INDUSTRY NEWS
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Fallout from rising rates to be less dramatic than predicted: HTW
Rising interest rates are likely to slow down property markets but the fallout will be far less dramatic than most commentators predict according to the latest Herron Todd White (HTW) Month in Review.
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Ray White appoints Milo Rasinac Network Development Manager
With more than 20 years experience in sales, leadership and business ownership in Melbourne's inner north-western suburbs, Milo Rasinac's knowledge and expertise is sure to add value to Ray White.
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NSW Government announces trial shared equity housing scheme ahead of Budget
Teachers, nurses, police, single parents and older singles will be able to tap into a $780.4 million shared equity scheme to buy a home under a new NSW Government trial.
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Stamp duty putting a huge financial burden on NSW homebuyers
Stamp duty is rising at a faster rate than wages and house prices in NSW, causing homeowners to stay in properties that aren’t suited to their needs.
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NSW Government pledges $20 million to increase women in construction
The NSW Government has announced an investment of $20 million over the next three years to help increase the number of women working in construction-related roles.
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AI digital assistant RiTA scoops two innovation awards
RiTA, the AI digital assistant for real estate agents, has won two innovation awards at the 2022 PropTech Awards.
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Property Council calls for extra supply
The Property Council of Australia has welcomed the NSW Government's strong commitment to help residents achieve home ownership, but has emphasised the critical role of supply measures in the policy mix.
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Auction volumes up, clearance rate still slipping
Auction volumes increased this week, but still the preliminary clearance is lingering at its lowest point in almost a year.
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Tight Perth rental market needs more investors
Perth’s low vacancy rate has left 12 suburbs across the city with just one property available for rent.
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Cash buyers on the rise across New Zealand
Cash buyers who own multiple properties are on the rise across New Zealand according to new data from CoreLogic.
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House prices continue to rise as other dwelling values slow down
Australian house prices recorded another increase over the March quarter, while other dwelling types saw price growth slow down.
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Game-changing scholarship program relaunched
The Laing+Simmons Scholarship Program helps young people get a foot in the door of the busy, competitive, fast-paced real estate industry. The Announcement: After a COVID-enforced two-year hiatus, the Laing+Simmons Scholarship Program is back. The game-changing initiative that gives school-leavers first-hand experience of the day-to-day operation of a busy real estate business is open for applications. Enthusiastic youngsters looking for…
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Raine & Horne Lower North Shore expands into Willoughby
Nationally expanding Raine & Horne continues its NSW growth with the expansion of Raine & Horne Lower North Shore through the launch of Raine & Horne Willoughby The Announcement: Raine & Horne Lower North Shore Director, Mr Stuart Bourne has opened another new office in Willoughby, ramping up the expansion of the Raine & Horne Lower North Shore brand. The launch of Raine &…
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Elders agents to streamline buying and selling with Propps
Leading digital offer management platform Propps has expanded its national agency coverage, welcoming the Elders Real Estate network to the fold.
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NSW to phase out stamp duty and bring in land tax
NSW is set to move forward with plans to phase out stamp duty and introduce a land tax as a part of the upcoming pre-election budget. But real estate industry experts aren’t so sure the plan will benefit homebuyers. According to the Sydney Morning Herald, NSW Premier Dominic Perrottet will look to embark on significant reforms that will allow some…
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Investors divided on the benefits of buyer’s agents
Australian investors are divided about whether or not they would use a buyer’s agent, with many feeling they don’t represent good value for money, according to new research.
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Knight Frank restructures WA office leasing team
KNIGHT FRANK has restructured its West Australian Office Leasing team to support its national growth strategy over the next five years.
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Aussie homes worth a record $10 trillion
The total value of the nation’s residential property increased by $221.2 billion in the March 2022 quarter, bringing the value of Australian real estate to a record-high $10.2 trillion, according to the Australian Bureau of Statistics (ABS).
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Rex checklist helps agencies kick CRM goals
A free checklist from real estate technology experts Rex ensures property professionals can tailor their customer relationship management strategies to hit the ground running in the new financial year.
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Households well-placed to absorb interest rate rises
Despite doom and gloom headlines about rising interest rates and the increased cost of living, data from the Reserve Bank of Australia reveals many Australian mortgage holders are well-placed to absorb further interest rate rises.
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Gavin Rubinstein’s TRG to expand without Ray White branding but still part of the group
Just three years after opening the doors to its Woollahra office, Gavin Rubinstein’s TRG agency is set to expand to Rose Bay - but it won’t be doing it with Ray White Branding.
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Sales of new homes fell in May
The impact of rising interest rates will be compounded by the ongoing increases in the cost of construction and land, forcing up the cost of a new house and land package, according to the HIA.
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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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Industry’s knights in ‘shining’ armour  come together for a special conference  Â
LJ Hooker's Shine Conference aims to 'shine' a light on the great work property managers undertake within the industry.
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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.Â
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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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PRD network bands together to support office devastated by floods
After helping a tenant attend life-saving dialysis treatment during the peak of the Lismore floods, PRD Lismore Principal Robert Horder has won the brand’s John Harvey Award for his outstanding contributions to and leadership in the real estate industry. The Announcement: National real estate brand, PRD has demonstrated its commitment to supporting their offices and staff, after its network banded…
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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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