INDUSTRY NEWS
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Sydney vacancy rate hits 5-year low
The vacancy rate across Sydney has plummeted to a five-year low, putting the city on the verge of a rental crisis, according to the Real Estate Institute of New South Wales (REINSW).
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Renovated Love It or List It home for sale in Oyster Bay
An Oyster Bay home that starred in Season 3 of Love It or List It has hit the market for the first time since undergoing a major renovation on the show under the guidance of interior designer Neale Whitaker.
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Clearance rate and auction volumes drop over Queen’s Birthday long weekend
A long weekend in most states saw auction volumes drop this week, with 1393 auctions taking place across the combined capitals, resulting in a preliminary clearance rate of 58.5 per cent.
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Competition watchdog to examine PEXA
The competition watchdog has confirmed it is looking into claims digital settlement company PEXA has stymied competition in the property settlements market.
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App gets more offers on off-market properties
Launched in Sydney this month, Profound is a marketplace for off-market properties where agents can get access to more offers.
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New listings rebound after a quiet April
The number of new listings across the country continues to rise, jumping 12 per cent across the capital cities compared to last month according to PropTrack.
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CBD office occupancy rates rise as workers return
Office workers are flocking back to CBDs across the nation despite Covid and a rising number of flu cases.
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Homeowners and renters facing record levels of financial stress
Financial stress has reached record levels across Australia as homeowners and renters struggle to keep up with the ever-increasing cost of housing as interest rate rises start to bite.
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Growth across capital cities slowing at
record paceThe annual rate of price growth across Australia's capital cities is slowing at the fastest rate since 1989.
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Buyers and renters continue to struggle with housing affordability
Housing affordability has continued to fall with more pain ahead according to the Real Estate Institute of Australia (REIA).
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Is there a better way to utilise Australia’s 13 million spare bedrooms?
Recently, the Australian Bureau of Statistics (ABS) released its latest Survey of Income and Housing. One interesting piece of analysis looked at the number of spare bedrooms around Australia.
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RBA goes ‘hard’ with interest rate jump
Higher than expected inflation has seen the Reserve Bank of Australia lift the cash rate for the second consecutive month, with today’s 50 basis point increase taking the official interest rate to 0.85 per cent.
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Australia is the 13th strongest property market in the world
A number of Australia’s major cities have featured in the global list of best-performing housing markets over the past 12 months.
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Rents and mortgage repayments to keep rising
Rents and mortgage repayments are expected to continue to rise over the next 12 months, putting more pressure on households already struggling with the high cost of living.
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Lenders have been quick to pass on interest rate hikes
Following the first cash rate hike in over a decade, lenders have been quick to pass on the rate rise to borrowers, with 95 per cent of lenders raising interest rates 0.25 per cent according to Canstar.
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Queensland property market defying the downturn
he Queensland property market is still experiencing 'healthy growth' and is continuing to defy the downturn seen elsewhere, according to the Real Estate Institute of Queensland (REIQ).
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Annual auction volumes declined in May
After a record volume of auctions were held in the first four months of the year, last month saw an annual decline in listings for the first time since February 2021.
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Perth prices rise as the market outperforms Sydney and Melbourne
Home prices across Perth have continued their rise, increasing 0.6 per cent in May according to new data from CoreLogic.
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Barellan Point is Australia’s top family housing market
Barellan Point in regional Queensland has been named the top housing market for families according to new research.
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ANZ revises cash rate prediction on back of strong wages
The ANZ bank has tipped the Reserve Bank of Australia (RBA) will lift the cash rate by 40 basis points at tomorrow’s board meeting on the back of broadening inflation pressures.
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Dubbo Council looking to undertake 3D house printing trial
The Dubbo Regional Council is moving forward with a proposed trial of 3D printed houses to potentially help ease the lack of supply of homes in the region.
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Cash poor Australian households look to downsize
After two years where Australians were scrambling for larger homes, a new survey has found one in eight are now looking to downsize as higher living costs start to bite.
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Unprecedented demand for industrial property pushing up prices
Record demand for industrial space has continued to put upward pressure on rents and property values with the trend expected to continue.
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Widespread fall in New Zealand property prices continues
The downwards momentum in New Zealand residential real estate values continued throughout May with prices falling 0.8 per cent.
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Home prices fell in May as interest rates rose
Home prices across the country fell for the first time since the start of the pandemic just as homeowners saw the first RBA rate rise in over a decade.
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Prices fall in inner-city and expensive suburb micro markets
Micro markets in major capital cities have started to weaken, with prices falling as much as 8.5 per cent in the past three months. The latest CoreLogic Property Pulse showed inner-city and upper-quartile suburbs in Sydney, Melbourne and Canberra have led the price falls with suburbs such as Sydney’s Beaconsfield dropping 8.5 per cent in the past three months. In…
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The highlights from AREC 2022 – Day 2
Just as Day 1 delivered something for everyone, Day 2 at AREC 2022 saw plenty of laughter, a few tears and a host of inspiring takeaways. We were there for all of the action once again and have narrowed down our Day 2 highlights… Mel Robbins The 5 Second Rule In one of the most highly anticipated sessions of the…
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RBA examines the post-pandemic housing market
Property prices have increased, the construction industry is at capacity, and the average Australian household size has fallen throughout the course of the COVID pandemic. But will these trends continue into the foreseeable future?
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The highlights from AREC 2022 – Day 1
More than 4000 real estate professionals packed the Gold Coast Convention and Exhibition Centre yesterday for Day 1 of AREC 2022.
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Preliminary clearance rate rises on the back of auction surge
This week proved the busiest auction week since the pre-Easter spike, with 3229 properties going under the hammer across the combined capitals to record a preliminary clearance rate of 63.7 per cent.
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Demand for Queensland land driving prices higher in growth corridors
A major shortage of land across South East Queensland’s growth corridors has driven up prices for new lots.
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The East Coast’s most affordable and liveable suburbs
Sydney and Melbourne are becoming opportune markets for buyers with a growing list of affordable suburbs according to a new report.
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Australian home ownership rates lowest on record
The proportion of Australians who own their own home continues to sit at record low levels, new data has revealed.
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Auction numbers to bounce back after the Federal Election
Auction volumes are set to rise sharply this weekend following lower volumes last week as a result of the Federal election.
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Innovators join forces: Propps and Agents’Agency strike partnership
PropTech game changer Propps has joined forces with the Agents’Agency to empower the independent real estate network’s agents with its innovative digital offer management system, driving new efficiencies for its people while enhancing the buying and selling process for its customers.
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