INDUSTRY NEWS
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Premier Gladys Berejiklian confirms the ban on small business evictions will be extended
NSW Premier Gladys Berejiklian is set to announce a new rent relief package assist small businesses.
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More Australian homes selling than coming on the market
Dwelling sales continue to surge across Australia against low listings levels, according to new CoreLogic data. In the three months to July, CoreLogic estimated there were around 171,100 dwelling sales in Australia. This is 53.4 per cent higher than what has typically been seen this time of year for the previous five years. In the same period, there were just…
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Sydney residential vacancy rate rollercoaster takes another turn
REINSW noted residential rental vacancies in Sydney dropped in July for the third consecutive month.
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Australians are using lockdown to hunt for property online
Search activity on realestate.com.au jumped 2.4 per cent last week as lockdowns were felt across the country.
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Stamp duty reform could be key to relieving housing affordability pressures
The Real Estate Institute of Western Australia (REIWA) has urged the State Government to commit to stamp duty reform in its 2021-22 Budget, given the state’s strong financial position. REIWA claimed stamp duty has remained the biggest financial hurdle for Western Australians looking to buy property. REIWA President Damian Collins said while stamp duty was an important revenue earner for…
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Number of single women buying first home tipped to rise
REIA forecasted a rise in single women purchasing their first homes.
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How the COVID-19 pandemic will change the Australian housing landscape long-term
A drop in investor appetite for high-rise apartments and a push towards lifestyle-centric housing are just some of the trends the COVID-19 pandemic has accelerated, according to property experts. Many of these trends were already underway in the Australian economy, but the spread of COVID-19 created an economic bubble for many industries, which will likely hold strong for years to…
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Perth’s current property growth rate is almost twice as high as the previous cycle
Perth's market recovery is tracking at an average growth rate of 0.9 per cent per month, according to REIWA
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Rental market confidence is up but agents are concerned about rent roll and profitability margins
Australian property managers were surveyed to determine the true mood of the national rental market with the response overwhelmingly stating that while the market might be doing well, businesses are concerned by rent roll growth and profitability.Â
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Industry leaders are urging real estate agents to get vaccinated
Many industry leaders have supported the push by governments around Australia to improve vaccination rates by encouraging members of the real estate industry to get vaccinated. Raine & Horne chairman Angus Raine is one of many real estate industry leaders to speak out about the potential vaccination mandate. “As an industry, we need to support the government’s messages about the…
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Dwelling values and sale volumes continue to rise across Australia but rental yield declines, says CoreLogic
CoreLogic has released their August insights, summarising Australian housing market data to the end of July 2021. They found the Australian housing market has continued to maintain the highest dwelling values since 2004, but quarterly values have started to gently decline, when compared to May 2021. Sales volumes also rose across Australia, both in regional and metro markets. Rental values…
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REIA has urged the Australian Government to rethink their approach to sustainability in real estate
The Real Estate Institute of Australia (REIA) has called on the government to empower Australian consumers to adopt more 'sustainable and healthy' housing practices.
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Openn Negotiation announces their Excellence Awards winners
Australian real estate tech platform Openn Negotiation has virtually held their fourth annual awards night, announcing their 2021 Excellence Award winners. The night celebrated the agents and agencies achieving outstanding success using the digital sales platform, which recently listed on the ASX. Queensland agent Brad Scott, Principal of Smart Real Estate, was a stand-out winner this year. He received multiple…
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What social media really thinks of The Block 2021
Renovation competition show The Block returned to Channel Nine for its 17th season on Sunday night, with competitors vying to create luxury living in a suburban cul-de-sac.
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The top regional Queensland suburbs for investment opportunities
Queensland boasts a huge array of regional locations that draw in house hunters from around the country, from hinterland towns to beachfront living.
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Auction volumes and clearance rate dip with three major capitals in lockdown
Both auction volumes and the preliminary clearance rate fell this week in the wake of lockdowns across Australia's three largest capitals.
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REIACT speaks out against proposed Residential Tenancies Act changes
The Real Estate Institute of the Australian Capital Territory (REIACT) has urged all landlords and tenants to speak up about proposed changes to the Residential Tenancies Act. REIACT CEO Michelle Tynan said the proposed changes to the Residential Tenancies Act (RTA) could have wide and damaging consequences for private rental stock numbers in the territory. “The minimum energy efficiency standards…
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REA Group Australia reveals strong growth in their FY21 results
REA Group has announced positive end of financial year results, with their revenue of $928 million up by 13 per cent, and net profit of $318 million up by 18 per cent.
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Sydney’s CBD office market shows resilience amid lockdowns
The Property Council of Australia's latest Office Market Report has highlighted the resilience shown by the Sydney CBD office market.
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Openn Negotiation partners with RE/MAX Australia
Australian-listed PropTech company Openn Negotiation has signed a partnership agreement with real estate network RE/MAX Australia.  The partnership will support the adoption of Openn Negotiation as a sales method, enabling further growth of the platform through group agent training. There will also be a series of technical integrations with RE/MAX Australia’s own digital assets. The property data is set to…
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REA Group named one of Australia’s best workplaces
REA Group has been named Australia’s fourth ‘Best Workplace for 2021’ by Great Place to Work. The REA Group was certified by Great Place to Work in June and was recognised as the fourth highest performing organisation with more than 1000 employees at a virtual event yesterday. The acknowledgement is two places higher than that achieved in 2019, when REA was…
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Podium aims to drive a texting revolution for local businesses in Australia
Communication and payments platform Podium has continued its international expansion, announcing its launch in Australia.
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New housing loan commitments are starting to wane
Australia’s strong property market is starting to settle down as economic concerns about lockdowns start to make an impact, new Australian Bureau of Statistics (ABS) data has shown. Real Estate Institute of Australia (REIA) President Adrian Kelly said housing loan commitments had fallen, but remained at an historically elevated level of $32.1 billion. “The latest figures show that the value…
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RBA maintains flexible approach with continued cash rate hold
The Reserve Bank of Australia (RBA) has decided it will keep the nation's official cash rate on hold at 0.1 per cent.
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More than half of experts say lockdowns will slow property price growth
Strict lockdowns are one of the few things that can slow down Australia’s recent surging property price growth, according to experts.
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New Zealand’s market slowdown is gradually unfolding
CoreLogic’s House Price Index (HPI) showed New Zealand’s house values increased by a further 1.8 per cent over July, with a market slowdown starting to develop. This was the same rate of growth recorded in June, but down on both May (2.2 per cent) and April (3.1 per cent). While New Zealand is likely to be past the peak growth…
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WA real estate agents raise $1 million to combat homelessness
WA real estate agents have partnered with the Salvation Army's Community REInvest program to assist people experiencing homelessness.
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Australia’s growth cycle tapers as housing becomes less affordable
Australian housing values increased a further 1.6 per cent in July, according to CoreLogic.
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Perth buyers soak up listings despite wet conditions in July
Perth's wet weather hasn't dampened buyers' interest, according to REIWA.
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Rex Software celebrates 10 years servicing the real estate sector
Rex Software looks back at 10 years servicing the real estate sector and the major milestones they've enjoyed along the way.
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The ATO warns property investors to be aware of common tax return traps
The Australian Taxation Office (ATO) has reminded property investors to look out for common tax return mistakes that can delay refunds or lead to an audit, costing taxpayers' time and money.
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Sydney lockdowns could cause another Australian recession
68 per cent of Finder's surveyed experts believe Sydney's extended lockdown could be a catalyst for another recession in Australia.
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PropertyMe celebrates reaching 4500 subscribers and 1.3 million properties
lian property management software company PropertyMe has surpassed their milestone of 4500 agency subscribers and is now used to manage over 1.3 million properties.
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Auction volumes steady, clearance rate rises
This week’s preliminary clearance rate has edged higher and volumes remain on par with previous weeks, despite the fact more than 250 of the anticipated 2077 auctions for this weekend were rescheduled to a later date.
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Darren Cole launches Cole + Yarrow with co-founder Craig Yarrow
Darren Cole has launched Cole + Yarrow with co-founder Craig Yarrow
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