INDUSTRY NEWS
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CoreLogic: Capital city dwelling values experience highest growth rate in seven years
Highlights over the three months to December 2016 Best performing capital city: Darwin +5.9 percent Weakest performing capital city: Adelaide -1.6 percent Highest rental yields: Hobart houses with gross rental yield of 5.1 percent and Hobart Units at 5.7 percent Lowest rental yields: Melbourne houses with gross rental yield of 2.7 percent and Darwin units at 3.6 percent Most expensive…
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Perth’s median house price increases again in December: REIWA
Perth’s median house price increased by nearly two per cent in the three months to December 2016. REIWA President Hayden Groves said reiwa.com data showed the median house price had lifted 1.9 per cent to $535,000 over the three month period. “This is the second month in a row that we’ve seen an increase in the median house price, which…
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Supercharge your results this year with Tom Panos and John McGrath as your mentors for 2017
Two of Australia’s most respected real estate coaches are teaming up to deliver a specially designed ‘boot camp’ that is committed to helping real-estate agents achieve exponential results by giving them proven formulas that work. Tom Panos, who is arguably Australia’s most popular real estate coach and trainer will be teaming up with property legend John McGrath of McGrath Estate…
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Receptionist turned property agency owner gets into AFR’s “Fast 100” companies list
Sunshine Coast realtor Amber Werchon Property (AWP) has made it into the Australian Financial Review’s (AFR) 2016’s “Fast 100” companies list for the first time. From humble beginnings as a receptionist to now an agency owner, Werchon started her business right after leaving a national real-estate franchise in 2008 and has not looked back since. To be qualified for the…
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NSW Federation Council moves in to save iconic Castle home from being demolished
The iconic home that was used in the filming of Australia’s cult film the Castle which was in danger of being demolished will instead be placed at new a location with plans of turning it into a tourism attraction by year-end. New South Wales Federation Council administrator Mike Eden told Elite Agent that the iconic home would be moved from…
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Crown Group’s Skye rooftop pool akin to world’s top five-star hotel swimming pools
Residents living at Crown Group’s latest development Skye are in for a treat this summer as access to the $200 million tower’s rooftop pool has been opened to its occupants since last week. Inspired by several prestigious five-star hotel swimming pools including Singapore’s Marina Bay Sands, Skye’s infinity pool which are 20 stories above street level comes equipped with stunning…
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REIQ urges Queensland’s state treasurer to expand first-home grants to include established homes
The Real Estate Institute of Queensland (REIQ) is lobbying hard to have the state’s first home owners’ grant extended to include built homes in regional areas where growth has been slow since the mining downturn. REIQ chief executive Antonia Mercorella in a strongly worded letter to Queensland State Treasurer Chris Pitt believes that the expansion of the grant to include…
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realestate.com.au welcomes EnergyAustralia to Connection Services
Connection Services by realestate.com.au, an online solution helping movers to easily connect with utilities and telecommunications providers, has now welcomed EnergyAustralia to its list of energy providers. EnergyAustralia joins AGL and Origin as utilities providers on Connection Services, giving Australian movers more choice than ever before. Movers that select EnergyAustralia for Electricity or Gas will have their services supplied under…
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Seller Hub by realestate.com.au opens for inspection
Seller Hub, a new dedicated space on realestate.com.au, aims to give consumers access to the best information and insights before their property goes under the hammer. The new Seller Hub is designed to help make the selling process easier for consumers, by arming them with relevant tools to help with a successful sale. In Australia alone there are 1.2 million…
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Perth real estate starting to bounce back: Raine & Horne
After a sequence of flat years due to the resource sector downturn, there are early signs Perth’s property market is turning a corner, according to leading real estate group, Raine & Horne. “Economic reports in January and February will set the tone for a 2017 rebound,” said Craig Abbott, General Manager WA, Raine & Horne. “The key factors we’ll be…
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realestate.com.au moves into the mortgage space
realestate.com.au and National Australia Bank (NAB) have today announced a five-year strategic partnership that will transform the property buying experience for Australians. As part of the experience, consumers will be able to access a suite of NAB home loans, a realestate.com.au branded white label product, as well as a panel of other lenders. “We know that Australians are property obsessed,…
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Changes to Rental Bonds Online (RBO) from 30th January
From 30 January 2017, changes to the Residential Tenancies Act 2010 (the Act) make it mandatory for landlords and real estate agents to invite tenants to lodge their rental bonds using Rental Bonds Online (RBO). The amendment does not change any other provisions in the Act, including those relating to the lodgement and claims for bonds. Landlords and Real Estate…
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REA Statistics show Australia is obsessed with property
Australia’s obsession with property has continued this year with realestate.com.au revealing their statistics for the year. A single realestate.com.au user viewed more than 17,000 unique property listings this year, almost 50 per day[1]. 6.5 million visits to property listings on realestate.com.au on average every day[2]. 110 million hours spent looking at property and news on realestate.com.au so far in 2016[3].…
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Kick off the year with Growing Stronger Together
Growing Stronger Together, an intensive one-day property management event series, kicks off in February 2017. Brought to you by the Real Estate Training Group (RETG), the event explores strategic team collaboration and accelerated rent roll growth in a series of sessions led by some of the industry’s most successful thoughtleaders. The core program will focus on strategically unpacking the topics…
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It’s not just the Titling system SA is first at…
The Real Estate Institute of South Australia (REISA) embarked on an aggressive adoption of electronic documentation many years ago which is paying off in dividends now. Three years ago the REISA stopped printing or selling its documentation in hard copy and is now leading the way with its adoption of the REI Forms Live platform’s Docusign process. REI Forms Live platform – that…
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Domain named as one of the Best Apps for 2016 on Google Play Store
Domain has been named one of the best apps for 2016 by the Google Play store. The list, curated by the Google Play team, features the most innovative, share-worthy, downloaded and useful apps of the year. Domain was included in the ‘Best Local’ apps category which also included UberEATS, Citymapper, Carsales and Weatherzone. The app has earned a customer rating…
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Increasing professional standards a priority: REINSW
Increasing professional standards in the real estate industry has been recognised by agents and industry leaders who attended the Real Estate Institute of New South Wales’ fourth annual Industry Summit last month, as a priority. REINSW President John Cunningham said over 100 delegates gathered at the Sydney Opera House on 24 November 2016 to discuss and debate ‘The Path to…
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Property prices reflecting state economies: REIA
REIA has released the REIA Real Estate Market Facts for the September quarter 2016 which shows that the weighted average capital city median price increased by 1.4% for houses and 1.6% for other dwellings. “The weighted average median house price for the eight capital cities is now $712,776. Reflecting the differing fortunes of state economies, over the quarter, the median…
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Stamp duty a significant cost barrier for Sydney and Melbourne markets: CoreLogic
Higher priced properties in Sydney and Melbourne is not the only obstacle stopping people from entering these markets. Varying from state to state, another factor contributing to the high entry cost to housing is Stamp Duty, particularly in Australia’s largest two capital cities. CoreLogic Head of Research Tim Lawless said, “Calculating how much stamp duty is applicable on a property…
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NSW, you can’t dine out on stamp duty forever: Leanne Pilkington
Laing + Simmons Managing Director and incoming REINSW President, Leanne Pilkington has penned a cautionary memo to the NSW Government telling them, they cannnot continue to dine out on NSW stamp duty revenues – highlighting the issue of housing affordability in the state, particularly in Sydney. Here is the full release: MEMO TO NSW GOVT: YOU CAN’T DINE OUT ON STAMP…
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CoreLogic December 2016 Property Outlook: Tim Lawless
CoreLogic have released their property market outlook for December 2016 which includes valuable market insights from Head of Research Asia Pacific, Tim Lawless on the current trend of investment activity, growth values, affordability and interest rates heading into 2017. CAPITAL CITY PROPERTY VALUES UP BUT SLOWING Capital city property values increased by 0.2 per cent in November, according to the…
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Australian Community Newspaper Readership 2016: Roy Morgan
Readership of community newspapers in all mainland capital cities has declined, but many titles are bucking the trend and finding new local readers, the latest Roy Morgan Community Newspaper Readership results for the 24 months to September 2016 show. In Sydney, the St George & Sutherland Shire Leader extended its lead as the most-read community paper, with 220,000 readers per average issue (up…
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WA housing affordability shows notable improvement over the year
Housing affordability in Western Australia experienced a minor decline in the September quarter, but has improved over the year, according to the latest Housing Affordability Report by the Adelaide Bank and Real Estate Institute of Australia. REIWA President Hayden Groves said the report showed that while the proportion of income required to meet loan repayments in WA had increased by…
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REIA welcomes new President
The Real Estate Institute of Australia (REIA) has welcomed the election of the new President, Malcolm Gunning. Mr Gunning was elected to the Presidency at the Annual General Meeting held in Canberra on Thursday 8th December 2016. He has over 40 years of experience in all facets of real estate agency practice, property development and property valuation. Mr Gunning is…
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Purplebricks makes first ever UK profit
Purplebricks Group plc Interim results for the six months ended 31 October 2016 UK division achieves maiden EBITDA profit with plans to accelerate market share growth Purplebricks Group plc (AIM: PURP) (“Purplebricks”), announces its interim results for the six months ended 31 October 2016. Financial highlights H1 2017 H1 2016 UK Aus Total UK Aus Total £m £m…
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RateMyAgent Agent of the Year Awards 2017
RateMyAgent review and ratings site have announced the criteria for their national, state and suburb awards for 2017 and are calling for agents and agencies who have claimed their profile to seek more customer reviews to be in the running. National and state-based awards will be presented at the RateMyAgent Awards Night, held in Melbourne on 9 March, 2017 with…
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Historically low rates unable to offset increasing mortgages: REIA
The Real Estate Institute of Australia (REIA) says that in the September quarter of 2016, housing affordability in Australia declined marginally with the proportion of the median family income required to meet average monthly loan repayments increasing to 29.5% from 29.4% in the previous quarter. REIA President Neville Sanders says, “The latest Adelaide Bank/REIA Housing Affordability Report shows that whilst…
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December 2016 RBA decision: Tim Lawless, Core Logic
In response to the RBA’s decision to keep interest rates on hold, Tim Lawless, CoreLogic’s Head of Research, provides his expert commentary on the decision and what may lay ahead when they meet in February. Despite inflation tracking well below the target range of 2-3%, the RBA decided to keep the cash rate on hold at 1.5% today. “On one…
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REA Group Property Demand Index – November 2016
REA Group has released their Property Demand Index for November 2016 showing variable results across capital cities with weakening demand in some locations and a stabilisation in demand. “Perhaps there is a sense of nervousness among Australians following the recent US election, because demand levels stabilised in November, increasing by just 0.1% during the month,” commented REA Group Chief Economist,…
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Tax reform on the agenda for REIWA’s State Election campaign
In the lead up to the 2017 State Election, REIWA will be campaigning for the reform of property taxes to help make home ownership a reality for more West Australians. REIWA President Hayden Groves said the Institute would be engaging with the WA community via surveys and polls throughout the campaign period. “It’s incredibly important that the local community have…
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Real Estate Group Almost Doubles the Number of Members in 12 Months
@realty are a brand on the move, with an interesting and different business model that enables agents to operate autonomously under the @realty brand. Providing enhanced marketing services for agents wishing to have their own business, the brand has grown from 180 agents at the beginning of 2016 to 335 agents at the end of November. The Group started on…
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Rates to hold in December, before rising in 2017: RateCity
Official interest rates are poised to hold at the historic low of 1.50 per cent when the Reserve Bank Board meets this Tuesday, according to analysis by RateCity.com.au However, their study of over 30 key economic indicators suggests the easing cycle has ended with Peter Arnold, data insights director at RateCity.com.au suggesting the chances of a rate hike in 2017…
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Capital city values rise as cycle clicks over 4.5 years of growth, CoreLogic November Index
The CoreLogic November Home Value Index results released last week released showed a rise in dwelling values across most capital cities, however, CoreLogic Head of Research Tim Lawless has noted that it is the ‘softest capital city result since December 2015’. Throughout November, capital city dwelling values rose by 0.2%. While the headline results remained in positive growth territory, the…
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iBuyNew Rated Among Fastest Growing Asia Pacific Tech Companies
National online property marketplace iBuyNew Group Limited (ASX-IBN) has been named among the fastest growing technology companies in the Asia Pacific region. IBN ranked 67th on the Deloitte Technology Fast 500 Asia Pacific 2016, a ranking of the 500 fastest growing technology companies in the region. Rankings are based on percentage revenue growth over three years. The recognition from Deloitte…
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NSW strata law reforms come into effect: REINSW
Years of consultation and review have resulted with significant reforms to NSW strata laws commencing on 30 November 2016. REINSW President John Cunningham said over 90 new strata laws will make a difference to the lives of those living in New South Wales. “These reforms will benefit owners, tenants and property managers and bring the laws in line with current thinking,”…
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