Real Estate News
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Yvette Mimieux’s stunning $45 million Bel Air estate for sale
Home to one of old Hollywood's most glamorous couples, Il Sogno (the dream) has come on the market at US$45 million.
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Expats and international investors stoking the local market
International investors and expats looking to return home to Australia are continuing to show strong interest in many markets across the country and are contributing to upward pressure on house prices.
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WA extends its rent relief scheme
The WA State Government has extended the Residential Rent Relief Grant Scheme (RRRGS) which aims to help tenants facing financial hardship.
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Profit-making resales jump thanks to hot property market
The number of home owners selling their property at a profit jumped in the March 2021 quarter thanks to the record run for property prices.
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Ray White welcomes new chief auctioneer for Queensland
Ray White has welcomed award-winning auctioneer Gavin Croft back to the group with open arms, as chief auctioneer for Queensland. Ray White Queensland CEO Jason Andrew labelled Brisbane-based Gavin Croft as “one of the finest auctioneers in the country”. “After being appointed as the chief operating officer of Ray White New Zealand in early 2020, COVID impacted Gavin and his…
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NSW Budget isn’t giving back to housing after stamp duty boom
The billion-dollar stamp duty surge generated by pandemic stimulus will see the New South Wales (NSW) Budget return to surplus sooner than expected. But the windfall isn’t being directed into urgently solving NSW’s social and affordable housing crisis. The Australian Institute of Architects NSW Chapter President Laura Cockburn expressed her disappointment with the lack of attention to the housing crisis.…
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REISA welcomes new budget but seeks more focus on housing
The Real Estate Institute of South Australia (REISA) has welcomed the continued emphasis on infrastructure throughout the region, but was concerned with the lack of investment in the housing sector. The 2021-22 State Budget handed down by the South Australian (SA) Treasurer Rob Lucas maintained a strong economic focus but should have included more assistance for the property sector, according…
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Housing policy changes have had little effect on the NZ market
Three months on from the New Zealand government’s housing policy, CoreLogic reveals the changes are yet to have a discernible impact on the market. CoreLogic Head of Research Nick Goodall admits it’s “still early days”, after the New Zealand (NZ) government policy was announced on 23 March this year. “It’s hard to disentangle the government’s bright-line extension and tapered removal…
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SA Budget misses chance to get empty nesters moving
The South Australian Budget has delivered a huge $17.9 billion in infrastructure, which was set to underpin the state’s robust real estate markets and future growth. However, Raine & Horne SA General Manager James Trimble said the Budget was a missed opportunity. Mr Trimble said Treasurer Rob Lucas should have encouraged empty nesters to downsize into smaller homes in Adelaide…
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Ray White family set to sell Ascot home
The family of real estate giant Ray White are set to sell their cherished Brisbane home. Located in Brisbane’s illustrious Ascot, the classic federation home is scheduled for auction on 17 July with Ray White New Farms leading prestige agent Matt Lancashire. It’s the family home of Ray White Group Chairman Brian White and wife Rosemary, who have owned it…
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Propic and MRI Software join forces to bring conversational AI to property managers
Conversational artificial intelligence (AI) will be used to improve the customer experience and potentially save property managers from burnout, courtesy of a new deal between Australian PropTech startup Propic and MRI Software.
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Ray White Gold Coast raises the bar with star agent arrival
The Ray White Group is thrilled with their recruitment of a local up-and-coming agent on the Gold Coast.
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REIA urges Australians to use deposit schemes
Thousands of Australians have been given their first real chance to buy their own home.
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Industry icon Tony Abboud and his team join The Agency
The Agency has welcomed the news renowned Sydney agent Tony Abboud and his team are set to join the growing brand. With 41 years experience in the industry as a successful business owner, property consultant, trainer and mentor, Mr Abboud is considered a true industry legend, The Agency explained. Mr Abboud’s Snowden Parkes brand has been a dominant force in…
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Katie Cotton joins Ray White Queensland
Ray White has announced the appointment of Katie Cotton as Chief Growth Officer for Queensland The Announcement: Ray White Queensland will soon welcome highly regarded real estate professional, Katie Cotton, to its growing corporate family. In her new role as Chief Growth Officer for Queensland, Ms Cotton will develop strategic plans to drive growth for the leading network in the…
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Sunnybank welcomes ‘Supreme’ service
RE/MAX Australia has announced the opening of RE/MAX Supreme in Sunnybank, Queensland, under the leadership of broker owner Gordon Sui. The successful businessman has worked tirelessly to achieve whatever he sets his mind to since immigrating to Australia from China in 2003, but it is his latest business venture as a franchise owner, alongside his business partner Jessica Suen, which…
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The hot new search term for homebuyers
The world has changed dramatically over the past 18 months and as a result, the types of homes people are wanting to buy has also seen a dramatic shift. According to realesate.com.au, the most popular search term is now ‘study’, indicating that many people are clearly changing the way they work and live. With lockdowns continuing to wreak havoc in…
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235 Perth suburbs have median rents below their peaks
The Perth rental market is significantly more affordable than it used to be, with reiwa.com analysis showing 235 suburbs had median house rents below their peak prices in May 2021. REIWA President Damian Collins said the vast majority of Perth suburbs were more affordable for tenants than they used to be. “reiwa.com analysis shows 201 of the 235 suburbs had…
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The world’s largest housing bubbles
Australian housing prices have been on a record run over the past 12 months, however, a new report suggests it’s nowhere near the biggest bubble in the world.
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Website Blue announces major real estate partnership
Australian real estate website and marketing agency, Website Blue has announced a website development partnership with Harcourts International. The partnership, which covers the development of over 2000 domains, is touted by Website Blue as one of the region’s largest web development projects.The new website development project is aimed at future proofing lead generation for business owners, agents and property managers,…
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Over three-quarters of auctions successful this week
Over three quarters of auctions proved successful this week after 2418 properties were taken to auction, resulting in a preliminary clearance rate of 77.8 per cent. CoreLogic noted the volume was again down on numbers predicted earlier in the week, revising down from 2610 with the majority of that drop occurring in Melbourne. Of the 1955 results collected so far,…
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Home prices are rising globally, but can wages growth keep up?
House prices have been rising around the world at the fastest rate in 30 years, however some countries might run into problems if wages growth can’t keep up, an expert has warned. Asset management firm Franklin Templeton, notes house prices have been rising globally over the past 12 months, thanks to a combination of low interest rates and monetary stimulus.…
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Over 200 markets now in the million dollar property club
With property markets running hot across the country, a new report has highlighted that there are now 218 million-dollar areas across Australia.
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Smart home technology used by 10 million British residents in 2021
Smart home technology has made a major breakthrough in British mainstream culture over the past few years, reaching a new peak in 2021. There are currently 10 million United Kingdom (UK) residents using smart home technology, which allows consumers to control appliances, thermostats, lights and other devices remotely using a smartphone. The rapid adoption of this new technology is projected…
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New listing volumes remain high despite fall in May
After a significant lift in volumes earlier this year, new listings fell for the second consecutive month a new report shows. While the rise in listing volumes earlier this year helped supply meet record-high buyer demand, the REA Insights Listings Report June 2021 showed a 4.4 per cent decline in May. Despite the slight drop in May, new listing volumes…
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Boom in Aussies buying up restaurants, pubs, hotels and bars in regional centres
With international borders closed, regional Australia is seeing a dramatic surge in popularity. More people are moving out of the cities and into quaint communities. City slickers are looking for new careers and business opportunities, with regional Australia being bought up at record pace. Manenti Quinlan and Associates Director Leonard Bongiovanni said city residents are being wooed by the “fresh…
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New Zealand’s property market upswing is nationwide
CoreLogic New Zealand takes an in-depth look at suburb-level property data, revealing a surprising market upswing. Upmarket shopping district Herne Bay remains New Zealand’s (NZ) most expensive suburb with a median value of $3.16 million. However, in terms of value growth, cheaper areas reign supreme. Reflecting better relative affordability and easier access for a wider range of buyers, Manunui in…
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McGrath opens new office in Lower Blue Mountains
As more Sydney residents expand their property search into the stunning Lower Blue Mountains, McGrath Estate Agents have opened a new office in order to service the increasingly popular regional New South Wales area. The Announcement: Leading residential group, McGrath Estate Agents, has opened a new office in a popular regional area of NSW. McGrath Lower Blue Mountains will be…
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Property fragment marketplace Bricklet enters investor partnership
The partnership between Bricklet and DDP Property is set to extend the benefits of property fragments to more than 30,000 investors. Bricklet currently processes $52 million worth of property fragments across Australia, with $15 million of the fragments owned by Australian investors. With more Australians unable to afford a full mortgage for a desired investment property, Bricklet aims to deliver…
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US Olympic boxing champion Sugar Ray Leonard lists Los Angeles mansion for US$46.5 million
Gold medal boxing champion Sugar Ray Leonard is one of the wealthiest boxers in the world. With an estimated net worth of US$120 million, it’s little surprise the US Olympian’s Pacific Palisades mansion has been put on the Los Angeles property market for a whopping US$46.5 million. It has been nearly three decades since Leonard purchased just two acres of…
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New Laing+Simmons office opening in Sydney’s Rooty Hill
Laing+Simmons Mount Druitt have set up shop in the Western Sydney suburb of Rooty Hill. Headed by Jack and Basel Nahas, the new office will service the growing Rooty Hill, Eastern Creek, Plumpton and surrounding areas. It is set to offer a full suite of real estate services to the local community, including sales, property management, auction services, project marketing…
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Community housing in regional New South Wales has a 10 year waiting list
The Community Housing Industry Association NSW (CHIA NSW) is calling for urgent action to address the state’s social housing waiting list. There are more than 50,000 households waiting for up to 10 years or more for safe, secure and affordable community housing. CHIA NSW has warned that households on the social housing waitlist are paying unaffordable private market rents, couch-surfing…
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Australia’s residential development market falls to a seven-year low
Just $4 billion of total residential site sales were recorded in 2020. It was well below the 2014 peak of $11.3 billion, according to Knight Frank’s Australian Residential Development Review 2021. The review also found the national apartment pipeline will drop over the next three years, with just 86,400 new apartments planned across Sydney, Melbourne, Brisbane, the Gold Coast and…
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Belle Property Canberra celebrates their big win at the REIA Awards for Excellence
Belle Property has been nationally recognised with two awards at the Real Estate Institute of Australia Awards for Excellence.
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Largest total value rise on record for residential dwellings
The total value of residential dwellings in Australia now exceeds $8 trillion, according to the Australian Bureau of Statistics (ABS). The ABS found the total value of Australia’s 10.6 million residential dwellings rose by $449.9 billion to $8,293.2 billion in the March quarter 2021. This was the largest rise on record for the ongoing study, which looked into the value…
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