chief Property Economist Kelvin Davidson said it was interesting that first-home buyers had a monopoly on mortgage lending with less than a 20 per cent deposit. However, …
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REI Super ranked eighth best performing fund across Australia
REI Super was ranked the eighth best performing super fund by the Australian Financial Review for the last financial year. …
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Most millennials believe the housing market needs more regulation
The majority of millennials (70 per cent) believe the housing market should be more heavily regulated, according to HomeLoanExperts.com.au. …
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Western Australian regional centres enjoy a spike in house prices
Eight of WA's nine regional centres have experienced growth in median house sale prices throughout the June 2021 quarter. …
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Overseas investment in US homes falls to the lowest level in a decade
Overseas buyers purchased US$54.4B worth of existing homes in the US from April 2020 through March 2021. This was the lowest level in a decade. …
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Industry leaders respond to Labor’s negative gearing pledge
ALP leader Anthony Albanese has pledged his part will not restrict negative gearing or increase capital gains tax if they win the next election. …
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Investors and owner-occupiers leap onto the booming Gold Coast market
While owner-occupiers want to downsize, investors are focused on the Gold Coast in the wake of historically low rental vacancy rates. …
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Why current restrictions will have different impacts to Melbourne’s 112-day lockdown last year
Ray White chief economist Nerida Conisbee has analysed the parallels between Melbourne's 112-day lockdown last year and what is happening across Melbourne, Sydney and Adelaide now in terms of property listings and sales. …
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Australian residential auction market records the busiest period in four years
The three months to June proved the busiest auction period since December 2017, according to new insight from CoreLogic. …
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Demand from South Australian residents drives Adelaide’s price growth
Adelaide's real estate market grew by almost 14 per cent over the last financial year, according to Raine & Horne. …
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Luxe Listings Sydney star Gavin Rubinstein is the first Ray White agent to reach ‘elite’ status this financial year
Luxe Listings Sydney star Gavin Rubinstein has kicked off the new financial year on a very high note. …
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Auctions continue to net higher prices: Ray White
Regardless of whether they occur online or on site, auctions are more likely to result in a higher property sales price, according to new data from Ray White. …
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Fewer properties taken to auction due to multiple lockdowns
There were 1849 homes taken to auction across the combined capital cities this week, resulting in a preliminary clearance rate of 74.8 per cent this week. …
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New Zealand hits a turning point in the property investment market
The recent uptick in mortgage interest rates is yet another influencing factor in the New Zealand residential property investment landscape, with CoreLogic suggesting the market is close to a significant turning point. …
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REA celebrates National Property Managers Day
REA Group has commended its property manager customers across the country on the second National Property Managers Day. National Property Managers Day encourages agencies, landlords and tenants to publicly celebrate the efforts of outstanding Property Managers who play a significant role in Australia’s real estate industry. REA Group executive manager of Rent, Jarrod Scott commended the Real Estate Institute of New South Wales (REINSW) for leading the National Property Managers Day initiative and other state and territory Real Estate Institutes for their support. …
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EVENT sells $79.6 million of commercial property, cinemas reeling from lockdowns
EVENT Hospitality and Entertainment, best known for the Event Cinemas franchise, has sold $79.6 million worth of non-core property assets. …
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Building trust is the secret weapon to winning listings
New research from marketing automation platform ActivePipe has revealed the extraordinary power that staying connected and building trust has in helping agents win new listings. The Trust Report: What consumers want from real estate agents examined the factors that influence how people choose a real estate agent and what builds trust and drives loyalty, from deep-dive research with 124 property owners, …
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Low interest rates not solely responsible for property price growth
New analysis from the Property Investment Professionals of Australia (PIPA) has found that property price growth is less dependent on low interest rates than commonly believed. …
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Record low vacancy rates continue to impact Queensland
Nearly two thirds of local government areas in Queensland have recorded their lowest or equal lowest residential vacancy rates since 2010 as the state's rental market continues to tighten. …
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REA offers an insight into what’s changed in property management in the past 12 months
Record rental inquiries, digital inspections, and legislative changes...aside from the ongoing impacts of lockdowns there's a lot going on in the rental and property management space. REA Chief Consumer Product Officer Val Brown explains how the group is catering to the shift with an update on REA's rent strategy. …
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CoreLogic launches their digital RP proposals platform
CoreLogic has launched RP Proposals, a new digital solution that aims to streamline the real estate industry. …
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Celebrating National Property Managers Day
National Property Managers Day is July 23, raising awareness of the challenge property managers face and celebrating their hard work. …
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What the 2032 Olympic Games means for Brisbane’s property market
CoreLogic Asia Pacific research director Tim Lawless believes the 2032 Olympics should work as a positive influence on the Brisbane housing market. …
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