INDUSTRY NEWS
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Still more buyers than sellers: Gavin Rubinstein
THE number one agent within Ray White Australia, Gavin Rubinstein, says buyer demand is still outweighing supply in the Eastern Suburbs. From an agent who is at the coalface of the property market with listings on his books ranging from $25 million to $1.5 million , his helicopter view of all price points in the blue chip pocket was very…
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Harcourts spreads reach toward South Coast
Daniel McConnell, Director of Harcourts Shellharbour City/Albion Park, has been joined by Daniel Dajcic in opening a new office Harcourts Kiama. The dynamic duo is excited to lead the new company, with a focus on offering clients’ a superior experience whilst maintaining youthful passion and energy. The pair have over 25 years combined real estate experience in the Illawarra region.…
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New weapon in the sub-letting battle
Landlords and agents now have a new weapon at their disposal in the battle against illegal sub-letting, with the launch of an Australia-first monitoring service called BnbGuard. Live as of late last year, but publicly launched last week, BnbGuard was created by an Australian start-up and monitors properties for unauthorised use on popular short-stay accommodation sites such as Airbnb. Co-founders…
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Catapult Property Group Launches Lending Division
Leading property development company Catapult Property Group has launched a new residential lending division to assist first time buyers to enter the real estate market. Catapult Director Dylan Crowe said the Brisbane-based company, which has almost $130 million of residential projects in Queensland and NSW, had created a first home buyer program to enable clients to obtain a home loan…
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New Grants To Boost Social Housing Stock
The Andrews Labor Government is providing grants of up to $200,000 for local governments to help build new, innovative social housing projects. Minister for Housing, Disability and Ageing Martin Foley today announced the $2 million Social Housing Investment Planning grants program during a visit to the Stokes Penola public housing estate – currently under construction in Preston. The $20 million…
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Dexar Group recruits big data expert Jeffrey Gray to the role of Chief Commercial Officer
The Dexar Group have announced the appointment of Jeffery Gray, to the newly created role of Chief Commercial Officer. With a Masters in Business Administration, Mr Gray has held positions with Domain Group, Aristocrat and Lexis Nexis, and has consulted with QANTAS and Hutchison Telecom. According to a group press release, this experience gives him a unique insight to the…
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NPP is a game-changer if all banks step up to the plate
A new payments system has officially launched in Australia, giving consumers and businesses access to a new and modern payments system. Soon, services that use the New Payments Platform’s (NPP) capabilities will commence rolling out from about 60 banks, building societies and credit unions across the country. This will give consumers and businesses the ability to Transfer money instantly between…
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Lisa Halpin to open Sotheby’s International Realty new North Gold Coast Office
Lisa Halpin has been appointed by Queensland Sotheby’s International Realty to head up its new North Gold Coast office. Ms Halpin started working within the Gold Coast real estate industry just five years ago and has already forged a reputation for strong sales garnering more than $130 million in recent residential property deals. Ms Halpin started with Queensland Sotheby’s International…
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CoreLogic acquires UK tech company to bolster global operations
CoreLogic® (NYSE: CLGX), global property information, analytics and data-enabled solutions provider, has today announced the completion of the company’s acquisition of eTech Solutions Limited (eTech). Founded in 2005, eTech is the UK’s leading provider of innovative mobile surveying and workflow management software that enhances productivity and mitigates risk for participants in the UK property market. With more than 50% of…
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NSW falling behind on housing completions: Property Council of Australia
NSW is trailing both Victoria and Queensland in the pursuit to build enough homes for their respective populations in a worrying sign for addressing housing affordability in our State. The Property Council of Australia has compared historic data of the number of housing completions per thousand people in NSW, Victoria and Queensland and has found New South Wales comes up…
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Rent.com.au improves position
Rental property website rent.com.au say they are improving their position, notching up their tenth straight quarter of revenue growth on the back of increased product demand and reduced costs. Offering rental property searches and products like renter resume creation, bond payment plans and tenancy record checks, the company reported revenue of $557,000 for the second quarter of 2018, up 43…
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East West consolidation planned by The Agency to drive further growth
The Agency Group Australia Ltd (formerly “Ausnet Financial Services Ltd”) exercised an amended option to acquire Top Level Real Estate Pty Ltd (currently Trading as The Agency East Coast). According to the AFR, if successful, this deal alongside the acquisition of Sell Lease Property it will transform The Agency into a $50 million dollar business at the end of February.…
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First farms to be sold under new FIRB laws
The first farms subject to Australia’s new foreign investment selling rules will be sold in mid-March, according to its owner and marketing agents. The Twynam Agricultural Group – founded in the 1970s by John Dieter Kahlbetzer – has appointed agents to sell three properties in western NSW as part of its downsizing program. The Kahlbetzer family’s agricultural group began divesting…
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New outsourcer of rental inspections helps time poor consumers
One executive’s search for a rental property highlighted a gap in customer service, along with the creation of a new outsourced rental inspection service called Propzee. For James Bentley, a newly relocated executive from the UK, the rental inspection experience was frustrating, particularly in Melbourne’s hot rental market. James found inspections clashed, were at inconvenient times, on the weekend interfering…
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Energy changes for new homes out for comment
The Australian Building Code Board (ABCB) last week released the public comment draft of the 2019 Building Code that includes changes to the energy efficiency rules for new homes. In a press release from the HIA, they believe the resulting changes now out for comment will make a significant difference in the energy ratings for new homes across Australia. Last week’s…
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Ray White Warrnambool celebrates 20 years
Ray White Warrnambool has celebrated many achievements over the years, but none have been quite as special for them as marking 20 years with the Ray White Group. Principal Jess Densley proudly leads this award-winning regional Victoria office after joining the group in 2007. “It’s exciting and it means a lot,” said Mr Densley. “We’ve become a dominant player in…
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Window lock deadline looms as NSW strata buildings embrace new legislation
A new year and new legislation has come into effect for strata buildings in NSW, with mandatory window locks, and a building bond and inspection scheme among the changes currently impacting the sector. In legislation that will affect multi-storey strata buildings throughout the state, Fair Trading NSW has set a March 13 deadline for the installation of window safety devices…
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Zed Nasheet on stage for Million Dollar Evening with the Altman Brothers
In a little over a decade, Australian real estate agent Zed Nasheet has risen from hot dog salesman to rising local real estate star, notching up some achievements along the way. Aged only 27, he’s been in the game around eight years and recently opened his own agency, listing $45 million worth of property in the first two months. Last…
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Ross Whiteman awarded a prestigious OAM
Congratulations to Ross Whiteman in Western Australia on his recent Order of Australia medal in the Australia Day honour’s roll. Ray White Western Australia CEO Mark Whiteman said he was so proud of his father’s award in recognition of many years of service and dedication to such a worthy cause. “Dad was recognised for his service to people living with…
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Real Women in Real Estate gaining traction
An Australian initiative that celebrates the success and achievements of women in real estate is gaining local and international traction, with a series of events scheduled to take place in 2018. Real Women in Real Estate is a networking group founded by Real Estate Institute of NSW President and Laing+Simmons Managing Director Leanne Pilkington, and since its inception has attracted…
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Westpac Annual Home Ownership Report reveals new home buyer trends
Westpac’s 2017 Home Ownership Report reveals first home buyers1 have significantly reprioritised what matters most when searching for their ideal home. The research, commissioned by Westpac in September, surveyed over 1,000 Australian homeowners and first home buyers, and features trend data from the past two years. The latest report demonstrates in 2017 first home buyers are less focused on buying…
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Debate pending for NSW real estate industry reforms
Long-awaited NSW real estate industry reforms are set to be debated in parliament in the coming days following the release of proposed amendments to the Property, Stock and Business Agents Act in November 2017. The bill includes changes to real estate and property laws affecting training, educational and licensing requirements in a bid to raise professional and training standards for…
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Revive whitepaper flags potential to thrive not just survive
A seminal project investigating the wellness and wellbeing of professionals working in real estate has documented what has long been suspected – many in the industry are stressed, time poor and lacking a work/life balance. However, the findings also reveal seven key areas to facilitate change. Initiated by real estate industry sales and mindset coach Jet Xavier, the recently released…
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Feb 2018: Interest rates on hold, Industry reaction
The RBA has left the cash rate on hold in their first board meeting for 2018, deciding at their first meeting of the year to leave the cash rate unchanged at 1.50 per cent. RBA Governor Dr Philip Lowe noted while inflation remains low globally, higher commodity prices and tight labour markets are likely to see inflation increase over the…
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Campaigntrack signs Tiger Pistol to boost results using Facebook and Google
Campaigntrack has inked a deal with Tiger Pistol, one the most talked about Australian technology platforms to hit the internet. While Tiger Pistol’s advanced Facebook technology is being used by big brands in many verticals, Campaigntrack’s specialist real estate focus is now using the technology to boost its unique Advanced Internet Marketing (AIM) product. If you are not familiar with…
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REA Group appoints Georgia Beattie to head up Spacely
REA Group has announced the appointment of Georgia Beattie as Executive Manager of Spacely, the company’s new property website for shared work and short-term commercial spaces for events, retail, meeting rooms and creative spaces. Ms Beattie joins REA Group from Startup Victoria where she has served as chief executive since 2016. Launched in May last year in beta, Spacely is…
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Say hello to Diana, the real estate agent of the future
Bayside buyers and vendors can now meet face-to-face with Diana Dugan without leaving home, after the Beaumaris real estate director launched the country’s first augmented reality property website. When you log onto dianaduganproperty.com.au Diana, the company director, is smiling back at you from her North Concourse Beaumaris virtual office, ready to lead you through the website with voice recognition technology.…
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New site showcasing properties without the commitment to selling
Property owners looking to test the market or showcase their home without the commitment of selling have yet another new tool at their disposal, with the recent launch of off-market property website youWish. Launched in late December, the site is gaining traction for owners considering but not yet committed to selling their home. youWish enables homeowners to casually showcase their…
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Low inflation helps give home owners an interest rates reprieve: RateCity
Sluggish inflation figures mean the RBA will almost certainly leave interest rates on hold when they meet for the first time this year on Tuesday. RateCity’s RateForecaster shows 22 of the 23 economic indicators studied point to the RBA leaving interest rates at record lows. RateCity money editor Sally Tindall said we would need to see significant movement in inflation…
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CoreLogic January 2018 Home Value Index: values fall across six of Australia’s eight capital cities
CoreLogic released its January hedonic home value index results which, at a national level, revealed a fall of 0.3% for the month, led by a 0.9% fall in Sydney dwelling values. The national combined dwellings index posted a modest 0.3% fall in January, taking dwelling values 0.7% lower since their recent peak in September last year. Dwelling value falls were…
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Victorian Government proposed reforms will push rents higher and send investors interstate, says PICA
The Property Investors Council of Australia (PICA) have urged Victorian property investors to unite and petition the State Government to amend the proposed changes to the Residential Tenancies Act. They say Victoria’s new rental laws, announced in October 2017, are will strip landlords of many essential rights, in favour of tenants. PICA chairman Ben Kingsley said a falling rental supply amid a…
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Rental Inflation at 25-Year Low
“The pace of rental price growth dipped to just 0.6 per cent in 2017, the slowest pace of growth since 1993,” commented HIA Senior Economist Shane Garrett. These figures are contained in the ABS Consumer Price Index release for the December 2017 quarter published today. “For families reliant on the rental market, the deceleration in rents is welcome news. “The…
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Inner Brisbane vacancies ease, rest of the State tightens
Renters flocked to the middle ring, while supply in inner Brisbane exceeded demand, pushing the vacancy rate to 4 per cent, according to REIQ December quarter rental data released today. Inner Brisbane (0-5km ring) vacancies lifted from 3.7 per cent in September last year to 4 per cent in the December quarter, while the middle ring sharply tightened from 3.4 per…
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Striking the balance between technology and the personal touch
Technology might be offering a host of potential for the real estate industry, but a new report has found the key to using it successfully is striking the right balance between personalisation and automation. US-based online real estate service Move Inc and their subsidiary software arm Realsuite recently released their report “Shift Happens: How to capture, communicate and close in…
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Victorian government announces initiative to get young people into their own home
The Victorian Government’s announcement that it will be soon accepting applications for its shared equity scheme known as HomesVic has been welcomed by HIA – it is a positive scheme that addresses the rising problem of housing affordability and will help see young people achieve the Aussie dream of owning their own home faster,” senior spokesperson for HIA Kristen Brookfield said. “The…
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