INDUSTRY NEWS
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Prices forecast to decline as much as 10pc in 2023: PropTrack
A new report from PropTrack shows that property prices are on track to decline by between seven and 10 per cent in 2023, with faster-than-anticipated interest rate rises to blame.
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Most economists are tipping a rate rise in February, but how much further will the RBA go?
Most economists are tipping a 25 basis point increase to the official cash rate after the Reserve Bank of Australia meets for the first time in 2023.
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Latest lending figures could be bad news for the rental market
A property expert says a decline in new investor lending could be a sign that the rental crisis is set to get worse following the release of the latest ABS lending data.
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Propic hits the nation’s capital with Luton introducing AI
A forward-thinking Canberra real estate agency has introduced market-leading artificial intelligence to ensure 24/7 customer service and that no potential sales or property management lead is missed.
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Renters feel the pinch as vacancy rates drop back to record lows
There’s still no relief in sight for renters with vacancy rates returning to record low levels across the country.
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RBA expecting up to 800k fixed-rate loans to end in 2023
A senate committee looking into cost of living of living pressures has shed light on the size of the anticipated 'mortgage cliff' set to test the property market in 2023.
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Young buyers consider teaming up for first purchase
New research from NAB has found that 40 per cent of young Australians would consider buying property with someone other than a romantic partner as a way to get their foot on the property ladder.
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Jimmy Burgess’s $500 million sales strategy
Top US real estate agent Jimmy Burgess has shared the secret to his success, outlining the strategy he used to generate more than $500 million in sales.
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NZ records 10th month of property value declines
Property values across New Zealand fell 0.3 per cent over January, continuing a downward trend that's lasted 10 months.
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Pace of property value declines eased in January, new data shows
The rapid pace of property price declines appears to have slowed, with most capital cities recording only a moderate decline in values during January, new data from PropTrack shows.
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Return of overseas students could place further pressure on rents
An anticipated increase in the number of overseas students coming to Australia following the Chinese Government's edict that students must return to face-to-face study could lead to rent rises of five per cent or more, one expert predicts.
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South Australia notches a new record despite declining sales
The South Australian property market posted a record new median price during the December quarter despite a decline in the volume of sales, the Real Estate Institute of South Australia says.
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REACH Australia announces class of 2023
Second Century Ventures, the strategic investment arm of the National Association of Realtors and the most active global real estate technology fund, has announced the acceptance of eight companies to the 2023 REACH Australia program.
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Auction action: What happened over the weekend and what’s in store for 2023
Auctions are back after the summer holiday break, although activity remains subdued in Australia's major cities.
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Brisbane property prices fall by a record 10.9 per cent
After property prices in Brisbane boomed by more than 40 per cent during the pandemic, values are now falling at a record-setting pace.
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If Australia follows the US into a tech downturn, these areas will be the most impacted
We may be in a cost of living crisis but we are certainly not in an employment crisis.
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Agents report strong buyer numbers
There might be a lot of talk about the property market downturn but Sydney and Melbourne agents have noted buyers are flocking to properties and this is translating to sales.
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Zillow’s new AI-powered tool finds your perfect home with one sentence
US listings portal Zillow has launched a new AI-powered feature that lets prospective buyers search for homes in the same way they would describe it to their friends and family.
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Keller Williams lawsuit: Is this the end of cold calling?
US real estate firm Keller Williams has agreed to pay US$40 million as part of a settlement agreement after it faced a class action lawsuit alleging it had violated the Telephone Consumer Protection Act, raising questions about the viability of cold calling.
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Rupert Murdoch to sell Realtor.com
Rupert Murdoch’s News Corp is looking to sell the parent company of Realtor.com, with the news breaking just hours after it became clear his plan to combine the news company with Fox Corp had been scrapped.
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New Zealand inflation figures remain stubbornly high
The latest New Zealand Consumer Price Index readings indicate the Reserve Bank of New Zealand is likely to opt for a 0.75 per cent increase to the cash rate when it meets next, a leading economist says.
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Bel-Air canyon price tag slashed by 70 per cent
An undeveloped golf course-sized patch of land in one of Los Angeles' ritziest neighbourhoods is on the market at a 70 per cent discount on its original asking price.
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December quarter inflation figures higher than expected
The Consumer Price Index rose 7.8 per cent in the 12 months to December, higher than the predicted 7.5 per cent, raising the likelihood that the Reserve Bank of Australia will hike the cash rate in February.
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Property price declines losing pace, Domain says
Property prices declined at a slower rate during the December quarter according to Domain, in a sign that the current downturn may be losing momentum.
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Tennis courts a hit with buyers as Australian Open reaches full swing
Buyers are increasingly searching for properties with a tennis court, according to new data from Domain, though suitably-equipped properties are in short supply.
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Queensland’s vacancy rate inches higher in December quarter
The Sunshine State's rental market remains incredibly tight despite a slight uptick in vacancy levels during the December quarter, a new report from the Real Estate Institute of Queensland shows.
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Ray White Surfers Paradise’s The Event sees 94 properties go under the hammer
Ray White Surfers Paradise's annual The Event auction saw a clearance rate of 59 per cent, with 302 registered bidders and more than 1200 attendees.
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Louise Schofield joins PMVA to elevate property management success
Industry authority Louise Schofield has joined real estate outsourcing company PMVA, aiming to create better workplace culture, more streamlined workflows and a better customer experience for property management businesses.
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REIA announces finalists for National Awards for Excellence 2023
The Real Estate Institute of Australia has published its 2023 finalist list the REIA National Awards for Excellence (NAFE), which will be held in Perth on March 9.
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Queensland ranked number one state economy by CommSec
An uptick in sea and tree changers heading north has led to Queensland being ranked the best-performing state economy for the first time in the 13-year history of CommSec’s State of the States report.
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Residential land prices stabilise after 26 per cent surge
The cost of new residential land has stabilised following a strong two years of growth, with rising interest rates the key reason, according to the Housing Industry Association.
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One in two property markets declined in 2022: CoreLogic
Record high inflation, rising interest rates and weak consumer sentiment are leading to falling home prices, with new data showing that one in two markets declined in value in 2022
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Our favourite new tech ideas from CES 2023
The annual Consumer Electronics Show in Las Vegas was back with a bang this January, with no shortage of new tech ideas that could help give agents the upper hand.
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Katie Lance: 3 social media predictions for 2023
Real estate agents should focus on three key areas when it comes to social media in 2023, according to US social media expert Katie Lance.
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Million Dollar Bogan raises $35,000 for mental health support
Geelong real estate agent and Big Brother star Daniel Hayes has helped raise $35,000 for telephone crisis support organisation Lifeline, with his charity motorcycle ride.
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