National
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National agreement reached on building reforms
The Property Council of Australia has welcomed today's agreement by Commonwealth, State and Territory building ministers on a national approach to implementation of reforms which will lead to better enforcement and compliance with building standards and regulation. Ministers have agreed to progress the Shergold Weir reforms through the Australian Building Codes Board (ABCB). Property Council…
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Satellite cities take top spots in population popularity contest
Satellite cities and major regional centres are attracting more Australians than capital cities, with the number of Sydneysiders relocating at an all-time high and the Gold Coast becoming the most popular place to move to in the country. According to property market research firm Propertyology, Queensland, Hobart and parts of regional Victoria and New South…
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The Agency delivers strong results
The Agency Group has bucked the trend by delivering a strong June Quarter 2019 including top results in key areas, despite the lingering property market downturn. The company reported its busiest quarter on record in some areas, with a nine per cent jump in number of exchanges to 674, and its highest number of properties…
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Queensland leads the way in market recovery
Demand has started to increase in the property market on the back of the recent federal election results and interest rate cuts, with Brisbane and Mackay in Queensland leading the road to recovery. REA's Property Outlook for July has revealed the "ScoMo bounce" and two interest rate cuts were breathing new life into Australian property,…
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Housing affordability best since 1999
Housing affordability is the best it's been in 20 years, according to the latest HIA figures. HIA Senior Economist Geordan Murray said the figures, gathered from the HIA Affordability Index for the June 2019 quarter, are thanks to a combination of lower home prices, improvements in wage growth and lower interest rates. “For a home buyer…
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EBM RentCover focuses on educating landlords
For property owners, putting your largest asset in the hands of a tenant who you’ve never met and know little about can be a risky business – and EBM is trying to get the word out. EBM RentCover Managing Director of Sharon Fox-Slater said the company has recently rebranded and she was excited to continue…
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Inaugural PM Retreat declared a success for Raine & Horne
Raine & Horne recently hosted its property management conference in the NSW Hunter Valley, where speakers used the theories of creative thinking expert Edward de Bono to enhance their daily problem-solving expertise. Held at the magnificent Crown Plaza Hunter Valley, the theme of the inaugural Raine & Horne Property Management Retreat was ‘One Percent Better’…
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Ray White’s innovative Apartment Collective reinvigorates the auction process
An innovative new auction approach has earnt a huge tick of approval from both buyers and sellers and is set to shake up the way the industry approaches older stock. Ray White’s recent Apartment Collective, an initiative to rejuvenate older stock has been hugely successful, selling 12 properties with a combined value of over $6…
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APRA Lending guidelines and income tax cuts provide welcome confidence boost
The Property Council of Australia has welcomed the softening of residential mortgage lending guidelines and the Government's income tax cuts, noting the initiatives provide a welcome shot of confidence for the property sector at a critical time for the Australian economy. Responding to APRA's decision last week to remove the 7 per cent interest rate…
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Purplebricks confirms US Exit
After announcing earlier this year their intention to exit the Australian market, Purplebricks have confirmed to investors that the group will withdraw from the US business which began trading in 2017. In the financial year just ended (April 30) Group revenue increased by 55 per cent to GBP 136 million and UK revenue was up…
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Variable mortgage rates fall below 3 per cent following RBA’s second consecutive cut
Variable mortgage rates in Australia have hit a new low following the historic decision by the Reserve Bank of Australia to cut the cash rate to 1 per cent. Late this afternoon, RateCity.com.au confirmed Reduce Home Loans was among the small lenders embracing the latest cut, slashing its lowest rate by 0.20 per cent to…
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Property prices start to recover in Sydney and Melbourne
There are some positive signs for property prices on the East Coast as both Sydney and Melbourne have posted monthly gains for the month of June. Values in Australia’s two major housing markets were up 0.2 per cent in Melbourne and 0.1 per cent in Sydney for the month, according to the latest figures from…
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Insurance crisis threatens construction sector
An impending insurance crisis risks bringing the construction sector to a halt unless Commonwealth, state and territory governments can work together to resolve the issue. The Property Council of Australia has called for an industry roundtable on resolving the insurance crisis, as many building and construction businesses face closure over the issue. They said it…
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Getting Your House in Order: Tax Tips for the EOFY
With the EOFY year approaching, now is the perfect time to start getting your taxes in order in a bid to maximise your after-tax income. Here are some useful tips for real estate professionals. As the EOFY closes in, the clear advice for real estate professionals from the ATO is to know your deductions and…
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