INDUSTRY NEWS
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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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US-based Compass is cash flow positive for the first time since going public
Compass, the largest real estate brokerage in the US, has posted a profit for the first time since going public and has increased its market share.
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Art the leading luxury investment, not real estate
Art has topped the list of best-performing luxury investment class ahead of other popular categories including watches, jewellery and coins.
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The common sense way to provide the ultimate buyer experience
When Jane Briscoe began the process of finding a new family home in Sydney’s North in early 2022, never could she have imagined just how much of her time would be devoted to the search.
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Relief for Perth renters as vacancy rates rise
Perth renters might be starting to get some relief, with new data showing that vacancy rates have risen for the first time in six months.
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Fixed rate mortgage cliff hasn’t hurt borrowers yet
With the fixed rate mortgage cliff already underway, there’s still no sign of distressed sellers or a blowout in arrears according to an expert.
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Elevate Residential joins fight against over-55 women’s homelessness
A Brisbane real estate agency has joined a campaign to help give women over 55, who are at risk of homelessness, access to safe and affordable housing and personalised support packages.
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Profitable resales in New Zealand fall to the lowest level in eight years
Falling property prices across New Zealand has seen the number of homes sold for a gain tumble to the lowest level since 2015.
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Which generation is most likely to engage in rent bidding?
Baby boomers are the least likely cohort of renters to engage in rent bidding, according to new research from rent.com.au.
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WA Government overturns Aboriginal Cultural Heritage Act
The Real Estate Institute of Western Australia has welcomed the State Government’s decision to overturn the controversial Aboriginal Cultural Heritage Act saying it’s “a common sense solution for all parties”.
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Vacancy rate easing was just a “blip” according to new research
Rising vacancy rates in certain suburbs might just have been a “blip” with new data showing the number of available rentals in some areas is again starting to fall.
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The Agency launches a storybook to help children cope with the stresses of moving
The Agency has launched a children’s book to help families manage the stress of moving house.
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REACH Australia & New Zealand aim to help more PropTech companies in 2024
PropTech accelerator REACH Australia & New Zealand continues to encourage new PropTech innovation in the real estate industry and is opening applications for its fifth cohort in 2024.
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Farms have hit record prices but the forecast is more uncertain
We have never had such good farming conditions as we did in 2022. While particularly good Australian weather conditions were the major driver, so too were poorer conditions elsewhere around the world.
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Old police station transformed into a family home for sale
A former police station that has been meticulously transformed into a beautiful family home is up for sale in South Australia.
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There are still affordable rentals across the country
Despite the ongoing rental crisis making life difficult for tenants, there are still suburbs that are affordable for renters according to a new report.
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Port Hughes beach shack selling for first time in 50 years
A rare Port Hughes beach shack that has been owned by one family for more than 50 years is up for sale for the first time.
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REIWA call for changes to Aboriginal Cultural Heritage Act
The Real Estate Institute of Western Australia has called on the State Government to make changes to the Aboriginal Cultural Heritage Act in the name of aiding responsible development in the state’s undersupplied housing market.
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