INDUSTRY NEWS
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NZ vendors achieve record profits
More than 99 per cent of New Zealand vendors sold their property for more than the original purchase price in the three months to September, according to new data.
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Home building boom to continue in 2022
Australia’s home building boom is set to continue throughout 2022 despite the cost of labour and materials rising and pushing the cost of a new home higher.
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Increasing property prices see stamp duty skyrocket
Property prices have soared throughout the pandemic, as more Australians seek to achieve work/life balance, relocating to lifestyle locations in droves.
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Online auctions here to stay, as volumes surge this weekend
Australian capital cities are set to have their busiest auction week since late March, and their fourth busiest week since CoreLogic records commenced in 2008. This week 3810 homes are expected to go under the hammer – double the volumes recorded this time last year. Continuing the upward trend seen since early October, Sydney is set to host 1439 auctions…
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Market Buy appoints John Hellaby as new CEO
The online offer pioneer, Market Buy, has announced the appointment of John Hellaby as its new Chief Executive Officer.
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Metro Adelaide sets new record for median price
Metropolitan Adelaide has recorded a record-breaking median price increase of 13.82 per cent year-on-year, up 3.7 per cent from the previous quarter, according to new data. The new median price for the region has climbed to $560,000, which is also a record, the data revealed. The Real Estate Institute of South Australia’s Valuer-General’s price data for the 2021 September quarter…
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Return of international students welcome news for investors
The impending return of international students will be welcome news to Sydney investors, particularly those with apartments near the city’s universities. With most Sydney residents now vaccinated against COVID-19, the NSW Government has announced hundreds of international students will be permitted to return from as early as December, with tens of thousands to follow in 2022. Century 21 Eastern Beaches…
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Cash or crypto: vendors accepting Bitcoin ‘a natural progression’
A unique sprawling property, including a beach-house, studio and its very own island, has been listed for sale, with buyers offered the choice of cash or cryptocurrency when it comes to making payment.
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Gold Coast property market pressure ‘some of the highest in the country’
Gold Coast property prices have surged since the start of the pandemic, following a decade of steady growth. Property market pressure in the region is now some of the highest in the country, according to a new Market Pressure Review Report. The data, released by InvestorKit, showed Broadbeach – Burleigh experienced the most significant growth, with property prices increasing 38.2…
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APRA tells standing committee its role is not to target house prices
The Australian Prudential Regulatory Authority (APRA) has appeared before the Standing Committee on Tax and Revenue, outlining its role in the financial regulatory system.
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Final countdown before AREAs submissions close
REA Group customers have until midnight Wednesday 17 November to finalise submissions for the Annual REA Excellence Awards (AREAs).
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Rising interest rates won’t burst the property market
Interest rates don’t create property booms or busts, according to new research by the Property Investment Professionals of Australia.
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What agents need to tell potential buyers about house flipping
A real estate agent’s reputation is their lifeblood, so it’s critical they give the right advice when it comes to flipping houses.
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Vacancy rates fall across most of NSW, except Inner-City Sydney
Vacancy rates across Sydney and much of New South Wales have dropped this month, while the Inner Ring bucked the trend, experiencing its highest vacancy rate rise since June.
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Auction volumes up 79.4 per cent since early October
High auction volumes continued this week, rising 8.2 per cent on the week prior to see 3562 properties go under the hammer. CoreLogic tips this weekly increase in volumes is likely to continue now lockdown restrictions have eased in Sydney, Melbourne and Canberra, with auction volumes increasing by 79.4 per cent since the first week of October. “With each week…
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Changes to money laundering laws must consider home buyers, tenants and small business, says REIA
The Real Estate Institute of Australia (REIA) has urged the Inquiry into Australia's anti-money laundering and counter-terrorism financing regime to consider genuine home buyers, tenants and real estate agencies when making its recommendations.
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Average NZ home value tops $1 million
Lockdowns have done little to dampen buyer demand in New Zealand where house values have reached a new high.
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HomeBuilder legacy lives on in record number of houses being built
The legacy of the HomeBuilder initiative lives on, with a record number of houses commencing construction in the recent June quarter.
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New listings across the capitals reach highest number on record
New listings across Australia’s capital cities reached a record high in October, with sellers flocking to the market due to eased restrictions.
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Australians put property buying plans on hold
Australians are putting their property buying plans on hold as the year comes to a close, according to newly released data.
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Rise in listings and auction volumes as Spring comes to an end
Domain’s latest weekly property report has revealed a rise in listing and auction volumes as spring draws to a close.
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Properties selling at warp speed
Australian properties are selling at their fastest rate in five years with weekly sales volumes also reaching their highest level this year, fresh data reveals. The REA Group’s latest PropTrack Housing Market Indicators Report showed that in October buyers snapped properties up quickly, with the median amount of time a property was listed on realestate.com.au before selling dropping to just…
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NZ First Home Buyers hit record market share
Despite tough market conditions and rapidly rising house prices, first home buyers in New Zealand have hit record high market share.
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Survey analyses real estate professionals mental health in tough year
A leading mindset coach conducting research for a whitepaper analysing the mental health and wellness of real estate professionals is searching for more respondents. Jet Xavier says the Revive survey takes just a couple of minutes to fill in and the results are used to help inform projects such as the Rise Initiative and the Real Care App, as well…
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Are we in a housing bubble? Nerida Conisbee offers her thoughts
Ray White Chief Economist Nerida Conisbee offers her perspective on whether or not the current high prices represent a housing bubble
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The 20 housing markets to watch around Australia
Queensland suburbs have taken out the top three spots in the Well Home Loans Green Shoots Report, which identifies the top 20 Australian suburbs likely to experience strong growth in 2022.
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Sydney’s next $2 million median suburbs revealed
With house prices rising across Sydney at more than 20% per year and with the median house price of around $1 million, the next barrier for many suburbs will be the $2 million mark.
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New Zealand property value bounce back likely to be temporary
House prices in New Zealand recorded a mini bounce back in October with values up 2.1 per cent over the month. It was the first time in six months that price growth sped up, according to the CoreLogic House Price Index, after September recorded a monthly growth rate of 1.4 per cent. The average value of a property in New…
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Clearance rates begin to fall as auction volumes remain high
Auction volumes remain high with 3276 homes taken to auction across the combined capitals this week, resulting in a preliminary clearance rate of 76.1 per cent. CoreLogic has reported that continued high volume has led to a steady decline in the clearance rate over recent weeks, with the success rate trending lower since its peak of 83.2 per cent on…
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Bowling alleys and enormous spas feature in Victoria’s top house sales
If you’ve got a bit of spare time this weekend and want to see how the other half live then check out this list of 10 luxury Victorian homes that sold over the past 12 months.
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REA Group reports Q1 results, revealing strong growth
REA Group delivered strong growth across its Australian segments during the three months to September 30, with revenue excluding acquisitions increasing by 22 per cent year-on-year to $264 million.
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Industry offers recommendations to address housing supply
Both the Real Estate Institute of Australia and the Property Council have offered their take on how to address Australia’s housing supply shortage.
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More choice expected for home buyers
Following a lengthy period of demand far exceeding supply, home buyers can expect more choice over the coming months, with rising auction volumes and thousands of new listings across most of the country, as COVID-19 restrictions ease.
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Victoria breaks land price records with lots over $300,000
Land prices in Melbourne’s key growth corridors have experienced strong growth, increasing by 7.7 per cent over the year, with lots in almost every municipality now valued higher than $300,000.Â
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John Minns appointed as first NSW Property Services Commissioner
Former Independent Property Group Managing Director John Minns has been appointed as the first Property Services Commissioner for NSW, in a move to support the $100 billion industry and its consumers.
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