INDUSTRY NEWS
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Perth property prices hit a record high
Property prices across Perth have finally reached a new record high of $552,128, according to the latest data from CoreLogic.
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Ray White Macdonald Partners expands into East Gosford
The Macdonalds will bring in an operations manager, junior associates and new agents to the East Gosford business as they expand their presence on the Central Coast. The Announcement: After more than 40 years in operation servicing the region’s real estate requirements, the Macdonald family have expanded their leading Point Clare agency into East Gosford on the Central Coast of…
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Demand for property falls in April
Demand for property eased in April with views-per-listings and sales both lower according to new data.
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First home buyer activity falls away in New Zealand
New Zealand's first home buyer activity has continued to decline as higher mortgage costs have started to have an impact according to a new report.
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Stockdale & Leggo announces sale to new owners
Stockdale & Leggo has announced a changing of the guard, with long-time owner Peter Thomas selling the business to son Ben Thomas and chief executive Charlotte Pascoe.
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The Australian suburbs that are primed for price growth
Campbells Creek in regional Victoria could be ripe for property price growth, as one of a number of locations that are set to buck the trend of a cooling market.
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Rate hikes to impact borrow capacity
Rising interest rates could see average home buyers’ borrowing capacity fall by more than $150,000, according to new research.
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Toukley agency signs with Harcourts Australia
A longstanding Toukley real estate office, with years of experience and local real estate knowledge, has rebranded to a Harcourts office.
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How the rate rise affected this week’s auctions
After the first rate rise in over a decade, auction volumes were down this week, with 2039 properties going under the hammer, resulting in a preliminary clearance rate of 64.7 per cent.
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LJ Hooker Box Hill records $51 million in sales in its first month.
The office recorded seven sales in its first week with each transaction ranging between $3.85 million and $3.9 million. The Announcement: It has been a stellar start for LJ Hooker Box Hill – one of the real estate network’s newest offices – with a staggering $51 million worth of property sales and exchanges recorded in its first month of operation. …
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Homely announces strategic partnership with National Property Group
Homely.com.au continues to redefine the way people buy, sell, rent and list property, with the integration of comprehensive property data for agents and consumers.
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Victorian Budget missed an opportunity on property tax reform
The Victorian Government has missed an opportunity to tackled property tax reform, according to a leading industry body.
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AREC Accelerate theme a winner
The Australasian Real Estate Conference (AREC), now in its 24th year, will draw upon 33 speakers from overseas and around Australia in an intensive program for residential sales and property management.
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Merger for three Belle Property Inner West offices
Principal Simon Furnari said the merger would cement the brand’s presence in the Inner West market, and pave the way for further expansion opportunities. The Announcement: Belle Property today announced the merger of three of its Inner Western Sydney offices, with Belle Property Concord joining forces with Belle Property Strathfield and Belle Property Homebush. Principal of Belle Property’s Strathfield and…
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Ray White projects division expands to meet rapid growth in Western Sydney
The end-to-end service will combine sales and marketing and use social and digital media to engage buyers. The Announcement: No market in Australia is undergoing the profound growth witnessed in Western Sydney today. With the population expected to grow by 1 million, or 46 per cent, over the next two decades, Western Sydney is one of the fastest-growing regions in…
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McGrath smashes the billion-dollar barrier in Sydney’s Greater West
The McGrath West offices reached the $1 billion milestone ahead of its June 30 target. The Announcement: McGrath West I North West I Hawkesbury Group has surpassed $1 billion in sales in its first 10 months since consolidating under the leadership of Group Principal, Kon Stathopoulos. The milestone was reached with the sale of 21 Arnett Street in Pendle Hill…
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Homeowners should expect more rate rises
Homeowners should be prepared for a series of rate hikes with experts tipping the official cash rate could rise to 2.6 per cent.
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Robust Queensland market to shake off rate rise
The Queensland property market is well positioned to handle this week's cash rate increase from the RBA according to the Real Estate Institute of Queensland (REIQ).
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New home lending remained strong in first quarter of 2022
Loans for the construction or purchase of new homes fell by 3.4 per cent in the first three months of 2022, compared to the previous quarter.
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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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RE/MAX adds diamond event to foster collaboration among network’s elite performers
Alex Jordan, Adrian Oddi and Chelsea Pottenger all spoke at the event offering their unique insights. The Announcement: RE/MAX Australia held its inaugural Diamond Event at the Calile Hotel, Fortitude Valley, on 21st April, with invitations extended exclusively to the network’s 24 Diamond, seven Double Diamond and sole Triple Diamond achievers. Managing Director, Joel Davoren, said he introduced the event to…
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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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Hockingstuart launches new property development division
Raymond F de Weerd and Marc Raiti are thrilled to be partnering with well-known brand Hockingstuart and are excited about the opportunities the union presents. The Announcement: Victorian real estate group, Hockingstuart has announced its move into the property development space with the launch of Hockingstuart Land | Projects. The new division will be led by industry stalwarts, Raymond F…
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REIWA 2022 Awards for Excellence winners announced
The Kevin Sullivan Memorial Award was bestowed on Neville Pozzi for his outstanding contribution to the Western Australia real estate industry over the past 45 years. The Announcement: More than 400 Western Australian real estate professionals gathered for the Real Estate Institute of Western Australia’s 2022 Awards for Excellence at Crown Perth on Thursday 28 April. REIWA Chief Executive Officer…
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