Real Estate News
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Elite Retreat 2022: It’s a wrap
We would like to thank our elite retreat ’22 event partners principal partner major partners supporting partners (click the images to view larger) Highlights from the conference sessions Sunday night “Welcome Party” – Presented by Connectnow Monday Night “Magazine Live” presented by Propic Tuesday night “YOT Club” presented by Kolmeo To find out about Elite Retreat 2023 CLICK HERE
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Quiet auction week sees clearance rate increase
It was the quietest auction week since mid-June, with 1471 homes auctioned across the combined capitals this week to return a preliminary clearance rate of 59.5 per cent.
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New building and construction solutions needed to address rental crisis
Better design, improved construction practices and new rental models could alleviate the risk of rental stress according to urban research experts.
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National vacancy rate drops to a record low
The national vacancy rate has tumbled to a record low, dipping under 1 per cent and heaping more pressure on tenants already struggling with rising rents.
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Demand for CBD office space slowly returns
Demand for office space remains solid as tenants slowly return to CBDs across the country.
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Falling investor lending to put pressure on renters
The rate of growth of new home loans to investors is slowing which could make it harder for tenants to find rental properties according to an expert.
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Fairlight cottage tipped to go from $3000 to more than $3 million
A Circa 1910 cottage that cost just $3000 about 60 years ago is now on the market with a price guide of $3.7 million.
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Sub-$2 million commercial market to remain strong
Commercial property valued under $2 million is likely to remain in demand, despite rising interest rates reducing the pool of buyers.
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Perth defies national trend as house prices continue to rise
Perth property prices have been able to buck the national trend and record a rise in values last month.
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New home loan values fall as interest rates rise
Rising interest rates are seeing homebuyers less willing to borrow, while at the same time house hunters are seeing their borrowing capacity slashed.
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Paris Jackson buys rustic Hollywood Hills retreat
Michael Jackson’s only daughter, Paris Jackson has sold the first house she ever owned and is relocating to the Hollywood Hills, after purchasing a US$3.8 million cabin.
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New Zealand property prices fall at fastest pace since the GFC
Property prices across New Zealand have continued to fall, with the rate of decline now at the same level as seen during the Global Financial Crisis.
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Lenders pricing for risk with rate discounts
Lenders are rewarding borrowers with lower Loan to Value Ratios (LVRs) by offering reduced interest rates.
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Another rate hike to curb the highest inflation in three decades
The official cash rate is now 1.85 per cent after the Reserve Bank of Australia opted to raise interest rates a further 50 basis points at its monthly meeting today. The increase marks the fourth consecutive month of interest rate hikes as the RBA seeks to moderate inflation that is now the highest it has been since the early 1990s.…
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South Australian property continues to buck the trend
The South Australian property market continues to show “resilience”, extending its record-breaking run of quarterly price increases.
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Don’t let FOMO ruin your home time
How many times have you said: “I wish I could turn off the phone after hours but just can’t risk it”?
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Adaptive reuse of old buildings on the rise across Australia
The redevelopment of old buildings across Victoria is starting to gather steam as developers look to find creative ways to utilise older buildings that have outlived their purpose.
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Brad Pitt buys a historic $40 million Carmel estate
Brad Pitt has set an area record with his US$40 million purchase of a century-old estate in California’s unincorporated Carmel Highlands community.
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Renters being forced to give up pets to find a home
Renters are being forced to choose between keeping their pets and being able to find a place to live, with hundreds giving up their pets each year.
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Another big name signs on to use Propic AI technology
One of Australia’s best real estate agents, Vivien Yap, will introduce Propic Artificial Intelligence technology to meet her clients’ expectations for 24/7 customer service.
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ANZ cuts new customer variable rates by up to 0.50 per cent
Despite the Reserve Bank of Australia hiking the official cash rate and fixed rate loans rising, ANZ has come out and cut new customer variable rates by up to 0.50 per cent.
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WA investors to sell up if tenancy laws change
More than half of WA property investors would consider selling their rental properties should significant changes be made to WA tenancy laws.
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Jeff Bezos’ parents buy $74 million Florida compound
Miguel and Jacklyn Bezos the stepfather and mother of Amazon boss Jeff Bezos are believed to have purchased two side-by-side mansions in Florida’s Coral Gables for US$74 million.
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Third week of increasing auction volumes
Auction activity has risen for the third consecutive week, with 1909 properties taken to auction across the major capitals to return a preliminary clearance rate of 58.8 per cent.
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Units outperform houses as buyers hunt for value
Buyers are on the lookout for more affordable housing options as rising interest rates make units more appealing.
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RBA a “near certainty” to raise rates next week
Australia’s hottest rate of inflation in 21 years means the Reserve Bank of Australia is a “near certainty” to hike the official cash rate 0.5 per cent on Tuesday, according to experts.
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Justin Bieber’s Hawaii vacation home hits the market
The infamous Hawaii vacation home Justin Bieber leased for his entourage in 2016 is on the market for US$9.95 million.
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Californian treehouse for sale for US$3.8 million
A Californian coastal property has given a whole new meaning to the word ‘treehouse’, with a massive oak tree winding its way straight through the one-bedroom house.
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Conan O’Brien lists his luxury beach house
Funnyman Conan O’Brien is selling his Santa Barbara beach house for a tidy profit, asking US$16.5 million.
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Home prices to fall 5 per cent by end of the year
Rising interest rates could see property prices drop by up to 5 per cent between now and the end of the year, according to a new report.
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Regional property price boom is not done yet
Regional cities like Albury-Wodonga, Tamworth and Bundaberg could continue to experience price growth despite the national property downturn.
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Office market leads the way as commercial sales break new ground
Commercial property transactions set a record pace last financial year, with buyers taking advantage of the low interest rate environment.
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New Zealand property prices face a test as interest rates rise and sales volumes fall
The New Zealand property market is going to face a “test” as rising interest rates and a wave of refinancing jolt the market in the next 12 months.
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Doja Cat selling her Beverly Hills home
TikTok meme queen-turned-international popstar Doja Cat has listed her Beverly Hills Home for US$2.495 million.
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One in five first home buyers take a year to buy a property
Tight supply and rapidly rising prices has seen many first home buyers taking over two years to purchase a property.
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