INDUSTRY NEWS
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Sydney property outperforms expectations, with more growth ahead
Pent-up demand across Sydney’s property market has seen price increases outperform analysts' forecasts, with an expert predicting 2024 could be “boom mode” for prices.
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Barry Plant Eastern Group takes a collaborative approach to growth
Just over 12 months on from the successful acquisition of Philip Webb Real Estate, Barry Plant Eastern Group has successfully navigated the rapid expansion thanks to a collaborative approach with members of the new team.
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Housing crisis is due to lack of supply, not immigration
The more than 500,000 new immigrants aren’t causing pressure on the housing market or making property prices more expensive according to a leading buyers agent.
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Shane Smollen to sell Byron Bay beauty worth more than $40 million
A lavish beachfront property in Byron Bay, spanning three land titles with a 30m coast frontage, is currently drawing significant attention from potential buyers.
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Vacancy rates ease but market remains exceptionally tight
You wouldn’t call it a Christmas gift, but vacancy rates eased slightly in November, with the national vacancy rate up .04 percentage points in November.
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Australia’s top-growth suburbs saw values rise 30 per cent
The top-performing suburbs across the country, saw their values surge more than 20 per cent this year according to new data.
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Housing affordability drops to a new low
Australians are struggling to afford housing like never before as rising interest rates and soaring housing and rental prices continue to bite.
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Foreign investment fees up, aiming to ease Aussie housing crisis
The Federal Government will triple foreign investment fees for the purchase of established homes and double ‘ghost house’ fees for foreign-owned dwellings in a bid to boost Australia’s housing stock.
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Agency operating costs and commissions impacting profit margins
Challenging market conditions over the past few years with rising costs and declining commissions have been weighing on real estate businesses according to a new report.
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Store linked to bushranger Ned Kelly hits the market
A Benalla store where Ned Kelly battled with police has hit the market for the first time in 35 years.
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Perth house prices hit a new record high
Strong demand for property in Perth has seen the median house price hit a record high of $585,000 in November according to new data.
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RBA appoints a new chief economist and assistant governor
Sarah Hunter has been appointed chief economist and assistant governor (Economic) at the Reserve Bank of Australia (RBA).
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Property prices could rise 4 per cent next year
The rebound in the property market is expected to continue in 2024, with values to rise by up to 4 per cent according to a new report.
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Aussies are stashing cash in their offset accounts
Borrowers are stashing spare cash in their offset accounts in a bid to help fend off higher interest rates and rising cost of living.
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The Block serial buyer Danny Wallis to offload his 11 Victorian properties
One of the biggest buyers on The Block, Danny Wallis, is set to sell all of Victorian investment properties, with new taxes and regulations making it untenable for the investor.
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Leanne Pilkington named president of REIA
A powerhouse trio of female real estate experts will lead the Real Estate Institute of Australia into 2024, with Leanne Pilkington being named president and Hannah Gill taking on the deputy president role.
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Darwin property market poised for major growth
Double digit property price growth is tipped for Darwin in 2024, with one expert forecasting a return to the dizzying heights of 2012.
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Confidence returns as auction volumes hit a 19-month high
Vendors have been busy trying to sell their properties before the Christmas break, with capital city auction volumes surging to a 19-month high.
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Australians under extreme financial stress compared to 2020
Despite the Reserve Bank of Australia (RBA) keeping rates on hold, Australians are still facing mounting financial stress according to a new survey.
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Aussie mortgage holders spared a Christmas interest rate rise
The Reserve Bank of Australia has provided mortgage holders a Christmas time reprieve, electing to keep interest rates on hold at 4.35 per cent at today’s board meeting.
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Renters facing a tight changeover period as vacancy rates remain low
The traditional summer changeover period is shaping up as an incredibly challenging period for renters with the latest vacancy data showing supply remains at record low levels.
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Leading Cairns agencies join Ray White
Top Cairns agents Ray, David and Sharyon Murphy are rebranding their market-leading agencies, to become Ray White Cairns and Ray White Palm Cove.
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QLD unit prices ‘awaken from their slumber’
QLD home buyers are starting to chase affordability with new data showing that unit price increases are starting to outpace freestanding homes.
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Real estate networks champion charitable causes
Real estate agents are a philanthropic bunch and with Christmas just around the corner, three networks have given back to charitable causes aimed at making the lives of others better.
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See inside the tiny apartment worth $500,000
A minuscule apartment in Bondi Beach has been snapped up at auction for a staggering $511,000, surpassing its reserve by more than $41,000.
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Australia’s most viewed properties in 2023
A chapel with a graveyard, a fixer-upper with 19 bedrooms, a house from The Block, an abode with a Raffles Hotel bar and a breathtaking rural property were among the most viewed homes on Domain this year.
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Borrowers to be spared a Christmas interest rate hike
This week’s lower-than-expected inflation number is shaping up as an early Christmas present for borrowers, with the Reserve Bank of Australia (RBA) set to keep rates on hold at next week’s board meeting according to the experts.
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New Zealand property prices continue to recover
Property prices in New Zealand ticked higher last month adding to the recent string of increases suggesting the market has turned the corner for the time being.
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Property prices hit record high despite growth slowing
Australian property prices have hit a new record high, climbing 0.22 per cent in November, according to PropTrack.
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The RBA was ‘too hasty’ in raising interest rates again
The Reserve Bank of Australia (RBA) might have been too hasty in hiking interest rates last month, with the latest inflation data showing inflation slowed down in October.
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Sydney super prime sales buck the worldwide trend
Rising interest rates have been slowing down the super prime market around the world, however, Sydney has bucked the trend and seen sales rise according to a new report.
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US home sellers file another commission lawsuit
Another lawsuit has been filed in the US against the National Association of Realtors (NAR) and major real estate companies, accusing them of conspiring to keep commissions high.
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Property prices tipped to rise further in 2024
Combined capital city house and unit prices are tipped to reach a record high in 2024, after price expectations defied forecast declines in 2023.
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Two-thirds of buyers and renters want energy-efficient homes
Increasing energy costs are leading homebuyers and renters to turn towards energy-efficient homes according to a new report.
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Help to Buy scheme set to get more people into a home
Thousands of Australians looking to buy a home and struggling with affordability will soon get more government help, with the introduction of the Help to Buy scheme.
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