INDUSTRY NEWS
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A third of Australians choose overseas travel over a home
When asked to choose between being well travelled or owning a home, one in every three Australians values travel over home ownership. That was the key finding from ME’s recent travel survey which explored how important travel is to Australians. The trade-off between buying a home and exploring the world was far more apparent among 18-24 years olds, with 50…
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Money magazine names best financial providers for 2020
Australians could save more than $180,000 by switching to financial product providers that have been named winners of Money magazine’s Best of the Best Awards for 2020. More than 100 winners were named across financial services including credit cards, term deposits, banking, loans, superannuation, insurance, investments and online broking; as well as personal and business services such as broadband, phone…
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Partnership to help home hunters get best mortgage rates
Social property app Sohoapp.com has partnered with Westpac-backed uno Home Loans so homebuyers using the app can check if their home loan is competitive, and how much they could save by refinancing. Sohoapp.com founder and CEO Jonathan Lui said the company is launching uno’s loanScore and mortgage calculator products throughout its platform. “Our mission is to help Australians get into…
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Eview celebrates top performers and a year of success at annual awards
The Eview Group has celebrated a year of growth and achievement, recognising its top performers and standout agents at their annual awards night on Saturday. Held at the Victoria State Library with over 250 guests in attendance, the evening offered the opportunity to mark the milestones of the year gone by and look to the future ahead. Eview Group Founder…
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RISE2020 – A conference with a conscience
A stellar line-up of some of real estate’s top performers will gather in Melbourne next April to put their weight behind a new initiative to support good mental health. RISE2020 is more than just a real estate conference. It’s a conference with a conscience. Proceeds from the event will go towards seed funding for a mental health resource for the…
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12 Sydney property market predictions for 2020
1. Property owners will continue to sit on their handsListings will continue to be at relatively low levels as a significant proportion of property owners will wait and ‘time the market’ until they are certain prices have peaked again. For this reason, Sydney property buyers might be rewarded with more stock at the end of 2020. Once this happens, prices will…
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New regulations to make short-term rentals more appealing to investors
A 25-year veteran of the real estate industry has predicted the short-term rental market may prove a more attractive option for property investors and urged real estate professionals to recognise its importance. Scott Mackey built a 400-strong rent roll at RE/MAX Precision in Bundaberg but sold it this year to further expand his short-term rental (STR) business, incorporating Airbnb, which…
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Property at forefront of NSW trillion-dollar future
The Property Council of Australia has backed the NSW 2040 Economic Blueprint released this week, which says creating liveable and connected cities is a key aspiration for the state. The landmark NSW 2040 Economic Blueprint: Investing in the State’s Future presents a 20-year economic vision for the state, predicting New South Wales will be the first trillion-dollar economy in Australia.…
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20 holiday hotspots primed for price growth
New research has revealed 20 holiday locations poised for growth over the next three years, with East Ballina taking out the top spot with a predicted median house price growth of up to 28 per cent. The analysis by SuburbGrowth.com.au – part of the Select Residential Property Research Group (SRP) – identified suburbs in four states where prices were predicted…
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Call for government to raise price caps for first home buyers
On of the nation’s most awarded mortgage brokers is calling for the government to lift price caps on first home loan schemes, saying first-time buyers in Sydney and Melbourne might as well not waste their time. Zippy Financial Director and Principal Broker Louisa Sanghera said the property price caps in the First Home Loan Deposit Scheme were set so low…
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Cost of insurance for real estate agents drops
SME retailers and professionals, including real estate agents, have seen price reductions on their Public Liability insurance. The news comes despite inflation and despite the fact prices have remained steady across other products and occupations. In the last quarter, the annual inflation rate in Australia rose to 1.6 percent, with food inflation at its highest in five years and transport…
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REIWA calls on West Aussies to help those in need this festive season
With more than 300,000 people seeking help from The Salvation Army each year during the festive season, REIWA is encouraging West Australians to get behind the Salvos’ Annual Christmas Appeal to help bring holiday cheer to those in need. REIWA President Damian Collins said the holiday season can be especially challenging for those struggling to make ends meet. “This is…
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Openn Negotiation doubles bidders and halves time on market for McGrath Geelong
An online sales property purchasing system generating buyer competition and selling properties faster has the potential to “break the industry in half”, according to one Principal using the system. McGrath Geelong Principal Will Ainsworth has sold 18 properties using Openn Negotiation, which enables buyers to submit flexible terms for the vendor’s approval, allowing more people to participate in bidding and…
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Top 10 suburbs to retire and build equity
When it comes to their golden years, there are three essential factors retirees should take into account when choosing property, according to RiskWise Property Research. RiskWise CEO Doron Peleg said lifestyle, relative affordability and building equity should all be considered by those leaving the workforce behind for the easy life. And a RiskWise analysis has…
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REIQ opposes Queensland rental reforms
The Real Estate Institute of Queensland has strongly opposed the state’s proposed new rental reform laws, claiming they are a “slap in the face to every day mum and dad property owners” and would “significantly damage” the Queensland rental market. The REIQ claimed stage one of the proposal, announced last Friday by Housing Minister Mick de Brenni, would see renters…
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Real estate industry property and media stars recognised at AREAs 2019
Recognising industry excellence and best practice, 21 awards were presented across the categories of Innovation, Service & Marketing Excellence, and Community. Gold AREA awards were presented to outstanding individuals and agencies changing the game in property. (More photos below story) 1 2 3 4 5 Gold AREA award winners: Residential Agent of the Year – Holly Komorowski, home.byholly, ACT Commercial…
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Victorian land values skyrocketing
Real Estate Institute Victoria President, Leah Calnan says said, Victoria is a great place to invest with land prices having soared since 2014. A recent analysis by the REIV on land values over the past 5 years has confirmed that Victorian property continues to go from strength to strength. Over the same period, the median property size has dropped slightly,…
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Domain launches app to help owners track property demand
Owning a home can be stressful. Should you rent it, sell it or just sit tight? Today, this decision has become easier with the launch of Domain for Owners.This feature from Domain lets owners see current, personalised information including demand for properties like theirs, how it has changed over time and its estimated value, all with…
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Five Australian cities among world’s best for luxury residential price growth
Five Australian cities have ranked in the top 30 cities around the world for luxury residential price growth, according to the latest global research from Knight Frank. The Knight Frank Prime Global Cities Index – Q3 2019, which tracks the movement in prime residential prices across 45 cities worldwide, revealed Sydney was ranked 17 for luxury price growth, followed by Melbourne…
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Short-term PM platform Guesty arrives in Australia
Israeli-born short-term rental property management platform Guesty has announced its Australian debut. The launch will expand Guesty’s presence to 11 global centres throughout Europe, UK, US, Middle East and now Australia, with plans for further entry into Asia Pacific cities including New Zealand, Singapore and Hong Kong. Guesty has identified Australia as a key market with short-term rentals on the…
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Domain announces acquisition of Real Time Agent
Domain has entered into a binding agreement to acquire Bidtracker Holdings, which operates the business Real Time Agent. The on-target consideration for the proposed transaction is $24.8 million, $19.4 million of which is payable in cash on completion. An additional amount of between $0 and $15.6 million in cash is payable based on the achievement of defined targets over FY20…
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Soho releases Tinder-type property match
A social network for property hunting has launched a Tinder-type property match feature that gives users the power to swipe yes or no on real estate listings. Soho launched the new feature on SohoApp.com four weeks ago and CEO Jonathan Lui said the number of swipes has grown 30 times. He predicts at this pace, it could overtake traditional search…
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RBA can take a summer holiday
Positive economic signs and a federal government push for banks to relax lending standards for small business will give the Reserve Bank of Australia (RBA) a break from cutting official interest rates, according to leading mortgage aggregator Finsure Group. Finsure Managing Director John Kolenda said with the cash rate reduced to a record low of 0.75 per cent, the RBA…
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Domain Test Stadiums are ‘open for inspection’
Domain, naming rights partner of the Men’s Test series, is celebrating Australia’s two national obsessions, property and cricket by giving fans the chance to explore some of Australia’s most iconic sporting stadiums like never before. As part of a wider campaign, major Australian cricket stadiums will feature on Domain, offering an exclusive look behind the scenes – complete with property…
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Smart Cities Awards applaud innovation and impact
Thirteen winners have been applauded for their visionary leadership, best practice projects and real-world impact at the second annual Smart Cities Awards. Telstra and GWI partnered with Smart Cities Council Australia New Zealand to present the awards, which were held in Sydney as part of Smart Cities Week. “The 2019 winners of the Smart Cities Awards are delivering truly world-standard…
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Melbourne and Sydney drive rise in house prices
House prices across the nation continue to move higher, getting dragged along by continued strength in both Sydney and Melbourne as house prices continue to rise. According to the latest data from the CoreLogic, it was Melbourne property prices that gained the most in the month of October, up 2.3 per cent – its strongest result since 2009, while Sydney…
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REIQ launches professional mentoring program
The REIQ has launched its inaugural mentoring program designed to connect people and create passion within the real estate profession. The REIQ Mentoring Program aims to equip up-and-coming real estate professionals with the personal and professional attributes that will enable them to excel in their chosen field. The program will do this by connecting mentees with carefully selected REIQ mentors,…
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CPI brings good news for home buyers and renters
The September 2019 quarter CPI figure is good news for home buyers and renters, according to the Real Estate Institute of Australia (REIA). REIA President Adrian Kelly said the All Groups CPI increased by 0.5 per cent in the December quarter, giving an annual increase of 1.7 per cent. “The annual changes for the analytical series of trimmed mean and…
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Call for industry to stop using the term ‘off market’
A real estate expert has spoken out against using the term ‘off market’, claiming it is confusing and misleading customers. Starr Partners CEO Douglas Driscoll urged agents to reassess their use of ‘off-market’, which is used to describe properties up for sale without being advertised on the major property portals. “There’s no such thing as an off-market property – in…
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HIA reports confidence returning to housing market
“New home sales bounced back in September to return to levels seen during the latter half of 2018,” stated HIA Economist, Angela Lillicrap. The HIA New Home Sales report – a monthly survey of the largest volume home builders in the five largest states – is a leading indicator of future trends in the residential…
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Making every building count
Governments urged to adopt practical plan for emissions reduction. A landmark new plan sets out a practical pathway for transforming Australian homes, workplaces and other buildings into low carbon, high-performance structures while cost-effectively reducing emissions. Every building counts: A practical plan for emissions reduction is a policy toolkit jointly developed by the Property Council of Australia…
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Weekend Auction Wrap: Auction volumes surge higher
It was another strong weekend of auctions around the country, highlighted by a huge surge in the number of properties going to auction. The auction clearance rate in both Sydney and Melbourne dipped slightly, with Sydney recording 79.7% and Melbourne 77.1% according to the latest data from CoreLogic. While the national rate ended up 75.3%.…
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REIQ announces new board directors at AGM
The REIQ has announced the re-election of Peter Brewer as both a Member Director and Chairman of the Board, following last week’s annual general meeting, held at the REIQ’s Cannon Hill offices. He was joined by property manager, Laura Valenti, who was elected to the board as its female member director, a dedicated position which was introduced to the constitution…
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Auctioneers ready for annual REIA showdown
It’s set to be an all-Australian showdown when the best Australasian auctioneers go head to head at the 2019 Australasian Real Estate Institutes’ Auctioneering Championships today. The winner will be crowned Australasia’s best auctioneer at the REIV Awards dinner tonight in the Palladium Ballroom, Crown Towers Melbourne. The Real Estate Institute of Victoria (REIV) and the Real Estate Institute of…
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Stamp duty removal gains traction with off-the-plan purchases
The Real Estate Institute of Western Australia (REIWA) has come out in support of the McGowan Government plan to remove stamp duty from off-the-plan purchases. REIWA President Damian Collins said the news was a significant win for property buyers and restored the current imbalance where standalone houses only paid duty on land. “By reducing the tax for off-the-plan sales, not…
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