INDUSTRY NEWS
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National rental vacancy rates fall for second consecutive month
The number of available residential properties available for in Australia have fallen for the second month in a row, with the vacancy rate now sitting at 1.7 per cent, according to the latest research from Domain.
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Australia’s housing and rental affordability declines
Overall rental and housing affordability has fallen in Australia in the March quarter, according to new data from REIA. The latest Real Estate Institute of Australia’s Housing Affordability Report has found housing affordability has improved in NSW and South Australia, remained steady in Western Australia and the Australian Capital Territory but it declined in Victoria, Queensland, Tasmania and the Northern…
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REA finds property seekers want energy efficient homes
Energy-efficient ratings and features have become increasingly important factors for Australians looking to rent, buy or build, according to new data from REA Group.
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Market Buy auction switch a virtual winner
Victoria’s snap lockdown hasn't dampened enthusiasm from prospective buyers, with a house at Mornington Peninsula selling for more than $500,000 above reserve under the hammer through virtual sales platform Market Buy last week.
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RBA leaves official cash rate at 10 basis points at June meeting
The Reserve Bank has again opted to maintain its current policy settings at its monthly Board meeting, including keeping the official cash rate at the historic low of 10 basis points.
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Australian residential property values rise by 2.2 per cent in May
Housing markets continued to surge throughout Australia in May, with CoreLogic's national Home Value Index rising by 2.2 per cent over the month.
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Top 10 takeaways from AREC 2021 – Day 2
A host of great insights and takeaways were on offer on Day 2 of AREC 2021. Here are our top 10 takeaways...
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Sydney property values tipped to rise by more than 20 per cent
House prices in Sydney are forecast to rise by an unprecedented 21 per cent in 2021, with a range of economists and industry experts also tipping the cash rate will remain on hold when the Reserve Bank Board meets on June 1.
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REA Group does a deal for share in PropertyGuru
REA Group has announced that it has entered into a binding agreement to combine REA’s Malaysia and Thailand businesses with Proptech company PropertyGuru.
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Ray White transforms the rental experience by collaborating with Snug
Rental application and inspection booking platform Snug.com, has formally announced its commercial partnership with Ray White, with the group having now onboarded more than 100 offices to its software platform.
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Top takeaways from AREC 2021 – Day 1
For the first time, AREC’s program combined three key industry-specific streams – residential sales, property management and mortgage broking. At the halfway point of the two-day event, we thought we’d share our top 10 takeaways from Day 1.
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Hamish Mill pulls off a hat-trick with 2021 Golden Gavel Award win
Auctioneer Hamish Mill of Williams Real Estate has performed an impressive feat, taking out the top award at the Domain Golden Gavel Awards in South Australia for the third year running.
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Third busiest auction week of the year, despite Vic lockdown
Despite the announcement of a snap lockdown in Victoria, this week proved the third busiest auction week of the year, with 2930 properties going to auction across the combined capitals, resulting in a preliminary clearance rate of 75.7 per cent.
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REA Group ignites new lead management feature to offer agents greater insights
REA Group has announced a new lead management feature designed to offer agents deeper insights into audience behaviour.
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We ask experts how Victoria’s latest lockdown will affect the industry
With Acting Victorian Premier James Merlino announcing a snap seven-day lockdown for the entire state from midnight Thursday, how will the real estate industry be affected?
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Lee Dowdall joins The Agency in Hunters Hill
The Agency is continuing to grow its footprint across Sydney, with the group announcing Lee Dowdall will spearhead its expansion into Hunters Hill.
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Another way to transact property: Transactor teams up with Contracoin
Leading property communication and transaction platform, Transactor, has opened up new avenues by enabling the use of Contracoin: a blockchain real estate platform that allows buyers and sellers to rapidly transact properties anywhere in the world. Transactor, whose foundations are based on taking the friction out of property transactions with world-first innovations, has been quick to welcome the inception of…
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The only way is up: Console goes all-in with Cloud and announces retirement date for Gateway
Console Group has unveiled new capabilities for its Cloud solution and announced its Gateway platform will be retired in July.
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The lesson for Australia out of Victoria’s property tax hikes: two out of three ain’t bad
Victorian treasurer Tim Pallas’s three-pronged strategy to raise an extra $2.7 billion in property taxes over the next four years is a case of two out of three ain’t bad, writes Brendan Coates.
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Get a first look at Luxe Listings Sydney as Amazon Prime releases trailer
Last week, Amazon Prime announced the premiere date for its hotly anticipated new real estate reality docu-series Luxe Listings and the streaming giant has just released the first trailer.
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Second place worth celebrating at Harcourts Australia’s awards night
Harcourts Australia had plenty of reasons to celebrate over the weekend. In addition to the company hosting its annual awards night on Saturday, the group also announced it is now the second-largest real estate group in the country.
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City of Sydney to include energy targets in new development applications
The City of Sydney has announced an Australia-first plan to include energy targets in development applications in a bid to make new buildings more energy-efficient and support the transition to net-zero emissions.
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Australian start-up pioneering AI technology in property management secures $1 million funding
Rental Heroes, a Melbourne-based prop-tech start-up founded in January 2019, has raised $1 million in a Seed Round to fuel the growth of their cutting-edge artificial intelligence (AI) technology.
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2021 REIWA Awards for Excellence winners announced
More than 400 Western Australian real estate professionals attended the REIWA Awards for Excellence at Crown Perth on Friday 21 May to celebrate and acknowledge the industry’s best and brightest.
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Regional rent prices rise at three times the rate of capital cities
Rental prices in Australia’s combined regional markets have increased by almost three times the rate as capital city markets over the past year.
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Deliveroo ruling should be watched closely by real estate sector
A landmark unfair dismissal judgment handed down in the food-delivery industry this week could have implications for the real estate sector.
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News Corp Australia and CampaignAgent announce alliance
News Corp Australia has announced an alliance with real estate finance technology provider CampaignAgent.
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New agency set to bring the ‘wow factor’ to Melbourne market
Jignesh Kapadia says his new agency – Luxon Real Estate – is about delivering something special to Melbourne’s real estate scene. “Whatever we do in terms of providing service to a client or vendor, or just a phone inquiry, we want to add ‘Wow!’ to it. My focus is, ‘How we can create experiences for vendors and purchasers which becomes…
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Demand for housing continues to outpace listing supply volumes
Demand for housing in Australia continued to outpace listing volumes in April, according to the latest data from REA Group.
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Planner says it’s time to urbanise the suburbs
With many homebuyers extending their property searches to outer-suburban areas over the past year, a leading urban planner says it's time to break the conventional suburban ‘housing estate’ mould.
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Regional housing market growth continues to outpace capital cities
Property value growth in Australia's regional housing market has far outpaced capital cities over the past 12 months, rising 13 per cent compared with a 6.4 per cent gain in capital city values.
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Domain and PEXA announce strategic partnership
Property portal and technology company Domain has announced a partnership with digital property settlement solution PEXA. The strategic collaboration is set to bring together both companies’ proprietary data assets to unlock new unique insights and value across the property market. This collaboration is the beginning of a relationship between Domain and PEXA, two companies that operate across highly complementary segments…
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Real estate. Done better!
A combination of innate hustle and a desire to create a better way of doing business compelled Antony Thompson to launch blac property group earlier this year.
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Industry heavyweights Rise to the challenge of mental health
Nine out of ten real estate agents in Australia experience high stress at work, and 65 per cent of those agents say that stress has led to mental health issues.
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Amazon Prime announces July premiere for real estate docu-series Luxe Listings Sydney
Production has commenced on an unscripted docu-reality series about the Sydney real estate scene.
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