INDUSTRY NEWS
-
REA reports home sales increased by 60 per cent in June compared to previous years
Property sales have remained steady and are over 60 per cent higher than in 2020 and 2019, according to a new report from the REA.
Read More » -
Experts weigh in on the Reserve Bank of Australia’s rate-hold
On Tuesday afternoon, the Reserve Bank of Australia (RBA) announced the official cash rate was on hold, to mixed reactions. Economists and industry leaders have weighed in on the RBA’s announcements on social media, with many using Twitter to share their opinions. Economist and Monash University lecturer, Dr Isaac (Zac) Gross says the under-covered aspect of the RBA is the…
Read More » -
How Australia ranks for female empowerment and gender equality
Australia has ranked within the top 20 countries in the Female Opportunity Index 2021.
Read More » -
Richard Matthews Real Estate gets behind Beyond Blue
Richard Matthews Real Estate director and auctioneer Matthew Everingham has announced a fundraising collaboration with Beyond Blue.
Read More » -
Cash rate remains on hold, but RBA eases up on bond buying
The Reserve Bank of Australia has left the official cash rate on hold at its July meeting, but signalled it intends to wind back its bond buying program as Australia transitions from “recovery to expansion”.
Read More » -
QR code check-in at open homes launched
Combined Franchise Services has launched a new QR code service that enables open home attendees to self-check in. Combined Franchise Service clients (including Century 21 and Better Homes and Gardens Real Estate) will now be able to check-in prior to entering a property by scanning a QR code with their mobile phones. The use of QR codes has thrived amid…
Read More » -
Millennials use pandemic savings to put a deposit on their first home
Three in every five millennials plan to use the money they saved during the pandemic towards a payment on their first home, according a US study.
Read More » -
CoreLogic New Zealand House Price Index shows market momentum continues to fade
Property values around New Zealand (NZ) increased by 1.8 per cent over June, according to the CoreLogic House Price Index (HPI). Corelogic’s data indicates a slight reduction in June from the 2.2 per cent growth rate from May, providing early evidence of a gentle deceleration in market momentum in NZ. CoreLogic’s Head of Research, Nick Goodall believes the turnaround will…
Read More » -
Property Council welcomes projected pathway out of COVID-19
The Property Council of Australia has welcomed National Cabinet's agreement of a four-phase pathway out of the pandemic based on vaccination thresholds being met and other key settings.
Read More » -
Investor housing loan commitments rise
The latest Lending to Households and Business figures show the value of new loan commitments for housing increased again in May with investors back in force.
Read More » -
Auction volumes and clearance rates dip due to COVID uncertainty
The preliminary clearance rate came in at a lower 73.6 per cent this week after the volume of auctions dipped slightly due to COVID lockdowns in multiple Australian states.
Read More » -
An entire island just off the Sunshine Coast is on offer for just $200,000
It’s not uncommon to sell properties that offer a slice of island paradise – but it’s not every day an entire island comes up for grabs. Listed by McGrath Noosa and currently for sale through Openn Negotiation, the almost-53 hectare Bandicoot Island is nestled between Fraser Island and the mainland and is surrounded by the crystal-clear waters of the Great Sandy Strait. …
Read More » -
Australian dwelling values finish the financial year 13.5 per cent higher
National home values rose 1.9 per cent in June, taking annual growth to 13.5 per cent for the financial year.
Read More » -
Property industry confidence remains robust but housing affordability concerns increase
Property industry confidence levels remained close to recent record highs as the sector continues to lead Australia’s economic recovery from the COVID-19 pandemic. The results of the latest quarterly ANZ and Property Council survey showed confidence within the property industry (which employs 1.4 million Australians) would be critical to the rebound from the current COVID-19 outbreaks. The survey found that…
Read More » -
Family Home Guarantee and First Home Loan Deposit kicks off around Australia
Two highly anticipated government initiatives started 1 July, designed to provide Australians with a more secure future, but not everyone is guaranteed to be a winner. The Family Home Guarantee and First Home Loan Deposit scheme have each offered 10,000 new spots to eligible lower income Australians. But financial comparison hub RateCity warns consumers to check the fine print for…
Read More » -
Knight Frank research reveals promising luxury real estate trends
Australia’s major cities saw their highest quarter of prime residential sales volume on record. At the same time, the number of days a prime property was on the market compressed by almost a week, indicating there’s still more steam in the prestige market ahead, according to Knight Frank research.
Read More » -
Course gives tenants skills to succeed and eases property managers’ pain points
An innovative tenancy skills program that equips tenants with the skills they need to maintain a successful tenancy and eases property managers’ pain points is being rolled out in Australia’s eastern states. The Tenancy Skills Institute program is already available across Queensland and is making its way into New South Wales and Victoria. The training package is available as a…
Read More » -
Most investment properties no longer require physical inspections
Analysis by quantity surveyors, Washington Brown, has found more than 82 per cent of investment properties do not require a physical inspection to achieve the maximum depreciation. The company assessed 15,370 individual investment properties in Sydney over the past year since the pandemic and found 12,698 – or 82.6 per cent – of properties did not require a physical inspection…
Read More » -
New Intergenerational Report indicates COVID-19 will have lasting impact on the economy
The Australian Government's Intergenerational Report was released on Monday, with the Property Council of Australia describing it as a ‘wake-up call’.
Read More » -
Recent homeowners aren’t relying on the bank of mum and dad
There’s a pervasive myth that many millennials and recent homeowners are using the ‘bank of mum and dad’ to get their foot on the property ladder. But research from the Great Southern Bank (formerly CUA) has revealed just five per cent of recent homeowners relied on family to secure their first property. Great Southern Bank Chief Customer Officer Megan Keleher…
Read More » -
Realestate 88 principal qualifies for REIWA Hall of Fame as a triple award winner
The Real Estate Institute of Western Australia (REIWA) awarded Realestate 88 Inner City Principal Brendon Habak the Top Residential Sales Agent of the Year 2021 for the third year running. Last month’s ceremony saw Mr Habak grace the stage for the third time in a row, as he took out the major REIWA award. Mr Habak was rewarded for going…
Read More » -
PropTech Group to buy Eagle Software as part of growth initiative
PropTech Group has agreed to buy Eagle Software for $7.5 million as part of its objective to own and operate property technology businesses in the Australian, New Zealand and United Kingdom real estate markets. Under the agreement the payment will include $4.1 million in cash and $3.4 million in scrip. It forms part of a wider, $17.5 million equity raising…
Read More » -
Riverbank House invites nature in to win Queensland architecture award
Wilson Architects’ Riverbank House has been awarded the Robin Dods Award for Residential Architecture at the Australian Institute of Architects’ Queensland Architecture Awards. The home is one-of-a-kind and sits on the banks of the Brisbane River in Highgate Hill, four kilometres south of the Brisbane CBD. Riverbank House is an interpretation of the classic Queenslander, a quintessentially Australian style of…
Read More » -
Sydney holds firm despite lockdown, Melbourne enjoys second busiest auction week of the year
Melbourne has enjoyed its second busiest auction week of the year, but all eyes were on Sydney this weekend after the announcement of snap lockdowns in four local government areas.
Read More » -
Expats and international investors stoking the local market
International investors and expats looking to return home to Australia are continuing to show strong interest in many markets across the country and are contributing to upward pressure on house prices.
Read More » -
WA extends its rent relief scheme
The WA State Government has extended the Residential Rent Relief Grant Scheme (RRRGS) which aims to help tenants facing financial hardship.
Read More » -
Profit-making resales jump thanks to hot property market
The number of home owners selling their property at a profit jumped in the March 2021 quarter thanks to the record run for property prices.
Read More » -
NSW Budget isn’t giving back to housing after stamp duty boom
The billion-dollar stamp duty surge generated by pandemic stimulus will see the New South Wales (NSW) Budget return to surplus sooner than expected. But the windfall isn’t being directed into urgently solving NSW’s social and affordable housing crisis. The Australian Institute of Architects NSW Chapter President Laura Cockburn expressed her disappointment with the lack of attention to the housing crisis.…
Read More » -
REISA welcomes new budget but seeks more focus on housing
The Real Estate Institute of South Australia (REISA) has welcomed the continued emphasis on infrastructure throughout the region, but was concerned with the lack of investment in the housing sector. The 2021-22 State Budget handed down by the South Australian (SA) Treasurer Rob Lucas maintained a strong economic focus but should have included more assistance for the property sector, according…
Read More » -
Housing policy changes have had little effect on the NZ market
Three months on from the New Zealand government’s housing policy, CoreLogic reveals the changes are yet to have a discernible impact on the market. CoreLogic Head of Research Nick Goodall admits it’s “still early days”, after the New Zealand (NZ) government policy was announced on 23 March this year. “It’s hard to disentangle the government’s bright-line extension and tapered removal…
Read More » -
SA Budget misses chance to get empty nesters moving
The South Australian Budget has delivered a huge $17.9 billion in infrastructure, which was set to underpin the state’s robust real estate markets and future growth. However, Raine & Horne SA General Manager James Trimble said the Budget was a missed opportunity. Mr Trimble said Treasurer Rob Lucas should have encouraged empty nesters to downsize into smaller homes in Adelaide…
Read More » -
Ray White family set to sell Ascot home
The family of real estate giant Ray White are set to sell their cherished Brisbane home. Located in Brisbane’s illustrious Ascot, the classic federation home is scheduled for auction on 17 July with Ray White New Farms leading prestige agent Matt Lancashire. It’s the family home of Ray White Group Chairman Brian White and wife Rosemary, who have owned it…
Read More » -
Propic and MRI Software join forces to bring conversational AI to property managers
Conversational artificial intelligence (AI) will be used to improve the customer experience and potentially save property managers from burnout, courtesy of a new deal between Australian PropTech startup Propic and MRI Software.
Read More » -
REIA urges Australians to use deposit schemes
Thousands of Australians have been given their first real chance to buy their own home.
Read More » -
The hot new search term for homebuyers
The world has changed dramatically over the past 18 months and as a result, the types of homes people are wanting to buy has also seen a dramatic shift. According to realesate.com.au, the most popular search term is now ‘study’, indicating that many people are clearly changing the way they work and live. With lockdowns continuing to wreak havoc in…
Read More »