INDUSTRY NEWS
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Smart Cities Week heading to Australia in October
How can data analytics enhance social wellbeing? How can Australia capitalise on the future of 5G? Where does the potential for PropTech lie? These are just three of the topics on offer at Australia’s first Smart Cities Week, heading to Sydney on 29-31 October 2018. The global Smart Cities Council team today released the program for Smart Cities Week Australia,…
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Despite an overall softening, the outlook is good for most Australian property markets
Property valuers Herron Todd White (HTW) have released their monthly Property Clock report for June, and they say that at the halfway point, the outlook is not as bleak as it was thought to be earlier on in the year. Commercial Commercial is good news in all states other than SA and NT according to the HTW report. Although the…
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Zillow appoints first President in executive shuffle
Former Group Marketing Officer Jeremy Wacksman has been appointed President of Zillow after nine years with the company, making him the first person to hold the title. Mr Wacksman will oversee the entire Zillow brand, and continue to control the Zillow Group marketing in his role. In addition to this, he’ll be adopting the strategy, product development and engineering teams…
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Victorian Residential Efficiency Scorecard looks to commercialisation
The Victorian Residential Efficiency Scorecard is a voluntary report allowing Victorian homeowners to measure their home on an eco-scale. Although the report is currently voluntary, in response to stakeholder feedback the Department of Environment, Land, Water and Planning is exploring possible commercialisation opportunities for the product. The idea behind possible commercialisation stems from the idea of pushing the report into…
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IBISWorld predict growth for service-based franchises
Off the back of the recent parliamentary inquiry into the Australian franchising sector, industry research organisation IBISWorld has found that the future of franchising is not as ominous as it seems, with demand growth projected for service-based franchises. The Franchising industry’s complexion has changed dramatically over the past decade. Where once the industry was known for its prosperity, the franchising…
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Industry reacts to new ABS data showing continued housing finance falls
ABS housing finance figures show a continued fall in home loan lending as the fallout from the banking Royal Commission sets in. ABS data released today shows a 0.9 per cent drop in investor lending and an 0.2 per cent in all lending from the previous month, according to the seasonally adjusted figures from the ABS. While these falls are…
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Harcourts experiences substantial growth in US market
Despite just three years of operations in the US, Harcourts has seen significant growth in the region, under complex market conditions. Over the past 12 months, the US business has opened two new offices in Southern California, innovated their Harcourts Academy training, and continue to grow their non-distressed auction platform. Overall, agent numbers have drastically increased in this past year…
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Melbourne dominates population and residential hotspots in latest HIA report
HIA has revealed Australia’s strongest markets for home building in their HIA Population & Residential Building Hotspots report for 2018. “Melbourne has dominated this year’s report, with 12 of Australia’s top 20 building growth areas all located around Victoria’s capital,” said HIA’s Senior Economist, Shane Garrett. “According to the HIA Population & Residential Building Hotspots Report 2018, the Mickleham-Yuroke area…
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The Agency continues its expansion in Western Australian with acquisition
The Agency has acquired Inglewood Estate Agency, further expanding its reach in the Western Australian property market. Through this acquisition, the network has added a portfolio of approximately 80 properties to its property management arm. Inglewood Estate Agency Principal, Mark Jewell, will also come across to join the team. Established in 1960, Inglewood Real Estate was a longstanding family business…
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Submissions now open for the Annual REA Excellence Awards
Submissions are now open for the Annual REA Excellence Awards (AREAs), which celebrate excellence in the property and media industries. To be held on 15 November 2018 in Sydney, the AREAs will again honour the most innovative, community-minded and highest-achieving individuals and businesses across property and media. This year, three new Gold AREAs awards have been introduced to further recognise…
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The great build-to-rent debate
The argument has been raging in the property industry for years: why can’t the build-to-rent model of housing, popular in both the UK and the US, work in Australia? It’s a complex issue, and your answer will depend which side of the fence you’re on. The build-to-rent model, also known as the ‘multi-family’ model, would see developers or investors hold…
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Hervey Bay agent joins @realty in booming market
Hervey Bay agent Joseph Weger has joined the team at @realty as the Fraser Coast property market hits a ten year high. New data shows 2017 was the region’s best year for house sales since 2008. Figures from the Queensland Government Statistician’s Office show 2,236 home sales (excluding apartments and townhomes) were made in the 2017 calendar year – almost 70…
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Harcourts Australia names 2018 Hall of Fame inductees
During a gala black-tie evening, Harcourts International inducted Lisa and Ben Bernacki of Harcourts Alliance (WA) into the Harcourts Hall of Fame. Mr and Mrs Bernacki join a list of select real estate professionals recognised with the highest accolade in the Harcourts network. “To be awarded a place in the Hall of Fame amongst the very people that inspire us…
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Harcourts Group Australia National Awards announced
Major real estate franchise group, Harcourts Group Australia, held its annual conference from May 28-30 at The Star Casino, on the Gold Coast. Kicking off the group’s pinnacle event was ARIA award winning artist Guy Sebastian, in a surprise concert for over 700 conference delegates. Their annual conference is a combination of learning, presentations and announcements from a selection of…
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Airbnb crackdown: NSW government introduces 180-day cap on listings
The NSW government has announced a cap of 180 days per calendar year on empty properties rented out using Airbnb in Sydney. The ruling also allows strata corporations the power to ban Airbnb in their building if 75 per cent of owners are agreed. The decision comes after a drawn out debate over the policing of short-term letting, which is…
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Housing affordability improves, while rental affordability declines: REIA
Despite falls in Victoria, South Australian and the ACT during the first quarter of 2018, a new report from the Real Estate Institute of Australia and the Adelaide Bank has found that affordability is improving. The March quarter 2018 edition of the Adelaide Bank/REIA Housing Affordability Report found that the proportion of median family income required to meet average loan…
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How Instagram’s algorithm works, and how to make it work for you
According to Facebook-owned photo-sharing platform Instagram, before the controversial decision to ditch its reverse-chronological feed, users were missing 70 per cent of all posts, and 50 per cent of their friends’ posts. A new algorithm was introduced, reportedly to improve the user experience, but what made that algorithm tick has remained a closely guarded secret. Until now. Speaking to a…
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June 2018: Interest rates on hold, Industry reaction
At its meeting yesterday (5th June 2018), the RBA Board decided to leave the cash rate unchanged at 1.50 per cent for its 20th consecutive meeting. REA GROUP “The economy still isn’t growing fast enough to warrant an increase,” says REA Group Chief Economist Nerida Conisbee. “The issue is consumer confidence. While businesses are feeling far more confident, this is…
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Chatbots take on the human form
Chatbots are about to take on human form, courtesy of FaceMe and their digital assistants who look, sound and interact just like real people. FaceMe is an Artificial Intelligence platform that offers customised digital assistants which embody the most human of personas. It features avatars that can hear, see and remember customers, and “have the capacity to empathise for exceptional…
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ASX and InfoTrack partner up for $30m electronic property settlement platform Sympli
ASX Limited (ASX) and InfoTrack parent company Australian Technology Innovators Pty Ltd have announced the establishment of Sympli, which has applied to become an Electronic Lodgment Network Operator (ELNO). The platform, which is a 50/50 venture between the companies, will develop an electronic property settlements solution based on extensive feedback from users, to support lawyers, conveyancers and financial institutions. David…
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Online property exchange platform PEXA sees dramatic rise in exchange transactions for May
Digital property transactions are experiencing exponential growth as Property Exchange Australia (PEXA) announced that last month over 100,000 transactions had been completed on the platform, a 25 per cent jump from the month prior. In April the company also announced that over one million transactions were settled digitally on the platform. Digital transactions have grown from strength to strength with…
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ACproperty partners with ListGlobally to give agents access to 120 international property portals
Chinese property portal ACproperty has moved forward in their partnership with ListGlobally to launch Sodichan.com, an international property portal. Managing director Esther Yong told us more about the partnership and their plan for international property domination. “Agents put their listings on ACproperty and Chinese buyers come on the site, send enquiries or call them directly. Very similar to REA or…
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First rebranded C21 office opens its doors to loud applause
Century 21 The Hills District opened its doors in late April and adopted the new, modern and elegant ‘C21’ branding scheme that is currently being rolled out in 80 countries across the world as part of a historic repositioning of the global real estate giant. Despite being a new look team and office, Century 21 The Hills District secured over…
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First National Real Estate’s General Excellence & Marketing Award Winners Announced
First National Real Estate’s highest achievers have been presented with their General Excellence and Marketing Awards at the RACV Royal Pines Resort on the Gold Coast. The awards dinner brought recognition to Australia’s top national 2017 salespeople, property managers and administrators, and attracted more than 350 delegates from Australia, New Zealand and the South Pacific. The peak event on First…
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Sir Albert Jennings and Frank Charnock join the Australian Property Hall of Fame
The founding father of AVJennings and a business leader who pioneered commercial real estate in Australia have been inducted into the Australian Property Hall of Fame. Property Council of Australia National President, Susan Lloyd-Hurwitz, says Sir Albert Jennings and Frank Charnock were chosen by the board for their sustained and visionary leadership, and for their enduring contributions to the property…
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Sotheby’s appoints award-winning local agent to lead the Northern Territory
Sotheby’s International Realty has announced its expansion into the Northern Territory market. The global luxury real estate powerhouse has opened in Darwin, helmed by local realtor May Dunlop, adding to established Australian offices in Melbourne, Sydney, Gold Coast, Adelaide and Hobart. Ms Dunlop is no stranger to the Northern Territory real estate world and is looking forward to bringing the…
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Over 350 Delegates Attend First National Real Estate Convention
Independent real estate network, First National Real Estate, opened its 2018 National Convention at the RACV Royal Pines Resort on the Gold Coast yesterday. Over 350 estate agents are attending from Australia, New Zealand and the South Pacific. Former AFL footballer Simon Madden, Paralympic gold medallist Dylan Alcott OAM and current world ironwoman champion Harriet Brown were at the centre…
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Micro sized apartments equal major risk
Micro seems to be the latest buzzword when it comes to property, but do big things really come in small packages? While micro-apartments aren’t a new concept, as housing in major city hubs becomes out of reach for many first home buyers, they are an alternative to getting a foot on the first rung of the property ladder. However, the…
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realestate.com.au launches ‘Pet Profiles’ for tenants and property managers
realestate.com.au has launched ‘Pet Profiles’ on 1form – a feature that allows tenants to present their pet in the best light and saves property managers time when reviewing rental applications. Tenants, property managers and landlords were surveyed as part of a national study on pet ownership to help inform ways realestate.com.au can make the rental process easier. The study found…
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Realmark launch artificial intelligence platform for property management
Realmark has launched a new platform called, RealmarkFIX rolling out to all tenants and owners giving 24/7 access and transparency to maintenance. RealmarkFIX is an industry first for property management. The platform is artificial intelligence lead and probes the tenant for information to assess the problem, it then offers solution-based how-to guides to aid instant results before escalating it via…
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realestate.com.au launches Match – matching consumers with agents
realestate.com.au today launched Agent Match, a digital experience connecting sellers to agents on realestate.com.au. Agent Match connects agents with realestate.com.au’s audience of sellers who are interested in finding an agent to sell their property, providing appraisal opportunities and the chance to pitch for their listings. How does Agent Match work? realestate.com.au targets sellers and sends them to seller content on…
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Property Council welcomes NSW Productivity Commissioner
The Property Council welcomes the appointment of the new NSW Productivity Commissioner, Peter Achterstraat AM. “The Property Council has been a strong supporter of the establishment of a Productivity Commission as a welcome mechanism to hold a mirror to the way we operate and look for productivity improvements,” Property Council NSW Executive Director Jane Fitzgerald said today. “Mr Achterstraat’s experience…
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Real estate reforms have no set commencement date: NSW Fair Trading
NSW Fair Trading has confirmed that the CPD reforms in NSW don’t currently have a commencement date. Speaking to Elite Agent, a NSW Fair Trading spokesperson said that the CPD guideline changes were just one part of the package, and due to the size of the task at hand, no commencement date had currently been set. “The new CPD guidelines…
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Disruptors amongst top US brokerage firms
Real estate disruptors are gaining traction in the US, with innovative players like Redfin and Compass both named in the top 10 brokerage firms in terms of sales. According to the recently released inaugural Swanepoel Mega 1000 list, which ranks US brokerages, Redfin came in at fourth position with $22.5 billion in sales last year, while Compass took out ninth position…
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Biller Property opens its second office in Potts Point
Last Wednesday night Biller Property celebrated its expansion with the opening of its second office. The celebration of the new office located in Macleay St, Potts Point took place at the uber chic Bistro Rex across the road from the new office. Over one hundred guests dined on French canapes and cocktails while enjoying the sounds of live Jazz music…
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