INDUSTRY NEWS
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Ray White Victoria and Tasmania welcome new chief auctioneer
Jeremy Tyrrell has been working with Ray White for almost a decade, helping them to become a market leading auction business in the state. The Announcement: Award winning Ray White auctioneer Jeremy Tyrrell has been elevated into the role of chief auctioneer for the group’s Victorian and Tasmanian network. Mr Tyrrell previously worked for Ray White in Victoria as chief auctioneer…
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RBA rate hikes kick in for variable borrowers
Borrowers with a CBA, NAB and ANZ variable home loan have had a 0.25 per cent interest rate rise, with the banks passing on the RBA's November rate hike.
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First annual decline in Australian home values since October 2019
The value of Australian residential real estate continued to decline in October, down to $9.5 trillion from $9.6 trillion according to CoreLogic.
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Auction volumes up 13 per cent
Capital city auction volumes increased almost 13 per cent this week, with 2159 properties going under the hammer to record a preliminary clearance rate of 60.1 per cent.
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Adelaide real estate leader receives national network’s biggest honour
Stephen Mutton, General Manager of Network at LJ Hooker, commended both Frank Newton and Mario Bonomi on their achievements. The Announcement: Adelaide real estate stalwart Mario Bonomi has received the highest honour at LJ Hooker’s international awards gala held in Cairns this week. Mr Bonomi, joint principal of LJ Hooker’s Adelaide Metro and Commercial offices, was bestowed the Sir Leslie…
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iBuying platforms falling like dominoes
It hasn’t been a good start to November if you’re an iBuying platform, with Redfin closing its house-flipping business and sacking 13 per cent of its team as the brokerage deals with the downturn in the US property market.
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5 secrets to growing your rent roll
What is the secret to building a successful property management agency?
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4 million virtual inspections show changing trends in buying property
More than four million digital property inspections have been undertaken on a leading virtual tours platform over the past 24 months, demonstrating a clear trend in how Australians want to rent and purchase property.
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More choice for buyers as listings rise
The total number of properties for sale is increasing in nearly every part of the country, finally giving more choice to buyers.
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Switch and save on your business insurance
Real estate agents face many risks, from misleading or deceptive conduct to clients falling over in their office.
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Flood-affected property markets to recover within 12 months
Flood-affected property markets are likely to bounce back within 12 months according to an expert.
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Stone Real Estate continues Queensland growth in Logan West
Fast growing real estate network Stone has launched its latest Queensland franchise office. The Announcement: Stone Real Estate is continuing its Queensland expansion, today announcing the launch of its Logan West office under the direction of owner-operators Darren and Leanne Gunn. Located south of Brisbane in the Logan suburb of Browns Plains, Stone Real Estate Logan West is a business…
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Young Australians live with their parents to save for a house deposit
The rising cost of living, including a lack of affordable housing, has changed the financial landscape for Australia’s youth.
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NSW and Brisbane hit hard by the housing supply crunch
Inner Brisbane and the western suburbs of Sydney are some of the hardest hit locations of Australia’s housing supply crunch according to new research.
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South Australian property remains steady as rates rise
Despite rising “economic uncertainty”, the South Australian property market continues to be the strongest in the country.
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McGrath expands into Brisbane’s north
An accomplished team of 10 will be led by principals Alex Porter and Claire McGrath. Tamika Kent, a top-producing high-performing agent, joins them in the role of sales manager.
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Queensland’s vacancy rates tighten further
Inner city Brisbane’s vacancy rate has dropped below one per cent for the first time in a decade, with several areas in the Sunshine State having almost no available rental properties.
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Another record-breaking year for pub sales
After a record-setting year for pub sales across NSW last year, 2022 is shaping up to be even stronger.
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Rate hikes slash home buyer’s budgets $214,000
The average family's borrowing capacity has shrunk by $214,600 as a result of seven months of interest rate rises.
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Billionaire puts Brisbane’s tallest penthouse on the market
Brisbane’s tallest penthouse, standing 270 m high, has hit the market.
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Nerida Conisbee: Australia’s ghost town suburbs
Holiday homes were hot property during the pandemic, fuelled by an inability to travel internationally, high savings rates and very low mortgage rates. This, however, has become a problem and we are seeing a shortage of rental properties as a result. In the most recent Census, there were 1.04 million homes unoccupied, or around 10 per cent of all Australian…
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What it takes to succeed in real estate
Just 40 per cent of new real estate agents are confident they can have a long-term career in the profession, a new survey reveals.
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Nigel O’Neil steps down as Barry Plant CEO
Nigel O’Neil will step down as chief executive officer of real estate group Barry Plant after four years with the business. Director Mike McCarthy has been appointed as the acting CEO, with Mr O’Neil to transition his handover in the the coming weeks. A search for Mr O’Neil’s successor has started. Mr O’Neil took over the CEO role from Mr…
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Digital signatures the most valuable tech tool for agents
Digital signatures, a lockbox and apps and technology that connect to listing portals, are the most important technology for real estate agents according to a new US survey.
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The 20 suburbs where property price growth is still on the cards
Burekup in south west Western Australia is ripe for future property price growth new analysis shows.
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Real estate industry needs to be more vigilant with data
Industry experts have called for more to be done to protect tenants', landlords' and trades' personal and financial information following a recent data breach.
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Contestants, auctioneers and the underbidder say there was no dummy bidding on The Block
The Block auctioneers and the winning contestants have rubbished rumours the underbidder on Oz and Omar’s resort-like House 5 was dummy bidding to push the price of the property up.
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Ray White expands high performance team
In order to increase the profitability and success of Ray White’s businesses, the performance team will continue to concentrate on the fundamental pillars of recruitment, lead generation, stock management, and productivity. The Announcement: Bianca Denham has been promoted at Ray White to become the Head of Performance and Recognition for the leading property group. Ms Denham has been elevated in…
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Mortgage rates nearing APRA’s mortgage serviceability buffer
The sharp rise in the official cash rate has seen mortgage rates pushing up towards the Australia Prudential Regulation Authority’s (APRA) mortgage serviceability buffer.
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LJ Hooker opens a new office in one of Brisbane’s most established suburbs
LJ Hooker has further expanded its network in Brisbane opening a new office in the popular riverside suburb of St Lucia.
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October clearance rates hit a seven-month high
Auction clearance rates bounced to a seven-month high across the combined capitals and volumes have risen as sellers adjust to the new market conditions.
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Highest auction clearance rate since late May
Sydney led the charge as the auction market recorded its strongest preliminary clearance rate since late May, with 1883 properties going under the hammer across the combined capitals.
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Perth most affordable for first home buyers
Perth is the cheapest location in Australia to buy a home with the outer suburbs representing good value for first home buyers according to an expert.
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Scheme helps 1 in 7 first time buyers get foot in the door
With rising inflation and interest rate increases, REIA President Hayden Groves said any initiatives to assist Australians of all ages and geographic regions in achieving house ownership are welcome.
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