INDUSTRY NEWS
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Borrowers “scrambling” to refinance in record numbers
Rapidly rising interest rates and higher living costs are pushing record numbers of borrowers to refinance their home loans.
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Useful real estate links and articles for flood-affected regions
Articles and links, which are designed to assist real estate professionals before, during and after a natural disaster event.
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Financial relief for flood-affected communities
In the wake of this weekend’s widespread flooding across south eastern Australia, the Federal Government and Victorian State Government have announced financial relief is available for flood-affected communities.
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Capital city auction volumes fall 4 per cent
Capital city auction volumes fell 4 per cent this week, with 1742 homes going under the hammer to return a preliminary clearance rate of 61.4 per cent.
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REIQ says public landlord register is unjustified
As the Queensland Government prepares for an upcoming housing summit to address the state’s ongoing supply issue, a suggested public landlord register has been labelled ‘unjustified’ by the Real Estate Institute of Queensland.
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Joe White elected new REIWA President
REIWA has elected Joe White as the institute's new President, after serving two years as Deputy President.
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Richard Matthews Real Estate goes above and beyond in fundraising effort
In the past 14 months, Richard Matthews Real Estate has raised and donated $40,000 to Beyond Blue and $20,000 for Ovarian Cancer Australia.
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Rents hit record highs again as units outpace houses
Rents have hit record highs across the country again, with unit rents rising much faster than houses.
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New Propic AI seeks to generate more leads and save agents time
PropTech innovator, Propic has reinvented its Artificial Intelligence technology, with a trio of revamped products aimed at meeting real estate consumers’ demands for 24/7 service, giving agents more time in their day and generating leads with outbound prospecting.
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New listings 15 per cent below the long-term average
Despite rising interest rates and falling prices, homeowners are not rushing to sell.
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Slower start to spring for new listings but what’s to blame?
The extra public holidays in late September have contributed to a slow start to spring for sellers, with new listings 7.5 per lower than the prior month.
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Laing+Simmons appoints new head of property management
Laing+Simmons has appointed a Head of Property Management for the first time to lead its new in-house property management training program to build property managers’ skills and stop the ‘churn and burn’ typically associated with the industry.
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Little Hinges lands partnership with industry heavyweights, Ray White
Little Hinges have inked a deal with Ray White Surfers Paradise to ensure every new rental property features a virtual tour as part of their property management package.
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Former Bathurst winner Lee Holdsworth transitions to commercial real estate
After winning the Bathurst 1000 in 2021 and starting on the front row in 2022, Supercars veteran Lee Holdsworth is getting ready to step away from racing and take up a new career in commercial real estate.
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Housing market passes ‘peak fear’ phase
Australian property markets have passed their “peak fear” phase and are expected to bottom out in the new year according to an expert.
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Turner Real Estate launches Turner Prestige
All Turner Prestige properties will be part of a smaller, single portfolio managed by dedicated Prestige portfolio manager Sandra Pallis.
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New program to unblock local housing backlog
The NSW Government has announced an $11.5 million Unblocking Homes Program that will help fast-track the delivery of tens of thousands of homes tied up in local council red tape.
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Consumers start to cut spending as rates rise
Rising interest rates and high inflation, are starting to hit the hip pockets of consumers with new data showing people are cutting back on their spending.
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Raine & Horne shores up its reach with the launch of a new Turramurra office
Raine & Horne has added another office to its expanding network on Sydney's North Shore that will be led by Louisa Liu.
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Property Council Chief Executive Ken Morrison to step down
The Property Council of Australia has announced Chief Executive Ken Morrison will leave the organisation in December to pursue other career opportunities after eight years in the role.
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No end in sight for rising construction costs
There’s still no relief in sight for builders with construction costs continuing to rise at a record rate.
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House price falls to continue into 2023: NAB
There’s likely more property price declines ahead with values to continue decreasing in 2023, according to the National Australia Bank.
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Rundown Sydney home in need of $500,000 in repairs hits the market
A rundown Sydney home that needs upward of $500,000 in repairs is attracting plenty of interest from potential buyers.
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Different to offer property management as-a-service
Australian proptech :Different, has announced the launch of an all-in-one property management solution, :Different for Agencies.
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NSW Government announces offer for first home buyers to swap stamp duty for ongoing land tax
From January 2023, eligible first home-buyers in NSW will be able to choose between annual land tax and the upfront stamp duty. The scheme, called First Home Buyer Choice, includes an online calculator that will help buyers compare their options. For properties with a purchase price of between $650,000 and $1.5 million, buyers will have the choice of a smaller…
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Rental stock levels well below five-year average
Rental stock levels are more than 35 per cent below the five-year average and growth in annual rents has broken into double digits for the first time on record, new figures show.
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Further rate rises likely in New Zealand: CoreLogic
Rising inflation in New Zealand will likely mean more interest rate rises ahead according to CoreLogic. CoreLogic NZ Chief Property Economist Kelvin Davidson said the fact that inflation had not yet slowed down and that the Reserve Bank of New Zealand considered the case for a 0.75 per cent rise should indicate further tightening ahead. “The past few weeks have…
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Rising interest rates lead to a surge in refinancing
Homeowners are refinancing their mortgages at record levels as the impact of rising interest rates start to take hold.
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Preliminary clearance hits its highest peak since late May
The preliminary clearance rate has reached its highest point since May after auction volumes increased this week.
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A new-look LJ Hooker Double Bay set to revitalise Sydney’s east
Alon Beran and Aaron Del Monte are passionate about property, business, and their staff – they are committed to nurturing their team to success. The Announcement: One of the most recognised names in Sydney real estate is back with the opening of a dynamic new team at LJ Hooker Double Bay. New principals Alon Beran and Aaron Del Monte are…
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Sydney vacancy rates hit the lowest on record
Sydney's vacancy rate has dropped to a record low of 1.1 per cent, with the number of available rental properties more than halving in the past year.
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Affordability continues to cause problems for first home buyers
The surge in home prices over the past few years continues to make it more difficult for first home buyers to get into the market. Finder’s First Home Buyers Report 2022 has shown that those people currently looking to buy rated affordability as their top factor in selecting a home, followed by access to public transport, proximity to shops, and…
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Perth rental stock hits the lowest level in 12 years
Perth rental volumes continue to plummet, with new data showing the number of available properties has reached a 12-year low.
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2022 brings success for WA’s top agent
Ray White Dalkeith | Claremont principal Vivien Yap has become the first agent internationally to reach Ray White's top performer ranking of Chairman's Elite.
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Sydney’s ‘Rainbow House’ to go under the hammer
One of Sydney’s most recognisable houses, a two-storey Enmore terrace painted in rainbow stripes in support of the 2017 same-sex yes vote, will go to auction on Saturday, October 8.
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