Industry News
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Sydney kicks off 2020 with increase in rental vacancy
Vacancy rates increased in Sydney during the month of December, rising 0.2% to 3.4%. This is particularly evident in Sydney’s Inner Ring where rates increased from 2.4% to 3.4% suggesting tenants are experiencing a rise in availability across the metropolitan areas. In the Middle and Outer Rings rates dropped suggesting these areas are proving more…
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Victorian property market sets new records
House values in metropolitan Victoria have surpassed $850,000 for the first time as the state continued its strong run, smashing price records in the December 2019 quarter. The results come on the back of two consecutive quarters with growth of more than 3 per cent each, according to the latest Real Estate Institute Victoria quarterly…
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Best regional towns for annual price growth revealed
New research has identified the best major regional locations for average annual house price growth over the past two decades. The in-depth analysis by property market research firm and buyer’s agency Propertyology found that, contrary to popular opinion, many towns across the country produced median house price growth as robust as capital cities over the…
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REA Group unveils national event series
REA Group will bring thousands of its customers together at a unique new industry event series to be held in Melbourne, Sydney, Brisbane, Adelaide and Perth this year. Prop20, to be held throughout March and April, will give agents, property managers, developers and marketing teams with access to leading industry experts, while allowing REA customers…
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Top 20 locations house prices tipped to rise most in 2020
Tasmania is leading the way for median house price rises in 2020 – one of several locations across the country tipped to record a rise of up to $200,000, according to new research. The analysis by SuburbGrowth.com.au – part of the Select Residential Property Research Group (SRP) – identified the top 20 locations where median…
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Console Cloud integrates with Victorian forms provider
Australian software firm Console Australia has integrated Victorian forms provider Forms Live with Console Cloud in a move that will save real estate professionals across the state significant administration and double-handling of data. Console Cloud is Console’s flagship SaaS enterprise software product, providing trust accounting, property management and real estate software in Australia and New…
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First home buyers back at highest level in almost a decade
First home buyers are making the comeback of a decade with new figures showing the highest level of new lending in almost 10 years. The latest Australian Bureau of Statistics figures show a 19.71 per cent increase in the value of new owner-occupier loans taken out in November, year-on-year in seasonally-adjusted terms While investors slipped…
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Domain supports agents in bushfire-affected areas
Property marketer Domain Group is offering a package to support real estate agents who have been affected by the nationwide bushfire crisis. Domain said the package was open to any customers who were operating within affected bushfire areas and experiencing a negative impact on their business as a result. "It’s hard to comprehend the scale…
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Real Estate industry unites to support victims of the bushfire crisis
Within days of launch, almost 30 real estate industry brands have united behind the Beyond the Bricks campaign as part of an industry-wide response to the devastation caused by the bushfires. With a focus on a three-phase response that encompasses the pillars of 'relief, rebuild, restore', the group has already pledged more than $900,000 with…
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Bushfires may intensify housing shortage
The bushfire crisis is likely to further impact the already tough housing market in regional Victoria, according to the REIV. Fierce fires continue to ravage Eastern Victoria, with over 75,000 private dwellings under threat. Meanwhile, locals will soon return to their homes and try and rebuild their lives. REIV President Leah Calnan said, with many…
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REA Group joins the global support of Australia’s bushfire relief efforts
As Australia’s bushfire crisis continues, REA Group is introducing relief initiatives to help provide assistance to those affected by the devastation. REA Group CEO, Owen Wilson said like all Australians, the REA had been shocked and saddened by the overwhelming impact Australia’s bushfires are having on local communities and the environment. “We know nothing can…
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Knight Frank appoints new Head of Queensland
Knight Frank has appointed Shaun Witherow as its new Head of Queensland. Mr Witherow has been acting Head of Queensland since October, with the role becoming permanent from December 16 following a thorough internal and external recruitment process. He was previously Knight Frank Queensland’s Head of Asset Management Services (AMS) and has been with the…
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Research shows consumers prefer SMS marketing
New Australian research shows nearly three-quarters of consumers say an SMS message from a business is more likely to get their attention than email or an app notification. Mobile business messaging provider MessageMedia said around the world, many businesses are already reaping the benefits of SMS-driven customer interactions, as demonstrated by the incredible growth in SMS statistics.…
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Sydney auction clearance spike positive for Gold Coast
The emerging recovery of Sydney’s property market is good news for the Gold Coast as it heads into the peak selling season, according to Ray White Surfers Paradise CEO Andrew Bell. With auction clearance rates in Sydney posting their best November results since 2016, Mr Bell said the Gold Coast is in line for its…
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REIA re-elects President for second term
The Real Estate Institute of Australia (REIA) re-elected Adrian Kelly from Tasmania as President for a second term at its Annual General Meeting in Canberra in last week. Mr Kelly was born and raised in Hobart and has worked in the Tasmanian real estate industry since 1990. He is the founder and CEO of View…
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Lenders sign up to First Home Loan Deposit Scheme
Twenty-seven lenders have now been endorsed to participate in the First Home Loan Deposit Scheme in the lead up to the scheme starting on 1 January 2020. The scheme, which will provide support for up to 10,000 first home loan guarantees for eligible first home buyers each financial year, aims to help first home buyers…
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Top 10 Sydney suburbs to watch in 2020
1. KensingtonJust a stone’s throw away from the CBD and Centennial Park, and with the University of New South Wales on its doorstep, Kensington ticks all the boxes for buyers looking to live near the city and Sydney’s eastern beaches. The long-awaited light rail network, set to open this week, will see interest in the…
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Sydney and Melbourne drive housing recovery
Australia’s two largest capital cities are leading a housing recovery, according to the Real Estate Institute of Australia. REIA Real Estate Market Facts for the September quarter 2019 said the weighted average median price for houses for the eight capital cities increased to $743,776. REIA President Adrian Kelly said the increase was driven by the…
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Beyond Blue and HIA continue mental health push
Beyond Blue and the Housing Industry Association (HIA) have extended their partnership to continue supporting the mental health of people working in the residential building industry. HIA Managing Director, Graham Wolfe, said for five years the HIA Charitable Foundation has supported Beyond Blue in improving access to mental health resources for people in the building…
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Jamie Durrant launches Regional Homes Australia
Essentials Magazine Australia editor, Jamie Durrant, has launched a digital property and lifestyle magazine, along with a property marketing service. Entitled Regional Homes Australia, the online publication will feature building, design, regional personalities, lifestyle experiences, and curated Australian residential real estate listings. As the name suggests, Regional Homes Australia focuses on properties situated outside of…
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HTW monthly update – Property prices deliver strong end to 2019
As 2019 draws to a close Herron Todd White have assessed where the nation's property markets currently sit and how their predictions stacked up over the course of the year. We saw a slow start for property in 2019 thanks to an uncertain regulatory environment and the federal election which had big implications for property…
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The major changes in our cities that will kick off the 2020s
A drop in car ownership, smaller houses, walkability impacting property prices, residential blocks atop shopping centres, and ‘mini Melbournes’ in outer suburbs. These are the city trends that will begin to emerge next year and mark the commencement of a new decade in urban planning. The forecasts come from one of Australia’s most experienced, recognised…
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Victorian Government opens doors to 100 new homes for those in need
Tenants once at risk of homelessness have begun moving into 100 new and affordable homes thanks to the Victorian Government. Victorian Minister for Housing Richard Wynne visited some of the new properties in Moonee Ponds and met residents this week. “Everyone deserves the safety and security of a roof over their head. This program is…
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Prime waterfront properties command 63 per cent premium
Prime absolute waterfront properties in Australia are worth up to 63% more than their inland counterparts on average, according to Knight Frank’s latest Australian Prime Waterfront Index. The Index, which measures how much uplift value an absolute waterfront location can add to a property, found the premium was the greatest in Sydney, with up to 94.9%…
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Lack of family homes driving prices skyward
An imbalance in supply of family homes to population growth is a major contributing factor to housing affordability challenges in Sydney and Melbourne. A 30 per cent reduction in dwelling commencements and dwelling approvals was predicted by RiskWise Property Research one year ago, with significant impact on both the broader economy and, particularly, GDP growth. RiskWise CEO…
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REIQ announces Awards for Excellence finalists
The Real Estate Institute of Queensland has announced the finalists in its 2020 Awards for Excellence which recognise best practice in the real estate profession in the Sunshine State. REIQ CEO Antonia Mercorella said the competition is set to be fierce, with 106 finalists across varying individual, agency and external categories. "We are continually heartened…
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Affordability prompts highest number of first home buyers
Housing affordability has improved across the country resulting in the highest percentage of first home buyers in the marketplace in eight years, according to research from the Real Estate Institute of Australia. REIA President Adrian Kelly said the September quarter 2019 edition of the REIA Housing Affordability Report found housing affordability improved in all states and territories, except Tasmania,…
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The RBA leaves rates on hold at 0.75% at December meeting
The Reserve Bank of Australia has left the official cash rate on hold at 0.75 per cent in the final meeting of the year. Headed into today’s announcement, there was only a five per cent chance of a cut to the cash rate. We’ve already seen three 25 basis point cuts this year, however, there…
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Perth dwelling value records first rise since April 2018
CoreLogic's November Home Value Index has revealed that Perth's dwelling value has increased 0.4 per cent in the last month - the first increase in over 18 months. REIWA President Damian Collins said that while the rental market has been the highlight of 2019 due to steady leasing activity levels and a plummeting vacancy rate,…
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A third of Australians choose overseas travel over a home
When asked to choose between being well travelled or owning a home, one in every three Australians values travel over home ownership. That was the key finding from ME’s recent travel survey which explored how important travel is to Australians. The trade-off between buying a home and exploring the world was far more apparent among…
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Money magazine names best financial providers for 2020
Australians could save more than $180,000 by switching to financial product providers that have been named winners of Money magazine’s Best of the Best Awards for 2020. More than 100 winners were named across financial services including credit cards, term deposits, banking, loans, superannuation, insurance, investments and online broking; as well as personal and business…
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Partnership to help home hunters get best mortgage rates
Social property app Sohoapp.com has partnered with Westpac-backed uno Home Loans so homebuyers using the app can check if their home loan is competitive, and how much they could save by refinancing. Sohoapp.com founder and CEO Jonathan Lui said the company is launching uno’s loanScore and mortgage calculator products throughout its platform. “Our mission is…
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Eview celebrates top performers and a year of success at annual awards
The Eview Group has celebrated a year of growth and achievement, recognising its top performers and standout agents at their annual awards night on Saturday. Held at the Victoria State Library with over 250 guests in attendance, the evening offered the opportunity to mark the milestones of the year gone by and look to the…
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RISE2020 – A conference with a conscience
A stellar line-up of some of real estate’s top performers will gather in Melbourne next April to put their weight behind a new initiative to support good mental health. RISE2020 is more than just a real estate conference. It’s a conference with a conscience. Proceeds from the event will go towards seed funding for a…
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12 Sydney property market predictions for 2020
1. Property owners will continue to sit on their handsListings will continue to be at relatively low levels as a significant proportion of property owners will wait and 'time the market' until they are certain prices have peaked again. For this reason, Sydney property buyers might be rewarded with more stock at the end of 2020.…
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