INDUSTRY NEWS
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Perth, a haven for smart investors, so buy up says Momentum Wealth
Several recently released statistics are beginning to show that the Western’ Australia’s capital city Perth is fast becoming a hotspot for investors keen on parking their money in residential properties. The is because Perth is moving through the bottom of its current residential property cycle, providing opportunities to investors who may want to capture the full benefits of the next…
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Residential builders off to a strong start, says Masters Builders Australia
Building activity for the year particularly for home building businesses is set for a strong start, says the latest survey commissioned by Masters Builders of Australia. The Master Builders National Survey of Building and Construction said the survey findings painted a positive outlook at the national level reflecting the record building approvals and housing loans approved in 2016 with over…
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New home sales bounces back: HIA
New home sales have bounced back particularly at the tail end of last year, as the latest survey commissioned by the Housing Industry Association (HIA) has revealed. “New home sales hit a two-year low in October last year, but recovered well in November and December,” HIA chief economist Dr Harley Dale said. “The late 2016 results were strong for the…
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Where do properties sell fastest in Australia, CoreLogic Property Pulse
Melbourne properties sell the fastest of any capital city according to CoreLogic’s latest Property Pulse Market Update report. Melbourne dwellings took an average of 35 days to sell in December 2015 with the figure falling to an historic low of 29 days at the end of 2016 while the typical Sydney dwelling sold after an average of 33 days in…
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Positive median house price growth in regional WA in December quarter
Six out of the 12 centres across regional Western Australia has experienced a positive median house price growth in the December quarter 2016 according to the latest study commissioned by Real Estate Institute of Western Australia (REIWA). REIWA president Hayden Groves said the strong showing was an optimistic sign for the regions as it had a positive effect on regional…
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LJ Hooker encourages lifelong training for its real estate agents via new software
LJ Hooker will invest $100 million in the next three years to accelerate the real-estate industry’s digital transformation with a mission to turn Australia into the world’s most advanced and well-served property market. The initiative will kick start with the unveiling of LJX-Lab, a digital research and development vehicle which they say will foster innovation through identifying, incubating and commercialising…
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Jason Andrew joins Ray White as its new CEO-Sydney
Ray White NSW has announced Queensland auctioneer Jason Andrew as assuming the position of CEO – Sydney. Under Andrew’s leadership, Ray White’s brand presence in Sydney’s most prestigious suburbs is set to strengthen even further through him bringing his real estate business knowledge to the fore. In this newly created role, Andrew has been tasked with increasing Ray White’s stronghold in the…
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RBA keeps cash rate fixed at 1.5 percent, industry reacts
The Reserve Bank of Australia (RBA) decision to keep interest rates on hold at the record low of 1.50 per cent at its first meeting of the year has come to no surprise to many pundits in the real estate industry. Real Estate Institute of New South Wales (REINSW) president John Cunningham was unfazed. “Housing affordability will be hotly debated…
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Finalists announced for this year’s Property Council Innovation and Excellence Awards
Some of the best buildings and brightest talents in Australia’s property industry will be honoured at the 35th Property Council of Australia/Rider Levett Bucknall (RBL) Innovation and Excellence Awards. 141 finalists were named ahead of the awards ceremony to held on May 5 at the International Convention Centre Sydney. Property Council’s Chief Executive, Ken Morrison said the awards, which is…
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REIWA kicks off state election campaign focusing on four policy reforms
Real Estate Institute of Western Australia (REIWA) launched its 2017 State Election campaign, which will roll out four key policy changes over the next three weeks to help put property issues on the agenda and stimulate activity in the market to help drive growth. REIWA president Hayden Groves said the institute had consulted with its members and identified four key…
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South Australia’s housing market records healthy increase in sales
South Australia’s housing market has recorded a healthy increase in the volume of sales for the last quarter of 2016 which offers a dose of optimism for the market in the coming months. Real Estate Institute of South Australia (REISA) president, Alex Ouwens, said that the latest figures showed a stable median price of $440,000 – the same result as…
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Melbourne-based agent applies to Guinness World of Record to be world’s first fastest selling agent
A Melbourne-based real estate agent has just applied to be recognised as the fastest selling realtor in the world by the Guinness World of Records. Zed Nasheet of LJ Hooker Hampton Park told Elite Agent that he had put in an application for the World Records’ feat two weeks ago after selling a three bedroom, one bathroom house in Victoria…
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RealSatisfied and reiwa.com AgentFinder partner to help set higher standards in WA
RealSatisfied and reiwa.com AgentFinder have partnered to create an effortless way for West Australians to find trusted, credible and reliable real estate professionals online. RealSatisfied is a customer satisfaction platform which collects customer feedback at the close of a real estate transaction, founded in Australia and now a leading platform in the United States real estate industry. From February 2017,…
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December building approvals fall: ABS
The latest building approvals data, released by the Australian Bureau of Statistics on Thursday, confirms that the housing market is very much a Sydney and Melbourne story. “Building approvals fell by 6.3 per cent in NSW, underwriting a fall in total dwelling units approved of 1.2 per cent over December 2016. Meanwhile, Victoria has sustained a small rebound in total…
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More dwellings key in tackling housing unaffordability
REA Group Property Demand Index for January, Key Points Sydney is on the road to a housing affordability crisis Tasmanian housing demand remains high resulting in strong price growth Demand levels on realestate.com.au are surging Challenging conditions remain in Western Australian and Northern Territory Housing unaffordability can be solved only if there are more dwellings available for people to chose…
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Perth property market rises in December quarter
Perth’s median house price showed signs of strength in the December quarter, with the preliminary median for the three months to December 2016 holding firm at $520,000. Real Estate Institute of Western Australia (REIWA) President Hayden Groves said this preliminary figure was the same as the revised September quarter 2016 median house price. “It’s a very good sign for the…
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Veteran developer Harry Triguboff believes apartment prices may rise this year
The increase in house values in Sydney will only produce a flow-on effect on for apartment prices for the year said veteran developer and Meriton group founder Harry Triguboff. Triguboff who has built more than 70,000 apartments to date said that high house prices were driving demand for apartments from owner-occupiers and tenants, resulting in stronger than expected gains already…
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Rent.com.au’s new service Renter Resume a big hit among users
Since its launch 100 days ago, Rent.com.au Renter Resume has had more than 50,000 Australians signing up to use its service. Launched last October, the service allows users to create a rental profile, which then allows for the automatic generation of property enquiries and applications. Prospective renters can apply for a property while they are inspecting it with the click…
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QLD Treasurer Rejects REIQ Proposal to Broaden the First Home Buyer Scheme
The Real Estate Institute of Queensland (REIQ) has publicly recorded its disappointment in the State Government that they would not be broadening their first buyer home grant to established homes. REIQ chief Antonia Mercorella said this was evidence that the State Government was not listening to the needs of regional Queenslanders. “However, our concern is for the long-term impact and…
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New Property Agents and Land Transactions Bill banks on industry’s insights
More than 450 real estate agents, property consultants, assistant property managers, conveyancers and lawyers met earlier this week to discuss the sweeping changes brought on by a revised bill replacing the current Property Agents and Land Transactions (2005) Act, enforced in April. Real Estate Institute of Tasmania (REIT) chief executive Mark Berry said the new bill passed on Nov 17…
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Real Estate Agencies no longer in Fair Trading’s bad books
The New South Wales Fair Trading recently released its December 2016 Complaints Register, noting that for the first time in the register’s history there are no real-estate agencies on the list. Fair Trading publishes its Complaints Register monthly, listing businesses that are the subject of 10 or more complaints to the agency in the previous calendar month. Since the launch…
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ASX-listed buyMyplace wants to hire 100 real estate agents by year end
ASX-listed buyMyplace.com.au is on the lookout for 100 experienced real estate agents nationwide for a new section of its business which is similar to UK’s Purplebricks. The Melbourne-based company said the new hires would be used to sell properties listed on the website by vendors through a flat fee commission-based system. Melbourne-based buyMyplace executive director Cameron Fisher who will assume…
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The Agency Expansion Plans: Word of Mouth, Experienced Agents Only
Word of mouth. That is how “The Agency” say they are getting top agents in the Sydney real estate industry to join in their 18-month-old setup. Despite being fairly new on the eastern seaboard, many high profile agents in the business have been recruited by the Perth-based and ASX-listed Ausnet Financial Services for its new Sydney office, located at the…
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NZ Based Leaders Real Estate Group Rebrands To Ray White
In what is considered to be one of the major changes in the real estate industry across New Zealand, renowned agency local company in the local north island Leaders Real Estate Group is currently undergoing a rebranding to Ray White. The Leaders Group 15 offices placed across Wellington, Kapiti Mana, Horowhenua, Hutt Valley, Wairarapa, and the Hawkes Bay. The group…
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Core Logic: Strong Start To The Year As Dwellings Value Rise In Most Aussie states
The latest CoreLogic January index results have confirmed that all capital cities recorded a rise in home values, with Hobart in the lead, recording a 5.8 percent rise in dwelling values over the three months to the end of January – with Sydney and Melbourne also posting strong increases over the rolling quarter. Highlights over the three months to January…
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REIA calls for action on affordable housing and property taxation
REIA’s Pre Budget Submission to Government focuses on taxation as it relates to property and the need for a holistic approach and housing affordability including the need to address the rapid decline in the number of first home buyers. The Submission notes that dwelling investment supported by historically low interest rates has been a significant contributor to growth in the…
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New NSW Cabinet line-up welcomed by Green Building Council of Australia
The Green Building Council of Australia (GBCA) has welcomed the New South Wales cabinet and is looking forward to work with Premier Gladys Berejiklian and her team to build a healthy, livable, sustainable future. Anthony Roberts, who has previously held the position of Energy Minister, takes on the role of Minister for Planning and Minister for Housing, while former Attorney-General…
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Perth company to charge a set fee of $355 a month for high-end rental properties
A newly formed property management company based in Perth has established a flat rate model, charging its clients a set fee of $355 a month including GST to manage their properties. C-Vue Property Managers managing director Honor Borg told Elite Agent her company would be focusing on properties that were let out for $500 or more per week to help…
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Window closing for buyers as Darwin’s real estate market rebounds: Raine & Horne
After two challenging years for the real estate market in Darwin, the number of buyers has increased threefold in the first month of 2017, according to Raine & Horne Darwin. “We hosted an average of 4.5 groups at every open home in January. We were lucky to attract an average of 1.5 groups over the last two years,” said Glenn…
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Queensland rental markets tighten in December 2016 quarter: REIQ
Queensland’s rental market improved over the December quarter with many markets behaving as forecast, returning to more traditional vacancy rates after an unusual September quarter result. REIQ CEO Antonia Mercorella said, generally speaking, the year ended on a steady note. “The data has shown that supply and demand in the rental market is fairly evenly matched in the southeast corner.…
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CoreLogic Pain & Gain Report: September 2016 Quarter
The average profit on resale increases to $262,672 while average loss was $71,529 over the September 2016 Quarter, according to the latest CoreLogic Pain & Gain Report. The latest September 2016 quarter Pain & Gain Report produced by CoreLogic delivers a timely market analysis for residential property resales over the quarter by comparing the most recent sale price to its…
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Mobile messaging apps, the new frontier in real estate selling
More real-estate agents are starting to rely on social media apps as a way to help buyers who cannot take time off and be present in purchasing properties the traditional way. Owing to work commitments and other unforeseen circumstances, a small number of agents have found success in selling properties purely by using social media apps such as Facetime, WhatsApp…
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Raine & Horne expands to Sydney’s Turramurra with new office
In a bid to capitalise on the strong Sydney’s north shore real estate market, leading agency, Raine & Horne will open a new office at Turramurra, situated at the corner of Pacific Highway and Kissing Point Road, on February 1. The new set-up comes after the franchise had launched offices in nearby suburbs such as Hornsby, Lindfield, North Sydney, Crows…
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Home formerly owned by late Aussie businessman Rene Rivkin up for sale
A Hawkesbury River-fronted property built by the late Australian entrepreneur Rene Rivkin 20 years ago, and extensively renovated by the current owner, will go to auction with price expectations above $5 million. Built with whole Australian Cypress logs grown in NSW, the property sits on 10 acres which it shares with Sentry Rock, the landmark believed to be used by…
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Australia’s ideal home, consumers compromising location for land size: realestate.com.au
realestate.com.au revealed on the weekend what Australia’s ideal home looks like based on new consumer behaviour research. The great Australian dream of owning a quarter acre block is still aspirational for many Australians, despite rising house prices. The national average wishlist includes 4 beds, 2 baths, and 2 car spaces, on a 708 sqm block and is priced at around $520,000. “What this…
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