INDUSTRY NEWS
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Auction volumes continue downward trend returning a preliminary clearance rate of 70.7 percent
The combined capital city preliminary clearance rate increased to 70.7 percent this week, up from 67.3 percent last week, while auction volumes fell week-on-week. There were 1,751 properties taken to auction this week, down from 2,001 last week. National auction clearance results for the week ending 09/07/2017 courtesy of CoreLogic Auction volumes were higher than this time last year when 1,399 auctions…
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Chinese buyers spent a record US$101 billion on international property last year
Chinese buyers spent a record US$101 billion on international real estate in 2016, according to a report by Juwai.com, the Chinese international real estate website. The US maintained its position as the top recipient of investment capital with Australia coming in second. The report projects Chinese international property acquisition will be lower in 2017 at around US$80 billion, but will…
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Core Logic Weekly Wrap – Census Data and Housing Supply
As our population continues to grow, so too does our need for more housing. The 2016 Census housing data shows an increase in housing stock between 2011 and 2016, and how the types of housing being built in capital cities have changed over those years. Despite being in the midst of a nationwide dwellings construction boom over recent years, the…
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Clearance rate for in-room auctions has been higher than on site: Cooley
Cooley’s has crunched the numbers to end the debate between in-room or on-site auctions – with ‘in room’ auctions winning by a mile. Cooley Auctions, the Sydney-based auctioneer group have compared both auction methods for selling a home and weighed up the pros and cons. Director Damien Cooley says his in-room auction numbers paint a persuasive picture. “The in-room numbers…
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Fewer new homes and apartments in the pipeline in May: HIA
Data released by the ABS shows there has been a decline in housing and apartment approvals over May 2017, raising questions on growing demands for housing by first-home buyers. The number of dwellings approved fell 1.9 percent in May 2017. In seasonally adjusted terms, approvals for construction of new homes fell by 5.6 percent in May, driven by a fall…
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‘No female quotas on boards’ – Kylie Walsh
Women can have it all, just not all at once. This is at the core of what Kylie Walsh’s experiences have taught her, being a highly ambitious and successful woman who has overcome adversity and still maintain a work-life balance. She is the General Manager of Di Jones Real Estate and sits on the board of REINSW. With chatter in…
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Andrew de Bomford of Harcourts Burnie wins Tassie auctioneering competition
Andrew de Bomford of Harcourts Burnie, Tasmania, beat out state-wide competition to win the Real Estate Institute of Tasmania 2017 Senior Auctioneering Competition. “It’s a real honour to win the competition and be recognised as No.1 in Tassie,” said Andrew, who entered the competition last year and was thrilled to take out the title for the first time. Andrew has…
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Ouwens Casserly ‘orange stars’ shine bright in sales and customer service
Girl power seemed to be the name of the game in the Ouwens Casserly Real Estate EOFY Awards held recently, with Cynthia Sajkunovic taking out the coveted number one agent spot. Director Alexander Ouwens said the awards reflect the customer-service focus of Ouwens Casserly rather than focusing simply on numbers and dollar figures. “As directors, the awards we hold most…
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Fairfax confirms no binding offer from TPG, Hellman Friedman
Fairfax is set to spin off Domain as a separate entity on the ASX, confirming that they had not received binding offers from either TPG Capital or Hellman & Friedman. TPG originally made a bid for Fairfax in May, initially offering 95 cents a share and increasing it to $1.20. Hellman & Friedman soon followed with an offer valued at…
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Core Logic Home Value Index June 2017
Capital city dwelling values rise 0.8% over June quarter, the slowest quarterly growth rate since dwelling values fell over December 2015 quarter. Despite a seasonally strong result over the month of June, the CoreLogic Hedonic Home Value series shows that momentum of capital gains over the second quarter of 2017 is losing steam. Highlights over the three months to June…
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Wrap up – What’s new for FY 18: Samantha McLean
July 1 is a date in everyone’s calendar. Not only is it the start of the new financial year, and the halfway point in the calendar year, but also the date when many of the state and federal budget initiatives come into effect. Here is a roundup of what’s changed around the country and in each state when the clock…
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Auction volumes fall below 2,000 across the capital cities returning a preliminary clearance rate of 70.3 percent
The combined capital city preliminary clearance rate increased to 70.3 percent this week, up from last week, when the final results saw the clearance rate fall to 66.5 percent, the lowest clearance rate since June 2016. National auction clearance results for the week ending 02/07/2017 courtesy of CoreLogic Auction clearance rates have been trending lower since reaching a peak at the end of…
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Building Ministers Move on Building Product Safety
Friday’s meeting of the Intergovernmental Building Ministers’ Forum (BMF) presented an opportunity take action on building product safety in the wake of the recent London Grenfell Tower fire and follows calls by many to undertake audits of residential apartment buildings and other high risk buildings. The BMF is a body of Commonwealth, State and Territory Ministers responsible for building and plumbing policy and…
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CoreLogic weekly wrap up – NSW and Victoria remain most popular states for migration
Demographic data released this week from the Australian Bureau of Statistics (ABS) shows a rapid rate of population growth driven by migration. Overseas and interstate migration remained the key drivers for population growth, in turn driving housing demand, according to CoreLogic research analyst Cameron Kusher. “Whereas natural increase removes older people and adds younger people, interstate migration and overseas immigration…
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HIA: Back-to-Back Increases for New Home Sales
Large increases in Queensland and New South Wales drove new home sales higher for the second consecutive month during May 2017 according to the latest edition of the Housing Industry Association’s New Homes Sales Report. During the month of May 2017, total new home sales increased by 1.1 per cent. This was helped by a 2.2 per cent increase in…
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Revive 2017 Round Table Series: SA
At the half way mark of the Revive 2017 Wellness and Wellbeing in Real Estate Round Table Series, the tour (which began in Melbourne on Tuesday,) has now left Adelaide, with already some actionable takeaways from the first two meetings.
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REA Group appoints Tomas Varsavsky as company’s first Chief Engineer
REA Group has appointed Tomas Varsavsky to the role of Chief Engineer. Mr Varsavsky will report to the REA Group Chief Executive Officer, Tracey Fellows. Varsavsky will be responsible for setting the strategic technology direction for the group and leads centralised teams around data, security, enterprise technology, infrastructure and architecture. Mr Varsavsky has been with REA Group for seven years where he was…
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realestate.com.au strengthens home loan offering with acquisition of majority stake in Smartline
realestate.com.au has announced it will enter the mortgage broking market with the acquisition of an 80.3% stake in one of the country’s premier mortgage broking franchise groups, Smartline. With an average monthly audience of 5.9 million, realestate.com.au will now have access to over 300 Smartline advisers nationally. This acquisition adds to the strategic partnership with NAB, announced in December 2016, to…
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realestate.com.au and NAB sign strategic mortgage broking partnership
realestate.com.au has announced it is building on its expansion into financial services by signing a new strategic mortgage broking partnership with NAB. realestate.com.au and NAB have also agreed to build a mortgage broking solution, which adds to the strategic partnership announced in December 2016 to create an Australian-first end-to-end digital property search and financing experience. To help achieve this, NAB…
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More People Renting and More Apartments: HIA
“The symptoms of an under-supplied housing market continue to show-up in today’s census figures,” stated Tim Reardon, HIA’s Principal Economist. “The number of people living in each dwelling has increased in Sydney and Melbourne to 2.7 people (2.6 nationally). Furthermore, the number of households with six or more people has increased by 20 per cent since 2011. “There has been…
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Pain and Gain: The Best and Worst in the March Quarter
According to the CoreLogic Pain & Gain March 2017 quarter report, nine out of 10 people (90.4%) who re-sold a property during the March 2017 quarter earned themselves a profit. Report Highlights 9.6% of dwellings sold for less than their previous purchase price over the first quarter of 2017. Proportion of dwellings selling for less than the previous purchase price…
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To New Beginnings: Nikki Gogan Moves to Caporn Young
After 30 years in Northam, WA and 11 and a half years as a member of the Hollett & Lawrence Real Estate team, Nikki Gogan has moved to Fremantle to be a part of Caporn Young, working closely with Associate Director and RERN Hall of Fame winner Stefanie Dobro. Speaking to Samantha McLean yesterday, Nikki says while she is excited about the…
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Clearance rates continue to trend below 70 percent across the combined capitals on similar volumes as last week.
There have been 1,840 capital city auction results reported to CoreLogic so far this week, resulting in a preliminary auction clearance rate of 69.1 percent across the combined capital cities. There were a total of 2,323 capital city auctions held this week, down from the 2,444 held last week. National auction clearance results for the week ending 25/06/2017 courtesy of CoreLogic This…
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Values Increasing Faster than Outstanding Debt: Tim Lawless
The number of properties mortgaged is climbing, however, values are increasing faster than outstanding debt, says CoreLogic’s Tim Lawless. Last week, the Australian Bureau of Statistics (ABS) released its residential property prices indexes for the March 2017 quarter. A valuable data set from the release relates to the value of dwelling stock and the number of residential dwellings. Both of…
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REA Group confirms Henry Ruiz as CEO, REA Group Asia
REA Group today confirmed the appointment of Mr Henry Ruiz as CEO, REA Group Asia effective immediately. Mr Ruiz, who has been acting in this position since March 2017, is responsible for the Group’s Asia business including iProperty Group across Southeast Asia and Chinese property site myfun.com. Commenting on Mr Ruiz’s appointment, Ms Fellows said: “Asia is a key region…
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REA makes Forbes list of most innovative growth companies
Forbes has released its annual list of the most innovative growth companies with market values between $2 billion and $10 billion. REA Group, parent company of realestate.com.au made the list among other high-profile business from around the globe. REA Group ranked 35th on the list and was only one of four media companies that made the cut. It is valued at…
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First home buyers are big winners of NSW budget at expense of foreign investors
First-home buyers are the big winners in NSW Treasurer Dominic Perrottet’s first state budget, which was delivered on Tuesday. In a budget that the Treasurer labelled the “envy of the Western world”, housing affordability was a key issue along with health and schools. The Treasurer said in his speech that part of the $4.3 billion housing affordability package includes strategies…
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Submissions closing soon for AREAs
Submissions are closing soon for the Annual REA Excellence Awards (AREAs), which recognise property industry players who go above and beyond. Now in their second year, the AREAs honour innovative, community-minded high achievers across the entire property industry – from residential and commercial agents, property developers and home builders to those providing home loans or working in the media. Residential…
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Shire agents unite against domestic violence
Real estate agents are in the business of selling the dream of a happy home. But, for some families, home is not a happy or safe place. The demand for support services in domestic violence cases has prompted business owners in the Sutherland Shire to join together and commit to the fight. One of these businesses has been Highland Property…
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ABS: Residential property prices rise 2.2 pc in March 2017 quarter
Residential property prices rose 2.2 per cent in the March quarter 2017 according to figures released on Tuesday by the Australian Bureau of Statistics (ABS). This was the fourth consecutive quarter of growth. Even though residential property prices increased in most capital cities, Sydney and Melbourne were the main drivers of the result. The price rises in Sydney (3 per…
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Millenials investing in stock market to build wealth
It appears that an increasing number of young Australians are stashing their cash in the stock market in a bid to build wealth and get a foot on the property ladder. AAP reports that millennials now make up almost 30 per cent of active CommSec accounts, representing 70,000 trades per month. ‘As we all know it is becoming more and…
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New HIA national president
Pino Monaco has been elected National President of the Housing Industry Association (HIA), the official body of Australia’s home-building industry. Mr Monaco’s involvement with the HIA started over 30 years ago. He has served on various HIA committees and task forces at a state and national level as a committeeman, Vice Chair and Chair. Mr Monaco has been a long-serving…
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iBuyNew Group partners with iSelect
Off the plan specialist iBuyNew Group Limited (ASX: IBN) has signed an agreement with comparison site iSelect Limited (ASX:ISU), matching qualified approved home loan leads with their selection of off the plan property. IBN has announced iSelect as a top tier partner who they believe are capable of delivering a significant number of prequalified potential property buyers to them. In turn, IBN…
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Day One: PPM 2017 Conference Wrap Up
A sell-out crowd of 200 property managers from around Australia descended on the Marriott at Surfers Paradise yesterday for the 15th annual PPM Conference. The event was jump started with the electric Amanda Gore, who blends the science of EQ, Positive Psychology, Neuroscience, Epigenetics with a frank and hilarious presentation about mindset. Amanda challenged delegates to be more aware of…
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Auction volumes rise to 2,407 across the capital cities returning a preliminary weighted clearance rate of 69.6 percent
There were 2,407 auctions held across the combined capital cities this week, with a preliminary auction clearance rate of 69.6 percent. Last week, the final clearance rate fell to 67.8 percent, recording the lowest clearance rate year to date, across 1,279 capital city auctions. This is the 3rd week in a row now where the combined capital city clearance rate…
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