INDUSTRY NEWS
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Mortgages cheaper than rents in over half of Australian suburbs
A new report from Aussie and CoreLogic shows that it is cheaper to pay down a mortgage than to pay rent on a comparable property in over half of Australia's suburbs.
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Australians are building the biggest houses in the world
Australia is again building the biggest houses in the world, pushing ahead of the United States, according to the latest CommSec Home Size Report. The average new house built in Australia in 2019/20 was 235.8 square metres, up 2.9 per cent on the year and the biggest increase in 11 years. Conversely, American houses are shrinking, with sizes falling for…
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How to avoid property scams as the market returns to life
With auction levels beginning to strengthen and state borders beginning to re-open, now is the time to make the most of clients looking to buy and sell. Technology can make it easier to facilitate a property deal, however your client may have concerns when it comes to security. The good news is, as with most things, some technologies are better…
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Clearance rate holds firm as volume continues to increase
The preliminary clearance rate continues to hold firm, reaching 73.2 per cent on the back of higher volume this week, with CoreLogic noting there appears to be momentum building in the property market. Their data indicates 1758 homes were taken to auction across the combined capital cities this week, which is slightly higher than the previous week when 1747 auctions…
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Canberra leads the slow return to CBDs
The latest survey of CBD office occupancy by the Property Council of Australia shows that workers are slowly returning to city offices, although uptake is slower than ideal.
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Mining and remote work drive the COVID-19 regional shift
An in-depth report from realestate.com.au paints a compelling picture of a mass exodus from cities.
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Outback NSW blocks sell for $1 at auction
Eighty properties dotted across far-west of regional NSW went under the hammer last weekend, with some landlocked blocks selling for a dollar. The property was situated in Broken Hill, Ivanhoe, and Wilcannia, among other areas. Prices spanned from $35,000 -- for a house and land package in Wilcannia, to one…
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Banks start accepting further First Home Loan Deposit Scheme applications
The Housing Industry Association (HIA) welcomes the news that banks will start accepting loan applications for the New Home Guarantee under the First Home Loan Deposit Scheme. "The emphasis on new builds and an increase on the price caps for new homes means that it has never been a better…
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Home loans dive under 2 per cent, with all eyes on the big four
Sally Tindall, research director at RateCity.com.au, said all eyes were now on the big four banks, which hold around three quarters of home loans in Australia."A rate cut has the potential to put $33 per month back in the hands of the average mortgage holder, that's almost $400 per year,"…
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Cash rate cut will improve housing affordability – if banks get on board
The RBA's decision to cut the official interest rate to a historical low of 0.10 per cent will improve housing affordability.
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Cash rate cut to new historic low
The Reserve Bank of Australia have cut the cash rate by 15 basis points to a new historic low of 0.10%.
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HomeBuilder is working for now, but a second cliff is up ahead
A 15.4 per cent leap in the number of dwelling approvals and a 25.3 per cent rise in the value of housing construction loans during September shows the effectiveness of the HomeBuilder program.
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A fifth of Aussies in a better position to buy a house thanks to COVID-19
A fifth of Aussies in a better position to buy a house thanks to COVID-19 New research has revealed around half of Australians are planning home ownership within the next year, but what they are looking for in a new home is shifting as a result of COVID-19. “The CUA…
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REIQ appoints two new board directors
The Real Estate Institute of Queensland announced the appointment of two new directors to its board.
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Dwelling approvals and construction loan commitments surge
The number of dwellings approved rose 15.4 per cent, according to ABS data released today.
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‘Bureaucratic inefficiencies’ keeping real estate agents unemployed
The Real Estate Institute of NSW has hit out at Fair Trading for bureaucratic inefficiencies that are keeping hundreds of fully-trained real estate agents in NSW "forcibly unemployed."
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Australian housing values are rising, after five months of declines
Following what CoreLogic refer to as "five months of consistent declines in residential property values", the national home value index is now showing positive month-on-month growth through October, posting a 0.4% rise in housing values.
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REINSW crowns its 2020 award winners
The Real Estate Institute of New South Wales has recognised outstanding achievements, crowning the winners of its 2020 REINSW Awards for Excellence. Now into its third decade, the REINSW Awards for Excellence is the most prestigious and respected industry awards event in New South Wales, recognising the best, bravest and brightest work across the real estate industry. REINSW President Leanne…
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Clearance rate at highest point since pre-pandemic
The preliminary clearance rate has hit its highest peak since the start of the coronavirus pandemic, coming in at 77 per cent on the back of volume that has exceeded both last week and last year. This week, CoreLogic notes 1757 homes were taken to auction across the combined capital…
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RBA to make second rate cut, say experts
This Tuesday is Melbourne Cup day, but the real punters will be watching the Reserve Bank of Australia that afternoon, as experts tip that the RBA board will announce a second rate cut for 2020, at the final meeting of the year. In the Finder RBA Cash Rate Survey, 29 of the 43 experts and economists predicted a rate cut announcement…
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Property developers and investors make AFR Rich List
Three moguls who have made their fortune in the property game appear in the top ten of the annual AFR Rich List, which was published in full today.
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HIA wins SafeWork NSW award for pandemic initiatives
The Housing Industry Association has been announced as the winner of the 2020 SafeWork NSW Awards for "outstanding work health and safety support to members in the changed working environment due to COVID-19." The 2020 SafeWork NSW Awards recognise excellence and innovation in work, health and safety response to COVID-19,…
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Inside the Hobart housing boom
Being a beautiful island state has never been so advantageous for Tasmania – and its capital city’s booming property market. “There’s no doubt that we’ve been the beneficiaries of the pandemic,” explains Matthew Chugg, department manager of residential sales for Knight Frank, Tasmania. With their offices located in the heart of Hobart, just a Tassie Devil’s whirl away from the…
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Sydney house prices rise as units fall, marking largest price gap on record
Sydney housing prices took a massive tumble in the June quarter, losing close to $22,000 off the median price.
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Hobart house prices to leapfrog Adelaide, as Darwin moves past Perth
Domain's latest House Price Report has revealed the Australian housing industry has largely bounced back, with all capital cities aside from Melbourne recording house price growth over the September quarter.
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Green Building Council takes steps to eliminate natural gas in new buildings
Green Building Council of Australia have completely overhauled its Green Star rating system in a push to eliminate natural gas in buildings.
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National rent prices fell annually for the first time
The September 2020 quarter CPI figures show the impact that the pandemic has had on national rental prices.
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CoreLogic partners with innovation program RealTechX
CoreLogic has today announced its backing of emerging technology businesses in real estate through Taronga Ventures' RealTechX program. CoreLogic Executive and Head of Product, Tim Jenner, says the partnership hits a sweet spot for the business at just the right time. Mr Jenner said "The world's moving fast from a…
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The Reserve Bank believes the recession could be over
Reserve Bank deputy governor Guy Debelle told a Senate estimates hearing on Tuesday that the RBA believes the country has pulled itself out of the recession.
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Queensland rentals hit lowest vacancy rate on record
Queensland's rental market has been hit hard by COVID-19, with Brisbane's vacancy rate swinging from a high of 14 per cent to 8.8 cent in just four months.
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Survey highlights rental uncertainty during COVID-19
A new survey from Flatmates.com.au with more than 12,000 respondents highlights the uncertainty felt by renters during the pandemic.
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Over 96% of First Home Loan Deposit places have already been filled
The First Home Loan Deposit scheme allows buyers to purchase a property with just a five per cent deposit and without buying mortgage insurance, but the party is coming to an end.
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Housing prices rise in WA’s regional centres
Western Australia's regional centres are in high demand, as eight of nine areas saw an increase in median sale price for the September 2020 quarter.
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Auction markets continue to strengthen
As Victoria returns to in-person auctions, the market is gaining moment, with a surge in Melbourne listings contributing to 1456 capital city homes taken to auction this week. The figure is the highest volume of auctions seen since early April, while the clearance rate also proved strong, with preliminary data…
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