INDUSTRY NEWS
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One in four NSW and QLD residents not insured for extreme weather
New data suggests 22 per cent of New South Wales and Queensland residents are uninsured against extreme weather events such as floods, bushfires, or storms.
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‘Uncertainty’ remains in national office markets: HTW
Despite Covid restrictions slowly easing around the country, it will take some time before businesses and employees return to the CBD amid ongoing “uncertainty” according to the latest Herron Todd White Month in Review.
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HSBC buys virtual real estate in the metaverse
Leading international bank HSBC has purchased virtual land in The Sandbox metaverse, joining more than 200 companies that have taken up virtual real estate. The groundbreaking partnership between The Sandbox and HSBC will see the financial services provider acquire land and virtual real estate, which will be developed to engage and connect with sports, esports and gaming enthusiasts. The partnership…
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Australia entering a GFC-style rental crisis
Australia is on the cusp of a GFC-style rental crisis with more pain ahead for renters according to a leading expert.
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REIWA calls for targeted stamp duty reform
REIWA is calling on the WA Government to introduce stamp duty reforms to help first home buyers and seniors, off-the-plan properties and small businesses.
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Bridging loan FinTech Bridgit raises $7.7 million
Non-bank lender Bridgit has secured $7.7 million in its latest funding round as the FinTech company looks to expand its bridging loan product.
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Rising property prices, low interest rates lead to record housing debt
Housing debt levels have hit a record high on the back of soaring property prices new data reveals.
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Auction volumes top the 3000 mark
Auction volumes have again surpassed the 3000 mark, making this weekend the second busiest of the year so far.
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Meriton and MRI Software partner in built-for-rent project
Australia’s biggest residential apartment developer, Meriton, has chosen MRI Software to take the management and maintenance of 9000 built-for-rent Meriton apartments across NSW and QLD online as part of a new three-year contract with the global real estate software leader.
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Australian residential property value nears $10 trillion
The total value of Australia’s 10.8 million residential properties has increased at record pace to nearly $10 trillion ($9901.6 billion) according to new data.
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How agencies are coping with losing management fees from flood-affected homes
Real estate agencies in flood-ravaged Northern NSW have urged others to set aside some profits every month, with their ‘rainy day’ disaster funds now coming in handy.
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Investors driving rising markets on Herron Todd White property clock
Soaring Sydney property prices in 2021 “overshadowed” another key market trend of rising rental rates, according to the latest Herron Todd White (HTW) Month in Review.
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House prices grew at the fastest rate in 20 years
National house prices grew at 25.1 per cent in 2021, making it the fastest annual growth rate in 20 years, according to new data.
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Reapit set to expand portfolio with acquisition of Console
Cloud-based property software provider Reapit, backed by private equity firm Accel-KKR (AKKR), has announced the acquisition of Console.
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Successive rate rises the biggest risk for homeowners
Successive interest rate increases from the RBA when they begin their tightening cycle could be the biggest issue for homeowners according to a leading expert.
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Australian house prices grow at the fastest rate in the world
Australia has taken top spot as the country with the highest rate of annual price growth in 2021.
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Property boom hasn’t helped owner-occupiers
Despite property prices rising at a rapid rate in the past two years, a leading economist said the house price boom hasn’t necessarily been a good thing for all owner-occupiers.
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Sherrie Storor: One size doesn’t fit all
Agents looking to build their profile, convert more appraisals to listings, grow their team and streamline their business processes and strategies have a wealth of knowledge waiting for them in an array of workshops from one of the real estate industry’s top coaches.
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The Australian suburbs facing a rental crisis
South Australia, NSW, and Tasmania contain the most suburbs desperate for more rental stock with many locations now seeing zero per cent vacancy rates, according to new research.
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Looking after the welfare of his team: David Gray, Elders Lismore
When floodwaters swept through Lismore and much of the Northern Rivers, David Gray’s thoughts turned to his community, but as the principal of multiple offices, his priority was the welfare of his team.
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More Aussies intend to buy a home
A boost in home-buying intentions and increased spending on transport post lockdown are behind an increase in the CommBank Household Spending Intentions (HSI) index.
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Auction volumes down by almost a third
Auction volumes have dropped by almost a third this week, but it is not recent flooding in Queensland and New South Wales that is the culprit but rather long weekends in four capitals.
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Perth’s median property price grows $325,000 in 20 years
The Perth property market has grown steadily over the last two decades with the median house price increasing by $325,000 in 20 years.
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Propps and First National partner up to streamline buying and selling
Proptech innovator Propps and the 350+ office First National network have joined forces to make the Propps digital offer management platform available to First National agents and their customers everywhere, streamlining the property transaction process for everyone.
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NAB cuts its variable home loan interest rate
Tight competition between the big four banks has seen NAB cut its variable home loan interest rate by 0.1 per cent to 2.19 per cent, although the change is only for new owner-occupiers.
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Helping Indigenous tenants achieve a successful tenancy
The implementation of local Indigenous staff and creating connections with health and community services can help indigenous Australians have more successful tenancies, new research has found.
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The ‘mass devastation’ in Lismore revealed
In Lismore, Ray White’s office was among the businesses inundated with flood water, but principal Neil Scott’s focus isn’t on the personal impact. His thoughts are firmly with his community. Video courtesy of Ray White. Widely considered ground zero of the recent flood event, Lismore endured unprecedented levels of flooding throughout the township. In a video from the front of…
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Housing affordability stretching homeowners to the limit
It’s tougher than ever to afford a home with new data showing the proportion of income needed to pay off a mortgage has risen to 37 per cent.
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Place Estate Agents open around the clock with Propic AI
Queensland's Place Estate Agents has joined forces with Australian real estate PropTech innovator, Propic, to use its Artificial Intelligence (AI) technology to respond to sales and rental inquiries in the hot Brisbane market 24/7.
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Listings surge in busiest start to the year in almost a decade
Listing volumes across the country have surged, providing buyers relief from previously tight stock levels.
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Housing affordability stress ahead of the federal election
A social housing campaign group has called on the Federal Government to tackle Australia's growing affordable housing crisis, with a poll in the swing seat of Longman showing almost two-thirds of residents believe affording to buy or rent is excessively difficult.
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Saving a tenant’s life is all in a day’s work
When PRD Northern Rivers Principal Rob Horder got up on Sunday, February 27, he never imagined he’d finish the day with his office underwater.
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Nerida Conisbee: Challenges ahead but market will recover from floods
The threat of natural disasters is unlikely to change the locations where Australians want to live, with Ray White’s chief economist highlighting the bush and the coast would remain desirable.
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Sydney’s best performing suburbs doubled in value in 2021
Sydney house prices saw record gains in 2021 with certain suburbs doubling in value in 12 months according to new research.
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Call for property owners to release rental properties to help flood victims
REIQ and Q Shelter are urgently calling on Queensland property owners to turn their holiday rentals and vacant properties into long term rentals to help homeless flood victims.
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