INDUSTRY NEWS
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Clearance rate inches higher despite subdued auction market
Auction markets remained subdued this week with just 1610 properties going under the hammer across the combined capitals, resulting in a preliminary clearance rate of 58.6 per cent.
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ANZ tips next rate rise to be 50 basis points
One of Australia’s biggest banks has tipped another 50 basis point cash rate rise in August as the Reserve Bank of Australia moves swiftly to put a lid on rising inflation.
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‘Little respite’ for falling New Zealand property market
New Zealand could be on the cusp of a Global Financial Crisis-like property market downturn with “little respite” for falling house prices in the coming months, according to an industry expert.
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NAB, CBA and ANZ all lift variable home loan and savings rates
The NAB, CBA and ANZ have all passed on the full interest rate hike to variable rate mortgage customers following the Reserve Bank of Australia lifting the cash rate 50 basis points last week.
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Georgia Cleary joins new McGrath office in Paddington as the area makes a resurgence
A new McGrath Estate Agents office has opened in Sydney’s eastern suburb of Paddington, where John McGrath first opened a McGrath office. The Announcement: Leading residential agency McGrath Estate Agents has reaffirmed its commitment to Paddington in Sydney’s Eastern Suburbs as the new office focuses on the area’s resurgence. The suburb’s growth is in line with the popularity of neighbourhood living, as highlighted in the McGrath…
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Interest rate hikes quell commercial property FOMO
The sense of urgency appears to be leaving the commercial property market as first-time buyers exit in the wake of increased interest rates.
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Harcourts West attracts high-flyer
Anthony Christakakis has a passion for the area as seen in his results, selling over 20 million dollars of acreage in total. The Announcement: Anthony Christakakis, who has been 11 years experience in the industry, is starting with Harcourts West. “I decided to join Harcourts because their vision aligned with mine, I could see the want for growth, a great office…
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REINSW 2022 Awards for Excellence finalists announced
The REINSW 2022 Awards for Excellence will resume being held live this year at the Excellence Gala Dinner and will offer 23 categories of awards, covering both agencies and individuals. The Announcement: The Real Estate Institute of New South Wales (REINSW) has announced the finalists for its annual Awards for Excellence. Celebrating its 25th anniversary, the prestigious Awards for Excellence is…
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REIA forms partnership with Managed App
The partnership is a new venture for the Real Estate Institute of Australia and Managed App, with the app is pioneering a digital concept that is shaping the future of the real estate industry. The Announcement: The Real Estate Institute of Australia (REIA) is pleased to announce it has formed a new and exclusive three-year partnership with proptech innovator, Managed…
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The Perth suburbs where houses sell in just 7 days
Perth’s property market is still experiencing a “high level of buyer demand” with a number of suburbs selling in record time.
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Vacancy rates at lowest level on record
National vacancy rates have plummeted to a record low of 1.2 per cent, while rental values have soared 2.9 per cent in the three months to June.
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REIQ concerned about “heavy-handed” changes to rental laws
The Real Estate Institute of Queensland (REIQ) fears investors may "tap out" and sell their rental properties as a result of legislation changes due to take effect from October 1.
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LJ Hooker South Coast offices ready to save a life
Ten LJ Hooker real estate offices on the NSW South Coast have been fitted with lifesaving medical equipment in a bid to reduce the number of Australians that die from the nation’s biggest killer each year - sudden cardiac arrest.
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Local experts take the reins at Ray White North Richmond
Ray White New South Wales CEO Andrew McCulloch says he has no doubt Cindy Cash and Di Tutty will continue to be an asset to the group as the leaders of Ray White North Richmond. The Announcement: Hawkesbury real estate specialists Cindy Cash and Di Tutty have stepped up to lead the high-performing Ray White North Richmond office. Real estate stalwart…
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Stone Real Estate adds new franchise location with Hawkesbury office
Experienced agent Adam Buchert has rebranded his agency to tap into the opportunities, knowledge and expertise of the Stone network.
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Another cash rate hike with more to come
The Reserve Bank of Australia has warned homeowners more interest rate rises will follow as they raised the official cash rate 50 basis points, to 1.35 per cent, at its monthly meeting today.
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Josh Tesolin expands Ray White Quakers Hill
To accommodate the growing team, he has also expanded the office’s footprint by leasing the office next door. The Announcement: TOP principal Josh Tesolin has expanded his Ray White Quakers Hill business with the purchase of a significant rental roll and lease of another office premise. Two years on from opening his first business, Ray White Quakers Hill, Mr Tesolin…
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Knight Frank appoints head of institutional sales in South Australia
Max Frohlich returns to Knight Frank after a three-year hiatus after starting his property career with the agency as a commercial valuer. The Announcement: Knight Frank has appointed a Head of Institutional Sales in South Australia. Max Frohlich will start in the role in July, returning to Knight Frank after a three-year hiatus after starting his property career with the…
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Top agent finds harmony in life balance
Alex Jordan is one of the highest-achieving real estate agents in Queensland and says looking after his health has been crucial to that success.
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It’s a landlord’s market: vacancy rate at record low
Australia’s rental vacancy rate is at the lowest point on record, with the market remaining firmly in landlords' favour according to the latest Domain Vacancy Rate Report.
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Australia’s housing market downturn building momentum
Adelaide is the only capital city still recording monthly property price growth higher than one per cent, with market experts tipping the rate of housing value decline will gain pace and spread further in coming months.
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McGrath expands into regional Qld
Principal Ainsley Driver said the area is not only attractive to the investor market, but to young families who are seeking a more relaxed lifestyle with the amenities of a big city life. The Announcement: McGrath Estate Agents has announced the opening of new offices in Bundaberg and Bargara, giving a clear indication of the company’s desire to further expand…
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High-performing Grafton agent opens Ray White TKG
Ray White New South Wales CEO Andrew McCulloch said Jake Kroehnert’s energy, enthusiasm and determination would make him an asset to the group. The Announcement: Top performing agent Jake Kroehnert has made the leap to Australasia’s largest real estate group, opening Ray White TKG in Grafton. A young gun and top agent in Grafton, Mr Kroehnert has always wanted to…
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Over 90 per cent of experts tip interest rates to rise in July
There’s likely to be more pain ahead for borrowers, with 91 per cent of experts tipping the official cash rate to rise tomorrow, according to a new survey.
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Mining towns back in vogue as yields hit 10 per cent
The resurgence of mining towns is back as investors again look at the potential for high capital growth and high yields.
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Market Buy hires Will Farmer to run its US operation
Market Buy has welcomed a new recruit to lead its American operation as the online offer management company ramps up its rapid expansion into the US.
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Lowest preliminary clearance rate in two years
The preliminary clearance rate has dropped to its lowest level in more than two years after auction volumes further declined this week.
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Home Guarantee Scheme expands to 40,000 places
Property market leaders have welcomed the expansion of the Federal Government’s Home Guarantee Scheme (HGS), but cautioned rising interest rates and inflation remained key issues for first-home buyers.
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OBrien Real Estate announces new office in Melton
The brand is one step closer to reaching its goal of creating a 50-office network in Melbourne. The Announcement: Fresh off an eventful month with the network opening up office number 35 at Ringwood, the OBrien team announce the newest office in Melbourne’s Western suburbs. OBrien Real Estate is one step closer to realising their potential of building a 50-office…
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Rising rates putting pressure on home prices
Brisbane property prices have fallen for the first time since April 2020, with rising interest rates dampening buyers' enthusiasm for purchasing.
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Why you need to future proof your real estate agency
Whether you have been in business for years or are thinking of starting up, managing your agency and building a valuable asset needs a solid legal foundation.
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Why sustainable homes sell faster
When given a choice, two-thirds of home buyers prefer energy-efficient homes according to new research from Domain.
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Michael Pallier selected to sell Melissa Caddick’s Dover Heights home
Michael Pallier, of Sydney Sotheby’s International Realty has been appointed to sell conwoman Melissa Caddick’s Dover Heights property.
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Suite of new appointments for BresicWhitney
Chief Executive Officer Thomas McGlynn said the group’s dedication to designing and delivering fulfilling and rewarding career paths attracts passionate and value-driven talent to the brand. The Announcement: In an increasingly competitive talent market, BresicWhitney welcomes five new team members in June. Leading Sydney property group BresicWhitney has hired Amy Walls as its new Editorial and Media Manager, marking its 19th appointment since the start of…
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Nearly 13 per cent of first home buyers are considering purchasing interstate
With property prices rising faster than buyers can save, one in eight first home buyers have said they are considering purchasing a home in another state to help them get on the property ladder.
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