INDUSTRY NEWS
-
Real estate industry professionals recognised in Australia Day 2019 Honours
Several members of the real estate industry have been recognised in the 2019 Australian Day Honours, receiving recognition for the work they’ve done both for the industry and for their communities. 2019 saw 1,127 Australians recognised on the Australia Day list – the largest number in the history of the Order of Australia. Among those recognised were several members of…
Read More » -
Houses selling for up to $400k more in coveted public school zones: REIV
Homes in the designated neighbourhood boundary of some of Melbourne’s popular public primary and secondary schools are securing sale prices of up to $412,500 more than those just outside the zone, according to the latest REIV data. REIV President Robyn Waters said houses within some school catchment areas are hot property, because access to sought-after public schools is one of…
Read More » -
Chinese investment in Australian property to stay strong in 2019 as buyers look to ‘grab a bargain’
Juwai.com has released the Australia 2019 Outlook for Chinese Residential Real Estate Buying, which shows that 2019 will continue the strong outlook for Chinese investment as buyers are attracted by dropping prices in key markets. According to the report, Chinese buyers will be bolstered by strong Chinese wealth growth and the desire to get a bargain while the market is…
Read More » -
Realestate.com.au report shows the true issues facing ‘Generation Rent’
In partnership with youth publishing group Pedestrian. TV, realestate.com.au has released the 2019 Renters Report which provides a snapshot of young Australian renters and the issues facing them. The report highlights some surprising statistics around living conditions and rental stress in 18 to 39-year-old Australians. It surveyed 3,500 respondents nationally through quantitative research methods, as well as taking a qualitative…
Read More » -
Why agents are knocking at NOKK’s door
Like many start-ups, the idea was born from personal experience. NOKK co-founder Ben Voltz, a digital entrepreneur who also counts transaction platform ROKT as one of his successes, was struggling to find a home in his desired suburb of Albert Park in Melbourne. “There were only about 15 properties on the market, which is a very small amount out of…
Read More » -
Australia named second least-affordable housing market in the world
The 15th Annual Demographia International Housing Affordability Survey shows Australia as the second most unaffordable market for housing, with New Zealand coming in third. The survey uses a measurement of ‘median multiple’ to rank affordability, which is found by dividing median house price by gross annual median household income. This method is the same favoured by the United Nations and…
Read More » -
The Agency completes Top Level Acquisition
The Agency Group Australia (ASX: AU1) via their wholly-owned subsidiary Ausnet has completed the acquisition of Top Level Real Estate – also known as The Agency East Coast. The announcement was made via the ASX last night. In addition to acquiring all of the shares in Top Level Real Estate, they have also raised $8.4 million via the issue of…
Read More » -
First home buyers claim their biggest slice of the property pie in six years
First home buyers have claimed their biggest share of new housing loans in more than six years, according to the latest ABS Housing Finance figures. The data shows first home buyers made up 18.3 per cent of owner-occupier loans taken out in November, up 0.2 per cent from last month. This is the highest share for first home buyers since…
Read More » -
Market likely to correct, not crash, in 2019 says realestate.com.au
Today realestate.com.au launched its quarterly Property Outlook – January 2019 report (October to December 2018), analysing more than 80 million property searches. While the worst may not be quite over for Sydney and Melbourne, conditions remain highly variable across the country, year-on-year declines in Melbourne (-1.48%) and Sydney (-5.93%) look to be far less severe than many are reporting. Hobart,…
Read More » -
Downsizers, first-timers, rainfall and a new banking order bode well for NSW regional property in 2019: Raine & Horne
Downsizers eager to take advantage of Sydney’s long-term capital growth, along with more rainfall and less banking red tape are set to underpin property values in NSW regional centres such as Dubbo, Tamworth and Wagga Wagga in 2019 according to Raine & Horne Chief Angus Raine. “Despite softer dwelling prices in Sydney, downsizer activity is driving demand for real estate…
Read More » -
CoreLogic reveals best performing suburbs for 2018
CoreLogic has released their Best of the Best report for 2018, revealing the suburbs which performed best as the property market slowed. At a macro level, CoreLogic research analyst Cameron Kusher describes the property market conditions for 2018 as ‘slowing quite rapidly’. Digging beneath the surface, his analysis found that the market conditions are now somewhat of a mixed bag,…
Read More » -
APRA removes cap on interest-only home loans
The Australian Prudential Regulation Authority (APRA) has announced it will end a 30 per cent cap on the proportion of new loans that can be made on an interest-only basis, saying it was a ‘temporary measure’. APRA chair Wayne Byres said that since the introduction of the cap the proportion of new interest-only lending had halved and that the share…
Read More » -
REIA elects new president
The Real Estate Institute of Australia (REIA) has welcomed the election of a new President, Adrian Kelly from Tasmania. Mr Kelly was elected as the 45th President of REIA, the national professional association for Australia’s real estate sector, at the Annual General Meeting held in Canberra on 13 December, effective immediately. Hayden Groves from Western Australia was re-elected Deputy President…
Read More » -
Crown Residences at Barangaroo, Ironfish, ArchiStar and BC Securities Win Chinese Global Choice Awards from Juwai.com
Australian companies Crown Residences at Barangaroo, Ironfish, ArchiStar and BC Securities were four of the most notable among the 20 of the world’s very best China-focused real estate marketers who were named as winners of the Global Chinese Choice Award by Juwai.com at a gala black-tie dinner event in Shanghai on Wednesday, 5 December. The awards presentation followed four months…
Read More » -
Dexus paves the way to net zero emissions with renewable Energy Supply Agreement
Dexus has agreed terms for one of Australia’s first supply-linked renewable Energy Supply Agreements (ESA), which will purchase renewable energy offsite to power the base building services of more than 40 buildings in its New South Wales property portfolio. This will be achieved through the procurement of renewable energy generation and presents a new lever for Dexus and the property…
Read More » -
National rental report does not paint full picture of tenant experience: REIWA
A report from consumer watchdog CHOICE, together with National Shelter and The National Association of Tenant Organisations, claims that over 50 per cent of tenants are living in properties that need repairs. However, industry bodies say the report isn’t reflective of the full story. According to REIWA, the issues raised in the Disrupted: the consumer experience of renting in Australia report are…
Read More » -
December 2018: Interest rates on hold, Industry reaction
At its meeting yesterday (4 December 2018), the RBA Board decided to leave the cash rate unchanged at 1.50 per cent for its 25th consecutive meeting. “Conditions in the Sydney and Melbourne housing markets have continued to ease and nationwide measures of rent inflation remain low,” said RBA Governor Dr Philip Lowe. “Credit conditions for some borrowers are tighter than they…
Read More » -
Sydney becomes affordable as northern Brisbane takes the lead in new report
A new report from PRDnationwide has made some surprising discoveries along the eastern seaboard, including affordability in parts of Sydney for the first time since 2016 and a strong market in Brisbane’s north. The PRDnationwide Affordable and Liveable Property Guides 2nd Half 2018 for Sydney, Melbourne, Brisbane and Hobart reports on many key indicators, creating a holistic picture of property…
Read More » -
Airbnb set to start designing houses in 2019
Airbnb has announced they will begin building their own prototype homes in 2019 through a new project called Backyard. The short-term letting platform, which arguably kicked off the self-managed short-term letting craze, already has a global network of more than five million properties and is estimated to be worth approximately $38 billion. According to a press release, Backyard will be…
Read More » -
REA Group appoints Melina Cruickshank as Chief Marketing & Content Officer
REA Group has announced on Saturday that Melina Cruickshank has been appointed to the role of Chief Marketing & Content Officer; taking a place as part of REA Group’s Executive Leadership Team reporting to CEO Tracey Fellows. Spending four years as Chief Marketing and Content Officer of Domain, the move comes days before Nine takes full control of Fairfax Media, which…
Read More » -
Changes to flexible work arrangements from 1 December 2018
The Fair Work Commission has announced changes to flexible work for millions of workers across the country. As of 1 December 2018, employers will need to make a genuine attempt to reach a flexible working arrangement, and provide details for any refusals. Flexible working arrangements include changes to hours of work, patterns of work and locations of work. Employees who…
Read More » -
Melbourne tops Asia Pacific region as best investment for 2019
According to a new report from the Urban Land Institute (ULI) and PwC, Melbourne is the best prospect in the Asia Pacific region for both investment and development. The Emerging Trends in Real Estate Asia Pacific report for 2019 provides an outlook on Asia Pacific real estate investment and development trends, real estate finance and capital markets, and trends by…
Read More » -
REIQ 2019 Awards for Excellence finalists announced
The Real Estate Institute of Queensland has announced its 2019 Awards for Excellence finalists, representing the best in the Queensland real estate profession. REIQ CEO Antonia Mercorella congratulated all finalists on their success. “This year’s Awards attracted a very high calibre of entrants, reflecting the growing focus on professionalism for all REIQ members,” she said. “To be named a finalist…
Read More » -
Juwai launches education channel to help Chinese buyers study and buy property overseas
Juwai.com has launched a new Education Channel on its website, dedicated to international education and related properties for Chinese families. Early sponsors and advertisers on the channel include the Overseas Property & Immigration & Investment Exhibition in Shanghai this December; Hopewell Developments, a leading Canadian developer with a portfolio in Alberta, Ontario, Manitoba and British Columbia; Surterre Properties, the leading luxury…
Read More » -
Tenants to benefit from Better Business Reforms
The NSW Government says tenants and small business owners across the state will benefit from a $41 million savings boost after the final part of the NSW Coalition’s Better Business Reforms passed Parliament. “My Better Business Reforms are cutting red tape and putting more savings back into the pockets of hard-working small business owners around NSW,” said Minister for Better…
Read More » -
Brett Hunter to take helm of REINSW in November 2019
The Real Estate Institute of New South Wales has elected Brett Hunter as President-Elect of the industry body, effective November 2018 for a one-year term. REINSW CEO Tim McKibbin said the appointment of Brett Hunter as President-Elect will ensure a smooth transition when REINSW President Leanne Pilkington steps down in 12 months time. “Brett has contributed to the direction and…
Read More » -
REIWA encourages Aussies to dig deep for the homeless this holiday season
As proud partner of The Salvation Army, REIWA is encouraging West Australians to get behind the Salvos’ Annual Christmas Appeal to help bring holiday cheer to the homeless in WA this festive season. REIWA President Damian Collins said there were a number of ways the local community could get behind the Salvos’ Christmas Appeal. “You can donate unwrapped gifts or…
Read More » -
Winners announced for the third Annual REA Excellence Awards
Twenty-one winners were honoured at the third Annual REA Excellence Awards (AREAs) in Sydney last night. Recognising the most innovative, community-minded and highest-achieving individuals and businesses in property and media, awards were presented across the categories of Innovation, Service & Marketing Excellence and Community. This year saw the introduction of three new Gold AREA awards – Agent of the Year,…
Read More » -
REA Group CEO Tracey Fellows announces move to New York
Tracey Fellows, chief executive of REA Group, is stepping down from the role to take on a new position as the head of digital real estate for News Corp. Ms Fellows will leave the company in January 2019 but will remain on the board as News Corp’s representative. News Corp majority own REA. Ms Fellows was appointed CEO in 2014…
Read More » -
Greg Paramor AO Joins Board of Directors at Juwai.com
Greg Paramor AO will join the Board of Directors of Juwai.com as a non-executive director from 1 December 2018. Mr Paramor has been involved in the real estate and funds management industry for more than 40 years. He is former CEO of Mirvac Group, past president of both the Property Council of Australia and the Investment Funds Association, a board member of…
Read More » -
World’s largest companies to shift focus towards flexible workspace
The demand for flexible workspace is set to accelerate as over two-thirds of global corporates plan to increase their use of flexible co-working and collaborative space over the next three years, according to new research from Knight Frank. Knight Frank’s (Y)OUR SPACE report surveys senior executives at 120 global companies, which collectively employ in excess of 3.5 million people worldwide…
Read More » -
What $1.3 Million buys you around the world
Not all $1.3 million dollar properties are made equal, and depending on where someone is looking to splash their cash there’s a big difference in what they can get. Forgoing the metropolitan lifestyle of bigger cities will definitely get buyers more bang for their buck. Gold Coast Currently, a palatial home set on over two acres of property and yet only…
Read More » -
ABS data shows new lending has dropped to lowest levels in four years
The latest ABS housing figures show new lending has dropped to the lowest levels since August 2014 and lending to housing investors is at the lowest it’s been since 2013. The seasonally adjusted figures from September show an overall drop in lending of 3.8 per cent from the previous month. Owner-occupiers fell the most, down 4.2 per cent from last…
Read More » -
November 2018: Interest rates on hold, Industry reaction
Yesterday (6 November 2018) the RBA Board decided to leave the cash rate unchanged at 1.50 per cent for its 24th consecutive meeting. “Conditions in the Sydney and Melbourne housing markets have continued to ease and nationwide measures of rent inflation remain low,” says RBA Governor Dr Philip Lowe. “Growth in credit extended to owner-occupiers has eased but remains robust, while…
Read More » -
NSW government announces changes to stamp duty
Calling it the “most significant reform in a generation” to stamp duty, the NSW government has announced that from July 1, 2019, the seven stamp duty tax brackets will move in line with the consumer price index. Indexing the tax to inflation will save the average property buyer $500 from the introduction of the move, with that amount to increase…
Read More »