Real Estate News
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Agents urged to remain vigilant on social distancing requirements
After a return to stricter controls in Victoria, the REINSW is urging agents to remain vigilant when it comes to social distancing. Noting the current situation in Victoria is a timely reminder for all that COVID-19 has not been put to rest, they’re calling on agents to exercise caution, especially at a time when the property market is proving buoyant. …
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Home loan rates hit new record low of 1.99%
Fixed home loan rates continue to tumble, with Bank of Us the first lender to offer the average Australian a fixed home loan rate under 2 per cent. Bank of Us has announced the record-breaking rate of 1.99 per cent, fixed for 1 to 3 years, for owner-occupiers paying principal and interest repayments with a…
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ATO offers tax time tips for rentals
With the end of the financial year imminent, the Australian Taxation Office (ATO) has sought to assist landlords with clear guidelines on what to do this tax time including what you can and cannot claim. Noting the ATO was aware residential rental property owners might be concerned about how COVID-19, floods, or bushfires had reduced…
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Positive signs for spending when restrictions ease
Australians who had reduced spending on items including eating out and recreational activities due to COVID-19 are expecting this to increase when restrictions ease, according to latest data from the Australian Bureau of Statistics (ABS). However, the sixth Household Impacts of COVID-19 Survey found that people who had spent less on items including household furnishings, clothing and…
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Sotheby’s International Realty ready to offer their services to Byron Bay
Experienced agent Dominique Vasers Williams has joined Queensland Sotheby’s International Realty as the brand looks set to service the Byron Bay and Northern Rivers region. A consummate professional who notes real estate is in her blood, Ms Williams said the name Sotheby’s International Realty is associated with luxury, quality properties and service. When asked how long she has been in…
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Seller confidence on the up as clearance rate holds steady
Seller confidence continues to improve with the capitals reporting the highest number of auctions in nine weeks on Saturday, along with volume and clearance that exceeded this time a year ago. CoreLogic reported 1424 homes went to auction at the weekend, returning a preliminary clearance rate of 64.5 per cent. “This was the highest number…
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Homely has joined Harcourts Coastal to co-sponsor the Gold Coast Titans
Real estate portal homely.com.au has teamed up with Harcourts Coastal to become the front-of-shorts sponsor for the Gold Coast Titans NRL team. Homely will appear as the front-of-shorts sponsor on the Titans’ away playing kit while Harcourts Coastal will feature on the home playing kit during the 2020 NRL Telstra Premiership season. Homely Co-Founder, Jason Spencer said he was extremely…
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Noosa scores Qld’s priciest properties and Mackay market soars
Queensland’s residential property market continues to show strong and relatively stable results, with regional markets leading the charge. According to the Real Estate Institute of Queensland (REIQ), the first three-monthly quarter (1 January 2020 – 31 March 2020) indicates the Sunshine State remains resilient. The state’s capital, which achieved the highest number of annual sales, saw modest price increases in…
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Real estate sector focused on selling and renting safely
Real Estate Institute of Victoria (REIV) President Leah Calnan has vowed the real estate sector will continue to do everything it can to help fight Covid-19 as further restrictions were announced across Victoria. In response to an increase in cases of Coronavirus, the Victorian Government announced a return to tighter restrictions which means that crowds at auctions and open house…
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Homebuilder and infrastructure help stimulate buyer activity
The recently announced HomeBuilder grant and major infrastructure projects are attracting committed buyers to entry-level markets in Australia’s capital cities, according to Raine & Horne. HomeBuilder provides eligible owner-occupiers, including first home buyers, with a grant of $25,000 to build a new home or substantially renovate an existing home. To be eligible for the grant, a couple must earn less than $200,000…
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Openn Negotiation launches in New Zealand
Online selling method, Openn Negotiation, has launched into New Zealand with Carl McNulty of First National Cromwell officially the first agent to use the platform. Mr McNulty has just listed 12C McFelin Road, Cromwell, and is excited to pioneer the selling method following its success in the Australian market. “I was first introduced to Openn Negotiation through an agent-based in…
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Prop-tech startup Yabonza makes first acquisition with Easyshare
Australian-founded prop-tech startup Yabonza has acquired sharehouse payments startup Easyshare in a bid to simplify rental payments on its property management platform. The cash and equity deal is the first acquisition for Yabonza and is a move that aligns closely with the platform’s tech, growth and leadership objectives. Easyshare was founded in 2015, with the goal of making payments for…
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Raine & Horne opens new office in Armidale
Raine & Horne has expanded its New England footprint, opening a new office in Armidale, led by experienced agent Nellie Hayes. Raine & Horne Armidale is an extension of the firm’s office in Glen Innes, which Ms Hayes opened in November 2018. “There was a brilliant opportunity to extend into new territory with the Raine & Horne brand, and I am…
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Australia’s variable rate hits new record low
An online lender has become the new leader in the mortgage rate wars as variable home loan rates continue to drop, hitting a new record low. Freedom Lend is now offering a variable rate of 2.17 per cent, for new customers with a deposit of 30 per cent of more. RateCity.com.au Research Director Sally Tindall said home loan rates have…
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Never say never: Bond villa up for sale
Sir Sean Connery was the quintessential James Bond. The screen’s original 007: smart, handsome, refined, debonair and the most popular of the nine actors who took on the classic-spy role created by British-naval-intelligence-officer Ian Fleming in 1953. Instantly recognized by most people through the James Bond film franchise of the 1960s to ‘80s including Goldfinger, Diamonds are Forever, Dr.…
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Border reopening expected to drive demand for Darwin property
Darwin homeowners and landlords are preparing for a significant surge in activity when the Northern Territory’s borders reopen on 17 July 2020, declared a local real estate expert. Raine & Horne Darwin General Manager Glenn Grantham said even before the border announcement this week, he had received six rapid-fire bookings for a holiday rental apartment in the Darwin CBD. “Typically,…
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Automated connection services to benefit Qld agencies and tenants
The Real Estate Institute of Queensland is set to launch a new automated utilities connection service which will save agencies time and money, and deliver a better experience for tenants. Part of REIQ‘s Realworks platform powered by Hutly, the new feature uses One Touch Execution and enables real estate agencies to nominate their default utilities connection provider so that all…
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Sunshine Coast agent strikes out on his own
Clinton Eastell has dreamed of the day he would run his own agency since he started out in the industry at 19-years-old. That plan recently came to fruition with the launch of Eastell & Co – a Sunshine Coast agency which he notes is already proving a roaring financial success. “The day I walked into real estate is the day…
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REIV welcomes new minister
Real Estate Institute of Victoria President Leah Calnan has welcomed the appointment of the Hon Melissa Horne as Minister for Consumer Affairs, Liquor and Gaming Regulation. The Victorian Government yesterday unveiled its new ministry with Minister Horne appointed to the portfolio that oversees the real estate profession. The REIV has written to the Minister, congratulating her on the appointment. Ms…
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Perth weekly sales transactions hit seven-year high
Data from reiwa.com has revealed over 1000 sales transactions occurred in greater Perth for the week ending 21 June 2020 – almost double the 52-week average of 539 sales per week and the highest level of activity seen since June 2013. REIWA President Damian Collins said the Perth metro market has certainly started to pick back up and is not…
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Blackshaw expands to the South Coast
Since taking the reigns at the Blackshaw Real Estate group in 2019, Andrew and Belinda Chamberlain, supported by their franchise principal team, have had a very clear vision for the company - a key element of which includes its continuing expansion. This week that vision has taken a significant further step, as the brand officially…
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Australian expats looking to buy ‘back home’ in the luxury market
Australian expats are increasingly looking to purchase property ‘back home’ as the impact of Covid-19 unfolds, and many of those are looking to buy at the higher end of the residential market, according to a Knight Frank survey. The survey, carried out amongst Knight Frank’s global network of prime agents, found 64 per cent said the lockdown had influenced expats’…
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Homely hits 400 partners across the country
A milestone 400 launch partners – including many industry heavyweights – have signed on to Homely’s Agent Participation Program nationally, helping the company on its way to its goal of providing an affordable digital real estate marketplace in Australia. The program, which provides agents with a financial interest in a major national real estate portal, aims to create a new…
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Clearance rate continues to climb on the back of higher volumes
Both auction volumes and the clearance rate lifted this week, with 1262 homes scheduled for auction in the capitals, returning a preliminary clearance rate of 66.1 per cent. CoreLogic reported this was up from the 63.3 per cent preliminary clearance rate returned last week across 1181 auctions, which later revised down to 59.3 per cent…
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Pandemic doesn’t stop real estate professionals changing lives across the water
When the not-for-profit program Digital Live was conceived in 2017, Steve Carroll was determined to make a difference to the lives of children in need across the water. And he knew exactly who to call on to help make this vision a reality: the passionate Australian real estate industry. Fast forward to 2020 and the achievements are astounding. In just…
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Laura Shooter of SJ Shooter Real Estate named Transform 2020 winner
SJ Real Estate Managing Director Laura Shooter has been named the winner of Elite Agent’s Transform challenge for 2020. Receiving the welcome news on Friday, Ms Shooter said was “very excited,” and “quite surprised” to take out the title over a field of 306 participants who completed this year’s 30-day virtual course. “I didn’t go…
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REIWA Awards recognise best in the west
REIWA has recognised Western Australia’s top real estate achievers for 2020, with this year’s event streamed to hundreds of people. REIWA CEO Neville Pozzi said during a difficult and evolutionary year within the industry, the awards were more important than ever to showcase the fantastic work that has been achieved. “The Awards for Excellence are the highest accolade that can…
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Rex reveals brand refresh and updated vision
The Rex team has announced a refresh of its core brand elements. Reflecting the growth and evolution of Rex as a leading Customer Relationship Management system which provides workflow and marketing solutions for real estate agencies, the rebrand elevates the focus on the company’s strength, stability and transformation, and includes a new logo, positioning and future vision. “It’s a major…
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‘Use grants wisely’: property investment consultancy advises first-home buyers
New building stimulus measures introduced by the Federal and WA State Governments are driving a significant rise in first-home buyer inquiry, according to reports from Perth-based property investment consultancy, Momentum Wealth. Combined with the existing First Home Owner Grant and duty concessions, the Federal HomeBuilder Scheme and State Building Bonus Package could see eligible first-home buyers in WA receive between…
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Call for ‘mega’ project fast-track to be applied to across the board
Australia’s leading property advocate has called for the fast-tracking of approvals for nation-building infrastructure projects to be adopted across the board by all levels of government involved in planning and construction approvals. The Property Council of Australia welcomed the Prime Minister’s commitment of additional funding to get new local infrastructure projects out of the ground and accelerate approvals for ‘mega’…
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Off-market listings app changing how WA buys and sells property
With an increasing number of sellers enquiring about off-market listings, an app has been modified to provide West Australians with a new and discreet way to buy and sell property which may not otherwise come to market. REIWA CEO Neville Pozzi said due to the current economic conditions many people were looking for cost-effective and productive ways to buy and…
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Real estate agents identify key areas of support
The extension of stimulus packages and scrapping stamp duty were among nine key areas of support identified by real estate agents across the country as the industry grapples with the challenges that have arisen during the pandemic. The suggestions were the result of a survey of Real Estate Institute of Australia members about measures that will assist the sector to…
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Variable home loan rates tumble to record low
The home loan rate war continued to heat up this week as the lowest variable rate in Australia dropped to 2.19 per cent – and experts predict the competition will only intensify. The special from Reduce Home Loans is for owner-occupier variable customers with loans up to $850,000. Analysis from RateCity.com.au shows that at the end of March just 19…
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The Agency expands to NSW’s stunning Central West
The Agency has announced its expansion into the NSW Central West, with highly regarded local agent Monica Henley and business development manager Justine Campbell at the helm of the new operation. The Central West, with a focus on Dubbo, Orange, Bathurst and Mudgee, is home to many of Australia’s best-known growers and producers, along with a thriving mining industry. Investment…
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Preliminary auction clearance rate rises as volumes increase
The preliminary clearance rate lifted to 63.3 per cent this week as volumes also showed further signs of increasing. Across the capitals, CoreLogic reported 1164 properties were scheduled for auction; the busiest week for auctions since the week ending 19 April. Last week, there were 711 scheduled auctions with a preliminary clearance rate of 59.8 per cent, which later revised…
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