NSW Real Estate News
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A sale a day in April for $99.87M
Powerhouse agency Ray White Double Bay just sold 30 properties for $99.87 million in April and the outlook is even brighter for the blue chip agency with increases in stock and prices. Craig Pontey, director of Ray White Double Bay, was incredibly proud of his team to sell “the equivalent of a property a day in April, it’s quite an…
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Inner Sydney Agency Chalks Up 40-year Milestone
Sydney property figure Warwick Williams is preparing to celebrate the 40th anniversary of the Drummoyne real estate business he founded in 1977. The agency has grown from a humble four-person operation with a modest rent roll to become one of the largest independent real estate operations in Sydney’s vibrant inner west. Today, Warwick Williams Real Estate is Drummoyne’s leading agency…
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Highland Property Agents gives back to the community
Highland Property Agents is celebrating their tenth birthday this year and attribute their success to their community spirit and innovative approach to the industry. Speaking exclusively to Elite Agent, CEO David Highland said, “we have outworked our competition and new ways to be innovative”. Focused on creating a positive atmosphere for staff and promoting an environment everyone can perform to…
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Vacancy rates tighten in Sydney while Airbnb has a win
Residential vacancy rates have fallen across the Sydney market led by solid falls in availability in Middle Sydney, according to the Real Estate Institute of New South Wales. REINSW President John Cunningham said the March 2017 REINSW Vacancy Rate Survey saw the Sydney metropolitan market down 0.2 per cent at 1.7 per cent. “Middle Sydney led the fall in rental…
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Cobden & Hayson expands to six offices in Sydney
Boutique agency Cobden & Hayson is strategically growing through Sydney’s inner urban fringe with the launch of their fifth and sixth offices in the popular Marrickville and Surry Hills areas. The Marrickville office has just opened as a full-service real estate agency with both residential and commercial and industrial sales and property management departments. The creative force behind the inception…
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Heath Dockary team joins Di Jones
The strategic expansion at Di Jones Real Estate continues with the Northern Suburbs team growing through the appointment of high-profile agent Heath Dockary and his support team. Dockary has been recognised in the top 25 agents across the McGrath network for several years and in the top five percent of all agents in NSW. Di Jones Real Estate CEO Rob…
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RE/MAX Australia Seeks Buyers from China with New Juwai.com Partnership
RE/MAX Australia and RE/MAX New Zealand have announced a new partnership agreement with Chinese portal Juwai.com for full Chinese translation of listings. Whilst RE/MAX listings will continue to be bulk uploaded to Juwai.com in English, the new partnership provides RE/MAX agents and their vendors the option to upgrade individual listings with full Chinese translation and a superior listing rank for…
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Aussie startup just became your ideal housemate
House sitting just got a makeover with My Home Watch (MHW), a GPS tracked, live streamed, paid-for service that helps homeowners do a range of things pertaining to their housing needs while away from the property. From putting the bins out and looking after pets and plants to taking the mail and papers in and checking for pest infestations, MHW…
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Axing Of 457 won’t impact vacancy rates, say REINSW
The axing of the 457 visa schemes will only have some bearing on the rental markets in several parts of Sydney such as the iconic Bondi beach and upmarket suburbs like Manly, the Real Estate Institute of New South Wales (REINSW) said. REINSW president John Cunningham said there would be some areas in Australia where the banning of the 457…
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First National Expands Footprint
Cooperative brand First National Real Estate has expanded its network of offices nationally, opening 35 new locations in the past 12 months. Much of the growth, they say, is centred in New South Wales, Victoria, Tasmania and Queensland. Chief Executive, Ray Ellis, attributes the rapid increase to First National’s operating model and its membership’s supportive culture. “First National Real Estate’s…
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Airbnb War Needs Government To Legislate A Truce Says Industry Expert
The war between Airbnb and apartment owners is only going to get worse unless the government takes decisive action to regulate the short-term letting industry, said strata industry expert Paul Morton. The New South Wales government is due to give its response to the report of the Parliamentary inquiry into Airbnb next week and Morton, the managing director of Lannock…
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New Home Approvals Hits A Six-Month High: HIA
New building approvals for February has hit a six-month high the Housing Industry Association (HIA) said in a statement on Monday. HIA senior economist Shane Garrett said new dwelling approvals for February reached its highest level since August of last year, according to figures released by the Australian Bureau of Statistics. In seasonally-adjusted terms, total new dwelling approvals increased by…
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R&W Opens New Illawarra Office
The Richardson & Wrench group has opened a new office in the fast-growing Illawarra region which will start trading on Monday. Known as R&W Dapto, the new office marks the return of the franchise to the Illawarra region after an absence of many years. R&W Managing director Andrew Cocks said the combination of Sydney’s growing population and housing affordability pressures…
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Liverpool real estate agency merges with Starr Partners
In a statement made by the company on Monday, Liverpool-based Metro Professionals, following a recent rebranding, will now be known as Starr Partners Liverpool. Company director Gavin Belci said the name change comes after it had merged with Starr Partners earlier in the year to future-proof its business further which has been operational for the last 20 years. “Joining Starr…
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Raine & Horne Rural Sydney appointed by private agribusiness funds to secure quality assets
Raine & Horne Rural Sydney has won the bid to identify and secure primary production agriculture assets on behalf of several local and global agribusiness funds. To facilitate the engagement, Raine & Horne Rural Sydney has finalised a joint venture with aviation firm, Fleet Helicopters, to help transport its high-profile clients and investment fund managers to property inspections across Australia.…
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Leading agent joins Ray White Menai
Attracted to the team culture and business values, well regarded local Menai agent Lene Mitchell has joined the Ray White team. After nearly ten years of owning and operating her own real estate business, Lene brings with her extensive experience across both sales and property management. “I really respect Matt and Gavin and what they’ve built – they’ve got a…
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Home Values Rise To Unprecedented Levels says CoreLogic March Report
Best performing capital city: Hobart +5.6 percent Weakest performing capital city: Darwin -3.1 percent Highest rental yields: Hobart & Darwin with gross rental yield of 5 percent and Hobart units at 5.6 percent Lowest rental yields: Sydney & Melbourne houses with gross rental yield of 2.7 percent and Sydney units at 3.7 percent Most expensive city: Sydney with a median…
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First National Real Estate top Victorian and Tasmanian Agents Honoured
First National Real Estate’s Victorian and Tasmanian agents were presented with their General Excellence and Marketing Awards at a dinner hosted last week. The awards brought recognition to the best of both states’ real estate performances throughout last year, which according to First National Victoria Chairman, Rob Westwood, contributed to First National Real Estate winning Canstar Blue’s ‘Most Satisfied Customers’ award…
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Former McGrath sales director now the Agency’s new CEO
Ausnet Financial Services has appointed Sydney-based Matt Lahood as the Agency’s first CEO, effective immediately, the company told the ASX in a statement on Monday. Lahood who most recently held the position of director of sales for McGrath real estate comes with more than 28 years’ of industry experience, the company said. “I am very excited about my new role at the Agency as…
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Laing+Simmons Parramatta donates $23,400 to Westmead hospital
Real estate agency Laing+Simmons Parramatta has donated $23,400 to Westmead Medical Research Foundation (WMRF) after a successful fundraising ceremony conducted by the office last year. As part of its agency’s 21st anniversary celebrations held last year, the agency decided to partner with WMRF to raise much-needed funds for medical research and critical care at the Westmead hospital. The campaign was…
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Agents Get Together For The Second Time For Real Estate Sleep Out
Auctioneer Damien Cooley is calling for the real estate industry to sleep on the iconic Bondi Beach for one night on July 24 to help raise $500,000 for charity. Known as the Real Estate Sleep Out and held for the second time, this year’s event is looking at getting 500 agents to raise half a million dollars for Father Chris…
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NSW state government still has its work cut out, says Property Council
Despite the good work, the New South Wales (NSW) government still has its work cut out for them when it came to all things housing, Property Council of Australia has said. The council’s executive director Jane Fitzgerald said the government should be congratulated for strong economic growth, infrastructure investment and a renewed focus on the regions, yet housing affordability, a…
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Transitioning from agent to principal: how Eric Li of Ray White made it work
Eric Li was only two years into his real estate career when he opted to take the challenge to take charge of Ray White Sunnybank Hills last November and has hit the ground running and sold seven properties in his first month as a principal. In five months, the office has grown from three team members to 11, and Li…
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Stone real estate to expand to 30 offices by year-end: CEO Peter Mumford
Sydney-based Stone Real Estate plans to grow its offices from current 13 to 30 by the end of the year, its CEO and founder Peter Mumford has said. Mumford, a former McGrath agent who started the business two years ago with the first office set up in Lane Cove, said this year’s expansion plans would be executed throughout various parts in…
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New Raine & Horne Kingsford and Kensington in Sydney Run By Two Experienced Eastern Suburbs Agents
Raine & Horne has continued its aggressive expansion to Sydney with the launch of a new office in Kingsford, in the city’s east by two experienced Eastern suburbs real estate agents Sam Karatasas and Andrew Yong. “Sam (Karatasas), who worked for one of our inner Sydney offices in the mid-1980s, currently holds some street sales records in Kensington and Kingsford,”…
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Real Estate Industry Heads Down The Professional Path
The Real Estate Institute of New South Wales (REINSW) has lauded the New South Wales government for provided the institution with the education foundations to pursue a profession recognition. REINSW president John Cunningham said the need for greater accountability and transparency in the ever increasing complexities of property transactions has led to a clear need for recognisable property professionals who…
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Too little supply and ample demand is the main reason why rentals are hard to find:REINSW
Residential vacancy rates have slipped across the Sydney market with many finding it more difficult to secure a rental accommodation, the Real Estate Institute of New South Wales (REINSW) has said. It’s president John Cunningham said the REINSW vacancy rate survey in February saw the Sydney metropolitan market down 0.2 percent to 1.9 percent. “Inner Sydney led the fall in…
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Infrastructure boom will reduce Sydney’s “door-to-desk” times, predicts Raine & Horne
With tens of billions of investment dollars making NSW a world leader in infrastructure, faster commutes are set to boost property values, and quality of life, Raine & Horne, executive chairman Angus Raine said. “Major infrastructure projects such as the Sydney Metro Northwest, WestConnex, NorthConnex and the upgrades to the Princes Highway on the NSW south coast are set to…
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RBA may further curb foreign lending towards overseas investors
There is a possibility that the RBA could take further macro-prudential measures in stifling lending towards foreign investors in order to give more locals the much-needed break into its own housing market, particularly on the east coast of Australia. Referencing the 2014 macroprudential measures which included cap on investor lending growth and more prescriptive loan serviceability guidelines, Assistant RBA Governer…
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Real estate agency Di Jones expansion intensifies
The expansion at Di Jones Real Estate continues with the team at Wahroonga being bolstered by the appointment of two renowned sales agents from McGrath Pymble. Di Jones Real Estate chief executive Rob Ward said the appointment of Valerie Latham and Linda Ratcliff would now see its staff numbers at the Wahroonga office increase to 23. “Combined, Valerie and Linda…
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Laing+Simmons MD says NSW gov should do more to help first home buyers into the market
The Reserve Bank (RBA) has left interest rates on hold as expected, piling more pressure on the New South Wales (NSW) government to take the lead out of its Victorian counterpart and introduce strategic measures to support first home buyers. Laing+Simmons managing director Leanne Pilkington said interest rates were at their lowest point in the cycle particularly from the bank’s’…
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Leah Jay honours its all girl dream team on International Women’s Day
Newcastle-based property management company Leah Jay is acknowledging its 50 female staff today, International Women’s Day. Twenty-two years after the business was founded, the company has grown from strength to strength to four offices with 50 staff – all of whom are women. While the predominance of female workers not unusual within the property management sector, the fact that all…
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The Agency sells $10 million worth of Sydney properties in a day
Perth-headquartered The Agency has another successful weekend of auctions in Sydney last week, turning over $10 million worth of properties in a day. The company announced that of the seven properties up for auction on February 25, six of those were either sold at or before the sale at a clearance rate of 85 percent. “The sale of six properties,…
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REINSW calls on NSW to follow Victoria’s lead on stamp duty
A decision by the Victorian Government to abolish stamp duty for first homebuyers for purchases below $600,000 should propel the New South Government to also meaningfully tackle housing affordability. REINSW President John Cunningham said premier Gladys Berejiklian must put meaning behind her assertion that housing affordability is the number one priority for her government. “Victoria has acted,” Mr Cunningham said.…
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Foreign investors leaving investment properties vacant
The full impact of foreign investment on Australia’s housing crisis is yet to be seen across the Eastern seaboard according to Douglas Driscoll, CEO of Starr Partners. Scores of foreign investors are acquiring property in desirable metropolitan areas only to leave them uninhabited, estimating the number of unoccupied dwellings in Sydney to be more than 200,000.We know that the current affordability…
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