INDUSTRY NEWS
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Buyers keen but sellers hesitant in an uncertain market
With COVID-19 restrictions continuing to ease just in time for the spring selling season, the property market is expecting a surge of buyer demand.
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Dwelling approvals fell in August
"The decline was driven by private sector dwellings excluding houses, which fell 11.0 per cent."
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NSW Fair Trading issues clarification on mandatory COVID-19 Safety Plans
We have republished their article below, with the clarifications made by Fair Trading in bold.
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Common COVID-19 cleaning mistakes in the workplace
Lisa Macqueen reveals the eight common health and safety mistakes that workplaces are making on their premises
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Mortgage approvals hit pre-COVID levels months ago
New ABS housing finance data shows that mortgage approvals across the country hit pre-pandemic levels in July.
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Queensland’s property market defies pandemic predictions
Queensland’s real estate market has overcome predictions of property price falls as a result of the COVID-19 pandemic.
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@realty agents to receive commissions within 24 hours
Agents won’t have to wait for settlement to receive commission, under a new initiative designed to improve cash flow. Under the new @realty Boost program, agents affiliated with the @realty network will be able to claim commission when a contract goes unconditional, with the company promising a 24-hour turn around for payment. @realty CEO James Taylor says @realty Boost will…
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The Block’s winning bedroom borrowed from Byron designer
Block contestants Luke and Jasmin were thrilled after scoring a perfect 30 for their jungle-themed children's bedroom on Sunday's episode of The Block, but it soon became apparent they'd leant a little too heavily on a popular Byron Bay AirBnB for inspiration.
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The unassuming house with a skatepark inside
From the road, you'd never imagine that the unassuming house above contains an entire skatepark that draws professional skaters from around the world.
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Universities will need to sell $25b real estate portfolio
The Australian university sector is in dire straits, with Universities Australia predicting losses of $16 billion across our tertiary institutions over the next three years, as the usual influx of international students is stalled.
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Houses v units: the risk gap for investors widens further
The difference between buying a house and buying a unit rental property has never been more pronounced, according to RiskWise Property Research.
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Sydney mansion breaks national auction record, selling for $24.6m
Sydney enjoyed an impressive weekend of auctions, with the clearance rate hovering just under 75 per cent, and a new nationally residential auction record.
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Auction clearance rate holds above 70 per cent
The preliminary clearance rate continues to defy expectations, holding above 70 per cent for the second week in a row. Hot on the heels of the highest preliminary clearance rate since the beginning of the pandemic last week, this week 70.5 per cent of the auctions so far reported appear…
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Private inspections back on in Victoria
The Real Estate Institute of Victoria has welcomed the announcement today by the Premier of Victoria, Hon. Daniel Andrews, MP that private inspections for purchase or leasing of properties, can recommence from 11:59 pm Sunday 27 September 2020. “This is great news for Victorians and should be seen as a…
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QANTAS may soon be your new landlord
Qantas is subletting roughly 25,000 square metres of office space in Sydney, Melbourne and Hobart.
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Simpler home loan rules to fuel Australian economy
Reforms announced by the Morrison Government that will streamline and loosen the progress of applying for home loans is hoped to jumpstart our flagging economy.
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Real estate is an essential service: REIQ
As the Queensland State election looms, REIQ have called on political parties to "not forget the critical contributions of Queensland's real estate sector to the local economy."
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REINSW blasts NSW Government: “We expected better”
The Real Estate Institute of New South Wales (REINSW) has blasted the NSW Government's decision to extend its rental moratorium.
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Should landlords be incentivised to make rentals energy efficient?
The Australian Housing and Urban Research Institute have released a 75-page report that proposes tax breaks and financial assistance for landlords willing to improve the energy efficiency of their rental properties.
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Planning reform will add $5.7b to economy: PCA
The Property Council of Australia are urging the various state and territory Governments to implement at least one of the 'quick win' reforms in their new Planning to Prosper report.
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Australia should aim for zero-carbon buildings by 2030
The Australian Institute of Architects has welcomed the Government's recently-announced $1.9b investment into lowering emissions, but urges the acceleration of the transition to a carbon neutral economy.
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House prices set for a 15 per cent surge: Westpac
The economists have mapped out a four-stage housing cycle that they believe will lead to this surge.
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Greens SA introduce ‘Renting with Pets’ Bill
The Greens Party have today introduced a “Renting with Pets” Bill into South Australian Parliament. Currently the default position of most residential tenancy agreements in South Australia is that pets are not allowed. This Bill reverses this so that pets are automatically allowed, except in certain circumstances. “If a tenant applies to keep a pet and the landlord doesn’t consent,…
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Queensland’s border may open to Sydneysiders in under a fortnight
More hopeful border news, following on from the pending reopening of South Australia to all NSW residents, and the softening of Queensland's restrictions to allow 41 postcodes near the border to cross freely. The Queensland…
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Dexus CEO warns of “far more painful” recession if work-from-home continues
"People will sit there and say it's the death of the office, but I don't think that's the case"
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OpenLot portal has thrived through pandemic
After launching earlier this year, digital property platform OpenLot has gone from strength to strength, with the pandemic playing to the portal's strengths.
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Survey: Rent is easier to pay, but renters see a grim future
Renters are finding it easier to make their rental payments than at the start of the COVID-19 crisis, but feel less positive.
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HIA welcomes relaxed Qld border restrictions
Thousands of builders and tradies working either side of the NSW/QLD border will breathe a sigh of relief today.
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PCA call for six-month Home Builder extension
Recent research by the National Housing Finance and Investment Corporation predicted that demand for housing in Australia would fall by up to 232,000 dwellings over the next three years.
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Drop in migration to cause drop in Aussie housing demand
The global COVID-19 pandemic could cut demand for housing in Australia by between 129,000 and 232,000 dwellings over the next three years, according to new research released today by the National Housing Finance and Investment…
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Application date extended for land tax relief scheme
NSW landlords who reduced their tenant’s rent due to COVID-19 can still apply for the NSW Government’s land tax relief, with the submission date now extended until December 31. Relief is available to commercial or residential landlords whose tenants can prove financial distress due to COVID-19, and who have reduced their tenant’s rent for any period between 1 April, 2020…
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COVID-19 Safety Plans now mandatory for NSW open homes and auctions
COVID-19 Safety Plans are now mandatory for open homes and auctions.
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Highest preliminary clearance rate since March
With Melbourne still out of the picture, the remaining capitals have clocked up their highest combined preliminary clearance rate since March, coming in at 72.4 per cent. This is well above last week’s preliminary success rate of 67.3 per cent, which later revised down to 63.0 per cent at final figures, while CoreLogic notes this time last year, a final…
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Foreign investment fee an “outrageous impost” that will hurt economy: PCA
Proposed legislation that will increase the cost of foreign investment applications fees has been slammed by the Property Council as being "an outrageous impost on safe institutional investment into commercial property and discourage the very…
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REIWA point to Qld’s example as the way forward for WA
REIWA President Damian Collins has commended the Queensland Government's handling of the COVID-19 legislation
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