INDUSTRY NEWS
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REIQ announces new board directors at AGM
The REIQ today announced two new Board Directors, elected under the newly reserved positions for a Female Regional Member Director and a Young Director (Under-35), following its Annual General Meeting at the Cannon Hill offices. The two successful candidates are Linda Bland (Female Regional Director) and Joshua Kindred (Young Director). The REIQ Board of Directors: Peter Brewer (re-appointed as Chair)…
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2018 REIWA Awards for Excellence winners announced
More than 430 real estate professionals attended the REIWA Awards for Excellence on Wednesday 25 October at Crown Perth, to celebrate and acknowledge excellence in the WA real estate industry. REIWA CEO Neville Pozzi said the Awards for Excellence were a unique opportunity for the Institute to acknowledge those WA real estate professionals who demonstrate best practice in their chosen…
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Metricon wins display home of the year
A French Chateaux-inspired Metricon show home has won multiple awards in the HIA-CSR NSW Housing and Kitchen and Bathroom Awards, held last Saturday night. The Signature by Metricon Bordeaux residence on display in Kellyville won Display Home of the Year and the Best Display Home over $500,001 in NSW. The show home was also awarded the Best Bathroom in a…
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South Australia’s real estate elite battle it out at Awards for Excellence in Real Estate
On Saturday night, South Australia’s real estate elite battled it out at the 2018 News Corp Australia realestate.com.au Awards for Excellence in Real Estate. The 2018 Awards celebrated all things Cuban with a Stars of Havana theme. The Adelaide Convention Centre took us all back to the land of salsa, cigars and Desi Arnaz Jr. This year the REISA Awards…
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REINSW Residential Tenancies Act Tour to educate agents
Changes to the Residential Tenancies Act including property alterations, rental increases and new minimum standards for property will be the focus of a month-long roadshow designed to educate real estate professionals, according to the Real Estate Institute of New South Wales. REINSW President Leanne Pilkington said it was critical for agents to be across the new Residential Tenancies Amendment (Review)…
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John McGrath reveals his top suburbs for 2019 in annual report
The 2019 McGrath Report has been released. In it, several trends to watch for 2019 are named, alongside John McGrath’s suburb picks. In his opening letter, Mr McGrath backed up his thoughts that the expected market corrections would not be as dire as predicted in media reports, saying that the current five – 10 per cent drop will likely be…
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Residential Tenancies Act reforms pass
Reforms to the Residential Tenancies Act have passed without amendment, according to the Real Estate Institute of New South Wales. These major changes affect the real estate industry, landlords & tenants. REINSW President Leanne Pilkington said the Residential Tenancies Amendment (Review) Bill 2018 has passed and REINSW is now commencing the first phase of educating the property management community. “It…
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Kiwi claims Australasia’s best auctioneer title for 2018
After a tight competition, the Australasian Real Estate Institutes’ Auctioneering Championship for 2018 has been awarded to Andrew North of New Zealand at a gala dinner at the Maritime Room in Auckland last night. Real Estate Institute of Australia (REIA) President Malcolm Gunning said the event, hosted this year by the Real Estate Institute of New Zealand (REINZ), who stage…
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CoreLogic appoints new Head of Real Estate
Fifth-generation real estate veteran Geoff White has taken over the reins as the CoreLogic National Head of Real Estate. A prominent member of the Victoria real estate industry with extensive expertise, Geoff has been CoreLogic’s Group Sales Director since 2017, and previously headed up the Real Estate Institute of Victoria (REIV). Mr White says that his time with CoreLogic Victoria…
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Finalists battle it out for the Australasian Auctioneering Crown
Australia and New Zealand are battling it out again, but this time the two countries are going head to head at the 2018 Australasian Real Estate Institute’s Auctioneering Championships, with the winner to be crowned Australasia’s best auctioneer at a gala dinner tonight. The Real Estate Institute of New Zealand (REINZ) is playing host this year and the five finalists who…
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Foreign Owner Duty Surcharge a disappointing blow for WA property market: REIWA
REIWA is disappointed that the members of WA Parliament have ignored the concerns of the property industry by voting to pass the Foreign Owner Duty Surcharge tax. REIWA President Damian Collins said the new tax would likely have significant consequences for the WA property market, which was just starting to show signs of recovery. “The WA property market has endured a…
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REIV elect third female president in 82 years
The Real Estate Institute of Victoria (REIV) has announced that the Board has elected Robyn Waters as President for 2018-19. Ms Waters was the first Australian woman to be appointed World President of the International Real Estate Federation (FIABCI) in May 2014. She served on the REIV Board as Senior Vice President in 2017-18 and as Director from 2001 to…
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Not so golden after all
This week is Golden Week – a holiday week for the Chinese where it used to be all about travel, and in Australia, property. But not for the last couple of years according to Juwai.com CEO Carrie Law. Ms Law says that the balloon has definitely deflated over the past three Golden Weeks, and while they still see some transactions, it’s not…
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Balance between renters and landlords needed in rental law reforms
The REIQ welcomes the Open Doors to Renting Reform consultation, which forms part of the Queensland Government’s Department of Housing and Public Works (HPW) ongoing review of the Residential Tenancies and Rooming Accommodation Act (2008). A snap poll on the Open Doors to Renting Reform website asked: “Would a pet bond help tenants and property owners reach agreement around keeping…
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Damian Collins elected new REIWA President
The REIWA Council has elected Damian Collins as the Institute’s new President. Following Hayden Groves’ announcement last week he would be finishing his term as President, the 2018-19 REIWA Council met on Thursday 4 October and elected Mr Collins to the Institute’s top position. Mr Collins has served on the REIWA Council since 2011 and as Deputy President since 2015. He…
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Banking Royal Commission releases interim report: What you need to know
The Royal Commission released their interim report last week from the investigation into Misconduct in the Banking, Superannuation and Financial Services Industry. The report has called into question how buyers are assessed for loans and is likely to mean serviceability will continue to tighten. The report also called ASIC into question for failing to police the banking sector and highlighted…
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Majority of NSW markets in decline as SA and QLD heat up in October 2018: Herron Todd White
The October 2018 issue of the Month In Review report from independent property valuation and advisory firm Herron Todd White shows that the majority of markets in New South Wales are either at their peak or declining, while Brisbane and Adelaide are still on the rise. Residential According to the firm’s Residential Property Clock, NSW’s North Coast region, including Coffs…
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October 2018: Interest rates on hold – industry reaction
Yesterday (2 October 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 remains robust, but demand by investors…
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Bubble Index 2018 suggests risk appears greatest in Hong Kong
UBS Global Wealth Management’s Chief Investment Office have released The UBS Global Real Estate Bubble Index 2018, indicating ‘Bubble risk’ or a significant overvaluation of housing markets in most major developed market financial centres. According to the report, ‘Bubble risk’ appears greatest in Hong Kong, followed by Munich, Toronto, Vancouver, London and Amsterdam. The study has also found imbalances in Stockholm,…
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Queensland becomes next state to face widespread rental reforms
The Queensland Government has announced a state-wide consultation to be followed with reforms to residential tenancy laws for renters and property owners. The consultation began on 30 September and will involve renters, landlords and real estate agents being contacted and asked for their views around the changing market and how successful the current system is. The reviews of the 40-year-old…
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Hayden Groves finishes his term as REIWA President
At REIWA’s 100th Annual General Meeting, held at Fraser’s Restaurant in Kings Park on Tuesday, Hayden Groves announced he would be finishing his three-year term as President on Thursday 4 October. Mr Groves, who will remain on the REIWA Council, was elected as President in 2015, having served on the Council since 2010. “The past three years have been extremely…
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REINSW recognises outstanding achievements at 2018 Awards for Excellence
The Real Estate Institute of New South Wales has announced the winners of its 21st annual Awards for Excellence at a Gala Dinner at Sydney Town Hall. REINSW President Leanne Pilkington said the best, bravest and brightest work across the industry was recognised. “The 2018 REINSW Awards for Excellence highlighted the industry’s biggest successes and most outstanding achievements across ten…
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“Legislative and regulatory disaster”: REINSW hits out at NSW Fair Trading
With a public letter of resignation, the Real Estate Institute of New South Wales has resigned from the Real Estate Reference Group and their position of providing real estate consultancy services to NSW Fair Trading. “Throughout the term of RERG, NSW Fair Trading has exhibited a demonstrable obedience to misguided philosophical views which have impeded, or entirely restrained, many beneficial…
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New Zealand real estate agents rate highly with sellers: CoreLogic
CoreLogic has released the 2018 Perceptions of Real Estate Agents Report, from a nationwide survey of homeowners, with all regions represented. The findings show that agents are rated as excellent practitioners of their craft in New Zealand, with high scores in presentation of properties, marketing materials and sales patter, and the majority (64 per cent) of vendors reporting as receiving…
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hockingstuart raise over $94,000 for Connor’s Run
Victorian real estate agency hockingstuart are very proud to have raised over $94,000 for Australia’s largest fundraising event for paediatric brain cancer, Connor’s Run. Connor’s Run has raised millions of dollars since its first run in 2013. It’s a cause that’s close to the hearts of everyone at hockingstuart, with 205 team members participating in the event which was held on 16th…
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Coldwell Banker announces iBuyer product to level the playing field
Realogy Holdings Corp (NYSE: RLGY) announced a partnership with Home Partners of America’s subsidiary, cataLIST, to offer a ‘quick-sale’ program via NRT’s Coldwell Banker brand in selected markets in the USA. This would allow their agents access to a similar model to compete with iBuyer or ‘quick sale’ programs already in the market. Through the cataLIST Program, an owner of a…
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Harcourts National Conference named a finalist in Australian Event Awards
Harcourts Australia National Conference has been confirmed as among the best events in the country with the announcement of National and State Finalists in the 2018 Australian Event Awards. Recognised as a world leader in real estate events, the Harcourts National Conference is a defining three-day experience both across the franchise network and throughout the real estate industry. The Conference…
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REA Group announces finalists for 2018 Annual REA Excellence Awards
REA Group has today announced the finalists for this year’s Annual REA Excellence Awards (AREAs), to be held in Sydney on Thursday 15 November 2018. The AREAs honour the most innovative, community-minded and highest-achieving individuals and businesses across the property and media industries. Twenty-one awards will be presented across the three categories of Innovation, Service and Marketing Excellence, and Community.…
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Domain appoints new Director – Corporate and Enterprise
Domain Group (ASX: DHG) has today announced that Jon McConkey has been promoted to Director – Corporate and Enterprise. In his new role, Mr McConkey will be responsible for managing and consolidating relationships with corporate partners for Domain’s residential and enterprise divisions. He will also drive greater exposure to data-driven insights and Domain’s property cloud proposition, reporting to Tom Ainsworth,…
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NSW rental laws set for biggest reform in two decades
For the first time in more than two decades, NSW rental laws are set for a massive shakeup. Major changes include limitations on rental increases and set fees for breaking a fixed-term lease. The reforms also look to bring in no penalties for domestic violence victims who break a lease. Other changes include minimum standards being introduced around access to…
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REINSW highlights pathway to professionalism at annual summit
The pathway to professionalism was the focus of the Real Estate Institute of New South Wales’ sixth annual summit, held in Sydney on Friday (15 September 2018). REINSW President Leanne Pilkington said The Future Is Now Summit saw a select group of 150 real estate agents come together to discuss one of the most significant changes to the industry and…
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Australia/NZ real estate tops GRESB global rankings for eighth consecutive year
For the eighth consecutive year, Australia and New Zealand’s real estate market has been ranked the world’s number one for sustainability in the internationally recognised 2018 GRESB real estate results. GRESB is the global benchmark for environmental, social and governance (ESG) performance of real assets, defining and measuring standards for sustainability performance. In 2018, GRESB assessed 903 real estate companies,…
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Solar energy likely to drive up home values: HTW
Sustainable homes will see an increase in value as more and more householders take up solar rebates and reduce household energy consumption, according to independent valuer and advisory group Herron Todd White. HTW’s Managing Director in Melbourne, Tony Kelly, said as homeowners continued to take advantage of solar energy rebates and substantially reduced energy costs, the value of their homes…
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Agents could bear the brunt of new anti-money laundering crackdown
Furthering the crackdown surrounding anti-money laundering rules in foreign investment, the government is considering relying on real estate agents to report suspicious purchases by foreign buyers. The joint public accounts and audit committee is reviewing the deficiencies in data around the foreign investment regime, with the ATO announcing on Wednesday they had conducted 4600 investigations into potential breaches since 2015.…
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Minimum rates of pay for real estate employees increase twice in one year
The need for real estate employers to adjust minimum rates of pay at the start of each financial year for employees covered by the Real Estate Industry Award or the Clerks – Private Sector Award is nothing new. But this year, because of the outcome of the four-year review of the Real Estate Industry Award, employers have had to make…
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