INDUSTRY NEWS
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How property aids Australia’s pandemic recovery
Regional property prices grew at a higher rate than Australia’s combined capital cities in 2021, helping underpin the country’s economic recovery from the pandemic, new analysis reveals.
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First Home Loan Deposit Scheme issues more than 4600 new guarantees
Aspiring first home buyers are being urged to secure their place in the First Home Loan Deposit Scheme (FHLDS) before Christmas, with the release of more than 4600 new guarantees.
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Australia makes Top 5 of Knight Frank Global Price Index
Australia has moved into the Top 5 countries for house price growth for the first time in six years with almost 20 per cent annual growth for the year to September.
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Canstar report reveals some Aussies expect property prices to ‘skyrocket’
Despite property prices soaring more than 20 per cent this year, 18 per cent of Australians expect prices to “skyrocket” further at some point in the next two years, according to new research. Canstar’s fifth annual Consumer Pulse Report also showed 44 per cent of Aussies expect house prices to continue to grow at a steady pace, while 12 per…
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The neighbourhood that’s going to get 100 3D-printed homes
One of America’s leading homebuilders is joining forces with a construction technologies firm to build the country’s largest community of 3D-printed homes in Texas. Lennar and ICON are breaking new ground with the development of the 100-strong community, codesigned by the acclaimed architecture firm, BIG-Bjarke Ingels Group, using ICON’s innovating robotics, software, and advanced materials. ICON’s 3D printing technology produces…
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Australia’s most popular investment location revealed
Remote and borderless investing has been supercharged by COVID-19, with new data revealing property investors have doubled the distance between where they live and why they invest, in response to the pandemic. Managing Director of MCG Quantity Surveyors Mike Mortlock said the latest Property vs. Postal survey revealed a picture of changing investor buying habits. The numbers showed the average…
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A record-breaking year and trends to watch in 2022
Australia has smashed property records in 2021, racking up the highest number of sales and fastest rate of annual house price growth on record, according to new research. Domain’s End of Year Wrap shows that 446,800 houses and 144,500 units sold this year, with the combined capital city house price quickly closing in on the magic $1 million mark. It’s…
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Listings soar as sellers get moving before Christmas
Property listings are skyrocketing in the lead up to Christmas, with November numbers surging to multi-year highs. REA Group’s PropTrack Listings Report for December showed sellers scrambling to make up for lost time, despite November typically being a little seasonally slower than October. PropTrack Economist and report author, Angus Moore, said property market activity continued to soar in November as…
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Report tips Sydney’s top performers for 2022
Rydalmere is tipped to be among Sydney’s best performers in 2022, according to a recent report which has crunched the numbers and looked at growth indicators for more than 600 Sydney suburbs. According to the Shore Financial State of Sydney Report, the suburb, which is next to Parramatta in Sydney’s west, could enjoy price growth of 17.4 per cent in…
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Australian families spend 36 per cent of their income on their mortgage
Housing affordability continued its decline in the September quarter with hard-hit first-home buyers pulling out of the market, the latest Real Estate Institute of Australia (REIA) analysis shows. The REIA’s Housing Affordability Report found 36.2 per cent of owner-occupiers’ income went to paying their mortgage, which is a 3.9 percentage point rise over the past year. The national median weekly…
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NZ property market set to shift in 2022
A switch to a ‘buyer’s market’ is on the cards for New Zealand during the second half of 2022, according to CoreLogic’s latest Market Pulse. But buyers might have to work a little harder to secure finance, according to CoreLogic NZ Chief Property Economist Kelvin Davidson. “For some time now, the tight supply of listings on the market, set up…
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Australian homes are now valued at more than $9.2 trillion
Australian residential property prices have recorded their strongest annual growth in 18 years, and are now valued at more than $9 trillion, according to new data. The Australian Bureau of Statistics has released its Residential Property Price Indexes: Eight Capital Cities report for the September quarter and it shows the total value of the nation’s 10.7 million residential dwelling jumped…
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REIWA’s 2022 predictions for Perth’s housing market
Perth house prices will rise a further 10 per cent in 2022, according to REIWA’s latest figures, which show Western Australia’s strong property market is set to continue. The prediction comes off the back of a strong 2021 that saw Perth’s property prices rise by 14 per cent. REIWA President Damian Collins said despite the strong price growth recorded in…
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RBA keeps cash rate on hold with Omicron a new source of uncertainty
At its final meeting for 2021, the Reserve Bank of Australia has opted to keep the official cash rate at its historic low of 0.1 per cent, with a new Covid variant causing some market uncertainty. In his monthly statement today, RBA Governor Dr Philip Lowe said the Australian economy was recovering well from the setback the Delta outbreak caused,…
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Vacancy rates hit multi-year low in ‘landlord’s market’
It’s a landlord’s market, according to Domain’s latest Vacancy Rate Report, which showed the national rental vacancy rate at a multi-year low for the second consecutive month. November recorded national vacancy rates of 1.5 per cent, and showed rental prices were expected to increase with the opening of international borders bringing in a wave of new renters, according to the…
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Will house prices double by 2032?
It’s often claimed that house prices double every 10 years, which is a good thing for investors, but would pose a significant challenge when it comes to housing affordability over the next decade – particularly given how much prices have risen since the start of the pandemic. But is it true? According to Ray White Group Chief Economist Nerida Conisbee‘s…
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Why your contractor could be putting your business at risk
While many high performing sales agents prefer to be hired as contractors, rather than employees, the vast majority of contractor agreements leave agencies open to liability, should the relationship end.
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Hot property market cools as gap between buyers and sellers narrows
Price growth in Australia’s scorching property market has peaked and the first signs of a shift from an extreme sellers’ market to one that is more balanced have appeared, new data shows. The latest PropTrack Housing Market Indicators Report shows that while there are still a throng of active buyers in the market, for the first time since the pandemic…
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Alexander brothers become the first luxury brokers of the metaverse
You might not be able to touch it or even live in it, but the metaverse is gaining real life momentum, with Douglas Elliman’s Oren and Tal Alexander set to become the first luxury brokers of the virtual real estate world.
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The most rundown homes to sell for millions in 2021
You know the property market is hot when uninhabitable homes are selling for multi-million-dollar price tags. Peeling paint, mouldy walls and water damaged ceilings have been just some of the features found in rundown homes that have sent buyers into a frenzy across the country this year. Popular with developers as well as renovators, buyers have snapped up dilapidated homes…
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How Australia’s borders reopening will impact renters
Australian renters can expect to be hit with dramatic price rises as the nation’s borders reopen, according to experts. In this month’s Finder RBA Cash Rate Survey, 37 experts and economists weighed in on future cash rate moves and other issues relating to the economy, with 73 per cent predicting rental prices will rise sharply as Australia opens its international…
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More than meets the eye: Transform XII finalists revealed
The finalists in Elite Agent’s Transform XII have been announced, with the Top 12 covering the gamut of sales and property management and boutique agencies as well as large networks. Similarly, the Top 12 are made up of business owners and team members, as well as having varying degrees of industry experience. The finalists, in no particular order are: Mel…
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Clearance rate slips below 70 per cent as volume continues to surge
Auction volumes couldn’t quite equal the record highs of last week, but still this week proved the second busiest auction week ever, with 4136 properties going under the hammer across the major capitals.
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No summer slowdown for auctions
As the property market gears up for another Super Saturday of auctions, data indicates November proved the busiest auction month on record
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The capital city predicted to record the strongest growth in 2022
Capital city property prices will continue to rise in 2022, peaking in the first half, then slowing sharply from the middle of the year, new data suggests.
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Last Big Four bank lifts its interest rate
The National Australian Bank has become the last of the major lenders to lift its fixed rate loans, closing the door on big four rates under 2 per cent.
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Investors back in the market but owner-occupier lending falls
New investor loan commitments rose for the 12th consecutive month in October, while lending to owner-occupiers dropped by more than $800 million, according to new data.
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Brisbane’s Matt Lancashire named Queensland’s highest selling agent
A combination of property and real estate IQ, effective processes, and a solid focus on vendors is the secret to success for Matt Lancashire, who has topped a list of Queensland’s top selling real estate agents for 2021. The Ray White New Farm principal placed ahead of McGrath Paddington’s Alex Jordan, the Gold Coast’s Michael Kollosche, the Managing Director of Kollosche,…
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Pearl Beach property bought for 78 pounds sells for $2.5 million
An unassuming home bought for just 78 pounds almost 100 years ago has just sold for $2.5 million at Pearl Beach on the NSW Central Coast. It’s the first time the four-bedroom home had been offered to the market since the original owner, Evelyn Smith, bought the land in 1928. Then part of the new Staples Estate, the 675sq m…
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Sydney apartments set to make a comeback
Sydney apartments are set to be back in favour come the new year, according to Sydney agent Adrian Wilson.
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How COVID-19 changed the way Victorians work, live, and play
Times have well and truly changed, and as a result, so have the wants and needs of Australians – including how and where they want to live. The pandemic has changed our collective priorities, and that’s reflected in PwC’s latest CityPulse 2021, which examines the liveability of Victorian suburbs. PwC Australia Melbourne Managing Partner Peter Konidaris said CityPulse 2021 unearthed…
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Perth property market gears up a notch
Perth has enjoyed its fourth consecutive month of increased sales activity, with a 9 per cent rise in volume during November, while price growth is also keeping pace.
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REIV appoints new CEO, as Gil King’s tenure comes to an end
The Real Estate Institute of Victoria (REIV) today announced that Quentin Kilian will succeed Gil King as the organisation's CEO from mid-February 2022.
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New program teaches young people the ABC of property investing
A real estate workshop that aims to remove the fear and uncertainty associated with stepping onto the property ladder has launched in Burpengary, Queensland. RE/MAX Living Principal Kathy Sweeney and team members Chanae Roma, Melanie Wilks and William Sweeney have started Asset Building Club (ABC), a workshop where young people, aged 18 to 30, can gain valuable insight into what…
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New Zealand’s momentum slowing
New Zealand property prices have continued to increase nationally in November, but have slowed compared to October, according to the latest data from CoreLogic NZ.
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