INDUSTRY NEWS
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NZ property market prices softened in April
The New Zealand property market has recorded a modest fall in April, the first decline since the initial COVID-enforced lockdown in August 2020.
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Perth prices continue to increase in April
The Perth property market has continued to see an uptick in prices since reopening its borders in February.
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Cash rate rises for first time in over a decade
After 17 months of record low interest rates, the Reserve Bank of Australia has today lifted the cash rate 25 basis points to 0.35 per cent while clearly indicating more rate rises are to come.
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Richard Simpson elected new REIV president
The Board of the Real Estate Institute of Victoria (REIV) has elected respected real estate agent Richard Simpson as its president, through to October 2022.
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Vacancy rates remain at record low levels
The national vacancy rate remains at a record low 1 per cent with all capital cities continuing to operate in a “landlords’ market” according to a new report.
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WA the most affordable for first home buyers
Perth has been named the most affordable capital city for first home buyers, with regional Western Australia taking the title of most affordable area in the country, according to a new report.
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Labor looks to cut the cost of a mortgage by up to $380K
The Labor Party has announced its intentions to introduce a new shared-equity housing scheme that could help shave up to $380,000 off the cost of a home.
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Rising CPI suggests more affordability worries ahead
The highest inflation in 30 years suggests housing affordability is going to continue to decline, according to an industry body.
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Home prices stalled in April as rate hikes loom
Property prices stalled nationally last month with values seeing their smallest increase since May 2020 and the onset of the pandemic, according to new data.
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Economists predict rate rises are coming before August
Economists believe the RBA is getting set to hike the official cash rate (OCR) with 84 per cent believing a rise is coming before August.
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Propic acquires Property Realm to create intelligent AI platform to ease stress levels
Australian real estate PropTech innovator, Propic has acquired Property Realm in a move it says will “unapologetically disrupt” the real estate industry.
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Queensland vacancy rates hit record low levels
Vacancy rates across Queensland have dropped dramatically with several areas recording rates under 0.1 per cent.
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Auction clearance rate slips further
The preliminary clearance rate has slipped further this week on the back of increased auction volumes across the combined capitals.
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Record inflation to keep pressure on households
The latest CPI figures shows inflation has risen to 5.1 per cent, putting increased pressure on mortgage holders and households according to experts.
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Three of the big four banks predict a May rate hike
The big four banks continue to bring forward their cash rate rise predictions, with three of the majors now forecasting the official cash rate (OCR) will increase next week, with more hikes “imminent”.
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The AI tech that powers agents across the nation
Artificial intelligence has been the buzzword for a decade and whilst other industries are advanced in its applications, the real estate industry is no longer a laggard as more and more agencies leverage this technology.
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Property boom losing momentum – Sydney price growth ‘flatlining’
The rate of property price growth in Australia has dropped dramatically in the first three months of the year, new data reveals.
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Slowdown arrives for New Zealand’s hot property market
New Zealand’s overheated property market looks to be slowing down thanks to rising interest rates and lower demand according to a new report.
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Propic appoints head of innovation amid record growth
PropTech Artificial Intelligence pioneer Propic has appointed former McGrath Head of Martech Ryan Campbell as Head of Innovation, as it records significant Australian market growth and seeks to push into international markets.
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Victoria most affordable for average income earners
Victoria dominates the list of most affordable properties for buyers on average salaries, according to new research.
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Inside Australia’s home of the year
JW Constructions in Queensland has won the HIA-CSR Australian Home of the Year award for a beautifully designed home that showcases open-plan living at its best.
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Geelong leads pandemic population surge
Geelong saw the largest population increase during the pandemic as homebuyers sought out more space and an escape from the city.
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Sentiment remains high despite softening property prices
Confidence in the real estate market remains high despite slowing growth in property prices, according to a new survey.
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The lowest preliminary clearance rate of the year
Despite the ANZAC Day long weekend, 1813 homes were taken to auction across the combined capital cities this week, resulting in a preliminary clearance rate of 67.6 per cent.
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Rental demand continues to soar as availability falls to lowest level in more than a decade
Near record demand and the lowest level of availability in almost 20 years is propelling a tough rental market, new analysis shows.
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Foreign investment in Australian commercial property doubles
Foreign buyers continue to be active in both buying and selling Australian commercial assets according to a leading expert.
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Perth’s bargain suburbs under $375,000
Despite Perth seeing a strong 12 months of property price growth, it’s still possible to find bargain buys close to the CBD according to REIWA.
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What’s driving the housing markets: HTW
Demand for residential property remains strong, however, the rate of growth is slowing according to the latest Herron Todd White (HTW) Month in Review.
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First Home Guarantee Scheme might not help all first-time buyers
While the First Home Guarantee Scheme has been expanded to help more first home buyers enter the property market, a leading expert believes many purchasers will not be in a position to access the increased financial caps.
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How property can help Australia become prosperous again
The Property Council of Australia is calling on the next Federal Government to adopt a range of property-related initiatives to help the country 'make the most of the 2020s' and return to prosperity.
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How to deliver ‘wow moments’ in a changing market
constraints and weakening consumer sentiment, Exp Australia Director Emily Morgan knows her vendors need more than her knowledge and experience to successfully navigate the current changing market.
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Investor lending reaches record high
Lending to investors has hit a record high level, outpacing the last two property booms.
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East coast kicks off 2022 with $150B worth of property sales
Despite talk of a softening market, Australia’s love affair with real estate continues, with the latest data from PEXA revealing more the $150 billion worth of property on the east coast settled during the first quarter of 2022.
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Confidence in property dips in March
Confidence in Australia's property sector fell slightly in March but remains at historically elevated levels, according to the latest ANZ/Property Council's industry survey.
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Construction costs rise at the fastest rate in 21 years
The cost to construct a new home is rising at the fastest rate since 2001 putting increased pressure on builders, new home buyers and renovators.
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