Real Estate News
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Ex big-brand directors launch new business
Two of Brisbane’s most prominent southside property professionals have bid farewell to directorships at big-brand agencies and launched their own business. Taylor Kleinberg and Frank Lombardi have joined forces to create Klein & Co – a slick new operation, powered by UrbanX. Their decision to strike out on their own is particularly bold given current economic uncertainty around the coronavirus,…
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Prop20 to be reimagined as digital experience
REA Group’s industry event series Prop20 is being transformed into a digital experience that can be accessed by thousands of property professionals across the country. The new Prop20 virtual experience will deliver property industry insights, education and training online. The reimagining of Prop20 followed government COVID-19 restrictions which introduced a ban on events and social distancing measures. Prop20 offers property…
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New standard to transform Australian homes
An ambitious new standard for Australian homes will help drive the transformation of the housing market to ensure new homes are built to a higher standard which is focused on health, resilience and net zero energy. As part of a webinar on future homes, the Green Building Council of Australia (GBCA) has released the report Green Star for Homes: A strategy for…
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Real estate industry experiencing surge in off-market listings
The global pandemic has dramatically changed the way real estate agents do business, with Listing Loop reporting a significant rise in the number of off-market property listings. Defined as properties that are listed for sale, but not necessarily advertised through the standard mainstream channels, these ‘secret listings’ are typically marketed by agents to their individual networks. This surge in off-market…
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R&W expands its presence in the Southern Highlands
Richardson & Wrench has opened a new office in the Southern Highlands, marking an expansion into regions close to Sydney, which offer the benefits of both lifestyle and affordability. R& W notes the attraction factors that have made the Southern Highlands a perennial favourite amongst Sydney’s society set have been highlighted by the number of high-profile business and entertainment identities…
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RBA keeps interest rates at record-low 0.25 per cent
With the Australian economy still feeling the full impact of social distancing measures, the RBA has made the decision to leave interest at a record-low 0.25 per cent. The RBA made two rate cuts in March, including an emergency cut that saw the official cash rate fall to its lowest level on record. It was widely expected that the RBA…
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Construction sector devastated by impact of COVID-19
Up to 43,000 new homes will not be built in the next 12 months as a result of COVID-19, according to new economic modelling released today. Denita Wawn, CEO of Master Builders Australia said new modelling conducted by Master Builders Australia showed the devastating impact that lockdown was having on the building industry, the economy and the community. “In the…
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The Real Estate Institutes respond to COVID-19 impact on Australian property
As the far-reaching impacts of COVID-19 continue to be felt, the heads of the nation’s Real Estate Institutes have had their say on how they expect it will impact the Australian property industry. Responding to Ripehouse Advisory’s Whitepaper COVID-19 vs Australian Property, most industry heads are on the same page, remaining cautiously optimistic. Across the board, the consensus has been…
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The metropolitan property markets outperforming the pandemic
On the back of reduced housing stock, pent-up buyer demand and relatively stable housing prices, The Agency Group has seen promising turnover in the entry level categories and suburb records broken in the prestige sector. The Agency reports Sydney’s prestige Eastern Suburbs market has achieved some astounding results, with Ben Collier selling over $30 million worth of property over the…
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Five reasons now might be the perfect time to go out on your own
This recent COVID-19 crisis has imparted a level of disruption that our generation of real estate professionals has not seen before, requiring us to be adaptive and respond to change very quickly. It sees us in the midst of a paradigm shift, as the impact and status of the current COVID-19 pandemic evolves daily. Our industry has fast-tracked technologies and…
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Finder survey says…cash rate hold and international borders to remain closed
The cash rate is anticipated to remain on hold and Australia is projected to lose $25 billion in foreign spending, according to a recent survey by Finder. In this month’s Finder RBA Cash Rate Survey – the largest of its kind in Australia – 42 experts and economists weighed in on future cash rate moves and other issues related to the state…
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Time for change: Body language experts’ prediction for new global greeting
The traditional handshake – we do it because our parents taught us and their parents taught them to do it. Its origins are in Roman Military greetings 2000 years ago, and Westerners and Europeans accept it as ‘normal’. But in places like Asia and Japan it’s still a relatively new concept that many people in those countries have only seen…
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Rental Heroes introduces AI-chatbot ‘Alex’
Rental Heroes has introduced an AI-chatbot named “Alex” who is designed to help property managers by communicating directly with tenants to handle everyday requests and issues, including maintenance. The Melbourne-based proptech co rolled Alex out recently and explains the technology allows every property manager to have their very own property assistant. Rental Heroes has a focus on helping property managers…
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House prices remain steady as transactions slow
Despite the nation-wide shutdown that has made life tough-going for most real estate agents, house prices have remained stable throughout April. According to the latest data from CoreLogic, house prices nationwide ticked higher, up 0.3 per cent. House prices in Sydney increased by 0.4 per cent, however, values did ease in Melbourne, with prices down -0.3 per cent over the…
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Auction volumes to remain low for foreseeable future
Auction volumes are likely to continue at a lower rate for the foreseeable future, according to CoreLogic, with just 590 properties scheduled for auction across the capitals this weekend resulting in a clearance rate of 59.6 per cent. Volumes were up slightly on the week prior when 413 homes were scheduled for auction and a final clearance rate of 41.1…
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Auctions and opens are back for NSW
Treasurer Dominic Perrottet and Minister for Health Brad Hazzard said the relaxing of restrictions was a sign of the ongoing success in limiting the spread of COVID-19, but warned there was no place for complacency, with community safety and social distancing to remain an ongoing priority.“Choosing a home is one of the biggest decisions anybody makes, and easing the restrictions…
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Which rental markets are most impacted by COVID-19?
COVID-19 is having varied impacts on residential property, but arguably the biggest impact could be in the rental space. According to CoreLogic, prior to COVID-19, the Australian rental market was already weak and with new challenges like Australian borders remaining closed to tourists and government policies restricting short-term rental arrangements, some Airbnb rentals are converting to long-term rental supply. CoreLogic…
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New app offers reprieve for property industry
Developers can now give prospective property buyers the experience normally given in face-to-face showings, with a Brisbane-based creative agency launching a new interactive app, overcoming challenges with COVID-19’s social distancing measures. icreate.agency – which specialises in property – fast-tracked their new interactive online program called the ‘iCreate Sales Track App’ to simulate the experience of visiting sales suite or display villages. Having developed…
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Console Cloud announces integration with Maintenance Manager
An integration between cloud-based property management software platform Console Cloud and Maintenance Manager is set to give agencies a faster turnaround on maintenance tasks and save double-handling of data. Managing maintenance has typically required property managers to coordinate activities between tenants, landlords and tradies, causing headaches and games of phone tag for all involved. In an effort to streamline the…
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Six changes Australia could implement to improve liveability during lockdown
There is no doubt Australians’ mental health and quality of life are suffering during the nationwide shutdown as a result of the coronavirus pandemic. If Australia’s existing ‘shutdown’ turned into a ‘lockdown’ in localities where a spike in the growth of COVID-19 infections occurs, our ability to cope could be seriously diminished. Italy, Spain, France, Germany, Poland, the United Kingdom,…
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Property searches on the up: REA
Online property searches are proving a popular pandemic pastime according to realestate.com.au, with their latest data revealing both buy and rent searches have increased significantly on this time a year ago. According to their latest figures, search activity for properties to buy is up 5.3 per cent in the past week and is now 37 per cent higher than it…
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New records for Rent.com.au
Rent.com.au has released its quarterly results for the period ending March 31, noting new records have been set for visits to its website and apps. CEO Greg Bader said the March quarter was typically when Rent.com.au sees the greatest number of renters moving home, and the March quarter proved no different, with increased visits to the website and apps, as…
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Fast tracking projects key to economic recovery
The Property Council of Australia has welcomed the NSW Government’s announcement of the first tranche of 24 fast-tracked projects providing nearly 9500 jobs, $7.5 billion worth of investment and 4400 new dwellings to drive the recovery of the NSW economy. The Property Council has been working closely with the NSW Government over the last few weeks to put forward key…
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Auction activity slows for Anzac Day
A combination of Anzac Day commemorations and ongoing on-site auction restrictions saw just 431 properties go to auction across the capitals this week, with results only available for 223 of the properties as of Monday. CoreLogic results indicate volume was down on the 1,922 properties auctioned the previous week as the nation stopped to remember the Anzacs on Saturday and…
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The REIV and AFL Coaches Association team up to inspire excellence in real estate
The Real Estate Institute of Victoria (REIV) has teamed up with the AFL Coaches Association as part of a innovative initiative designed to inspire excellence in real estate. REIV President Leah Calnan said as peak representative bodies in their respective arenas, both organisations shared a common purpose of supporting their members to be “The Best You Can Be”. Now a…
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Qld Gov unveils Practice Guide to navigate tenancies through COVID-19
The Queensland Government has enacted National Cabinet’s moratorium on evictions, with a Practice Guide formalising the temporary requirements and protections for tenancies impacted by COVID-19. On Friday, Queensland Minister for Housing and Public Works Mick de Brenni published the Residential Tenancies Practice Guide, following the passing of the COVID-19 Emergency Response Act in Parliament last week, which allows government to…
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Easing of restrictions helps WA agents to get back to work
REIWA has welcomed the McGowan Government’s announcement to allow the number of people who can attend a home open to be increased from two people (including the agent) to a maximum of 10 people from Monday 27th April. REIWA President Damian Collins said with sales transactions sitting at a record low of less than 300 per week in Perth in…
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Delaying Victorian RTA changes labelled a great outcome
REIV President Leah Calnan has welcomed the Victorian Government’s decision to hold off on introducing changes to rental laws until next year, allowing the state to deal with Coronavirus. Earlier this month the REIV wrote to the Victorian Government, calling for a delay to changes to the Residential Tenancy Act due to the outbreak of Covid-19. Rental reforms were due…
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Property values holding on amid COVID-19 crisis – for now
While the COVID-19 downturn has had a dramatic impact on agent activity and listings volumes in residential real estate, reports indicate that so far the value of dwellings has been relatively resilient. It’s still likely that property values will fall amid the downturn, but according to CoreLogic the decline in momentum across property values has been mild relative to what…
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Auctions nosedive on back of pandemic and public holiday
The number of homes scheduled for auction this week took a dive, with only 314 properties scheduled for auction across the combined capital cities. According to CoreLogic, the lower volumes are partly due to coronavirus reducing the number of vendors serious about taking their property to auction in more challenging conditions, and also because Anzac Day falls on Saturday –…
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WA announces rent relief package
The Real Estate Institute of Western Australia has welcomed the McGowan Government’s announcement for rent assistance to help property owners who have been left to burden the costs of those struggling to make their rent payments due to the impacts of COVID-19. REIWA President Damian Collins said last week legislation was passed through parliament which protected the rights of tenants,…
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MRI Software appoints key executives to support global growth
Real estate software solutions company MRI Software has strengthened its leadership team with two key executive appointments. Roman Telerman has been promoted to Chief Financial Officer from Vice President of Finance, and experienced software executive David Bowie has joined the team as Senior Vice President and Managing Director, Asia Pacific. MRI Software’s Chief Executive Officer Patrick Ghilani said Mr Telerman…
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Property and Pandemics: What to expect next?
Key points covered in this webinar: Leading the way – Property always leads a recovery. Historical evidence of past crises – the GFC and the recession – showed house prices grew in value, often significantly. No two crises are the same, but one thing that is always the same: the way humans respond. We will bounce back quickly and strongly.…
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Eview Group announces ninth national partnership for 2020
With its ninth national partnership for 2020 confirmed in Darwin, Eview Group is fast becoming a formidable force amongst the real estate industry. In addition to extending its nation-wide reach into the Northern Territory, Eview Group will also further cement its already-established position within Queensland with a relaunch of an agency there. With the accumulation of almost 30 years of…
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REIV partners with ListingLoop.com.au
ListingLoop.com.au will partner with The Real Estate Institute of Victoria (REIV) to support agents by offering a safe digital solution that directly connects buyers to properties faster than ever before. ListingLoop.com.au is Australia’s first industry buyer database, which gives agents the ability to directly advertise their vendors’ properties for sale under a no-sale, no-charge success-based advertising model, while providing agents…
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