INDUSTRY NEWS
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Katrina Garwood and Ian McCallum join The Agency in Tasmania
The Agency is expanding in Tasmania with the highly successful team of Katrina Garwood and Ian McCallum joining the national real estate brand.
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Affluent Sydney suburbs expected to outpace more affordable areas
Suburbs in the middle and upper end of the Sydney property market are expected to grow by as much as nine per cent in the next six months, far more than more affordably priced homes according to a new report.
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Strata managers struggling with verbal abuse and long hours
Strata managers are increasingly facing difficult working conditions, with nearly two-thirds facing verbal abuse from both owners and tenants on top of long hours.
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MyBrix set to shake up property finance
A peer-to-peer platform that enables buyers to fund and invest in Australian real estate is set to launch next month, promising no interest and no repayments for homeowners.
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The Agency increases market share and poised for more growth in 2024
The Agency sold more homes in the 2023 financial year despite national market transactions dropping more than 20 per cent, according to the group’s newly released financial and operational update.
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‘Retiring renters’: Australia’s future crisis as home ownership falls 18 per cent for young adults
Home ownership rates have fallen almost 20 per cent in the past 40 years, with further headwinds propelling Australia towards a growing population of “retiring renters”, according to the REIA.
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Rents likely to rise as vacancy rates fall again
There’s still no relief for struggling renters, with vacancy rates falling again in July.
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Bunbury tops the list of promising regional locations
Bunbury in the southwest of Western Australia has emerged as a top growth candidate, as the state's population continues to grow at a rapid rate.
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Soft new home sales to hit builders in 2024
Australia is on the cusp of home building hitting a decade low at the same time demand for housing has reached crisis levels.
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REA Group identifies ways to ease the NSW rental crisis
Unlocking housing supply, including improved use of existing properties and streamlined government planning processes to boost fast and effective development, are among the key recommendations from REA Group to solve the rental crisis in NSW.
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Social housing boost for Sydney’s Waterloo Estate
Almost 500 additional social and affordable homes will be added to Waterloo Estate, under revised plans for the rejuvenations of one of the nation’s largest social housing estates.
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FHBs need up to two decades to save for a home deposit
Young Australians hoping to get into a home of their own are needing to spend up to two decades saving for a deposit according to new research.
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Agents need to plan auction campaigns early ahead of a busy Spring
With listings set to rise this Spring selling season, it’s critical that agents start planning their auction campaigns early to ensure they get the best possible result, according to an expert.
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Renters turn a blind eye to property flaws to secure a property
Renters are putting up with mould, bad smells and even being forced to share a room in a bid to secure a rental property according to a new survey.
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New Zealanders spending half their income on mortgage repayments
Despite property prices easing across New Zealand, mortgage holders are still spending nearly half their income on repayments according to a new report.
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New Zealand AI firm ListAssist selected for Miami pitch battle
New Zealand AI company ListAssist has been selected to compete in the Innovation, Opportunity & Investment Summit’s Pitch Battle in Miami next week.
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Troubled Chinese developer Evergrande files for bankruptcy
Troubled Chinese developer Evergrande has filed for bankruptcy in the US as it attempts to work out an offshore debt restructuring plan for its $468 billion in liabilities.
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40,000 low-income earners able to access the government’s shared equity scheme
Up to 40,000 low-income earners will get additional government help to purchase a home under the new Help to Buy scheme.
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New listings on the rise, with more stock on the way
New listings are on the rise in Sydney and Melbourne, but the smaller capital cities could be about to see an influx of new stock according to new data.
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McGrath posts $6.2 million profit with 18 new offices
McGrath has posted a solid net profit after tax of $6.2 million for the 2022-2023 financial year, despite a tough property market, driven by historically low listings.
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Building industry says “yes we can” build 1.2 million homes
The building industry has thrown its support behind the Federal Government’s “ambitious” plans to build 1.2 million homes over five years to tackle the ongoing housing crisis.
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Further industry recognition for the award-winning McGill Group
Hot on the heels of taking out the award for Small Residential Agency of the Year in 2022, The McGill Group is celebrating further recognition, being named as finalists in five categories of the Real Estate Institute of Queensland Awards for Excellence in 2023.
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New listings on the rise in Sydney and Melbourne
New listings are rapidly rising across Sydney and Melbourne, setting up a busy spring for agents, according to a new report.
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Sydney’s vacancy rate tightens again putting more pressure on renters
Relief for Sydney tenants has been short-lived with new data showing the vacancy rate has fallen again in July.
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Western Australian regional towns record double-digit growth
Tight stock levels and heavy demand continue to put upward pressure on prices in most of Western Australia’s large regional centres, according to new data.
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Realtair expands to New Zealand
PropTech Realtair has kicked off the start of its international expansion program, moving into New Zealand this week.
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Industry applauds National Cabinet’s property reforms
A step in the right direction, game-changing, ambitious and sensible are just some of the terms real estate industry bodies have used to describe National Cabinet’s housing policies announced this week.
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More new homes and rent limits on the way
National Cabinet has supported a deal to build 1.2 million homes over five years from July 2024, with Prime Minister Anthony Albanese also rejecting the idea of a rent freeze but signalling rent limits are on the cards. Under the plan, an additional 200,000 homes will be built on top of the one million properties originally announced in the new…
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David ‘Kochie’ Koch joins Compare the Market
Former Sunrise host David Koch has issued a challenge to Australians to switch and save on a “big bill” every week for the next two months.
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Real estate group creates AI avatar to liaise with buyers
In an American first, a luxury real estate group in the US has created an AI avatar that buyers can liaise with to search for homes.
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High end regional property markets continue to struggle
Regional Australia’s housing market has declined over the past 12 months, with the high-end Covid hotspots continuing to lag more affordable locations.
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The Block marketing campaigns launch on Domain
Buyers look set to fork out close to $3 million for the homes on season 19 of The Block, with the marketing campaigns going live on Domain this week.
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Falling land sales to add to housing pain
Despite the ongoing housing crisis and record levels of immigration increasing demand for homes, land sales have collapsed.
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The proportion of eco-friendly homes on the rise
The number of eco-friendly listings is on the rise, with more homes being both built and marketed with features like solar panels or water tanks according to new data.
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Apartments emerge as a top investment candidate
Strong demand for apartments has made units an enticing proposition for investors, with a host of locations likely to see rising prices in the next six months.
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