INDUSTRY NEWS
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WA Government dangles $5000 carrot to fill empty homes
The Real Estate Institute of Western Australia (REIWA) has welcomed a new State Government scheme that will offer owners of empty homes $5000 if they make them available as a long-term rental.
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Interest rates on hold but future hikes not ruled out
The Reserve Bank of Australia has kept interest rates on hold at 4.35 per cent at its May meeting, but cautioned that higher than expected inflation was not expected to return to the target 2-3 per cent range until the second half of 2025.
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Slower growth ahead for Australian farmland
Australian farmland prices are set for further growth in the year ahead, but the pace is going to slow down according to a new report.
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Brisbane’s ‘jaw’ dropping shark house
A house shaped like the jaws of a shark has been making a splash with the locals in Brisbane.
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How to transform neglected clients into lifelong partners
Staying in touch with past clients well after a property has settled is one of the fundamental ways of ensuring you always have ongoing repeat and referral opportunities.
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Overseas immigration pushes rents higher in the inner city
Overseas immigration is driving up rents and the impact is being felt most of all in inner city Melbourne according to new data.
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The $6000 bus transformed into a funky weekender
An old, run-down Bedford Bus has been transformed into a funky weekender that also helped the owners earn a tidy profit.
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Why Perth’s still not an auction market
Despite Perth property prices surging at the fastest rate in the country, agents and vendors are still reluctant to sell using the auction process.
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Aussies move in with friends and family to avoid rental crunch
Over 2.5 million renters have been forced to move in with friends and family to survive the ongoing cost of living crisis according to a new survey.
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Experts confident the cash rate will remain on hold
The official cash rate is likely to remain on hold in May, and the experts now think there might not be a rate cut at all in 2024.
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Australians stash a record high $1.47 trillion in the bank
The cost of living might be rising but Australians still have a good chunk of cash stashed away for a rainy day, according to new data.
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TRG set to open another office in Hunters Hill
Gavin Rubinstein is set to shake up the Hunter’s Hill property market, with plans to open The Rubinstein Group’s (TRG) third office.
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Relief for Perth tenants as rents remain stable
In good news for Perth tenants, rents held steady in April while rental listings also started to increase.
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PEXA pursues partnership with UK lender
PEXA is progressing a strategic partnership with UK lender NatWest that will see it use PEXA's digital property exchange technology to deliver 48-hour remortgage transactions to its customers.
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Wingadal listed with price hopes of $200 million-plus
Australia's residential property price record could soon be smashed, with the striking Sydney mansion, Wingadal, hitting the market with price expectations of more than $200 million.
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Smart glasses could enhance auction transparency
Virtual reality smart glasses have the potential to bring greater transparency to the real estate industry and help auctioneers and agents improve their craft, but they won’t become widely used until they are mainstream in people’s homes.
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REIA unveils the agenda for the Centennial Congress
The Real Estate Institute of Australia (REIA) has released the final program for the historic REIA Centennial Congress which aims to examine what the future has in store for the industry.
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Only one area in QLD with a ‘healthy’ supply of rentals
The availability of rentals is at critically low levels across Queensland, with only one area in the whole state considered to have a “healthy” vacancy rate.
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Property values continue to rise amid low supply
Australian property values have continued to rise, with low supply trumping high interest rates and inflation in the price equation.
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Domain introduces Audience Boost to reach more buyers
Residential listings with Domain will reach even more buyers from July 1, with the portal’s new Audience Boost feature set to promote properties across display advertising and social media.
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Unliveable Potts Point mansion sells for $13.7 million
An unliveable mansion apartment in Potts Point has sold for $13.7 million, a stunning $3.7 million above its initial $10 million price guide.
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Perth property could rise 20 per cent this year
The Real Estate Institute of Western Australia (REIWA) predicts that Perth property prices could potentially increase 20 per cent in 2024 as population growth continues to surge.
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Luxury property markets outpace median priced homes
Luxury property has been seeing values rise sharply and new data has found that the upper end of the market has been rapidly outpacing standard homes.
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Melbourne agent conducts first Virtual Reality-enhanced property auction
A Melbourne real estate agent is believed to be the first auctioneer to sell a residential property under the hammer while wearing Virtual Reality goggles, which meant the vendors could see all the action.
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Herron Todd White: Where you can find affordable homes in Australia
Despite the cost of living rising and property prices outpacing wage growth, there are still places where homes are affordable according to the latest Herron Todd White (HTW) Month in Review.
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Affordable rentals have vanished in the past three years
The percentage of rental properties priced under $400 per week has seen a dramatic decline in the past three years, presenting significant challenges for low-income earners.
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Rent.com.au posts record quarterly revenue
Rent.com.au has recorded record group revenue of $890,000 for the March quarter of the 2024 financial year.
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Is the inflation spike just a ‘blip’ on the radar?
Inflation figures released today are likely to see interest rates remain high for longer, according to experts.
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Low-income earners can’t afford to rent
Low-income earners are doing things really tough at the moment, with a new report finding that minimum wage earners could only afford less than one per cent of rental properties.
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Crane numbers at the second-highest level on record as construction booms
The number of cranes across city skylines is now at the second-highest level on record, signalling a rebound in confidence from developers.
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RE/MAX Australia honours top agents at exclusive Crystalbrook event
RE/MAX Australia invited its highest achievers to an exclusive event recently, held at the impressive Crystalbrook Vincent, a sustainable luxury hotel carved into the soaring cliff face at Howard Smith Wharves.
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Property prices hit new record, with more to come
Property prices have hit yet another record, with the combined capital city house and unit prices rising by up to 1 per cent in the March quarter.
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SA takes the economic crown but WA is closing in
South Australia has come out on top of the economic leaderboard for a second straight year, according to a new report.
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The Block winners sell Bexley home for $805,000 profit
After winning $1.75 million on the 2023 season of The Block, Steph and Gian Ottavio have sold their Bexley home for a tidy profit.
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Australian and New Zealand’s top auctioneers set to compete at AUSTROS
Australia and New Zealand's best auctioneers have been named as the finalists for this year's Australasian Auctioneering Championship (AUSTROS) in Hobart.
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