INDUSTRY NEWS
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Housing affordability down 2 per cent in December quarter
As interest rates continue to shrink on home loans, the ability for people to buy their own home has also reduced. According to the REIA Housing Affordability Report for the December 2019 quarter, affordability has declined another two per cent. In practical terms this means the proportion of income required to meet loan repayments has increased to 34.7 per cent,…
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Take a stand for your health: VariDesk
According to the World Health Organization, the average adult spends about a third of their life at work, and in a sedentary era ruled by technology, chances are much of that is spent sitting. In real estate it’s no exception and it’s little secret that’s no good for your health. “The term ‘sitting disease’ is a phrase that is being…
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MyDesktop acquired by Real Estate Investar to create “CRM of the future”
Domain has announced the sale of its customer relationship management product, MyDesktop, for $14 million to Real Estate Investar. Domain Group Chief Executive Officer and Managing Director, Jason Pellegrino, said the sale was a continuation of Domain’s objective to simplify and optimise the business, and deliver the best value to agents. “We recognise the importance of CRM systems to every…
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Coronavirus fears force the RBA to cut rates to 0.5%
Fears that the coronavirus will weigh on both the local and global economies has forced the RBA to slash the official cash rate by 25 basis points to 0.5 per cent. The RBA made the decision to cut interest rates to a record low level in what is the fourth cut in 12 months. The unprecedented fallout from the coronavirus…
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More regions in positive territory: Herron Todd White
More of the nation’s regions have progressed into positive property value territory, according to the latest findings from Herron Todd White. This week their market data indicates housing in Canberra and the New South Wales central west continues to sit at the peak of the property market, while Sydney, the Sunshine Coast, Gold Coast and Rockhampton are fresh faces on…
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House price rebound continues with new highs in sight
House prices across the country have continued to grow in value in February, with Sydney and Melbourne again the strongest markets in the country. According to the latest data from CoreLogic, median house prices across the combined capital cities jumped 1.2 per cent in February. Again it was Australia’s two major cities, Sydney and Melbourne that are doing the bulk…
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RBA Survey: Coronavirus economic impacts just beginning
Experts fear the Reserve Bank of Australia (RBA) will need to take action in the wake of the COVID-19 (coronavirus), according to Finder. In this month’s Finder RBA Cash Rate Survey™, 39 experts and economists weighed in on future cash rate moves and the state of the Australian economy. Graham Cooke, insights manager at Finder, said 20 of those surveyed specifically…
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Adina to open landmark ‘green’ apartment hotel in Southbank
TFE Hotels and Hume Partners Property is set to launch Australia’s first cross-laminated timber (CLT) hotel and the tallest timber adaptive-reuse project in the country – the ultra-modern Adina Apartment Hotel Melbourne Southbank – later this year. Just six months out from opening, the striking 220-room Bates Smart-designed apartment hotel, at the intersection of Southbank Boulevard and City Road in…
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2020 ARERA winners announced
The region’s top performing independent agencies and individuals have come together for the 14th annual Australasian Real Estate Results Awards (ARERAs). Hosted by industry coaching and training body Real Estate Results Network (RERN), this year’s ARERAs were more hotly contested than ever, with a large number of nominations received from across Australia and New Zealand. Winners from 36 award categories…
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Property start-up to deliver sale success
Australian property start-up Brickfloor is eliminating home selling stress by providing a Home Price Guarantee for sellers. Working alongside leading real estate agencies, including Marshall White, and acting as an insurance policy for home sellers, the Home Price Guarantee product sees Brickfloor commit to buying the seller’s home for a competitive price that’s locked in before they even list. If…
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730,000 interest-only mortgages a ticking time bomb
Hundreds of thousands of borrowers on interest-only loans will be hit with higher repayments this year according to new research by comparison site Finder. A Finder analysis of Australian Prudential Regulation Authority (APRA) data revealed that 730,000 interest-only (IO) home loans will convert to principal and interest repayments in 2020. Of all the home loans granted in 2015-2016, a worrying 39…
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The global trend in co-living spaces
A new global metropolitan housing trend is hitting Australia with full force and is set to cause sustained growth in an emerging property sector dominated by young professionals. Recent research from Savills shows that co-living – purpose-built housing that mixes high-quality rental rooms with sophisticated communal lifestyle spaces – is on the up. They note investment into co-living predominately emerging…
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Domain ups stumps as major cricket sponsor
Domain has “upped stumps” as the naming rights sponsor for the Cricket Australia men’s test series as the property portal seeks to embrace a more targeted marketing approach in the wake of lacklustre half yearly results. The announcement that Domain would withdraw from the naming rights sponsorship comes just half way through a four-year contract…
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Big bank home loan war as ANZ slashes fixed rates to 2.68%
Australia’s fourth largest lender, ANZ, has slashed its fixed rate home loans by up to 0.86 per cent. The lowest advertised rate from ANZ is now 2.68 per cent on its two-year fixed rate package loan for owner-occupiers paying principal and interest. This is the second equal lowest two-year fixed rate in the RateCity.com.au database. ANZ has cut their two-year…
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PropTech platforms Realtair and AuctionNow join forces
Australian PropTech innovator Realtair will merge with leading independent auction platform, AuctionNow, in a move that will see the formation of Australia’s first genuine end-to-end, integrated digital sales transaction platform. Realtair CEO and Founder Peter Matthews said the merger with Damien Cooley’s AuctionNow is perfectly timed at the start of this new decade. “At Realtair we have digitised and automated…
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The novel coronavirus outbreak and Chinese cross-border real estate buying
Chinese Consumers at Home To understand the impact of the epidemic on Chinese cross-border real estate buying in overseas markets, it helps to first understand the situation for these buyers at home, in China. In much of the country, people are working at home or taking an enforced holiday until they can return to their…
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Stamp duty labelled ‘government addiction’ as industry calls for reform
Calls for changes to stamp duty are starting to grow stronger after New South Wales Treasurer Dominic Perrottet put the federal government on notice to act on tax reforms. In a recently released report, an independent panel appointed by the NSW Treasurer looked at how NSW and the Commonwealth could work together to build a stronger economy. One of the…
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CEO calls for disclosure of energy efficiency in homes
First National’s chief executive Ray Ellis is calling on the nation to follow the lead of the ACT as climate change consciousness extends far beyond the capitals to impact regional home buyers and renters.
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First home loan scheme helping millennials: HIA
Data indicates the Federal Government’s First Home Loan Deposit Scheme is already helping millennials achieve their home ownership aspirations while giving a boost to regional areas. According to HIA Chief Executive Industry Policy, Kristin Brookfield, government data shows 34 per cent of First Home Loan Deposit applicants are aged between 25 and 29, while 76 per cent of applicants are…
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Property price optimism rising in capitals as regions feel the strain
Record low interest rates have helped boost the level of financial comfort for many Australians who reside in our capital cities, as a rebound in property prices improves sentiment. However, the gap with those in regional areas continues to grow, according to ME Bank’s latest Household Financial Comfort Index. Australians living in regional areas are currently experiencing an eight-year low…
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realestate.com.au launches autumn advertising campaign ‘Millions More Buyers’
realestate.com.au has surged to a new record audience high of 9.3 million as its new autumn advertising campaign begins. The ‘Millions More Buyers’ campaign uses modern illustration throughout the brand’s multi-channel approach. Digital, out of home, radio and TV campaigns aim to drive listing activity in the market as the autumn selling season begins strongly. The campaign’s 30-second TV commercial aired nationally for the first…
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Demand for residential land picks up
“Residential land sales have increased by 45.9 per cent from their record low in the March 2019 quarter,” said HIA Economist, Angela Lillicrap. The February 2020 edition of the HIA-CoreLogic Residential Land Report provides updated information on sales activity in 46 housing markets across Australia, including the six state capital cities. “The first half of…
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Downsizers value spare rooms and will leave neighbourhood for new home
Space remains important to Australian downsizers, with over a half moving to a dwelling with three or more bedrooms and a third moving to an apartment, AHURI research has revealed. The ‘Effective downsizing options for older Australians’ research, undertaken for AHURI by researchers from Curtin University and Swinburne University of Technology, compares households that downsized with those that haven’t to understand…
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First home buyers surge to decade high
First home buyers are back and ready to buy, with the latest Australian Bureau of Statistics figures indicating new loans to first time buyers have hit their highest level since 2009 in seasonally adjusted terms. Releasing their figures on Tuesday, the ABS said the value of new loan commitments to first home buyers rose 6.2…
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Disability housing provider secures $20 million in investment
After securing a $44 million cornerstone investment last year, one of Australia’s most innovative disability housing providers, Casa Capace, has secured a further $20 million in investment and has completed its first multi-dwelling houses, with residents moving in next month. Casa Capace is a registered and certified provider with the National Disability Insurance Scheme (NDIS). With six bedrooms across two…
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REA Group delivers resilient performance in challenging market conditions
REA Group Limited (ASX:REA) today announced its results for the half-year ended 31 December 2019. Group financial highlights from core operations1 include revenue2 of $440.3m and EBITDA3 of $272.1m. The Group’s result was delivered in continued challenging market conditions with declines in new residential listing volumes and new project commencements. National residential listings declined 14%,…
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REA Group unveils new Smartline brand
REA Group has announced the rebranding of its Smartline mortgage broking business, with realestate.com.au Home Loans also to be integrated under the banner in the coming months. Now known as Smartline – personal mortgage advisers, REA said the rebranded offering is primed to become the primary mortgage broking brand representing the Group in the Australian market. “The new Smartline brand combines the…
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Rightsizing: the downsizing trend toward luxury apartment living
Demand for rightsizing – the downsizing lifestyle trend towards luxury apartment living – is strong in Australia, according to the latest research from Knight Frank. The Knight Frank Rightsizing – Australian Prime Residential Insight 2020 report found buyers are looking for low-maintenance properties, but with house-like proportions and great amenities. In essence, they are looking for luxury apartments with at least three…
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Belle Property and Hockingstuart merge
Belle Property and Hockingstuart have merged to launch an innovative new agency model which sees both brands operate independently, as part of one major real estate network. While the Hockingstuart brand will remain across Victoria, in February, the Belle Property brand will also launch into key Victorian regions including Bayside, Stonnington, Booroondara, Glen Eira, Peninsula,…
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Rent.com.au to raise $2.9 million for RentPay development
Rent.com.au has has executed an underwriting agreement with Pinnacle Corporate Finance in a bid to raise $2.9 million for the development of RentPay. The capital raising exercise will comprise a non-renounceable, pro-rata rights issue on the basis of one new share for every five shares held at an issue price of $0.05 per share. The rights issue price of $0.05…
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RBA Governor backs low interest rates but warns over house prices
In his first speech of 2020, RBA Governor Phillip Lowe has reiterated that interest rates will likely remain low for an extended period of time while cautioning on their impact on house prices. Speaking at the National Press Club, Dr Lowe came out strongly by suggesting three interest rate cuts last year had been of benefit to the Australian economy,…
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Tiny houses: not the big answer to housing you might think
There has been significant growth in small house living, but that doesn’t mean Australia should go in big on them. Don’t let their sizes fool you – the tiny house movement is big. These micro-scaled homes are populating Instagram feeds and even have a Netflix series aptly named Tiny House Nation. Championing a simple-living alternative to habitation – an antidote…
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2020 REIA National Awards for Excellence finalists announced
The finalists for the 15th National Awards for Excellence has been announced by The Real Estate Institute of Australia (REIA). REIA President Adrian Kelly said the national awards recognise the best of the best in Australian real estate. "This year the REIA National Awards for Excellence will be proudly hosted by the Real Estate Institute of…
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Digital mastery for the real estate industry
It’s no secret that the digital world can be confusing and competitive, while tried and tested methods of leads and visibility can change in a heartbeat. And with big players of the industry changing the interaction between clients and agents, agencies need to upskill quickly to become both masters of attraction and masters of their own lead generation. It is…
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Australia needs to build a new ‘Canberra’ every year
In 1988 the Australian Bureau of Statistics (ABS) projected a population of 25 million by 2050. Australia reached that estimate 30 years earlier. Our population grew by more than 400,000 in 2018-19, and the ABS now projects a population of 30 million by 2030. One of Australia’s best-known urban planners and designers, Mike Day – who is co-founder and director of RobertsDay and a…
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