INDUSTRY NEWS
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Little town, big sensation: Victoria’s most affordable property sparks a frenzy
A derelict property in a tiny Victorian town has created a frenzy.
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90 per cent of NSW teachers can’t afford to live where they teach
The surging cost of housing over the past decade has led to teachers being unable to afford a home in the same location that they teach in according to new research.
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Call to cut refinancer stress test to let borrowers out of mortgage prison
Australia’s leading financial comparison site, RateCity, has called on the Australian Prudential Regulation Authority (APRA) to lower its stress test for refinancers.
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New study finds low interest rates lock first home buyers out of property market
Long periods of low interest rates are responsible for locking many first home buyers out of the property market, new research shows.
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Listings up 5.6 per cent compared to last year
Property listings experienced their traditional lull during April, however, in positive news for homebuyers, they are now higher than the same time last year.
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South Australia’s top performed locations likely to see more growth
The South Australian property market has defied the national downturn, with a host of well performing suburbs set for more growth, according to new figures.
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PropTech funding climate shifts as market conditions improve
The funding market for PropTech companies is experiencing a positive shift, making it easier for businesses to access capital, according to an expert.
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New social media platform Boa connects business owners
A new social media platform that will help business owners connect, network, grow their businesses and seek advice from their peers has launched.
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Is the new home sales market turning around?
New home sales have risen 6.8 per cent, with industry experts hinting the market could be starting to rebound
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ATO has rental property deductions in its sights
The Australian Tax Office (ATO) has announced it will be targeting rental property deductions and capital gains tax this tax season.
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Australian renters battle crisis-level market, compromise on property features
Australian renters have at least six rental applications in at any one time and are forced to compromise on property features in order to secure a new place to live, new analysis shows.
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Australia’s housing crisis: unmasking the real culprits and solutions
The housing crisis is the hot topic on everyone's lips, and with last week's Federal Budget, and the release of the third and final whitepaper from LongView and PEXA examining the conundrum released this week, it's not going anywhere fast.
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Private capital key to solving Australia’s housing crisis
Shared equity schemes and rental investment trusts funded with private capital offer the best chance to rectify the national housing crisis, according to new analysis released today.
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New rental listings nosedive in April
Vacancy rates may have eased slightly in April but the latest PropTrack data shows the number of new rental listings on realestate.com.au plummeted last month.
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OpenAI’s ChatGPT Plus revolutionises user experience with 70+ powerful plugins
OpenAI has unleashed a suite of more than 70 third-party plugins for its ChatGPT Plus users to visualise and analyse data, parse website content, ask PDFs questions, help them househunt and even assist them to learn foreign languages.
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Victorian tenants caught in cruel rental scams
Cunning scammers are preying on vulnerable tenants trying to find rental properties in Victoria’s tight rental market, with victims losing more than $125,000 this year, so far.
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Sydney council proposes tax on empty homes
In an effort to combat the housing affordability crisis and increase the availability of rental properties, the Inner West Council in Sydney has put forward a proposal for a tax on empty homes.
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Aussie renters feel ‘left out’ of the Federal Budget despite new housing initiatives
More than half of Australian renters say they’ve been ignored in last week’s Federal Budget, with a further 25 per cent saying the government measures aimed at fixing the housing crisis don’t go far enough.
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Rental vacancy rates show slight improvement nationally
Rental vacancy rates eases slightly across the nation in April, with Darwin the only capital city to see a drop in vacancy rates.
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Rent bidding legislation could prove problematic
Proposed legislation to eliminate “secret rent bidding” is currently before NSW parliament, but the head of the state’s leading real estate industry body fears it could be difficult to manage in practicality.
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Queensland has the nation’s most affordable suburb
Bardon, the leafy, green suburb in western Brisbane has topped a list of the nation’s most affordable suburbs.
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Gold Coast trophy home back on the market
The owners of a luxurious riverfront mansion on the Gold Coast have launched a new campaign to sell their lavish property.
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Property prices rise across regional WA, but some relief for renters
Tight supply and expensive build costs are putting upward pressure on property values across regional Western Australia.
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Iconic 1920s bungalow in Sydney’s Tamarama smashes records with $45 million sale
A 1920s brick bungalow in the Sydney suburb of Tamarama that last traded for £9750 in 1959, has sold for what’s believed to be about $45 million.
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Small investors remain active in the commercial market
Higher interest rates have contributed to slowing commercial property sales, however, assets under $5 million are still popular with investors according to an expert.
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Mark Carter: understanding and delivering value can generate more listings
Understanding your value proposition and knowing how to add value can help grow your real estate business according to an expert.
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Federal Budget doesn’t do enough to address long-term housing shortage
Real estate and housing industry experts have said the Federal Budget looks good on the surface but lacks the depth to address the nation’s long-term housing shortage.
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Feeling bored? Go for an indoor swim
A stunning Olinda house with its very own indoor, spring water pool and spa has officially hit the market with a price guide of $2.4-$2.64 million.
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Building approval drop adds more fuel to the housing crisis
The housing crisis across the country could get worse after building approvals dropped to their lowest level in a decade, according to experts.
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Protect your business and clients’ privacy: O*NO Legal’s Privacy Prepared Health Check
There’s no better time than now to make sure you’ve got your legals covered when it comes to your clients’ privacy.
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Rent assistance forms part of first surplus Federal Budget in more than a decade
Cost of living relief has formed the centrepiece of Jim Chalmers’ second Budget in under a year, with the treasurer delivering a surplus for the first time in 15 years.
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New AI to give agents micro market insights
The Real Estate Institute of Victoria has joined forces with PropTech business PointData in a move that will enable agents to drill down to street level to generate market insights.
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Are renters being forgotten with the focus on mortgage holders?
Despite the ongoing attention on mortgage holders getting hit with higher interest rates, renters are actually the ones that are far worse off according to new research.
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Market downturn sees eXp World Holdings revenue and profits fall
eXp World Holdings, the parent company of virtual real estate brokerage eXp Realty, has announced its financial results for the first quarter of 2023 with significant drops in revenue and profit.
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Redfin joins the AI race – launches chat-based search plugin
The AI race is well and truly on in the US with real estate brokerage Redfin launching a ChatGPT plugin just days after Zillow did the same.
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