Real Estate News
-
BHGRE expands to South Australia with big name signing
With close to 30 years’ experience selling property in Adelaide’s north-eastern suburbs, veteran Principal Anthony Ward, alongside wife Emma, have joined Better Homes and Gardens Real Estate (BHGRE). It is the lifestyle brand’s first foray into South Australia, having already established offices in the eastern states of New South Wales, Queensland, and Victoria. With a name already known by millions…
Read More » -
Family business takes leap of faith
The coronavirus crisis has caused some to run for the hills, overwhelmed by what appears to be a risky time for new ventures. But the opposite is true for Queensland-based agents Lou Cooper and her daughter Ambre Perry who are set to shake up Buderim and its Sunshine Coast surrounds with their new agency, ‘Perry Cooper’. And what better way…
Read More » -
REIQ demands ‘urgent action’ to protect property market
The Real Estate Institute of Queensland has called for the Palaszczuk Government to protect Queensland’s property market “as a new wave of contagion threatens to undo the state’s recognised efforts of containing COVID-19 to date”. The essential temporary measures being asked for include a 75 per cent reduction in stamp duty and extending the First Home Buyers Grant to established…
Read More » -
Top tips from NZ agents on how to navigate Stage 4 lockdown: Gower Buchanan
Speaking from Auckland, Ray White Pononsby director Gower Buchanan is quick to reassure his Melbourne colleagues there will be light at the end of this tunnel. Six months on from Stage 4 lockdowns he notes…
Read More » -
How Stage 4 lockdowns will impact auctions, inspections and real estate offices
Real Estate Institute of Victoria (REIV) Chief Executive Gil King has confirmed that all real estate offices in Melbourne will be forced to close for at least six weeks. “We urge you to avoid assuming what will and won’t be allowed until the new directions are published,” Mr King wrote in a letter to REIV members. “We will advise you…
Read More » -
Melbourne property price recovery could take a while
This month’s Finder RBA Cash Rate Survey dealt a blow to Melbourne’s property owners, with the majority of experts surveyed expecting housing prices to continue to drop until at least April 2021, with a third predicting we won’t see recovery until 2022 or beyond. “Both Melbourne and Sydney experienced double-digit growth throughout most of 2019,” explains Graham Cooke, insights manager at…
Read More » -
Extending NZ mortgage holidays a ‘no-brainer’
Century 21 New Zealand owner Derryn Mayne has called upon the NZ government and banks to follow the lead of Australia and extend the mortgage holiday scheme, calling the decision a ‘no-brainer’. Close to 60,000 New Zealanders had deferred their mortgage payments by the end of the financial year, while an additional 80,000 had reduced their repayments. “Having supported over…
Read More » -
RBA: Economic recovery “likely to be both uneven and bumpy”
The Reserve Bank of Australia has maintained the current policy settings, leaving the cash rate on hold at 0.25 per cent in their August meeting. Below are truncated comments from Governor, Philip Lowe: “The global economy is experiencing a severe contraction as countries seek to contain the Coronavirus. Even though the worst of this contraction has now passed, the outlook…
Read More » -
Ex-AFL player kicking goals in real estate
Nathan Wright played for St Kilda Football Club between 2013-2018, before an injury sidelined his career prematurely. Now, he has gone on to join another stellar team, as a sales executive with Barry Plant Bayside, turning a hobby he held while playing in the AFL to a thriving career. “While playing AFL, I was lucky enough to purchase a couple…
Read More » -
Sector seeks to confirm what stage four lockdowns mean for Melbourne real estate
The Victorian real estate sector is seeking to confirm exactly what stage four restrictions in Melbourne and Mitchell Shire will mean for the state’s property industry after a raft of announcements were released today relating to retail, the construction sector, and other industries. Here’s what we know so far… Clarity still needed on real estate operations At present it remains…
Read More » -
Explore Property adds another QLD office
Queensland based real estate franchise Explore Property has added another office to its growing Queensland network. Explore Property now has 11 operational divisions across Queensland. The new Bundaberg region office will be lead by established local industry people Rob Prendagast and Kylie Henning. The business partners cover all bases in agency practice and plan to offer a full-service agency across…
Read More » -
Perth sales activity increased 68% from April low
Despite the value of homes dropping across Australia, sales activity in the Perth metro region increased by 68 per cent in July compared to April. According to REIWA data, the increase was across both dwellings and land sales. “While there are no surprises with the increase in land sales for the month, which saw a 121 per cent increase compared…
Read More » -
New C21 office opens in Burwood NSW
An experienced team of real estate professionals have opened an agency in Sydney’s inner west under the Century 21 brand. Directors Eugene Ganke, Jada Vi, Betty Lu, and Ricky Kong are a team that are passionate about property. Together they will operate the Burwood real estate business after having worked together in different roles across independent and franchise agencies. “We…
Read More » -
Britney’s hideaway back on the market
The Beverly Hills home where Britney Spears went into hiding in 2007, after divorcing her husband and becoming the target of paparazzi, is back on the market, at a cool $6.8 million. Spears lived in the house from 2007 to 2012, when she sold it at a $2m loss. The house was listed for $9 million in 2018, but did…
Read More » -
Housing values drop for a third month in a row
Australian housing values have suffered a third consecutive month of declines. CoreLogic’s home value index dropped 0.6 per cent over July, an ever-so-slight improvement from June’s 0.7 per cent drop, but a drop all the same. CoreLogic’s head of research, Tim Lawless, explains: “The impact from COVID-19 on housing values has been orderly to-date, with CoreLogic’s national index falling only…
Read More » -
Clearance rate rises on the back of lower volumes and fewer withdrawals
The combined capital city preliminary clearance rate improved this week, coming in at 65.3 per cent on the back of lower auction volumes. CoreLogic reports 1162 properties were taken to auction at the weekend with…
Read More » -
High-yield commercial property investments still in demand
Investment in high-yield commercial properties, especially those with long-term tenants, is flourishing despite the pandemic, according to RE/MAX U’s Deepen Khagram. “Investors are very focused on yields and we are achieving very good outcomes with commercial property that we are taking to the market,” he said. Mr Khagram recently re-sold a 7-Eleven Service Station in Burpengary East for $5.4m, representing…
Read More » -
Queensland urged to “get moving on HomeBuilder”
HIA Queensland Executive Director Mike Roberts is calling for his state to get moving on HomeBuilder, in order to avoid a significant downturn in building activity during the fourth quarter of 2020. “As a proud Queenslander, I do wonder why we seem to be running last on this issue,” he said. Mr Roberts is frustrated that, while the Federal Government’s…
Read More » -
HomeBuilder yet to halt downturn in building approvals
Despite the many incentives in play to help potential home buyers, residential building approvals fell by an additional 4.9 per cent in June. As HIA Senior Economist, Geordan Murray explains, this trend existed long before COVID-19. “The COVID-19 shock has occurred on top of a well advanced cyclical downturn in home building activity that began back in 2018,” he said.…
Read More » -
Home loans rates drop even lower
After home loan rates dipped under 2% a week ago, with Loans.com.au offering introductory rates of 1.99%, Homestar Finance have pipped them as the lowest variable rate in Australia, with a one-year fixed rate of 1.98%. As Rate City reports, the loans do revert to an ongoing variable rate of 2.49 per cent, plus required a 20% deposit and upfront…
Read More » -
Government looks to extend First Home Loan Deposit Scheme
As the Federal Government readies to bring down its October budget, an expansion of the first-home buyer loan scheme could be on the cards, following a rush of demand. National Housing Finance and Investment Corporation figures show that over 40 per cent of the 10,000 available slots have been filled in less than a month. In comparison, the first 10,000…
Read More » -
REIWA: Emergency period tenancy legislation “needs to end”
As the ACT becomes the first state or territory to extend its emergency period tenancy legislation, Damian Collins, president of the Real Estate Institute of Western Australia (REIWA), has said there is no need for the legislation to be extended in Western Australia. Mr Collins believes the legislation should end as initially planned, on September 29, 2020. “The emergency legislation…
Read More » -
Rent prices take first quarterly fall since 1972
In the first quarterly fall since 1972, rent prices were down 1.3 per cent for the June quarter, according to the latest data from the Australian Bureau of Statistics (ABS). The downward trend coincided with the biggest drop in consumer prices since 1931, with the consumer price index for the June quarter falling 1.9 per cent. “Weak rental market conditions…
Read More » -
New Australian homes will soon be required to meet Green Star status
Double-glazed windows, air filtration systems and LED lighting are some of the elements new Australian homes will have to feature in order to achieve ‘Green Star certification’. A draft of the Green Star Homes Standard was released today, as part of the Building Council of Australia’s Future Homes Strategy. “The Standard is being developed collaboratively with rigorous consultation and input…
Read More » -
Almost 20% of new Victorian homes are sold to overseas buyers
Overseas buyers are snapping up new properties across Australia, according to findings from the National Australia Bank’s Q2 2020 Residential Property Survey. New development sales to foreign buyers rose from 6.6 per cent to 8.3 per cent in Q2, with figures for established housing increasing to 3.1 per cent from 2.4 in the first quarter. Victoria has seen the biggest…
Read More » -
Build-to-rent incentives ‘a shot in the arm’
The Property Council of Australia has spoken out in favour of the NSW Government’s new measures to help boost the growth of the ‘build-to-rent’ sector. “The incentives announced today will help to attract institutional investment into new housing, giving the one-third of Australian households who rent their home more choice, certainty and better amenity,” said the Property Council’s Chief Executive,…
Read More » -
Homely secures auctioneer Damien Cooley as a brand ambassador
Real estate portal, homely.com.au, has named acclaimed auctioneer Damien Cooley as their new brand ambassador. Off the back of announcing a massive partnership with 400 top real estate agents from across the country, Homely has today shared that two-time REINSW Award for Excellence in Auctioneering recipient, Damien Cooley has become their first official brand ambassador. Mr Cooley has been brought…
Read More » -
Inside model Gigi Hadid’s colourful house
Model Gigi Hadid may be paid millions to wear the latest in fashion, but as the furnishings in her New York apartment show an eclectic taste in home furnishings. The model has posted photos of the interior of her apartment, and it’s colourful, to say the least. “Spent all of last year designing and curating my passion project/dream spot,” she…
Read More » -
From private jets to business success
“We’ve just signed our first deal after six days on the market in the $1.7 millions… BOOM! I’m over the moon this morning!” That’s Garry Jones’ opening salvo in what will be a high-energy roller coaster of a discussion about the launch of his new Brisbane agency – Garry Jones Homes. Garry’s path to business ownership is far from traditional.…
Read More » -
Rent hikes ‘inevitable’ as vacancy rates soar
While the latest CoreLogic figures show that rental prices dropped by half a per cent nationally during the June quarter, projections suggest that a hike of rent prices is inevitable. The national vacancy rate fell to 2.2 per cent over June, according to SQM research, with Propertyology finding that only four of the 52 largest cities and towns in Australia…
Read More » -
Laing+Simmons tackle mental health
Laing+Simmons has struck a new partnership with Making Meditation Mainstream to bring mediation to local people and help tackle the challenges of mental health in the community. Each Saturday at sunrise, Making Mediation Mainstream takes members of the community through a peaceful, and free, mediation experience. Since launching in 2018 on the Northern Beaches, the movement now operates from 14…
Read More » -
National rent prices fell over June quarter
National rents have fallen by half a per cent over the June quarter. New figures from CoreLogic’s Quarterly Rental Review show that, although COVID-19 was a significant factor in the drop, the rental market was already weak. Rent values dropped 0.3 per cent in the month of June, and 0.5 per cent over the entire quarter, the largest quarterly fall…
Read More » -
New Zealand’s tallest building is officially open for business
New Zealand’s tallest office building, the PwC Tower, opens for business today (July 27) on the waterfront in downtown Auckland, after eight years in planning and construction. Standing about 180 metres tall, the 39-level steel…
Read More » -
How to turn a $35K marketing budget into $300,000
On the back of some tricky times for sales agents, marketing strategies have been playing a more important role than we’ve seen for many years. Tulo Sila, leading sales agent from Upstate on Sydney’s Northern Beaches, has started to generate some impressive results for his vendors, thanks to the ability to increase his marketing budget. Mr Sila has been utilising…
Read More » -
Stamp duty relief welcomed by Property Council and HIA
The NSW Government’s plans to provide stamp duty relief for first home buyers purchasing newly built properties worth up to $1 million has been welcomed by numerous bodies. Under the new plans, from August 1, the stamp duty exemption limit will be lifted from $650,000 to $800,000 for the purchase of a newly-built home. The stamp duty concession will also…
Read More »