INDUSTRY NEWS
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Share of sub-$400 per week properties falls sharply
The number of rental listings asking for $400 per week or less on realestate.com.au has nearly halved in the past year, new data shows.
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Improving auction clearance rates: what do they tell us about the rest of the market?
Australia's auction clearance rate edged past 70.3 per cent last week, following a strong month of auction activity in February, but it's too soon to interpret the improvement as a sign that the downswing is over, experts say.
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Inspect Real Estate joins forces with Reapit ANZ
Reapit ANZ, backed by US private equity firm Accel-KKR, has added local real estate software company InspectRealEstate to its portfolio.
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Rush to quality driving inner-Melbourne market resurgence
An influx of overseas students and the return of Australians from overseas is driving activity in Melbourne's luxury apartment sector, with a future supply crunch set to sustain price growth, says The Agency's Michael Paproth.
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Rate cuts could begin from 2024, Westpac says
The Reserve Bank of Australia is expected to issue seven rate cuts between 2024 and 2025, according to a new forecast from Westpac, but not before the cash rate reaches a high of 4.1 per cent.
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Gold Coast predicted to take an increasing slice of the population pie
The Gold Coast is set to benefit from an increasing share of overseas migration to Australia, helping prices there remain resilient, a leading economist has predicted.
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US market down $2.3 trillion since peak
New figures from Redfin show the US housing market has lost 4.9 per cent, or US$2.3 trillion, in value since its peak in June.
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Sydney beats out Geneva, Paris for super prime sales
Sydney ultra high-end market has proven relatively resilient to economic headwinds, according to new research from Knight Frank.
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Domain sees spike in rental demand coming from China
New figures from Domain show Australia's vacancy rate remained stubbornly low during February, with the company reporting a spike in rental search traffic from China.
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APRA chooses not to loosen borrowing restrictions
The Australian Prudential Regulation Authority has declined to loosen its current serviceability buffer for new home loans despite from the banks to do so.
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Former Block winners to host Location, Location, Location
After nearly a decade off our screens, the property show Location, Location, Location is set to return with a pair of familiar faces at the helm.
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Perth rents reach all-time high
Perth’s median rent reached an all-time high of $535 per week in February, with vacancy rates remaining well below what's considered a balanced market range.
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New Zealand value decline re-accelerates in February
The downturn in the New Zealand property market gained renewed pace in February, with values falling at their fastest rate since October 2022.
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Is the downturn over? Home values bounce back in February
Australia's property values increased slightly in February, according to PropTrack, while separate figures from CoreLogic also show the downturn losing steam.
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New ABS figures reveal knockdown hotspots
The number of demolition projects in Australia is predicted to fall in the coming 12 months, but some areas are still seeing a high level of knockdown activity, according to new analysis.
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Anne Flaherty: PropTrack economist’s predictions for 2023
While 2023 is likely to be a tough year for renters, signs are starting to emerge that the worst may be over for homeowners, according to PropTrack Economist Anne Flaherty.
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The Queensland agency offering to cover six months rent or mortgage payments
With the cost of living crisis taking its toll on Australian households, one Queensland real estate agency has taken matters into its own hands.
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Why the regional sea and tree change trend isn’t over yet
Predictions of a mass return to the cities following the end of the Covid-19 pandemic have been overstated, according to one expert who is predicting continued growth in regional property markets.
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Raine & Horne announces the passing of Max Raine
Max Raine, the former Chairman of Raine & Horne, has passed away at the age of 91, the company has confirmed.
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CoreLogic completes Plezzel acquisition
CoreLogic International has completed its acquisition of Victorian-based proptech firm Plezzel, a digital automation and lead generation platform.
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Queensland introduces Property Law Bill to parliament
The Real Estate Institute of Queensland (REIQ) has slammed the Queensland government's decision to introduce a bill implementing a formal seller disclosure regime before resolving what it claims are outstanding questions.
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Australia’s empty offices could be the key to solving the housing crisis
Turning empty office buildings in Australia’s CBDs into housing via a process known as asset repurposing could help solve the country’s housing affordability issues, according to a new report from PRD.
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Regional Western Australia’s top price growth locations revealed
Western Australia's Bunbury was the top performing regional centre in the state over the December 2022 quarter, according to new data from the Real Estate Institute of Western Australia.
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2023 ARERA winners announced
The winners of the annual Australasian Real Estate Results Awards (ARERAs), an initiative of the Real Estate Result Network, have been announced.
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Westpac predicts rents will keep rising for longer
Westpac is predicting that rents will jump by 11.5 per cent this year, enough to tempt investors and developers back into the market.
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The real reason real estate sales figures went backwards this January
A new report from Xero showing lackluster sales figures in the real estate sector is likely a hangover from early 2022's abnormal selling season rather than an indication of a looming crisis, industry experts say.
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Australia’s leading on-shore contact center, saving you time in your prospecting
Meson Agency’s Founder John Angelopoulos can sum up his organisation in a nutshell.
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MRI Software completes PropTech Group acquisition
MRI Software has completed its $93.4 million stock acquisition of PropTech Group.
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Prices are falling, so why is it still so expensive to buy in New Zealand?
Property values have been falling in New Zealand, but rising interest rates mean Kiwis are handing over more of their income to make mortgage repayments, CoreLogic reports.
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School zones still attracting price premiums
Being in a school catchment zone could add ten per cent to a property's sale price, according to new research from Domain.
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Population patterns, not tax breaks, responsible for housing crisis
Australia's unique population patterns and a shortage of available residential land near jobs and services has had a far greater impact on house prices than interest rates or government subsidies, new analysis shows.
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100 days in: Craig Pontey shares highlights from time at McGrath Double Bay
We've been closely watching leaders' first 100 days since the times of President Roosevelt, and the two co-principals of McGrath Double Bay are no exception.
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HTW property predictions: Second half of 2023 to bring stability
Rapid interest rate increases have eroded the optimism surrounding residential property, but a slowdown in rate rises in the second half of the year is expected to bring increased stability to the market, Herron Todd White says.
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McGrath’s half-year results: expansion, profit and market outlook
McGrath has revealed its plans to add 125 new, high quality offices to its national network as part of its growth strategy over the next four years.
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Auction clearance rate on the rise
Auction activity lifted again this week with preliminary figures from Domain recording a 67.6 per cent clearance rate from 1068 reported auctions.
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