Real Estate News
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Vacancy rates hit multi-year low in ‘landlord’s market’
It’s a landlord’s market, according to Domain’s latest Vacancy Rate Report, which showed the national rental vacancy rate at a multi-year low for the second consecutive month. November recorded national vacancy rates of 1.5 per cent, and showed rental prices were expected to increase with the opening of international borders bringing in a wave of new renters, according to the…
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Will house prices double by 2032?
It’s often claimed that house prices double every 10 years, which is a good thing for investors, but would pose a significant challenge when it comes to housing affordability over the next decade – particularly given how much prices have risen since the start of the pandemic. But is it true? According to Ray White Group Chief Economist Nerida Conisbee‘s…
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Fortis appoints The Agency as lead agent on Pillar+Tide
Fortis has appointed The Agency as lead agent for Pillar+Tide, a boutique luxury development in Brighton, with project sales led by Michael Paproth. The appointment marks the first project between The Agency and Fortis in Brighton.
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Why your contractor could be putting your business at risk
While many high performing sales agents prefer to be hired as contractors, rather than employees, the vast majority of contractor agreements leave agencies open to liability, should the relationship end.
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Hot property market cools as gap between buyers and sellers narrows
Price growth in Australia’s scorching property market has peaked and the first signs of a shift from an extreme sellers’ market to one that is more balanced have appeared, new data shows. The latest PropTrack Housing Market Indicators Report shows that while there are still a throng of active buyers in the market, for the first time since the pandemic…
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Alexander brothers become the first luxury brokers of the metaverse
You might not be able to touch it or even live in it, but the metaverse is gaining real life momentum, with Douglas Elliman’s Oren and Tal Alexander set to become the first luxury brokers of the virtual real estate world.
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The most rundown homes to sell for millions in 2021
You know the property market is hot when uninhabitable homes are selling for multi-million-dollar price tags. Peeling paint, mouldy walls and water damaged ceilings have been just some of the features found in rundown homes that have sent buyers into a frenzy across the country this year. Popular with developers as well as renovators, buyers have snapped up dilapidated homes…
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How Australia’s borders reopening will impact renters
Australian renters can expect to be hit with dramatic price rises as the nation’s borders reopen, according to experts. In this month’s Finder RBA Cash Rate Survey, 37 experts and economists weighed in on future cash rate moves and other issues relating to the economy, with 73 per cent predicting rental prices will rise sharply as Australia opens its international…
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Another win for Area Specialist, as top performer joins the network
Former Harcourts top performer, Marcus Washington, is the latest big name to join the Area Specialist real estate network.
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More than meets the eye: Transform XII finalists revealed
The finalists in Elite Agent’s Transform XII have been announced, with the Top 12 covering the gamut of sales and property management and boutique agencies as well as large networks. Similarly, the Top 12 are made up of business owners and team members, as well as having varying degrees of industry experience. The finalists, in no particular order are: Mel…
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Clearance rate slips below 70 per cent as volume continues to surge
Auction volumes couldn’t quite equal the record highs of last week, but still this week proved the second busiest auction week ever, with 4136 properties going under the hammer across the major capitals.
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No summer slowdown for auctions
As the property market gears up for another Super Saturday of auctions, data indicates November proved the busiest auction month on record
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The capital city predicted to record the strongest growth in 2022
Capital city property prices will continue to rise in 2022, peaking in the first half, then slowing sharply from the middle of the year, new data suggests.
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Last Big Four bank lifts its interest rate
The National Australian Bank has become the last of the major lenders to lift its fixed rate loans, closing the door on big four rates under 2 per cent.
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Investors back in the market but owner-occupier lending falls
New investor loan commitments rose for the 12th consecutive month in October, while lending to owner-occupiers dropped by more than $800 million, according to new data.
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Brisbane’s Matt Lancashire named Queensland’s highest selling agent
A combination of property and real estate IQ, effective processes, and a solid focus on vendors is the secret to success for Matt Lancashire, who has topped a list of Queensland’s top selling real estate agents for 2021. The Ray White New Farm principal placed ahead of McGrath Paddington’s Alex Jordan, the Gold Coast’s Michael Kollosche, the Managing Director of Kollosche,…
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Pearl Beach property bought for 78 pounds sells for $2.5 million
An unassuming home bought for just 78 pounds almost 100 years ago has just sold for $2.5 million at Pearl Beach on the NSW Central Coast. It’s the first time the four-bedroom home had been offered to the market since the original owner, Evelyn Smith, bought the land in 1928. Then part of the new Staples Estate, the 675sq m…
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Sydney apartments set to make a comeback
Sydney apartments are set to be back in favour come the new year, according to Sydney agent Adrian Wilson.
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How COVID-19 changed the way Victorians work, live, and play
Times have well and truly changed, and as a result, so have the wants and needs of Australians – including how and where they want to live. The pandemic has changed our collective priorities, and that’s reflected in PwC’s latest CityPulse 2021, which examines the liveability of Victorian suburbs. PwC Australia Melbourne Managing Partner Peter Konidaris said CityPulse 2021 unearthed…
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Optimism abounds, as new research reveals the state of Sydney’s CBD
The number of Sydneysiders working in the office tripled last month, according to the latest Office Occupancy survey by The Property Council of Australia. Property Council NSW Executive Director Luke Achterstraat said the survey revealed positive signs for Sydney’s CBD, with the office occupancy levels increasing from eight per cent to 23 per cent in November. “With lockdown restrictions lifting,…
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Perth property market gears up a notch
Perth has enjoyed its fourth consecutive month of increased sales activity, with a 9 per cent rise in volume during November, while price growth is also keeping pace.
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REIV appoints new CEO, as Gil King’s tenure comes to an end
The Real Estate Institute of Victoria (REIV) today announced that Quentin Kilian will succeed Gil King as the organisation's CEO from mid-February 2022.
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New program teaches young people the ABC of property investing
A real estate workshop that aims to remove the fear and uncertainty associated with stepping onto the property ladder has launched in Burpengary, Queensland. RE/MAX Living Principal Kathy Sweeney and team members Chanae Roma, Melanie Wilks and William Sweeney have started Asset Building Club (ABC), a workshop where young people, aged 18 to 30, can gain valuable insight into what…
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New Zealand’s momentum slowing
New Zealand property prices have continued to increase nationally in November, but have slowed compared to October, according to the latest data from CoreLogic NZ.
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Virtual land a hot commodity in the metaverse
Another block of virtual land has sold for an eye-watering amount, with a digital investor paying $4.3 million for an allotment in The Sandbox metaverse.
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Key number indicates a busy 2022 for real estate
The real estate industry could be in for a busy New Year, with Domain reporting increased appraisal volumes across the country as sellers ponder the prospect of taking their property to market in 2022.
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Rexlabs appoints new product managers
The real estate tech experts at Rexlabs have welcomed two new Product Managers into the fold.
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New research reveals Australia’s top family suburbs
New South Wales suburbs have dominated the top five spots in a new list of Australia’s best family housing markets. The research, commission by Well Home Loans, identifies the top 20 suburbs for families, with the NSW suburb of Horningsea Park coming out on top. Doug Vukojcic, property adviser for United Agents Property Group at Carnes Hill said the result…
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How property settlement period blowouts are impacting agency cash flow
If you’re an agent, you’ll know that the current tight market conditions have meant that settlement periods are expected to blow out, with some even extending far into next year.
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Real estate agencies among Australia’s most loved local businesses
Podium, the leading communication and payments platform for local businesses, has today announced the winners of Australia’s Most Loved Local Businesses, alongside COSBOA, the Council of Small Businesses Organisations of Australia. Podium, the leading communication and payments platform for local businesses, has today announced the winners of Australia’s Most Loved Local Businesses, alongside COSBOA, the Council of Small Businesses Organisations of…
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Double digit-growth boom for regional housing markets
Regional Australia is continuing to witness house value increases that outpace the capitals, with the best performing regions enjoying an annual rise of more than 30 per cent.
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Adele adds to $30 million Beverly Hills real estate portfolio
Singer Adele has increased her real estate holdings with another purchase in the Hollywood Hills, taking the combined value of her property portfolio to more than $30 million.
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The number one feature Australian homebuyers are looking for
With Australians spending more time at home than ever, it appears the backyard swimming pool is back in vogue, as homebuyers scramble to get ready for summer. According to Domain, the most searched term across all capital cities in October was, ‘pool’, ahead of other popular terms such as ‘home office’ and ‘courtyard.’ With Australians unable to travel overseas, and…
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26 Victorian suburbs join the Million Dollar Club
Melbourne property prices are booming and million-dollar homes are quickly becoming the new norm.
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Australia’s cheapest street to buy a home is in Western Australia
A tiny town in outback Western Australia with less than 500 people is also home to Australia’s cheapest street in which to buy property. Main Rd in Mullewa has a median house price of just $28,500, according to Ray White Chief Economist Nerida Conisbee. Mullewa, which is 99km east of Geraldton and 450km north of Perth, is known for its…
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