INDUSTRY NEWS
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Higher rates weigh on household spending
The Reserve Bank of Australia (RBA) might be getting close to the end of its hiking cycle, but there are signs that the economy has already slowed down.
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Samantha McLean and Mark Edwards to gear up for 700km Thailand ride for underprivileged children
Elite Agent Publisher Mark Edwards and Managing Editor Samantha McLean have long sponsored the Digital Live Ride to support underprivileged children in Thailand, but in 2025 the pair will officially don the lycra and cycle across The Land of Smiles.
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Cleverly edited photos help sell cluttered home
A cluttered family home in South Australia, that wasn’t able to be presented to the market in its best light, has managed to sell above the price guide, with the help of some cleverly edited digital images.
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Property Council scholarship to promote women in property
A new scholarship aimed at promoting women in property has been announced by the Property Council of Australia and Chief Executive Women.
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Sydney’s super-prime home sales double
The number of super prime sales above US$10 million have doubled in Sydney, according to the latest Global Super-Prime Intelligence report.
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Vacancy rates on the rise across the country
There are early signs of relief for struggling renters, with a new report showing vacancy rates have started to increase in most capital cities over the past three months.
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Investors selling up as government threats push them out
New legislation, increased taxation, and potential rental reforms, including rent freezes, have led to 12 per cent of Australian investors selling their properties, according to a new survey.
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ATO to crack down on landlords this tax time
The Australian Tax Office (ATO) has warned it will crack down on landlords over claiming expenses and claiming for improvements to private properties.
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Landlord ordered to pay tenant for not keeping property in “reasonable repair”
A NSW landlord has been ordered to pay a former tenant $2100 for not keeping a rental property in “reasonable repair”.
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$10 billion housing fund passes after Greens secure an extra $1 billion
After months of protracted negotiations the Housing Australia Future Fund Bill will finally pass the Senate this week, after the Federal Government today agreed to spend a further $1 billion on public and community housing.
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National vacancy rate hits new low of 1.1 per cent
The national vacancy rate has hit a new low of just 1.1 per cent after recording its largest drop in more than a year in August.
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Honest marketing plan sees hoarder house sell way above reserve at auction
A Central Coast hoarder house, complete with clutter and disarray has been sold for an astounding $160,000 over its reserve price, catching onlookers and real estate agents off guard.
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Toowoomba’s new social housing a “miracle” for struggling tenants
The first tenants have started moving into new social housing in Toowoomba in Queensland, with 15 more homes on the way thanks to a partnership between the state government and YWCA.
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Housing affordability at the lowest level since 2008
Housing affordability continues to worsen across Australia with new data showing it now takes 45.9 per cent of a household's income to meet average loan requirements.
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Build-to-rent set to take off in Australia
Australia’s build-to-rent sector is set to grow to 55,000 dedicated units by 2030, with growth set to mirror that of the UK from 2015 onwards.
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Queensland property continues to bounce back, led by regional areas
Queensland property continues to go from strength to strength, with a number of regional locations recording double-digit annual growth in the past 12 months.
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Still affordable opportunities for investors, as prices rise
Despite property prices rising substantially since 2020, there are still opportunities for investors to find good quality locations that are affordable.
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Best Nest creates innovative rewards program to ease tenant vacate costs
An innovative property management agency on Sydney’s far western outskirts is set to introduce a new tenant rewards program that solves one of renters main pain points - the added costs associated with vacating a property.
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Major real estate firms suffer multi-million dollar losses as WeWork teeters on brink of collapse
Real estate firms who backed troubled shared workspace provider, WeWork, when it went public two years ago have now reportedly lost millions of dollars.
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New listings in Sydney hit the highest level in 14 years
Sydney has experienced the biggest surge in new listings since 2009, with vendors rushing to the market as Spring selling season kicks off.
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Short-stay accommodation increase contributing to the rental crisis
A sharp increase in the number of homes being put up as short-term accommodation is adding to the ongoing rental crisis according to the Real Estate Institute of Australia (REIA).
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Rising interest rates lead to poor mental health and increased stress
The impact of rising interest rates is taking a huge toll on borrowers, with 75 per cent of mortgage holders negatively impacted in their personal lives.
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Reserve Bank keeps interest rates on hold for third consecutive month
The Reserve Bank of Australia has kept interest rates on hold for a third consecutive month as it seeks to gain more clarity on the nation’s economic outlook.
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Perth’s tight market sees prices and rents continue to rise
Low listings and rentals have kept upward pressure on home and rent prices across Perth, according to the latest data.
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“Buyers are back”, as higher prices boost confidence
The likelihood that rate hikes have ended and rising prices, has seen buyers return to the market according to a new report.
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Housing affordability hits the worst level in three decades
The great Australian dream of home ownership is becoming a nightmare for many families, with new data showing that median-income earners can afford just 13 per cent of homes across the country.
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Financial strain: 15 per cent of homeowners fear selling amidst rising costs
Distressed property sales could be on the rise according to new research which shows 15 per cent of homeowners are worried they might have to sell their property due to the rising cost of living.
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QLD and WA suburbs continue to outperform
The property market across the country continues to look increasingly positive, with an expert tipping more growth is still ahead for many areas.
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New listings off to a strong start this spring
The spring selling season appears to have started early with new listings growing 9.4 per cent across Australia in August.
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Has the interest rate rising cycle run its course?
Two-thirds of experts believe interest rates have peaked, while 97 per cent say the Reserve Bank of Australia will keep the cash rate steady at the next meeting.
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Property prices have bounced again in August
Spring selling season has arrived and property prices are continuing to heat up, with new data showing that values jumped 0.28 per cent in August.
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NZ property prices inching closer to a “floor”
The “floor” in New Zealand property is getting close, with values falling just 0.2 per cent last month according to CoreLogic NZ.
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The suburbs where owners hold homes more than 20 years
Clarinda, in Melbourne’s south-east, has been named the country’s most tightly held suburb for houses, with homeowners holding onto their properties for an average 24.4 years.
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Three reasons rent growth could slow in 2024
There could be some relief on the way for struggling renters, with rental growth likely to start slowing down according to an expert.
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Sydney’s luxury rental growth surges 13.1 per cent
Demand for Sydney luxury property has continued to surge with new data showing that rents have increased 13.1 per cent over 12 months.
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