INDUSTRY NEWS
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Hope for NZ home buyers as housing affordability reaches a “turning point”
Housing affordability across New Zealand has reached a “turning point” as falling house prices and growing wages start to benefit buyers.
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The Agency delivers double digit growth in FY22
A significant increase in the number of properties sold and gross commission income achieved has underpinned The Agency posting revenue of $72.7 million in the 2021-2022 financial year.
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Retail property still trying to recover: HTW
The retail sector has had a difficult few years and now faces the headwinds of high inflation according to the latest Herron Todd White (HTW) Month in Review.
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Vacant land sales activity continues to slow down: HTW
Vacant land sales continue to slow down across the country following a period of record high demand according to the latest Herron Todd White (HTW) Month in Review.
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Balanced approach builds healthy outcomes
Switching off after hours in a demanding profession like real estate can be tough.
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Current US housing downturn not like pre-GFC
The current downturn in the US housing market might not be as severe as the 2007-2008 crash that led to the Global Financial Crisis.
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TRG names a new director for the Woollahra office
Another new face is walking the floors at The Rubinstein Group, with Eastern Suburbs specialist Mark Lowe named as director of the group’s Woollahra office.
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Is now a good time to buy a property?
Despite falling home prices and the prospect of a higher cash rate, now might still be the right time to buy, according to an expert.
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The fastest-selling suburbs across the country
Camden, in Sydney's southwest, is the nation's fastest-selling suburb, with three-bedroom houses snapped up after an average 14 days on market.
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Australian innovator branches out in US
Australian real estate office outsourcing specialist Property Management Virtual Assistant is expanding its operations into the United States.
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Mortgage anxiety looming for Aussie homeowners
Australian homeowners are hurtling towards mortgage anxiety, with new research revealing more than 75 per cent of people were unsure how cash rate increases would impact their household budget. The data, from financial services group Aussie, shows 28 per cent of Australian mortgage holders did not consider the cash rate would increase at all when they budgeted for their home…
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Real estate developer builds voice-activated homes in Ghana
A real estate developer in Ghana has taken on the task of building a community of futuristic homes to help enhance the local neighbourhood.
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Property upswings trump downturns over the past 30 years
Upswings in Australian property have been larger and longer than the subsequent downturns where prices slightly decline or just flatline according to new research.
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One in five ACT landlords plan to sell if rental changes come in
Proposed changes to the Residential Tenancies Act in the ACT could lead to one in five investors selling their rental property.
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China crisis wipes out $90 billion from developers
Chinese property developers have seen the value of their stocks fall by US$90 billion as the China crisis worsens.
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Rent.com.au launches single-tap build-to-rent search functionality
Build-to-rent is set to revolutionise renting in Australia and Rent.com.au is the first portal to build a single-tap search filter to help renters locate and apply for the new developments.
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Offshore apartment buyers are on their way back
It has been a slow few years for offshore buyer activity in Australia.
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WeWork founder looking to take on housing availability
Founder of shared office space provider, WeWork, Adam Neumann is looking to take on the issue of housing affordability in the US with a new startup.
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Home builders to weather the interest rate storm
Home builders are well positioned to handle higher interest rates, believing the events of the past two years have been more difficult to contend with.
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The value of new loans fell 4.4 per cent in June
The value of new home loans across Australia has fallen 4.4 per cent last month, continuing to soften from the peak of $33.2 billion in January.
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Preliminary clearance rate holds above 60 per cent
The preliminary clearance rate has held above 60 per cent for the second consecutive week, despite an uptick in the volume of auctions.
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TRG names new Commercial Director as the group embraces expansion
Within two months of announcing its plans for expansion, The Rubinstein Group has named Jake Fahd as the director of its new commercial division.
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John Minns reinstated as NSW Property Services Commissioner
In a surprise move from the NSW Government, John Minns has been reinstated as Property Services Commissioner just weeks after it announced he would be replaced with an independent statutory Property Services Commissioner.
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Regional prestige lifestyle areas the first to show weakness
Rampant house price growth in regional lifestyle areas, previously fuelled by Covid lockdowns, has started to turn, with the prestige market falling first.
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The areas where property price growth is still occurring
Despite property values starting to fall in the larger capital cities, there are still multiple locations around the country that are likely to still see price growth according to an expert.
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Cold, unhealthy rental homes don’t meet international standards
Australian renters are being forced to live in cold, unhealthy homes that aren’t meeting international standards on indoor temperatures according to a new report.
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Profitable resales start to fall across New Zealand
Profitable resales across New Zealand have started to fall as interest rates rise and a surge in listings weighs on the property market.
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AI digital assistant RiTA now integrates with PropTech Group’s Eagle CRM
PropTech Group's Eagle CRM is the newest addition to the list of CRM's digital assistant RiTA plugs into. The integration allows real estate agencies using Eagle CRM to generate more leads from their CRM and clean their data through the power of Artificial intelligence (Ai) and automation.
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Domain records strong financial year results
Significant growth in Domain’s residential online business, including a 9 per cent jump in listings, has underpinned the group posting revenue of $357 million for the 2021-2022 financial year.
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Crypto king buys Toorak ghost mansion for $80 million
A mysterious crypto king has splurged a stunning $80 million on an unfinished Toorak mansion, setting a state record in the process.
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145,000 homeowners would consider selling if rates rise
Over half a million Australian households would struggle to pay their mortgage, with many forced to sell, if interest rates rose three per cent according to a new survey.
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Big banks pass on the full 0.5 per cent rate hike
Three of the big four banks have passed on the Reserve Bank of Australia's full August interest rate rise of 0.5 per cent.
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Nerida Conisbee: Why mortgagee sales are rising
Cost of living pressures and mortgage stress has seen the number of mortgagee sales increase according to new data.
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Free real estate job search website launched
Entry Education has broken new ground with the creation of an innovative job search website designed by property professionals for property professionals.
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Top locations for investors with a $100k deposit
Outer city and regional areas are providing the best value for investors with a $100,000 deposit according to new research.
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