INDUSTRY NEWS
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LJ Hooker overhauls its digital presence
LJ Hooker has unveiled its reinvigorated online centrepiece (ljhooker.com.au) and franchise network office websites with a view to enhancing interaction between its sales agents, property managers and customers. With the objective of creating a future-focused customer experience across its Australian residential, commercial, rural, land and home loans businesses the sites incorporate greater mobile responsiveness for customers and staff, cutting-edge agent…
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REIA welcomes Government decision on change to FIRB rules
Following industry representation the Government has announced changes under the foreign investment framework to allow foreign buyers to purchase an off-the-plan dwelling when another foreign buyer has failed to reach settlement on it. Previously, the on-sale of an off-the-plan apartment was regarded as a second-hand sale, which was not open to foreign buyers who are only able to buy new…
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New Australian development site portal delivers results for real estate agents, developers & investors
A new site, PermitReady.com.au has been launched, dedicated to selling and searching for development sites. The site already features more than 1000 permit-approved and permit potential sites across Australia. Less than two years old, the business launched in March 2015 with the goal to connect property developers and investors to development sites across Australia. In the nine months from January to September…
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Property Pulse – Market Update, CoreLogic week ended 24 November 2016
CoreLogic released its weekly property pulse, this week including some interesting insights on ABS data released last week relating to employment, household incomes and construction. Employment Late last week the Australian Bureau of Statistics (ABS) released labour force data for October 2016. While the headline unemployment rate of 5.6% was steady over the month at its lowest level since February…
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Super Lots Delivering Super Returns: LJ Hooker Research White Paper
It’s a phenomenon that always makes headlines, neighbours coming together to sell their properties, as a “super lot”, for double, triple or even quadruple the price of others in the street. A LJ Hooker Research Consumer White Paper on the growth of amalgamated selling delivers insight into this trend. Chief amongst the reasons cited for ‘super lots’ is the rezoning…
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Stamp duty hampers property transactions: REINSW
Homeowners are electing to undertake renovations rather than sell their properties in an attempt to avoid stamp duty, according to the Real Estate Institute of New South Wales. REINSW President John Cunningham said the number of property transactions had hit a four-year low for the month of October 2016 according to data from the NSW Office of State Revenue. “The…
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REIQ Announces Nominees for 2017 Excellence Awards
The Real Estate Institute of Queensland has announced its 2017 Awards for Excellence finalists, representing the best in the Queensland real estate profession for the year. This year’s Awards attracted a record number of entrants, reflecting the growing strength in the market. Winners will be announced at the gala Awards dinner at Brisbane City Hall on 4 February 2017. REIQ…
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Proposed changes passed to cut costs for WA real estate, says REIWA
On 16 November 2016 the Parliament of Western Australia passed the Residential Tenancies Amendment Bill 2015 and the Licensing Provisions Bill 2015, with amendments being made to the Residential Tenancies Act, the Real Estate and Business Agents Act, and the Auction Sales Act. These amendments are a result of initiatives put forward by the Real Estate Institute of Western Australia…
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Sydney vacancy rates tighten: REINSW
Residential vacancy rates have tightened across the Sydney market as new accommodation is snapped up across the city, according to data released by the Real Estate Institute of New South Wales. REINSW President John Cunningham said the October 2016 REINSW Vacancy Rate Survey was at 1.7 per cent, down 0.2 per cent for Sydney. “We have seen an increase in…
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Defence Housing Australia Appoints New MD
Jan Mason has been confirmed as Managing Director of award-winning Government Business Enterprise Defence Housing Australia (DHA). Ms Mason, who acted in the role for the previous year, has been appointed for a further five years, DHA Chairman, the Hon J.A.L. (Sandy) Macdonald, said today. Mr Macdonald said Ms Mason had already accomplished a great deal and would continue to…
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realestate.com.au launches Australia’s first VR property app on Google’s Daydream platform
Australians can now more readily explore and view properties in virtual reality, via the realestate VR app launched by realestate.com.au, on Daydream, Google’s high quality, mobile virtual reality platform. Australia’s first dedicated virtual reality property app on Daydream features a range of active realestate.com.au listings, allowing consumers to walk through their potential next home, in their own time. The number of properties available…
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Retail lease reforms support SMEs: REINSW
The retail leasing industry and small businesses throughout NSW will benefit from retail lease reforms introduced into State Parliament, according to the Real Estate Institute of New South Wales. REINSW CEO Tim McKibbin said amendments to the Retail Leases Act 1994 (NSW) will make doing business easier for tenants, agents and landlords on the retail strip. “Some 44,500 retail businesses…
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How the US election will affect the property market: LJ Hooker
Today, as the world watched the US election unfold, LJ Hooker Head of Research, Mathew Tiller gave us some preliminary thoughts on the impact of a Trump win on the Australian commercial and residential property market. Says Tilley, “Nearly all parts of the Australian economy are intrinsically linked to the performance of the US; our equity markets take their direction from…
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Real Estate and Property Industry Reforms Paper Released
The NSW Government has today released a Real Estate and Property Services Industry Reform Paper, outlining the Government’s vision for the state’s $15 billion real estate and property sector. The paper contains a strong focus on raising training standards, increasing transparency and accountability and strengthening trust account processes. It is currently anticipated that the new laws will be in place in…
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Whose Depreciation Claim Is Top Of The Block?
Which apartment on Channel 9’s 2016 season of The Block is going to be the most appealing to potential investors? EPM regular, Bradley Beer from BMT Tax Depreciation and his team have run the numbers and share their analysis. Here are the key points: It looks like investors could claim an average of over $2.2 million in depreciation deductions for…
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REIV Awards recognise its best performers
The Real Estate Institute of Victoria has awarded the industry’s top performers for 2016, recognising agencies and professionals who are setting new best practice standards. The REIV’s annual Awards for Excellence are a highlight on the REIV’s event calendar, attended by more than 1,000 real estate agents from across Victoria. At a gala function last night at Crown Palladium in…
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It’s a two speed property market: Domain
Australia has a two speed property market, with some capitals hitting record high prices while other markets weaken, according to the September quarter Domain House Price Report. Nationally the median house price increased by 1.7 per cent over the quarter, but varying levels of local supply and demand are delivering mixed results for individual capitals. Melbourne and Sydney prices have…
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1ST City Group Expands Platforms Into Finance
1ST CITY GROUP are proud to be expanding platforms in the launch of a Finance and Insurance division under its prestigious 1ST CITY brand. The addition of 1ST CITY ‘Fund+Protect’ heralds the beginning of a new era to the multi-award winning Real Estate Agency which was established in 1998 and has grown to have three offices in the Eastern Suburbs…
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NSW land, property transactions fall; REINSW calls for action
The NSW government is facing a budget shortfall with land related transactions and total stamp duty collected below current budget forecasts for the first three months of the 2016-2017 financial year, according to the Real Estate Institute of New South Wales. REINSW President John Cunningham said data from the NSW Office State Review shows that for July, August and September…
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realestate.com.au launches new content campaign with MasterChef’s Gary Mehigan
realestate.com.au continues to invest in digital entertainment, with today’s release of ‘Sale Scents’ starring popular celebrity MasterChef Gary Mehigan. Inspired by existing research that says using aromatic citrus scents could help your house sell for more, realestate.com.au teamed up with Mehigan and aroma specialist Dr Megan Thornton to put it to the test in a fun two-minute film. In the…
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REALABS: The Future of Property Technology
REA Group today announced REALABS, a purpose-built invention space in the heart of Australia’s tech hub, Richmond, designed to create, trial and bring to life the newest technologies for consumers to experience property. The new space will be dedicated to invention and innovation, housing a range of new technologies, including virtual reality, augmented reality, drones and robotics. REALABS will be…
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Joseph Walton elected REIV President for 2016-17
The Real Estate Institute of Victoria has announced that Joseph Walton has been elected President for 2016-17. Mr Walton has a long history of involvement with the REIV, having served on a number of committees and as REIV President over the past six months. Joseph has had an extensive involvement with the REIV Commercial and Industrial committee – serving as…
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Investor housing demand rises as owner occupier fades, CoreLogic Research
Housing finance data for August 2016 was recently released by the Australian Bureau of Statistics (ABS). Over the month there was $31.4 billion worth of housing finance commitments which was -1.0% lower over the month and -5.1% lower than it was at its peak in April 2015. The $31.4 billion worth of commitments in August was split between $19.5 billion…
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Infrastructure Partnerships Australia discussion paper
The Property Council of Australia has welcomed the release of Infrastructure Partnerships Australia’s report “From Housing Assets to Housing People”. “The Property Council does not normally comment on public housing as our focus is on the broader issue of housing affordability and the operation of the housing market. However, it is clear that the funding of public housing is in…
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Sydney should look to Melbourne for housing solutions: REINSW
Sydney needs a better balance of new apartments, single dwelling homes and medium density developments, much like Melbourne has, according to the Real Estate Institute of New South Wales. REINSW President John Cunningham said the NSW Government is currently reviewing its planning policies which he described as too convoluted. “Everyone has an opinion on Sydney’s property problems, but there is…
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A List Winners Revealed
Queensland’s coveted ‘A List’, which highlights the top one percent of sales performers in the state, has been unveiled for the fourth year running. Mercedes-Benz Brisbane is the inaugural and major sponsor of the event. Emily Kindred from the A List said their support makes the event possible. “Without the support of our sponsors, Mercedes-Benz Brisbane and PriceFinder, we wouldn’t…
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Commercial agents recognised at REINSW Awards for Excellence
The best Commercial Real Estate professionals in the business have been recognised at the 2016 Real Estate Institute of New South Wales Awards for Excellence Gala Dinner last Thursday evening. commercialVIEW.com.au was proud to sponsor the commercial property awards on the night. CEO of commercialVIEW.com.au Daniel Bignold said the awards highlighted the most outstanding performers across Large and Small Commercial…
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Rental accommodation in Middle Sydney increases, REINSW
Residential vacancy rates jumped in Middle Sydney as more stock comes onto the market, according to data released by the Real Estate Institute of New South Wales. REINSW President John Cunningham said the September 2016 REINSW Vacancy Rate Survey Middle Sydney rise 0.5 per cent to 2.1 per cent, leading a 0.1 per cent increase in the overall Sydney vacancy…
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Chinese Buyers Increase Their Share of Australian Hotel Transactions, CBRE
Chinese investors have upped the ante in the Australian hotel sector, accounting for 42% of the $1.7 billion in hotel sales year-to-date according to new research from CBRE. CBRE Hotels Executive Director Robert McIntosh said the Australian hotel market was being increasingly targeted by Asian capital – with Chinese investors leading the charge. “Recent volatility in global equity markets, particularly…
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First Home Owner’s Grant fails to help regional QLD, says REIQ
The Queensland Government’s First Home Owner grant, which was recently boosted from $15,000 to $20,000, has provided limited support where it is needed most – regional Queensland’s established housing market. REIQ CEO Antonia Mercorella said while the grant was welcome as a tool to help first-home buyers get into the market, it did not deliver help where it was needed…
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CoreLogic: Housing Market Update, October 2016
Watch CoreLogic’s Housing Market Update for October. The housing and economic data is derived from the CoreLogic Hedonic Home Value Index for the month of September, released October 2016. Presented by Tim Lawless, Research Director at CoreLogic. Here are some of the September Highlights, plus the October Outlook, according to Tim Lawless, Head Researcher Values in September – the headlines…
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Home in NZ to go under the Hammer for $1 in online auction
A four-bedroom home in Bethlehem, Tauranga NZ, is about to go to online auction with a reserve of $1. The property’s agent, Rodney Fong, explained that the rock-bottom reserve price was intended to increase exposure for the property. The strategy has worked so far, with coverage of the sale in the NZ Herald and Stuff.co.nz. And, everything else going to…
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2016 REINSW Awards for Excellence winners celebrated
Real estate’s top performers have been celebrated at the 2016 Real Estate Institute of New South Wales Awards for Excellence Gala Dinner. REINSW President John Cunningham said 21 awards were presented across all facets of the industry including innovation, community service, residential and commercial professionals, as well as rising stars and auctioneers. “Our prestigious awards have been taken out by…
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Greg Dickason appointed CoreLogic’s International Chief Technology Officer
Greg Dickason has been appointed CoreLogic’s International Chief Technology Officer, reporting to the US CIO Bob Frosell. Greg has an international track record of delivering advanced technology and innovative products for the real estate sector, including the award-winning API that powers mobile apps as diverse as the Harcourts eOne App and Westpac Wonder. Greg has a passion for innovation and…
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REINSW top honour to Wayne Stewart
The prestigious Woodrow Weight Award for outstanding service to the real estate profession has been awarded to Managing Director and Office Principal of Century 21 Newcastle, Wayne Stewart. The Woodrow Weight Award is REINSW’s top Award. It is named after the legendary REINSW President, who was the first Australian ever to be elected World President of the International Real Estate…
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