NSW Real Estate News
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Reduce cost of stamp duty by 50 percent for retirees and see how housing supply rises, says REINSW
The Real Estate Institute of New South Wales (REINSW) is calling for the state government to give a 50 percent discount to retirees with dwellings, adding that the move will help increase necessary housing supply. REINSW President John Cunningham said the discount should also be extended to upgraders who had intentions to sell but choose not to due to the…
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Di Jones opens new space in Southern Highlands, to capitalise on local growth
Young Sydney families are slowing moving away from the hustle and bustle of city life and into the Southern Highlands due to its value and lifestyle offering, a real estate agency has suggested. Di Jones Real Estate who first established an office in Woollahra in 1992 has decided to capitalise on the trend of migrating home buyers by opening its…
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Sydney densities spreading to the Southern Highlands
High-density living is spreading well beyond Sydney, with properties for sale in the Southern Highlands increasingly on blocks of 500 square metres or less, according to a Mittagong builder. Thirty-year Southern Highlands building veteran, Steve Turland of ‘S Turland Building’ said it was now difficult to find acreage in his hometown of Mittagong. “Blocks are getting smaller and smaller. It’s…
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NSW rental markets influenced by festive season: REINSW
Latest data compiled by the Real Estate Institute of New South Wales (REINSW) shows that rental markets were greatly influenced by the festive season and summer holidays. REINSW president John Cunningham said the institute’s January vacancy rate survey revealed that Sydney metropolitan market was up significantly whenever holidays was just around the corner. “Inner Sydney and Outer Sydney saw an…
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Former RBA governor asked to help NSW govt tackle housing affordability woes
Newly appointed New South Wales premier Gladys Berejiklian has recruited former Reserve Bank of Australia (RBA) governor Glenn Stevens to provide input on how to making housing in the state more affordable. Berejiklian told NSW Parliament on Wednesday that Stevens had accepted a personal invitation to provide input into the strategy. “The NSW government understands that housing affordability is top…
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Andrew Crauford appointed as Ray White NSW new Sydney Metro chief
After seeing exponential growth in 2016, Ray White NSW has announced that Andrew Crauford has assumed the position of CEO – Sydney Metro. Mr Crauford’s new role will see him take charge of the southern, western and northern Sydney suburbs, outside of the inner-city markets, to ensure Ray White businesses are operating at their optimum. “I’ve got the utmost respect…
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Coldwell Banker gives away free perfume and red roses on Valentine’s Day
Coldwell Banker South West Realty in Wattle Grove is giving away a small bottle of perfume, and a single red rose to anyone that says the words “I Love Coldwell Banker” at their office premises on Valentine’s Day. The freebies are limited and would only be given out to those visiting the agency between 10 am and 4 pm. The…
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LJ Hooker encourages lifelong training for its real estate agents via new software
LJ Hooker will invest $100 million in the next three years to accelerate the real-estate industry’s digital transformation with a mission to turn Australia into the world’s most advanced and well-served property market. The initiative will kick start with the unveiling of LJX-Lab, a digital research and development vehicle which they say will foster innovation through identifying, incubating and commercialising…
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Jason Andrew joins Ray White as its new CEO-Sydney
Ray White NSW has announced Queensland auctioneer Jason Andrew as assuming the position of CEO – Sydney. Under Andrew’s leadership, Ray White’s brand presence in Sydney’s most prestigious suburbs is set to strengthen even further through him bringing his real estate business knowledge to the fore. In this newly created role, Andrew has been tasked with increasing Ray White’s stronghold in the…
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New NSW Cabinet line-up welcomed by Green Building Council of Australia
The Green Building Council of Australia (GBCA) has welcomed the New South Wales cabinet and is looking forward to work with Premier Gladys Berejiklian and her team to build a healthy, livable, sustainable future. Anthony Roberts, who has previously held the position of Energy Minister, takes on the role of Minister for Planning and Minister for Housing, while former Attorney-General…
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Raine & Horne expands to Sydney’s Turramurra with new office
In a bid to capitalise on the strong Sydney’s north shore real estate market, leading agency, Raine & Horne will open a new office at Turramurra, situated at the corner of Pacific Highway and Kissing Point Road, on February 1. The new set-up comes after the franchise had launched offices in nearby suburbs such as Hornsby, Lindfield, North Sydney, Crows…
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Home formerly owned by late Aussie businessman Rene Rivkin up for sale
A Hawkesbury River-fronted property built by the late Australian entrepreneur Rene Rivkin 20 years ago, and extensively renovated by the current owner, will go to auction with price expectations above $5 million. Built with whole Australian Cypress logs grown in NSW, the property sits on 10 acres which it shares with Sentry Rock, the landmark believed to be used by…
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REINSW’s Tim Anderson recognised with OAM
Long-standing member of the Real Estate Institute of New South Wales and Life Fellow Tim Anderson has been recognised with the Medal of the Order of Australia in the General Division (OAM). REINSW CEO Tim McKibbin said throughout his career, Tim Anderson has actively promoted professionalism and integrity in the industry and has applied these attributes to all his activities.…
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New NSW Premier to prioritise housing affordability, industry reacts
Just hours after being elected as New South Wales (NSW) 45th Premier, Gladys Berejiklian has vowed to address the much-touted housing affordability crisis and has made that her top priority while in government. “I want to make sure that every average, hard-working person in this state can aspire to own their own home,” Berejiklian told a media conference after being…
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Premier Mike Baird leaves strong legacy, says Property Council NSW
In response to Mike Baird’s announcement to retire, the Property Council NSW has congratulated the outgoing NSW Premier on the strong legacy he will leave for the people of the state. Property Council NSW Deputy Executive Director Cheryl Thomas has commended Premier Mike Baird for implementing a range of reforms that have placed the state in a good economic position. “True to his…
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Holiday season impacts vacancy rates: REINSW
Residential vacancy rates were affected by the Christmas period, according to data released by the Real Estate Institute of New South Wales. REINSW President John Cunningham said the December 2016 REINSW Vacancy Rate Survey was at 2.0 per cent, up 0.2 per cent for Sydney. “Middle Sydney and Outer Sydney saw rises of 0.6 per cent and 0.2 per cent…
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Laing+Simmons Scholarship Winner Lands Full-time Role
Prospect local Julia Sallows has been unveiled as the winner of this year’s Laing+Simmons Scholarship Program, the annual initiative designed to unearth talented agents of the future and kickstart their career in real estate. Julia’s win sees her join leading local real estate office Laing+Simmons Blacktown, where she’ll work alongside experienced sales specialist Mark Stone. Julia completed a week’s work…
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NSW property industry rings in the new year with a bang
The NSW property industry is expected to have a positive outlook this year with higher expectations for growth, investments and hiring taking place across the state, said the latest ANZ/Property Council survey. “NSW industry confidence leads the nation at 149 index points, up from 142 last quarter and is at near six-year highs. Over the twelve months to March 2017,…
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South Coast home goes under the hammer for Cystic Fibrosis community: LJ Hooker
Research and support for Australia’s cystic fibrosis community will be boosted when a South Coast home built entirely through business and community generosity goes under the hammer on January 28. The LJ Hooker Foundation – the charitable arm of LJ Hooker offices nationwide – will donate the full purchase price of the three-bedroom, two-bathroom home at Malua Bay, New South…
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EP&A Act undergoes proposed amendment as a way to boost housing supply in NSW
The Property Council of Australia (PCA) has welcomed New South Wales (NSW) state government’s move to amend the Environmental Planning and Assessment Act 1979 (EP&A Act) as a way of boosting housing supply and therefore affordability. PCA NSW executive director Jane Fitzgerald said the amendments were needed because a better planning system would help increase supply and make buying a…
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NSW Federation Council moves in to save iconic Castle home from being demolished
The iconic home that was used in the filming of Australia’s cult film the Castle which was in danger of being demolished will instead be placed at new a location with plans of turning it into a tourism attraction by year-end. New South Wales Federation Council administrator Mike Eden told Elite Agent that the iconic home would be moved from…
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Crown Group’s Skye rooftop pool akin to world’s top five-star hotel swimming pools
Residents living at Crown Group’s latest development Skye are in for a treat this summer as access to the $200 million tower’s rooftop pool has been opened to its occupants since last week. Inspired by several prestigious five-star hotel swimming pools including Singapore’s Marina Bay Sands, Skye’s infinity pool which are 20 stories above street level comes equipped with stunning…
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Changes to Rental Bonds Online (RBO) from 30th January
From 30 January 2017, changes to the Residential Tenancies Act 2010 (the Act) make it mandatory for landlords and real estate agents to invite tenants to lodge their rental bonds using Rental Bonds Online (RBO). The amendment does not change any other provisions in the Act, including those relating to the lodgement and claims for bonds. Landlords and Real Estate…
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Increasing professional standards a priority: REINSW
Increasing professional standards in the real estate industry has been recognised by agents and industry leaders who attended the Real Estate Institute of New South Wales’ fourth annual Industry Summit last month, as a priority. REINSW President John Cunningham said over 100 delegates gathered at the Sydney Opera House on 24 November 2016 to discuss and debate ‘The Path to…
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NSW, you can’t dine out on stamp duty forever: Leanne Pilkington
Laing + Simmons Managing Director and incoming REINSW President, Leanne Pilkington has penned a cautionary memo to the NSW Government telling them, they cannnot continue to dine out on NSW stamp duty revenues – highlighting the issue of housing affordability in the state, particularly in Sydney. Here is the full release: MEMO TO NSW GOVT: YOU CAN’T DINE OUT ON STAMP…
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Real Estate Veteran Returns to Ray White
An agent with nearly 30 years experience as a real estate agent, principal, auctioneer and trainer has recently taken over the Ray White Balmain office. David Meadowcroft, who joined the industry in 1988, has experience leading both sales and property management businesses. He said joining Ray White largely came down to the opportunity on offer in the Inner West. “The Ray…
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Property Market Forecast, Sydney 2017: Douglas Driscoll
Sydney’s property market could be set for change in 2017 according to Douglas Driscoll, CEO of award-winning real estate group Starr Partners. Read his forecasted market trends for Sydney for 2017. Rate hikes on the horizon. There are already conversations bubbling over a possible rate rise in 2017 and I can almost guarantee that the banks will increase rates again…
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R&W Merger forms largest real estate agency in North Sydney
Two of the most successful real estate agencies in North Sydney have merged to form one office under the Richardson & Wrench brand. Richardson & Wrench (“R&W”) North Sydney have merged with First National North Sydney, making it the largest office of its type in North Sydney and one of the few to have a ground floor presence in the…
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NSW strata law reforms come into effect: REINSW
Years of consultation and review have resulted with significant reforms to NSW strata laws commencing on 30 November 2016. REINSW President John Cunningham said over 90 new strata laws will make a difference to the lives of those living in New South Wales. “These reforms will benefit owners, tenants and property managers and bring the laws in line with current thinking,”…
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Sydney real estate boom drives R&W Hunter expansion
The surge of Sydney buyers forced out of Sydney in the hunt for value and affordability is changing the face of real estate in regional NSW. Richardson & Wrench today (November 25) adds a second Hunter Valley independent to its network, with the signing of Thomas Real Estate, a third generation family real estate business in the growth region of…
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Stamp duty hampers property transactions: REINSW
Homeowners are electing to undertake renovations rather than sell their properties in an attempt to avoid stamp duty, according to the Real Estate Institute of New South Wales. REINSW President John Cunningham said the number of property transactions had hit a four-year low for the month of October 2016 according to data from the NSW Office of State Revenue. “The…
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Sydney vacancy rates tighten: REINSW
Residential vacancy rates have tightened across the Sydney market as new accommodation is snapped up across the city, according to data released by the Real Estate Institute of New South Wales. REINSW President John Cunningham said the October 2016 REINSW Vacancy Rate Survey was at 1.7 per cent, down 0.2 per cent for Sydney. “We have seen an increase in…
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Retail lease reforms support SMEs: REINSW
The retail leasing industry and small businesses throughout NSW will benefit from retail lease reforms introduced into State Parliament, according to the Real Estate Institute of New South Wales. REINSW CEO Tim McKibbin said amendments to the Retail Leases Act 1994 (NSW) will make doing business easier for tenants, agents and landlords on the retail strip. “Some 44,500 retail businesses…
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Meriton preparing a pre-xmas triple treat
Australia’s apartments pacesetter, Harry Triguboff, is paying no attention to talk of a Sydney market slowdown by unveiling his Meriton group’s plans to release three new projects, collectively worth more than $1 billion, before Christmas. The projects are in Dee Why, Rosebery and Mascot and they are coming on to the market on the heels of Mr Triguboff launching the biggest…
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Real Estate and Property Industry Reforms Paper Released
The NSW Government has today released a Real Estate and Property Services Industry Reform Paper, outlining the Government’s vision for the state’s $15 billion real estate and property sector. The paper contains a strong focus on raising training standards, increasing transparency and accountability and strengthening trust account processes. It is currently anticipated that the new laws will be in place in…
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