INDUSTRY NEWS
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Investors Still Keen In Buying Properties In Australia says Momentum Wealth
Despite concerns over potential property price bubbles, oversupply issues and cyclical downturns, Australian property investors remain bullish with one in two investors aiming to grow their portfolios in the next few months. A national survey of 444 property investors by property investment consultancy Momentum Wealth found that 53 percent of respondents said their primary goal right now was to either…
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Residential zones changes a step in the right direction: HIA
The Victorian Government’s plans to change some requirements of the residential zones will improve housing outcomes in its suburbs said the Housing Industry Association (HIA). HIA’s acting executive director Keith Banks said the state government’s recent announcement on amending the residential zones has been seen as a logical starting point to improve residential outcomes. In the past HIA has argued…
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REIA: Property prices reflect state economies
The median house price across Australian capital cities has risen by 4.1 percent for houses and 2.1 percent for other dwellings, the latest research by the Real Estate Institute of Australia (REIA) has found. The REIA Real Estate Market Facts for the December quarter last year saw the average median house price for the eight capital cities at $743,496. REIA president…
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REIWA wants Labor to do more in addressing housing affordability in the state
The Real Estate Institute of Western Australia (REIWA) hopes the new Western Australian Labor-led government would look at more ways of addressing housing affordability. REIWA President Hayden Groves said it is important in particular for Labor to address the barrier state property taxes, like transfer duty and land tax aggregation rules, have on the buying and investing decisions of the…
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Brisbane’s new dwellings has hit a high of $655k: REIQ
Brisbane’s new median house prices have hit a new high of $655,000, said the Real Estate Institute of Queensland (REIQ). REIQ’s Queensland Market Monitor: December 2016 quarter report showed that the sunshine state’s housing market had shown moderate growth throughout last year, with a final quarter revealing a strong result for houses in the south-east corner with weaker demand for…
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HIA is happy that Federal Gov is doing more to help first home buyers
The Housing Industry Association (HIA) has thrown its support behind the Turnbull Government’s to focus on first home buyer access and reducing the costs of new housing supply. Treasurer Scott Morrison is currently in London, looking to find ways to open up our housing market to more people and help solve the crisis in some of our cities, taking the…
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RBA may further curb foreign lending towards overseas investors
There is a possibility that the RBA could take further macro-prudential measures in stifling lending towards foreign investors in order to give more locals the much-needed break into its own housing market, particularly on the east coast of Australia. Referencing the 2014 macroprudential measures which included cap on investor lending growth and more prescriptive loan serviceability guidelines, Assistant RBA Governer…
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REIA Launches Course For Agents Providing Financial Advice
The Real Estate Institute of Australia (REIA) has partnered with the Institute of Public Accountants (IPA) and launched a new training course for real estate agents providing advice on properties as an investment. REIA president Malcolm Gunning said the RG146 Advice for Real Estate course by IPA would be made available immediately through Mentor Education, a training company based out…
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Keiren Cooney appointed as REA Group first ever CMO
REA Group has appointed Kieren Cooney as its chief marketing officer (CMO) in this newly created role. Cooney joins REA Group armed with more than 20 years experience in various senior marketing and telecommunications roles which includes the former chief executive of Omnicom Interbrand. Before Omnicom, Cooney has also held CMO positions with NBN Co and Telecom New Zealand. His…
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Henry Ruiz appointed as Interim CEO for REA Group Asia
REA Group has announced that it has appointed Henry Ruiz as its new Interim CEO for REA Group Asia effective immediately. Ruiz, who is currently REA Group’s chief digital officer, will oversee the group’s Asia business including iProperty Group across Southeast Asia and its Chinese property site Myfun.com, the company told ASX on Friday. Ruiz will continue to report to…
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Taking on the Tribunal and Winning
Kevin Hodges, Director of Kevin Hodges Real Estate in South Australia challenged the ‘unfairness’ of the SACAT in relation to the landlord’s duty to mitigate the loss of a tenant in relation to a break lease scenario and came out on top. There is a requirement in most cases, that in the event of a tenant breaking their lease, that…
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New home building activity to move back a notch Australia-wide this year
New home building activity in Australia is forecasted to move back a gear in this year from the record highs seen in the past 12 months, said Housing Industry Association latest national outlook report which was released yesterday. “New dwelling starts hit an all-time high of 228,230 during the year – the culmination of the longest housing upturn since the…
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Capital city preliminary auction clearance rate rises to 80.8 percent on half the volume
Capital city preliminary clearance rate rises to 80.8 percent, with auction activity across the capitals significantly lower National auction clearance results for the week ending 12/03/2017 courtesy of CoreLogic This week 1,402 auctions were held across the combined capital cities, significantly lower than the 2,907 held last week and lower than one year ago (1,488). Four out of the eight states and…
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Housing Bubble Speculation Unwarranted: Ray Ellis
First National Real Estate which comprises one of the country’s largest networks of independent agents believes constant media speculation about the risk of a housing bubble is based on overseas analysis that fails to account for the country’s unique circumstances. “The Organisation for Economic Cooperation and Development’s (OECD) recent assertion that Australian house prices may represent a threat to the…
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New home loans down in Jan: HIA
Loans for new homes have contracted in January affecting the overall lending activity among interested purchasers, according to the Housing Industry Association (HIA). Figures released on Friday by the Australian Bureau of Statistics indicate that the volume of loans for new homes eased back during January, HIA senior economist Shane Garrett said. “Despite the reduction during January, the actual volume…
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Why Social Media Should Now Be Considered Traditional Media: Anders Sörman-Nilsson
Forty-eight percent of small businesses and 79 percent of large companies have turned to social media to promote their brand and business to the world. TEDx speaker and author of Seamless “A Hero’s Journey of Digital Disruption, Adaptation and Human Transformation” Anders Sörman-Nilsson said companies without a social media presence were expected to add at least one platform in the…
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Two Young Guns Appointed Into Top Positions at Allard Shelton
Melbourne-based commercial real estate firm, Allard Shelton has appointed James Gregson and Michael Ryan as its executive director effective immediately. They will join Allard Shelton from Fitzroys, bringing with them more than 13 and 15 years’ experience, respectively in the commercial property space. Allard Shelton director, Joseph Walton, said the appointments were part of an effort undertaken by the company…
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realestate.com.au launches new lifestyle site
Realestate.com.au have launched “lifestyle” a new content experience for lovers of property. Lifestyle on realestate.com.au launches with over 720 informative and engaging articles. An in-house content team will be joined by Lifestyle experts to bring stories to life. realestate.com.au to introduce a marketing campaign extension to coincide with Lifestyle launch. For more than 20 years realestate.com.au has helped Aussies find a…
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Raine & Horne expands to Riverwood, New South Wales
As part of its continued expansion in Sydney’s South, Raine & Horne has opened a new office at Riverwood. The new office will be led by Gary Singh, who has recently rebranded his three year business Goldstarr Property Group into the 134- year old real estate franchise for ease of business. “Raine & Horne is high in the South West,…
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Master Builders appoints its first ever female CEO
The board of Master Builders Australia has broken its 127-year-old tradition and hired Denita Wawn as its first female CEO and chose to make the announcement on International Women’s Day held on Wednesday. Wawn whose appointment takes effect on March 20 will represent the interest of $200 billion building and construction industry and is only the third CEO for the association…
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REIA’s Awards finalists revealed
The Real Estate Institute of Australia (REIA) has released the names of finalists for its awards night do which will be held at Hyatt Hotel in Canberra on March 23. REIA president Malcolm Gunning in a statement said the National Awards for Excellence 2017 would showcase Australia’s most outstanding performers in the profession, adding that the winners will be announced via…
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Property Guru may consider to list in Australia, says its CEO
Singapore-headquartered Property Guru, one of Southeast Asia’s renowned property website may consider a stock listing in Australia next year, its chief said. In an interview with Bloomberg in Singapore last week, the portal’s CEO Hari Krishnan said the company which was backed by TPG Capital, an American investment company was on track in turning a profit this year as after…
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REIA: Affordability Declines Despite Historically Low-Interest Rates
Housing affordability has been reduced across all Australian states in the December quarter of last year, with New South Wales (NSW) remaining the least affordable state for homebuyers, according to the Real Estate Institute of Australia (REIA). The latest Adelaide Bank/REIA Housing Affordability report saw the proportion of income required to meet loan repayments rise to 30.4 percent, an increase…
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REIWA: February Sales Activity Increases In Perth
Sales activity in the Perth metro region rose in February, with the Real Estate Institute of Western Australia (REIWA) data showing that volumes were up by eight percent compared to January. REIWA president Hayden Groves said the improve activity in February was welcoming after the traditional lull between the Christmas and New Year holiday period. “It’s good to see buyers…
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Building approvals rises in January says HIA
The Australian Bureau of Statistics (ABS) data has recorded a growth in the number of building approval in January, the Housing Industry Association (HIA) said. HIA Senior Economist Shane Garrett said the total dwelling approvals rose by 1.8 percent in January due to robust activity recorded on the multiunit side and resulting in a 6.6 percent expansion in multi-unit dwelling…
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REIA: Renters Forgotten Victims of Negative Gearing Reforms
Changes to negative gearing policy would drive up rents and affect the most vulnerable people in the community, according to the Real Estate Institute of Australia (REIA). REIA president Malcolm Gunning said political gamesmanship had seen the plight of first homebuyers, low-income earners and other renters forgotten in the debate around reforms to negative gearing. “One of the primary beneficiaries…
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RBA leaves cash rate unchanged at 1.5 pct, industry reacts
The Reserve Bank of Australia (RBA) has left the official cash rate unchanged at 1.50 percent on Tuesday with no plans of an imminent hike anytime soon, the Housing Industry Association said. The association’s senior economist, Shane Garrett had welcomed the decision but felt some areas needed improvement especially when it came to tightening the conditions for investors. “There has…
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Laing+Simmons MD says NSW gov should do more to help first home buyers into the market
The Reserve Bank (RBA) has left interest rates on hold as expected, piling more pressure on the New South Wales (NSW) government to take the lead out of its Victorian counterpart and introduce strategic measures to support first home buyers. Laing+Simmons managing director Leanne Pilkington said interest rates were at their lowest point in the cycle particularly from the bank’s’…
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Leah Jay honours its all girl dream team on International Women’s Day
Newcastle-based property management company Leah Jay is acknowledging its 50 female staff today, International Women’s Day. Twenty-two years after the business was founded, the company has grown from strength to strength to four offices with 50 staff – all of whom are women. While the predominance of female workers not unusual within the property management sector, the fact that all…
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No relief in sight for buyers and renters as Aussie property demand skyrockets
Demand for property has hit yet another record high in February, suggesting that the price growth will continue, while the affordability crisis in Sydney and Melbourne will only become more prevalent, the latest REA Group Property Demand Index report said. As a result of this, people will continue to be priced out of the market and pushed to regional areas,…
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Connect Overseas Buyers with Video
According to CoreLogic and the Australian Property Council, in 2016 more than 23 per cent of Australian properties were sold to foreign buyers. That’s a $61 billion market you should be part of! Your ability to use video to market to foreign buyers more effectively can be a big selling point in your next listing presentation – particularly if your…
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Leading Dutch property portal uses big data to design houses that buyers want
Funda, Netherlands largest property website with over one million visits a day has started using big data to develop homes that buyers want. The portal which attracts more than 4.3 million unique visitors a month says the Dutch dreamed of living in castles, and many wished they could afford a detached house, but end up settling for a terrace homes…
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REIV chief says new long-term lease provisions need more thought
The Victorian state government changes on long-term lease provisions, including a new continual standard tenancy agreement for rentals of more than five years, have received a mixed reaction from the Real Estate Institute of Victoria (REIV). While the body supports the new provisions for long-term leases, REIV chief Gil King said these changes come in the midst of a major…
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Maitland real estate agency joins Starr Partners
Maitland’s Tony Cant Real Estate will join one of Australia’s most innovative real estate groups, Starr Partners, and rebrand as Starr Partners Maitland from March 1. Having established itself in the Maitland area over the past 40 years, director Andrew Cant said the change will take Tony Cant Real Estate’s already thriving business to the next level, and clients and…
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REINSW calls on NSW to follow Victoria’s lead on stamp duty
A decision by the Victorian Government to abolish stamp duty for first homebuyers for purchases below $600,000 should propel the New South Government to also meaningfully tackle housing affordability. REINSW President John Cunningham said premier Gladys Berejiklian must put meaning behind her assertion that housing affordability is the number one priority for her government. “Victoria has acted,” Mr Cunningham said.…
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