INDUSTRY NEWS
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Virtual land a hot commodity in the metaverse
Another block of virtual land has sold for an eye-watering amount, with a digital investor paying $4.3 million for an allotment in The Sandbox metaverse.
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Key number indicates a busy 2022 for real estate
The real estate industry could be in for a busy New Year, with Domain reporting increased appraisal volumes across the country as sellers ponder the prospect of taking their property to market in 2022.
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Rexlabs appoints new product managers
The real estate tech experts at Rexlabs have welcomed two new Product Managers into the fold.
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New research reveals Australia’s top family suburbs
New South Wales suburbs have dominated the top five spots in a new list of Australia’s best family housing markets. The research, commission by Well Home Loans, identifies the top 20 suburbs for families, with the NSW suburb of Horningsea Park coming out on top. Doug Vukojcic, property adviser for United Agents Property Group at Carnes Hill said the result…
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How property settlement period blowouts are impacting agency cash flow
If you’re an agent, you’ll know that the current tight market conditions have meant that settlement periods are expected to blow out, with some even extending far into next year.
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Real estate agencies among Australia’s most loved local businesses
Podium, the leading communication and payments platform for local businesses, has today announced the winners of Australia’s Most Loved Local Businesses, alongside COSBOA, the Council of Small Businesses Organisations of Australia. Podium, the leading communication and payments platform for local businesses, has today announced the winners of Australia’s Most Loved Local Businesses, alongside COSBOA, the Council of Small Businesses Organisations of…
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Double digit-growth boom for regional housing markets
Regional Australia is continuing to witness house value increases that outpace the capitals, with the best performing regions enjoying an annual rise of more than 30 per cent.
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The number one feature Australian homebuyers are looking for
With Australians spending more time at home than ever, it appears the backyard swimming pool is back in vogue, as homebuyers scramble to get ready for summer. According to Domain, the most searched term across all capital cities in October was, ‘pool’, ahead of other popular terms such as ‘home office’ and ‘courtyard.’ With Australians unable to travel overseas, and…
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26 Victorian suburbs join the Million Dollar Club
Melbourne property prices are booming and million-dollar homes are quickly becoming the new norm.
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Australia’s cheapest street to buy a home is in Western Australia
A tiny town in outback Western Australia with less than 500 people is also home to Australia’s cheapest street in which to buy property. Main Rd in Mullewa has a median house price of just $28,500, according to Ray White Chief Economist Nerida Conisbee. Mullewa, which is 99km east of Geraldton and 450km north of Perth, is known for its…
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Selling off market: new research shows whether it’s worth it
Vendors who choose to roll the dice with their properties by selling off-market are losing out, according to new data. A new report from PropTrack comparing sale prices for houses sold off-market with those listed on realestate.com.au, found on average they sell for 2.6 per cent less. Paul Ryan, PropTrack Economist and report author said consumers chose to sell properties…
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The prime real estate position Australians are willing to pay top dollar for
One in three super prime residential sales in Australia over the last year have been absolute waterfronts, with buyers paying greater premiums than ever before.
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Why you need a whole lot more in the bank to buy a luxury property in Australia
Forget the million dollar price tag for a prestige property, $4 million is the new $1 million, according to Ray White’s Nerida Conisbee. In a recent look into the luxury property market, Ms Conisbee noted the sector was among the beneficiaries of the pandemic. And, like other areas, it was being driven by low interest rates, high savings, more time…
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Vic auction listings break through 2000 for the first time
A record 2040 residential property auctions were expected to be staged in Victoria in the week ending 28 November, according to the Real Estate Institute of Victoria (REIV).
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The busiest auction week on record
This week proved the busiest auction week on record with 4261 properties going under the hammer across the combined capitals.
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Big Four bank’s decision to scrap sub-2 per cent interest rates a ‘wise one’
The National Australia Bank (NAB) is the only big four bank offering an interest rate lower than 2 per cent, following Westpac’s decision to discontinue its introductory variable rate of 1.99 per cent.
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COVID-19 drives ‘regional renaissance’ as house prices surge
The regional property market continues to skyrocket, with house prices jumping almost 30 per cent in the year to September, the fastest annual pace in 35 years. The rapid rise in the regional market is outpacing growth in metro areas, as the ripple effect of COVID-19 sees homeowners flee the city, thanks to increasing work-from-home arrangements. The findings were revealed…
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Auction numbers jump 10 per cent each week since September
For the first time in CoreLogic history, the number of auctions scheduled across Australian capital cities has exceeded 4000.  After delays from the extended lockdowns in Sydney, Melbourne and Canberra, the spring selling season is going full steam ahead with 4354 capital city homes set to go under the hammer this week. According to this week’s CoreLogic Property Pulse,…
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How NZ’s cash rate rise will impact the property market
Experts tip the latest NZ cash rate increase isn't the last hike the RBNZ will announce, and that is likely to impact the property market.
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How big is the gap? How rising house values compare to wage growth
House values have risen at more than double the rate of wage increases over the past two decades, according to recent analysis by CoreLogic.
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Australia’s best place to invest revealed
The Queensland suburb of Woolloongabba has been named the best place to invest in Australia, based on new research by ME. The inner eastern suburb ranked number one in the top 20 list of places to invest for residential property investors looking to forge new financial goals following the COVID-19 pandemic. The Queensland suburb of Burleigh Heads came in second,…
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Weekly listing results suggest hot summer market
Listing numbers continue to rise across Sydney, Melbourne and Brisbane, generating optimism that the positive spring market results will continue through summer. This week sees the highest weekly number of properties listed for sale in 2021, with a three per cent increase in newly listed properties for sale, according to Domain’s weekly property report. Many of those listings were located in…
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How to market shipping container home expected to sell for $1 million-plus
The secret to Chris Ransley listing and selling a tiny Stradbroke Island home constructed from a shipping container is connections. Situated atop Point Lookout on a 350sq m block, 123 Tramican St is expected to sell for more than $1 million, despite the fact it has just one bedroom, a bathroom and a combined kitchen and living area. Ray White…
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New player enters the digital market
A new digital property platform has entered the Queensland market, creating efficiency and transparency in the sale-to-settlement journey for buyers and agents.Â
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Why Australia’s largest property data provider just purchased RiTA by AiRE
Real estate digital assistant RiTA and the AiRE software company that powers her have been acquired by CoreLogic.
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House prices grow at third fastest rate in Australia’s history
PropTrack analysis of house price growth in Australia from 1880 to now has found that house prices are growing at the third fastest rate in Australia’s history on the back of strong property market conditions.
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The Australian city second in the world for prime price growth
Sydney’s prime prices are expected to rise by 9 per cent next year, according to new data, making it the second highest city for prime price growth in 2022.Â
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Why airspace could be the big real estate trend of the decade
Where would Australia’s major capitals house an influx of new residents? According to strata property development specialist Warren Livesey, the answer could be airspace.
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Brisbane named best city to work from home
Brisbane has been named as the best city in the world to work from home with its average temperature of 22 degrees considered ideal for productivity. The Queensland capital also scored highly for its cost of living and its strong healthcare system in the WORKATION Index. Prepared by digital learning platform Preply, the Index examined the 74 most populated cities…
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ANZ forecasts house price fall in 2023
House prices look likely to peak in December at their strongest growth rate since the 1980s, before dramatically slowing down in 2022 and falling in 2023, a new forecast shows. The ANZ Australia’s Housing Rolling Over report shows price growth is set to peak at just above 21 per cent in December 2021 before starting to wind back. “This would…
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PropTrack data shows just how hot the market is right now
REA's PropTrack has released its market outlook for November, noting listing volumes increased across the country throughout October while property prices also continued to rise.
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More than half of first home buyers are going solo
First home buyers in New South Wales are seeking a home not an investment, with more than half going it alone, according to new data. The latest InfoTrack Property Market Update revealed in the year to October’s end, 84 per cent of NSW first home buyers purchased either a house (47 per cent) or a strata property (37 per cent)…
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Open borders to spark Melbourne suburban boom
Demand for homes in Melbourne’s inner suburban rim is set to skyrocket when international borders open, according to property expert, Mark Dawson. The Urbis Director, who featured in the Dye & Durham Future Property & Development Insights Virtual Roadshow Series, said while a sea or tree change had been the focus of many buyers in the past 12 months, a…
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How competitions could land your business in hot water
Competitions are a sure-fire winner when it comes to attracting customers, building brand awareness, and increasing traffic - especially during the holiday season.
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Fifth busiest auction week on record
The combined capital cities have enjoyed their busiest auction week since late March and the fifth busiest since CoreLogic records commenced in 2008, with 3725 properties going under the hammer.
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