INDUSTRY NEWS
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235 Perth suburbs have median rents below their peaks
The Perth rental market is significantly more affordable than it used to be, with reiwa.com analysis showing 235 suburbs had median house rents below their peak prices in May 2021. REIWA President Damian Collins said the vast majority of Perth suburbs were more affordable for tenants than they used to be. “reiwa.com analysis shows 201 of the 235 suburbs had…
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The world’s largest housing bubbles
Australian housing prices have been on a record run over the past 12 months, however, a new report suggests it’s nowhere near the biggest bubble in the world.
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Website Blue announces major real estate partnership
Australian real estate website and marketing agency, Website Blue has announced a website development partnership with Harcourts International. The partnership, which covers the development of over 2000 domains, is touted by Website Blue as one of the region’s largest web development projects.The new website development project is aimed at future proofing lead generation for business owners, agents and property managers,…
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Over three-quarters of auctions successful this week
Over three quarters of auctions proved successful this week after 2418 properties were taken to auction, resulting in a preliminary clearance rate of 77.8 per cent. CoreLogic noted the volume was again down on numbers predicted earlier in the week, revising down from 2610 with the majority of that drop occurring in Melbourne. Of the 1955 results collected so far,…
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Home prices are rising globally, but can wages growth keep up?
House prices have been rising around the world at the fastest rate in 30 years, however some countries might run into problems if wages growth can’t keep up, an expert has warned. Asset management firm Franklin Templeton, notes house prices have been rising globally over the past 12 months, thanks to a combination of low interest rates and monetary stimulus.…
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Over 200 markets now in the million dollar property club
With property markets running hot across the country, a new report has highlighted that there are now 218 million-dollar areas across Australia.
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New listing volumes remain high despite fall in May
After a significant lift in volumes earlier this year, new listings fell for the second consecutive month a new report shows. While the rise in listing volumes earlier this year helped supply meet record-high buyer demand, the REA Insights Listings Report June 2021 showed a 4.4 per cent decline in May. Despite the slight drop in May, new listing volumes…
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Boom in Aussies buying up restaurants, pubs, hotels and bars in regional centres
With international borders closed, regional Australia is seeing a dramatic surge in popularity. More people are moving out of the cities and into quaint communities. City slickers are looking for new careers and business opportunities, with regional Australia being bought up at record pace. Manenti Quinlan and Associates Director Leonard Bongiovanni said city residents are being wooed by the “fresh…
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New Zealand’s property market upswing is nationwide
CoreLogic New Zealand takes an in-depth look at suburb-level property data, revealing a surprising market upswing. Upmarket shopping district Herne Bay remains New Zealand’s (NZ) most expensive suburb with a median value of $3.16 million. However, in terms of value growth, cheaper areas reign supreme. Reflecting better relative affordability and easier access for a wider range of buyers, Manunui in…
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Property fragment marketplace Bricklet enters investor partnership
The partnership between Bricklet and DDP Property is set to extend the benefits of property fragments to more than 30,000 investors. Bricklet currently processes $52 million worth of property fragments across Australia, with $15 million of the fragments owned by Australian investors. With more Australians unable to afford a full mortgage for a desired investment property, Bricklet aims to deliver…
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Community housing in regional New South Wales has a 10 year waiting list
The Community Housing Industry Association NSW (CHIA NSW) is calling for urgent action to address the state’s social housing waiting list. There are more than 50,000 households waiting for up to 10 years or more for safe, secure and affordable community housing. CHIA NSW has warned that households on the social housing waitlist are paying unaffordable private market rents, couch-surfing…
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Australia’s residential development market falls to a seven-year low
Just $4 billion of total residential site sales were recorded in 2020. It was well below the 2014 peak of $11.3 billion, according to Knight Frank’s Australian Residential Development Review 2021. The review also found the national apartment pipeline will drop over the next three years, with just 86,400 new apartments planned across Sydney, Melbourne, Brisbane, the Gold Coast and…
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Largest total value rise on record for residential dwellings
The total value of residential dwellings in Australia now exceeds $8 trillion, according to the Australian Bureau of Statistics (ABS). The ABS found the total value of Australia’s 10.6 million residential dwellings rose by $449.9 billion to $8,293.2 billion in the March quarter 2021. This was the largest rise on record for the ongoing study, which looked into the value…
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REA Group partners with software provider Simpology
Real Estate Australia Group (REA) has acquired a 34 per cent interest in Australian software company Simpology. The software provider offers digital mortgage application and lodgement solutions for broking and lending industries. As a part of their new agreement, REA will take two seats on the Simpology Board. REA plans to use Simpology’s technology to facilitate direct transmissions of digital mortgage…
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Market Buy and Podium join forces
Online offer management system Market Buy and review and text messaging service Podium have officially joined forces in a move they describe as a “win for agents”.
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Auction volume down but clearance rate up over long weekend
Auction volumes were again lower than predicted this week, but CoreLogic noted the preliminary clearance rate enjoyed a slight rise.
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137 fines issued as NSW Fair Trading targets real estate compliance
NSW Fair Trading has been out in force in recent weeks, making sure agents are complying with legislation put in place to protect consumers.
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New home sales strengthen in May
The Housing Industry Association (HIA) revealed there has been a 15.2 per cent increase in new home sales between April and May.
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Australian property is selling faster than ever
Demand for property across the country is higher than ever with the average days on market tumbling last month.
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House prices in Australia and New Zealand growing at record pace
House prices across the planet are growing at a rapid rate, with both Australia and New Zealand some of the best performers in the last 12 months.
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Female real estate agents sweep the REIA awards
The winners of the 2021 Real Estate Institute of Australia National Awards for Excellence have been announced. Female real estate agents swept the board, winning eight out of 11 of the individual agent categories. REIA President Adrian Kelly said that from the 83 finalists there was an increase in female candidates in the different categories from previous years. OBrien Real…
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Sales double in Perth suburbs as first-home buyer activity ramps up
New sales data reveals 10 Perth suburbs have more than doubled their sales volumes in the past year. The Real Estate Institute of Western Australia (REIWA) confirmed the March quarter saw strong sales growth across Perth. There was a 31 per cent increase when compared to the March 2020 quarter, but 10 suburbs stood out with more than 100 per…
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Australian homes selling faster than ever
New statistics reveal properties across Australia sold at record speed in May. The REA Insights Housing Market Indicators report showed the average number of days on-site fell to a historical low of 32 last month. The June 2021 report combined eight key metrics to provide an up-to-date view of the property market and emerging trends. These metrics include search activity,…
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Antony Catalano and Alex Waislitz invest $6 million in AI business Propic
Australian Community Media’s Antony Catalano and Alex Waislitz have injected $6 million into PropTech start-up Propic to propel its development of Artificial Intelligence solutions for the real estate market. Propic has already developed two AI technology solutions that allow agents and property managers to communicate with clients through automated conversational or text AI at any time of the day or…
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Herron Todd White names potential growth hotspots
For every Bondi Beach, there are dozens of other suburbs that don’t have the same notoriety, yet have the potential for incredible growth. Herron Todd White has compiled its list of ‘unsung hero hotspots’, which are suburbs that might not get as much attention as their famous neighbours, but are ripe for growth in an already strong property market. NSW…
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House prices soar at highest quarterly rate in 10 years
Property prices have increased at the highest quarterly rate in a decade a new report has found, with Sydney still the most expensive capital city to buy a house in. The latest Real Estate Institute of Australia Real Estate Market Facts report shows that the weighted average capital city median price increased by 6.8 per cent for houses and by…
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Dan Argent: Seven steps to launch your business
You only get one chance to make a first impression, and you only get one chance to launch your business. So, it’s important you get it right if you decide to go out on our own. I’ve helped launch plenty of businesses – fast approaching 100 – and there’s a few things I’ve learnt along the way. Most importantly, the…
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One in five Australians believe crypto is the secret to homeownership
More than a fifth of Australians believe investing in cryptocurrency is an easier way to save for a mortgage deposit than a bank account or traditional savings method, according to new research from Kraken.
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SA sees massive increase in buyers from interstate
Real Estate Institute of South Australia Chief Executive Officer Barry Money says that REISA’s statistics reveal a sizeable lift in the number of residential properties purchased by buyers whose primary address is outside of South Australia. “We compared the numbers in our own unique data set from January through April with those from the same first four months of 2020,…
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Three-quarters of real estate agencies now more profitable than in 2020
More than two-thirds of Australian and New Zealand residential real estate agency office principals are personally taking home higher earnings in 2021 than in 2020, according to a new survey by Juwai IQI. An even higher share of offices – three-quarters – are more profitable today than in 2020, the survey found after interviewing the principals of the 29 offices…
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Auction volumes below predictions due to Melbourne’s lockdown
Auction volumes dropped below the number previously predicted this week, with 2691 properties going under the hammer across the combined capitals
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May the busiest auction month on record: Domain
May was the busiest auction month on record, according to a recent report by Domain.
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Acreage property sells well above reserve in online auction
A 10-acre property in Somerville, Victoria has sold for $402,500 above the reserve, after fierce bidding through online platform Openn Negotiation.
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Home loan commitments hit record high
Owner-occupiers are fuelling a record high level of new loan commitments for housing.
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PropTech startup raises $3 million to help keep buyers in the loop
A PropTech startup that gives buyers access to pre-market and off-market real estate recently closed a $3 million funding round that will enable it to continue to grow. Listing Loop, which launched in 2019 and was founded by PropTech entrepreneur Rhett Dallwitz and real estate director and strategist Andrew Meehan, gives property buyers quick and easy access to properties that…
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