INDUSTRY NEWS
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New home loan values fall as interest rates rise
Rising interest rates are seeing homebuyers less willing to borrow, while at the same time house hunters are seeing their borrowing capacity slashed.
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New Zealand property prices fall at fastest pace since the GFC
Property prices across New Zealand have continued to fall, with the rate of decline now at the same level as seen during the Global Financial Crisis.
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Lenders pricing for risk with rate discounts
Lenders are rewarding borrowers with lower Loan to Value Ratios (LVRs) by offering reduced interest rates.
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Another rate hike to curb the highest inflation in three decades
The official cash rate is now 1.85 per cent after the Reserve Bank of Australia opted to raise interest rates a further 50 basis points at its monthly meeting today. The increase marks the fourth consecutive month of interest rate hikes as the RBA seeks to moderate inflation that is now the highest it has been since the early 1990s.…
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McGrath expands in Sydney’s north west
McGrath Estate Agents has announced its expansion across the Ryde local market in Sydney’s north-west.
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South Australian property continues to buck the trend
The South Australian property market continues to show “resilience”, extending its record-breaking run of quarterly price increases.
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Don’t let FOMO ruin your home time
How many times have you said: “I wish I could turn off the phone after hours but just can’t risk it”?
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Ray White opens in Sydney’s Ashfield
Real estate experts and brothers Michael and Andrew Simpson have partnered their third generation family business with Australia's largest real estate agency, Ray White.
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Renters being forced to give up pets to find a home
Renters are being forced to choose between keeping their pets and being able to find a place to live, with hundreds giving up their pets each year.
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Another big name signs on to use Propic AI technology
One of Australia’s best real estate agents, Vivien Yap, will introduce Propic Artificial Intelligence technology to meet her clients’ expectations for 24/7 customer service.
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ANZ cuts new customer variable rates by up to 0.50 per cent
Despite the Reserve Bank of Australia hiking the official cash rate and fixed rate loans rising, ANZ has come out and cut new customer variable rates by up to 0.50 per cent.
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WA investors to sell up if tenancy laws change
More than half of WA property investors would consider selling their rental properties should significant changes be made to WA tenancy laws.
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Third week of increasing auction volumes
Auction activity has risen for the third consecutive week, with 1909 properties taken to auction across the major capitals to return a preliminary clearance rate of 58.8 per cent.
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Luke Banitsiotis claims his third REIV Senior Auctioneer of the Year title
REIV has crowned Luke Banitsiotis as Senior Auctioneer of the Year third time running.
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Units outperform houses as buyers hunt for value
Buyers are on the lookout for more affordable housing options as rising interest rates make units more appealing.
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RBA a “near certainty” to raise rates next week
Australia’s hottest rate of inflation in 21 years means the Reserve Bank of Australia is a “near certainty” to hike the official cash rate 0.5 per cent on Tuesday, according to experts.
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REIA says perspective required in interpreting CPI
The RBA's July meeting indicates that inflation is expected to peak later in 2022 and then decline back towards the 2 to 3 per cent range in 2023.
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Home prices to fall 5 per cent by end of the year
Rising interest rates could see property prices drop by up to 5 per cent between now and the end of the year, according to a new report.
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Regional property price boom is not done yet
Regional cities like Albury-Wodonga, Tamworth and Bundaberg could continue to experience price growth despite the national property downturn.
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Local team reopen Ray White Chelsea
The Ray White Chelsea office closed late last year, but Ray White’s strong reputation in the area is what attracted Mr O’Sughrue and Mr Aldinger to reopen the business. The Announcement: Living and raising their families in the Chelsea area, real estate experts Shane O’Sughrue and James Aldinger are using their expertise to reopen Ray White Chelsea. The group’s Chelsea…
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REIQ delivers $70K worth of flood support
The Real Estate Institute of Queensland also spearheaded a flood support auction on behalf of inCommunity and Beddown, which was supported with great prizes and money from sponsors. The Announcement: Member agents, partners, and sponsors of the Real Estate Institute of Queensland (REIQ) are proud to have delivered more than $70,000 worth of support in response to the February flood…
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Going once, twice and 5000 times: Successful auctioneer marks an exciting milestone
Real estate veteran Paul Moore has just celebrated his 5000th auction for the LJ Hooker Group – and remarkably can recall every single sale thanks to keeping a detailed journal.
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New Zealand property prices face a test as interest rates rise and sales volumes fall
The New Zealand property market is going to face a “test” as rising interest rates and a wave of refinancing jolt the market in the next 12 months.
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One in five first home buyers take a year to buy a property
Tight supply and rapidly rising prices has seen many first home buyers taking over two years to purchase a property.
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Westpac and NAB predict two more 50bps rate hikes
Borrowers should brace themselves for “more rate pain”, as Westpac and NAB follow ANZ predicting the Reserve Bank of Australia will lift the official cash rate higher and faster than previously expected.
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The slowdown we had to have?
Australia's median house price increased by 32 per cent from March 2020 to December 2021, making it the fastest period of price growth we have ever experienced.
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When ‘psychology of the sale’ takes on an all-new meaning
Melisha Du Preez credits her certainty in joining the Mackay RE/MAX team to her many years in the psychology.
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The three buckets you need to fill for success
Leading a successful real estate office requires energy as well as business acumen and Phill Broom ensures he is ready for the busy day ahead with his morning exercise workout.
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What kind of property will $700,000 buy you?
After two years of record price growth, there are still opportunities to find good value properties for under $700,000 around the country, according to the latest Herron Todd White (HTW) Month in Review.
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New Belle Property office for the NSW Southern Highlands
Belle Property has announced the opening of its latest new office in the picturesque New South Wales Southern Highlands, helmed by well-known local real estate expert, Debbie Pearce.
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Housing data reveals Sydney faces undersupply
A recent Sydney housing analysis from the Property Council of Australia and Gyde Consulting has found several districts of Sydney are struggling to deliver enough housing, adding concern to Australia's housing affordability crisis.
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Queensland rental market feeling the ‘squeeze’ of tight vacancy rates
Incredibly tight rental conditions are continuing to ‘squeeze’ renters across Queensland, with many areas still experiencing vacancy rates below 1 per cent.
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Further increases in the cash rate will be needed: RBA
The official cash rate is still lower than it needs to be, according to the Reserve Bank of Australia, who maintain households are well-positioned for higher borrowing costs.
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Auction activity increases for second consecutive week
Auction activity has risen for the second consecutive week, with 1818 homes going under the hammer across the combined capital cities this week, resulting in a preliminary clearance rate of 56.1 per cent.
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Chinese property buyers to return to Australia
Chinese property buyers are likely to head back to Australia sooner than expected as Australia emerges from COVID stronger than many other countries, according to an expert.
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