INDUSTRY NEWS
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New listings rise in some capitals but down nationally
New listings and total listings may be down at a national level, but some capital cities recorded a rise in fresh properties coming to market in June, new analysis shows.
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Commercial sales drop as interest rates bite
Higher interest rates have hit commercial property hard, with sales activity down 37.6 per cent on last financial year.
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Former Fairfax family estate hits the market for $12 million
A stunning country estate that was built for media mogul John Fairfax's grandson, has hit the market with an asking price of $12 million.
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Victorian investors are selling up over costly land tax
Stockdale & Leggo agencies across Victoria have reported a large number of mum and dad investors selling up ahead of the state’s new land tax coming into effect next year.
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Perth’s growing population to support property market prices
Perth’s property market has managed to defy 12 interest rate hikes and remain resilient, with strong population growth likely to continue the trend.
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NSW Government appoints first rental commissioner
The NSW Government has appointed its first-ever rental commissioner in a role it has termed will be a “voice for renters”.
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Easing rental market, but rising rents loom nationwide
Rental market conditions have eased the most since November 2020, but weekly rents are expected to continue rising.
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NAB lowers refinancing stress test for select borrowers
NAB has joined CBA and Westpac in lowering the stress test on selected refinance applications for borrowers who do not pass the bank’s standard serviceability test.
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NSW Government’s Rental Fairness Bill could worsen the housing crisis
The NSW Government’s proposed Rental Fairness Bill is anything but fair according to real estate experts who fear it will only make the state’s housing crisis worse.
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Surging demand meets limited stock: capital city clearance rates rebound
The demand is there but limited stock has seen the combined capitals auction clearance rate hit a five-week high at a time when it traditionally plateaus.
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Four amazing tips you need to know from Elite Retreat 2023
Adaptability is the new competitive advantage, building a community around your business, developing a positive workplace culture and using AI to grow your business without growing your costs, were just some of the main themes to come from Elite Retreat 2023.
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Rents continue to rise, but growth is slowing
Record immigration and tight supply have seen rents across the country continue to rise, however, some cities are now starting to see rents fall as a multispeed market begins to develop.
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Investors urged to ‘stop chasing cash flow’ alone
With ever-rising interest rates along with cost of living pressures, investors are being warned to not focus just on cash flow and should look to locations that offer good capital growth opportunities.
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Australia’s rental crisis persists as rents jump again
There’s still no relief in sight for struggling tenants, with rents recording a two per cent rise over the past quarter, according to PropTrack.
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RBA issues a reprieve and holds interest rates
Borrowers are breathing a sigh of relief today after the Reserve Bank of Australia (RBA) decided to leave the official cash rate on hold at 4.1 per cent.
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Leading agent Taney Jain to established his own business
One of Australia’s top agents, Taney Jain has announced he’s departing Reliance Real Estate after nine years.
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Florida law bans some international buyers
Certain groups of foreigners will no longer be able to purchase property in Florida in the US after Governor Ron Desantis signed a new bill limiting foreign ownership.
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Property prices continue to defy rate hikes
National property prices keep on moving higher last month, despite the Reserve Bank of Australia (RBA) continuing to hike the cash rate.
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Stone Real Estate joins forces with Propic to leverage leading Artificial Intelligence technology
Stone Real Estate has announced a game-changing partnership with Propic, a leading Australian real estate PropTech innovator.
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It now takes 15 years for house prices to double in value
The old saying that property prices double every 7-10 years, might need to be updated, with new data showing that it now takes 15 years for properties in Australia to double in value.
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ACT and WA likely to see an uptick in listings
The ACT and Western Australia are likely to see the largest percentage of vendors listing their homes for sale in the coming months according to CoreLogic.
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Sad day as :Different goes into voluntary administration
Australian PropTech company :Different has gone into voluntary administration, with KPMG set to sell the platform’s assets and intellectual property.
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South Australia bans rent bidding
The South Australian government has followed New South Wales’ lead and outlawed rent bidding in the hope it will help ease some pressure on the rental crisis.
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AI could potentially lead to white-collar “Rust Belt suburbs”
The rapid rise in AI is already changing the way white-collar workers operate and it has the potential to severely impact the price of real estate in certain suburbs according to an expert.
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News Corp unveils two new property magazines
Real estate development and new home news will be the feature of two new property-related magazines News Corp Australia will unveil this weekend.
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Victoria dominates most in-demand suburbs
The Victorian suburbs of Berwick and Melbourne are the two most in-demand suburbs in the nation, according to new PropTrack data.
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Scammers fleece agent out of $300,000
A WA real estate agent has lost $329,500 after scammers successfully stole $329,500 from a trust account last week.
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Short-term and loss-making resales on the rise
Some sellers could be incurring a loss in order to avoid high mortgage repayments, with new data showing the number of loss-making resales held under two years has spiked.
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The building inspection tips your vendors haven’t thought of
An Adelaide building inspections company has released a 12-step checklist for real estate agents and their vendors to prepare a home for sale, ensure they’re not caught out by ‘hidden’ building issues and help generate the best price possible.
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More branded residences coming to Australia
Australia could soon see more branded residences popping up, with developments featuring the likes of the Ritz-Carlton and Four Seasons brands predicted to grow across the country according to a new report.
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The majority of agents are complying with NSW rent bidding laws
The vast majority of agents in NSW are doing the right thing and complying with rental bidding laws according to NSW Fair Trading.
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The fibs naughty renters tell their landlords
If you’ve ever told a fib to your landlord, then you’re not alone, with a new survey finding that 26 per cent of Australian renters have kept secrets from their landlord.
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Western Australia has the best property market conditions
Some of Australia’s smaller capital cities and their associated regional areas have the strongest property markets in the country according to new analysis.
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Fisherman Bay has Australia’s most serviceable mortgage repayments
Buyers looking for the most economical towns and suburbs where mortgage repayments are manageable should head to Fisherman Bay in regional South Australia.
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Profitability is the number one concern for agency bosses
Profitability has been named the biggest challenge in the real estate industry courtesy of falling transaction volumes, according to new analysis.
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