INDUSTRY NEWS
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Australia to miss housing target by 200,000
Australia will likely fall almost 200,000 homes short of the Federal Government’s ambitious plan to build 1.2 million homes over five years, according to the latest HIA forecast.
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Regional areas outpace capital cities for growth
Despite affordability constraints and rising interest rates regional property prices have outpaced the capital cities over the past quarter.
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What the Right to Disconnect legislation means for you
Clear education and communication will be the key to the real estate industry navigating the new Right to Disconnect legislation, according to the sector’s leading workplace advisory service.
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PEXA revenue jumps 16 per cent in first half of financial year
Online conveyancer PEXA has seen its revenues jump 16 per cent over the first half of the 2024 financial year, thanks to a focus on executing its core strategy.
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RE/MAX Australia unaffected by US leadership shuffle
RE/MAX LLC President and Chief Executive Officer Nick Bailey has been replaced as head of the franchisor in the US, but the move will not impact the Australian arm of the international network.
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Luxury development skips the showroom in favour of Virtual Reality
A new Queensland development is changing the way off-the-plan properties are sold, with the sales team embracing Augmented Reality (AR) and Virtual Reality (VR) technology and doing away with the traditional showroom.
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Tasmania’s bold housing plan: pets, tax cuts, and eco upgrades promised
The Tasmanian Government has vowed to allow pets in rental properties, boost its Private Rental Incentive Scheme and abolish millions of dollars in stamp duty costs if re-elected in next month’s State Election.
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Ray White encourages their agents to ‘get uncomfortable’ to grow
Get prepared to be uncomfortable if you want to grow was the message coming out of Ray White’s 2024 Launch event this week.
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You can now rent out your pool for extra income
Pool owners are now able to make extra income by renting out their pools on the side with some people making as much as $5000 over the summer.
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Are first-time buyers really closer to home?
First-time buyers can save a 20 per cent deposit two months faster now than they could a year ago but there is a catch, according to the latest data from Domain.
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Australian property professionals drag their feet on AI
More than one-third of property professionals believe Artificial Intelligence (AI) will have a “revolutionary impact” on the sector, but few have truly started to implement it.
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Demand for share accommodation surges over summer
The housing crisis continues to force renters into share accommodation with demand for rooms soaring in January.
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The Sydney suburbs where house prices are set to grow
A host of Sydney suburbs are set to see house prices grow by more than five per cent in the next six months led by the more affordable end of the market.
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House and unit price gap hits record $300k in capital cities
The gap between capital city house and unit prices has never been wider, with detached homes now costing almost $300,000 more.
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New Zealand sales volumes near 40-year lows
High interest rates continue to weigh on New Zealand's housing market, with monthly sales volumes seeing the second-slowest January in 40 years.
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@realty celebrates a decade of innovation and success
This week @realty, a leading player in the real estate industry, is commemorating its remarkable 10-year anniversary.
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The value of property purchases falls as buyers tighten their belts
Rising interest rates led Australian borrowers to tighten their purse strings last year, with the total value of property purchases down 12.7 per cent according to new research
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McGrath posts $7.5 million profit and plan for more offices
McGrath now has 16 more offices and 81 more agents than it did a year ago, with a view to add 115 high quality new offices to the network over the next three to four years.
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NSW Government floats levies and day caps on short-term rentals
Revenue levies and lower day caps are among the options the NSW Government will consider in a review of short-term rental accommodation in the state.
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New Zealand homeowners struggle to pay mortgage
New Zealanders are struggling afford a home, with higher interest rates and elevated property prices squeezing borrowers.
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Forget about making zillions, Zillow posted a net loss for 2023
A fourth quarter surge in revenue hasn’t stopped US listings platform Zillow from posting a calendar year loss of US$158 million in 2023.
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New listings surge in Sydney and Melbourne
A surge of sellers have listed their homes, with Sydney and Melbourne reporting the biggest jump in new listings in more than a decade.
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Busselton leads the way for regional price growth in WA
The coastal community of Busselton in Western Australia’s South West was the top-performing regional centre for the December 2023 quarter according to new data.
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Ray White agents focus on process in 2024
The opportunity to have your best year ever will be dictated by your process was the message coming out of Ray White’s annual Engage training session.
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NSW vacancy rates ease as the rental crisis continues
In a small win for New South Wales renters, residential vacancy rates have eased in some areas, however, there is likely more pain ahead for tenants according to the industry.
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Regional areas emerge as sanctuaries from the rental crisis
The rental crisis continues to put renters under extreme pressure, however, new research has found a number of regional areas are emerging as “sanctuaries” for renters in search of relief.
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Consumer confidence boosts property market auction success
Consumer confidence is returning to the property market, resulting in higher than normal auction clearance rates.
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Rent freeze would spell disaster for Canberra
The Greens latest proposal to freeze rents in the ACT would be a “catastrophe” for Canberran renters and families, according to a peak real estate body.
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REIA warns against over-favouring corporates in BTR investments
The Real Estate Institute of Australia (REIA) has cautioned the Federal government, not to prioritise foreign investment into Build to rent (BTR) over individual investors.
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REACH Australia and New Zealand unveils the class of 2024
A tech-driven, custom-tailored menswear brand, a resident experience company meeting the demands of modern living and a group that empowers anyone to buy and sell tiny squares of conservation land, have been named in 2024 REACH Australia and New Zealand program.
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Home sweet heart: buyers find love after moving
More than 40 per cent of recent home buyers haven’t just purchased bricks and mortar, but found love after buying their new abode.
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Tribunal denies BTR landlord a rent increase of $85 per week
A Canberra landlord who wanted to hike their tenant's rent by 20 per cent has had the move denied by a tribunal.
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Stamp duty now costs up to six times more than a generation ago
Homebuyers are now paying up to six times more in stamp duty than a generation ago as incomes have not kept pace with surging home prices according to new research.
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The Florida compound set to break records
A stunning compound in Naples, Florida, the features three homes has been listed for sale at an astounding US$295 million.
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How can housing values fall when demand is so high?
The housing crisis and ongoing demand for property due to population growth is being reflected most of all in rental markets, with home prices falling in some areas according to an expert.
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