INDUSTRY NEWS
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Console Cloud announces integration with Maintenance Manager
An integration between cloud-based property management software platform Console Cloud and Maintenance Manager is set to give agencies a faster turnaround on maintenance tasks and save double-handling of data. Managing maintenance has typically required property managers to coordinate activities between tenants, landlords and tradies, causing headaches and games of phone tag for all involved. In an effort to streamline the…
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Six changes Australia could implement to improve liveability during lockdown
There is no doubt Australians’ mental health and quality of life are suffering during the nationwide shutdown as a result of the coronavirus pandemic. If Australia’s existing ‘shutdown’ turned into a ‘lockdown’ in localities where a spike in the growth of COVID-19 infections occurs, our ability to cope could be seriously diminished. Italy, Spain, France, Germany, Poland, the United Kingdom,…
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Property searches on the up: REA
Online property searches are proving a popular pandemic pastime according to realestate.com.au, with their latest data revealing both buy and rent searches have increased significantly on this time a year ago. According to their latest figures, search activity for properties to buy is up 5.3 per cent in the past week and is now 37 per cent higher than it…
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New records for Rent.com.au
Rent.com.au has released its quarterly results for the period ending March 31, noting new records have been set for visits to its website and apps. CEO Greg Bader said the March quarter was typically when Rent.com.au sees the greatest number of renters moving home, and the March quarter proved no different, with increased visits to the website and apps, as…
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Fast tracking projects key to economic recovery
The Property Council of Australia has welcomed the NSW Government’s announcement of the first tranche of 24 fast-tracked projects providing nearly 9500 jobs, $7.5 billion worth of investment and 4400 new dwellings to drive the recovery of the NSW economy. The Property Council has been working closely with the NSW Government over the last few weeks to put forward key…
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Auction activity slows for Anzac Day
A combination of Anzac Day commemorations and ongoing on-site auction restrictions saw just 431 properties go to auction across the capitals this week, with results only available for 223 of the properties as of Monday. CoreLogic results indicate volume was down on the 1,922 properties auctioned the previous week as the nation stopped to remember the Anzacs on Saturday and…
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The REIV and AFL Coaches Association team up to inspire excellence in real estate
The Real Estate Institute of Victoria (REIV) has teamed up with the AFL Coaches Association as part of a innovative initiative designed to inspire excellence in real estate. REIV President Leah Calnan said as peak representative bodies in their respective arenas, both organisations shared a common purpose of supporting their members to be “The Best You Can Be”. Now a…
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Qld Gov unveils Practice Guide to navigate tenancies through COVID-19
The Queensland Government has enacted National Cabinet’s moratorium on evictions, with a Practice Guide formalising the temporary requirements and protections for tenancies impacted by COVID-19. On Friday, Queensland Minister for Housing and Public Works Mick de Brenni published the Residential Tenancies Practice Guide, following the passing of the COVID-19 Emergency Response Act in Parliament last week, which allows government to…
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Easing of restrictions helps WA agents to get back to work
REIWA has welcomed the McGowan Government’s announcement to allow the number of people who can attend a home open to be increased from two people (including the agent) to a maximum of 10 people from Monday 27th April. REIWA President Damian Collins said with sales transactions sitting at a record low of less than 300 per week in Perth in…
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Delaying Victorian RTA changes labelled a great outcome
REIV President Leah Calnan has welcomed the Victorian Government’s decision to hold off on introducing changes to rental laws until next year, allowing the state to deal with Coronavirus. Earlier this month the REIV wrote to the Victorian Government, calling for a delay to changes to the Residential Tenancy Act due to the outbreak of Covid-19. Rental reforms were due…
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Property values holding on amid COVID-19 crisis – for now
While the COVID-19 downturn has had a dramatic impact on agent activity and listings volumes in residential real estate, reports indicate that so far the value of dwellings has been relatively resilient. It’s still likely that property values will fall amid the downturn, but according to CoreLogic the decline in momentum across property values has been mild relative to what…
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Auctions nosedive on back of pandemic and public holiday
The number of homes scheduled for auction this week took a dive, with only 314 properties scheduled for auction across the combined capital cities. According to CoreLogic, the lower volumes are partly due to coronavirus reducing the number of vendors serious about taking their property to auction in more challenging conditions, and also because Anzac Day falls on Saturday –…
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MRI Software appoints key executives to support global growth
Real estate software solutions company MRI Software has strengthened its leadership team with two key executive appointments. Roman Telerman has been promoted to Chief Financial Officer from Vice President of Finance, and experienced software executive David Bowie has joined the team as Senior Vice President and Managing Director, Asia Pacific. MRI Software’s Chief Executive Officer Patrick Ghilani said Mr Telerman…
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REIV partners with ListingLoop.com.au
ListingLoop.com.au will partner with The Real Estate Institute of Victoria (REIV) to support agents by offering a safe digital solution that directly connects buyers to properties faster than ever before. ListingLoop.com.au is Australia’s first industry buyer database, which gives agents the ability to directly advertise their vendors’ properties for sale under a no-sale, no-charge success-based advertising model, while providing agents…
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Private inspections to make a comeback in NZ
With New Zealand set to come out of lockdown after the Anzac Day weekend, real estate agents are preparing for private viewings to recommence The country will move to Alert Level 3 just before midnight on Monday, April 27, and from next Tuesday, all businesses deemed to be capable of operating “safely” will be permitted to do so. Minister of…
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REIA backs Government’s COVID-19 tracing app
The Real Estate Institute of Australia has encouraged real estate professionals to download the Government’s new COVID-19 tracing app and play a part in tackling the virus. The app, which would allow health authorities to trace who people had been in contact with quicker than manual contact tracing, has come under fire for privacy concerns, but REIA President Adrian Kelly…
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RBA offers sobering outlook for Australian economy
Reserve Bank of Australia Governor Philip Lowe has pulled few punches when it comes to the immediate future of the Australian economy, noting “over the first half of 2020 we are likely to experience the biggest contraction in national output and income that we have witnessed since the 1930s”. In a tough-love speech responding to a tough-love Covid-19 national lockdown,…
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How actor Sam Neill sold his Double Bay property online
Actor Sam Neill has sold his Double Bay property for an undisclosed amount believed to be over $3.6m to an Australian bidder currently in Hong Kong via online auction. The online marketing for the home was headlined “Vendor wants fast sale”. Selling agent Paul Ephron used the Openn Negotiation App to make that a reality for his client. After only…
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REIV Charitable Foundation reaches out to support children in homeless families
The Real Estate Institute of Victoria charitable Foundation has donated $20,000 to Launch Housing to help 60 at-risk children without stable housing to access crucial support and supplies. The donation follows a $10,000 donation to Launch Housing in 2019, which was able to benefit 27 people at risk of or experiencing homelessness. Chair of the REIV Charitable Foundation Sophie Lyon…
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Property experts share COVID-19 market predictions
A group of property experts have shared their views on how COVID-19 will impact Australia’s property market, with most indicating the greatest effect will be felt within three to 12 months but many still believe by this time next year prices could be higher than they are at present. As part of a survey by Ripehouse Advisory, 146 property professionals…
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Higher auction volumes again weighed down by withdrawals
Scheduled auction volumes increased this week, almost trebling in numbers after the Easter weekend, but as seen in previous weeks the results were weighed down by withdrawals, with the clearance rate coming in at 39.1 per cent. Across the capitals 1848 properties were listed for auction compared to 634 the week prior, according to CoreLogic’s figures. Of the 356 properties…
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Would you buy a home without stepping foot inside?
US-based website realtor.com has released the results of a new consumer survey highlighting COVID-19’s impact on home buying, selling and moving in the age of social distancing. The survey found that American consumers, especially younger demographics, want virtual tours and are warming to the idea of buying a home without visiting it in person. Realtor.com and Toluna Insights surveyed 1,300 consumers during the…
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Qld Government backflips on rental relief package
The Queensland Government has backed down on its initial coronavirus rental relief package saying they will continue to listen and work with stakeholders in the finalisation of COVID-19 tenancy measures. Housing and Public Works Minister Mick de Brenni said he would be working through with stakeholders the implications to resolve all concerns. “Queensland was one of the first states out…
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New app reconnects property managers with tenants from a distance
The strict social distancing measures imposed nationally by the Government in response to COVID-19 have created a major dilemma for property managers. Their inability to conduct routine inspections, review reported or completed maintenance issues, and interview new tenants leaves them unable to fulfill their obligations to landlords and ensure the safety of tenants. In response to this dilemma, an Australian…
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Qld agent sets new bidding record on Openn Negotiation
A Queensland property has taken out the record for the greatest number of bids placed in an Openn Negotiation sale, with 67 total bids made in 11 days. The house located at 133 Turner Street, Scarborough, settled earlier this month for almost $200k above reserve. Brendan Homan from Innov8 Property, the agent at the helm of this sale, has been…
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Record realestate.com.au audience shows Australia’s property passion remains
Leading real estate website realestate.com.au has achieved a new record audience for March, with 10.7 million people visiting the site. The milestone comes as the real estate industry is being forced to operate under new guidelines in order to minimise the spread of COVID-19. Realestate.com.au has remained laser-focused on helping the property industry adapt to new operating requirements with limited face-to-face interactions.…
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Victoria fast-tracks legislation to support landlords and tenants in COVID-19
The Victorian Government will bring urgent legislation to the Parliament next week to support tenants and landlords through the coronavirus pandemic by reforming residential and commercial tenancy laws. The laws include introducing a temporary ban on evictions, pausing rental increases for six months, and providing land tax relief for landlords and rent relief for tenants experiencing financial hardship. In line…
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REEF applies for industry award variation for commission-only salespeople
With COVID-19 likely to heavily impact commission-only agents, the Real Estate Employer’s Federation (REEF) has applied for a variation to the Industry Award in a bid to postpone next year’s annual Minimum Income Threshold Amount (MITA) reviews. REEF CEO Bryan Wilcox said the application to the Fair Work Commission was filed by REEF and the Real Estate Employer’s Federation of…
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Rent assistance still required in WA, says REIWA
Urgent legislation to implement a range of measures to minimise financial impacts of the COVID-19 pandemic on tenants and landlords of both commercial and residential tenancies will be introduced into WA State Parliament this week – but these do not include the required clarity on rent relief for tenants in WA. REIWA President Damian Collins said while the Institute and…
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Subdued Easter auction market
The Easter long weekend delivered subdued auction results, with just 636 homes slated for auction across the combined capitals, returning a preliminary clearance rate of 29.3 per cent. CoreLogic noted the clearance rate was again dragged down by withdrawn properties, with 57 per cent of listings pulled “as the auction market continues to face challenges around social distancing measures banning…
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NSW Government provides long-awaited clarity on rent relief for residential tenants
The six-month support package includes a moratorium on applications for forced evictions due to rental arrears for those financially disadvantaged by COVID-19, and new requirements for landlords and tenants to enter into negotiations over rental payments in good faith. Minister for Better Regulation and Innovation Kevin Anderson said an interim 60-day moratorium on finalising existing matters or making new applications…
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NSW Government unveils $440 million land tax break to support tenants and landlords
NSW commercial tenants significantly impacted by COVID-19 will have greater protection from evictions with the State Government set to enact the National Cabinet Code of Conduct as part of a $440 million land tax relief package. The measures will apply to commercial leases where the tenant is in financial distress due to COVID-19, including but not limited to shops, cafes,…
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A journey with a twist: How Ray White’s Tony McPherson finally made it home
“Linda and I had planned a cruise some time ago to celebrate a milestone birthday and tick off some bucket-list destinations,” Mr McPherson explained. “We flew to Buenos Aires to join a cruise that included the Falkland Islands, around Cape Horn, up the coast of Chile to Lima in Peru, then on land to Cusco, Machu Picchu, back to Argentina,…
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Updated impacts on real estate businesses due to COVID-19
Recent national legislation due to COVID-19 has included halting traditional open homes and in-person auctions and a six-month moratorium on evictions for tenants in hardship due to the pandemic. Here is how that is playing out in each state. (This post will be regularly updated) Victoria A state of emergency has been declared in Victoria due to the serious risk…
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Airbnb on shaky ground amidst COVID-19 crackdown
Short-stay accommodation platform Airbnb continues to find itself in the firing line of social distancing measures which come on the back of new changes to strata laws in NSW being rolled out this week. Under the new coronavirus regulations, people should be staying at their own accommodation. Exemptions are in place for those who are required to use short-term accommodation…
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