Real Estate News
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Ray White Young recruits specialist for new rural franchise
Ray White Young Principal David Coombes has recently recruited high-profile, agricultural specialist Rachelle Barnett to spearhead an expansion into rural sales. Previously a residential and commercially focused business, Mr Coombes opened a rural franchise this month, which he said would service the needs of the rural community surrounding Young and neighbouring towns – and he was thrilled to have Ms…
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Adina to open landmark ‘green’ apartment hotel in Southbank
TFE Hotels and Hume Partners Property is set to launch Australia’s first cross-laminated timber (CLT) hotel and the tallest timber adaptive-reuse project in the country – the ultra-modern Adina Apartment Hotel Melbourne Southbank – later this year. Just six months out from opening, the striking 220-room Bates Smart-designed apartment hotel, at the intersection of Southbank Boulevard and City Road in…
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2020 ARERA winners announced
The region’s top performing independent agencies and individuals have come together for the 14th annual Australasian Real Estate Results Awards (ARERAs). Hosted by industry coaching and training body Real Estate Results Network (RERN), this year’s ARERAs were more hotly contested than ever, with a large number of nominations received from across Australia and New Zealand. Winners from 36 award categories…
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Property start-up to deliver sale success
Australian property start-up Brickfloor is eliminating home selling stress by providing a Home Price Guarantee for sellers. Working alongside leading real estate agencies, including Marshall White, and acting as an insurance policy for home sellers, the Home Price Guarantee product sees Brickfloor commit to buying the seller’s home for a competitive price that’s locked in before they even list. If…
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730,000 interest-only mortgages a ticking time bomb
Hundreds of thousands of borrowers on interest-only loans will be hit with higher repayments this year according to new research by comparison site Finder. A Finder analysis of Australian Prudential Regulation Authority (APRA) data revealed that 730,000 interest-only (IO) home loans will convert to principal and interest repayments in 2020. Of all the home loans granted in 2015-2016, a worrying 39…
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Major turnaround for McGrath
McGrath has reported a major turnaround with half-year results indicating a revenue increase of 15 per cent to $48.9 million on the back of strategic initiatives, improved market sentiment and strong clearance rates. Releasing their FY20 first half results this week, McGrath CEO Geoff Lucas said the turnaround on the prior year was significant and reflected the adoption of a…
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Melbourne’s outer fringe offers future growth
Melbourne residents are chasing value a little farther afield, with council areas on the city’s outer fringe enjoying recent growth. Jason Hellyer of Ray White Victoria said there were seven council shires in Melbourne’s outer fringe which grew by 7.1 per cent when compared to the same period in 2018. At the same time the average median property value across…
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The global trend in co-living spaces
A new global metropolitan housing trend is hitting Australia with full force and is set to cause sustained growth in an emerging property sector dominated by young professionals. Recent research from Savills shows that co-living – purpose-built housing that mixes high-quality rental rooms with sophisticated communal lifestyle spaces – is on the up. They note investment into co-living predominately emerging…
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First National announces SA/NT GEM award winners
First National Real Estate’s South Australian and Northern Territory estate agents were presented with their General Excellence and Marketing Awards at Adelaide Oval on Friday night. The awards recognised the best performing agents throughout 2019 and top 10 individuals and offices are now in the running for National GEM Awards. To encourage peak performance for all First National agents, those reaching the…
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Domain ups stumps as major cricket sponsor
Domain has “upped stumps” as the naming rights sponsor for the Cricket Australia men’s test series as the property portal seeks to embrace a more targeted marketing approach in the wake of lacklustre half yearly results. The announcement that Domain would withdraw from the naming rights sponsorship comes just half way through a four-year contract…
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Big bank home loan war as ANZ slashes fixed rates to 2.68%
Australia’s fourth largest lender, ANZ, has slashed its fixed rate home loans by up to 0.86 per cent. The lowest advertised rate from ANZ is now 2.68 per cent on its two-year fixed rate package loan for owner-occupiers paying principal and interest. This is the second equal lowest two-year fixed rate in the RateCity.com.au database. ANZ has cut their two-year…
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Auctions go from strength to strength
Auctions go from strength to strength The auction market continues to go from strength to strength with 2,446 properties going to auction in the major capitals this week, resulting in a preliminary clearance rate of 77.7 per cent. According to the CoreLogic data, that was a significant increase on this time last year when 2293…
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RE/MAX recognises big wins from a year of distinct halves
Around 400 people gathered to celebrate RE/MAX Australia’s top performers for 2019 last week after a year which Managing Director Michael Davoren described as one of ‘perfect opposition’. “The first half was the toughest six months for some time, with the impacts of royal commissions, elections and so on; then the second half was a total turnaround, which paved the…
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PropTech platforms Realtair and AuctionNow join forces
Australian PropTech innovator Realtair will merge with leading independent auction platform, AuctionNow, in a move that will see the formation of Australia’s first genuine end-to-end, integrated digital sales transaction platform. Realtair CEO and Founder Peter Matthews said the merger with Damien Cooley’s AuctionNow is perfectly timed at the start of this new decade. “At Realtair we have digitised and automated…
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The Agency kicks off in Canberra
Peter Micalos is set to take the driver’s seat at The Agency’s new Canberra chapter, which launched this week with a significant project pipeline. Canberra’s growth trajectory – recent CoreLogic data showing dwelling values increased by 2.3 per cent over December and 3.14 per cent in January 2020 – has been on The Agency’s radar since the company’s inception three…
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The novel coronavirus outbreak and Chinese cross-border real estate buying
Chinese Consumers at Home To understand the impact of the epidemic on Chinese cross-border real estate buying in overseas markets, it helps to first understand the situation for these buyers at home, in China. In much of the country, people are working at home or taking an enforced holiday until they can return to their…
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Stamp duty labelled ‘government addiction’ as industry calls for reform
Calls for changes to stamp duty are starting to grow stronger after New South Wales Treasurer Dominic Perrottet put the federal government on notice to act on tax reforms. In a recently released report, an independent panel appointed by the NSW Treasurer looked at how NSW and the Commonwealth could work together to build a stronger economy. One of the…
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Ray White Vic forecasts growth for 2020
Ray White Victoria corporate auctioneer Jeremy Tyrrell is optimistic about 2020 and says he’s expecting positive growth for the property market. After the highs and lows of 2019, Mr Tyrrell – who has 20 years of auctioneering and real estate experience under his belt – says the new year has begun with positive momentum. “With the Australian elections over and…
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Ray White NSW comes together for Unite 2020
More than 450 Ray White Group members from across New South Wales descended on Sydney’s Ivy Hotel for Unite 2020. Hosted across capital cities by Australasia’s biggest real estate group, the Unite 2020 program provides a new and improved training format for salespeople and property managers. The sessions were designed to help its agents navigate and adapt to current market conditions. Ray White…
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CEO calls for disclosure of energy efficiency in homes
First National’s chief executive Ray Ellis is calling on the nation to follow the lead of the ACT as climate change consciousness extends far beyond the capitals to impact regional home buyers and renters.
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Listing of the week: Pretty in Pink
The impossibly pastel pink hued Main Beach Bungalow – modelled after the Beverly Hills Hotel – is on the market for the first time since it was redesigned two years ago. The resort style estate, hidden from view behind a pink fence and well established gardens, is located in the heart of the Glitter Strip at 46-48 Peak Ave, Main Beach. The cabana and…
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First home loan scheme helping millennials: HIA
Data indicates the Federal Government’s First Home Loan Deposit Scheme is already helping millennials achieve their home ownership aspirations while giving a boost to regional areas. According to HIA Chief Executive Industry Policy, Kristin Brookfield, government data shows 34 per cent of First Home Loan Deposit applicants are aged between 25 and 29, while 76 per cent of applicants are…
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Property price optimism rising in capitals as regions feel the strain
Record low interest rates have helped boost the level of financial comfort for many Australians who reside in our capital cities, as a rebound in property prices improves sentiment. However, the gap with those in regional areas continues to grow, according to ME Bank’s latest Household Financial Comfort Index. Australians living in regional areas are currently experiencing an eight-year low…
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Change on the program for RE/MAX New Zealand in 2020
RE/MAX New Zealand set ‘Navigating change’ as the theme for its February Rally held at the Grand Millennium, Auckland on Thursday, 13 February. “Change and the challenges associated with it are prominent on the RE/MAX New Zealand outlook for 2020,” said RE/MAX New Zealand Managing Director Michael Davoren. “Along with technology, global developments and changing customer expectations, the September election…
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realestate.com.au launches autumn advertising campaign ‘Millions More Buyers’
realestate.com.au has surged to a new record audience high of 9.3 million as its new autumn advertising campaign begins. The ‘Millions More Buyers’ campaign uses modern illustration throughout the brand’s multi-channel approach. Digital, out of home, radio and TV campaigns aim to drive listing activity in the market as the autumn selling season begins strongly. The campaign’s 30-second TV commercial aired nationally for the first…
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Auction clearance rate up on the back of increased volume
The national clearance rate is sitting just below 80 per cent after a weekend which saw Canberra, Sydney, Perth and Melbourne all achieve exceptional results. According to the latest data from CoreLogic auction markets showed a strong result of 78.6 per cent on the back of higher volumes as the number of properties taken to…
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Raine & Horne beefs up corporate team
Australian franchise Raine & Horne has expanded its corporate team with the addition of a National Head of Network, a Business Development Manager in Queensland and two Customer Solutions & Support specialists.
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Demand for residential land picks up
“Residential land sales have increased by 45.9 per cent from their record low in the March 2019 quarter,” said HIA Economist, Angela Lillicrap. The February 2020 edition of the HIA-CoreLogic Residential Land Report provides updated information on sales activity in 46 housing markets across Australia, including the six state capital cities. “The first half of…
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The Agency’s new powerhouse female team on the Central Coast
With four decades of experience between them, The Agency’s new Central Coast team is a force to be reckoned with. Agents Tracy Stein, Bev Barendse and Paula Taylor launched just last week with The Agency and their joint operation reaches from Davistown all the way through to Terrigal. “We are privileged to have agents of Tracy Stein, Bev Barendse and…
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Downsizers value spare rooms and will leave neighbourhood for new home
Space remains important to Australian downsizers, with over a half moving to a dwelling with three or more bedrooms and a third moving to an apartment, AHURI research has revealed. The ‘Effective downsizing options for older Australians’ research, undertaken for AHURI by researchers from Curtin University and Swinburne University of Technology, compares households that downsized with those that haven’t to understand…
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First home buyers surge to decade high
First home buyers are back and ready to buy, with the latest Australian Bureau of Statistics figures indicating new loans to first time buyers have hit their highest level since 2009 in seasonally adjusted terms. Releasing their figures on Tuesday, the ABS said the value of new loan commitments to first home buyers rose 6.2…
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Disability housing provider secures $20 million in investment
After securing a $44 million cornerstone investment last year, one of Australia’s most innovative disability housing providers, Casa Capace, has secured a further $20 million in investment and has completed its first multi-dwelling houses, with residents moving in next month. Casa Capace is a registered and certified provider with the National Disability Insurance Scheme (NDIS). With six bedrooms across two…
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Ouwens Casserly host their Take Off event
Ouwens Casserly Real Estate recently held their fifth annual Take Off Conference, with a lineup of industry-renowned speakers headlining the event. The OC Take Off Conference is designed to offer the organisation’s agents, staff members and leaders the insight and inspiration to excel into the new calendar year and this year the conference was held at Coopers Brewery for the…
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Domain lodges complaint on Canberra competitor
Zango, the recently launched portal in Canberra has already attracted the ire of local competitor Allhomes, with the former filing an injunction for false and misleading advertising. The injunction, filed in the Federal Court within one day of the portal's launch asks the startup to cease using a variety of marketing statements including: Zango is…
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REA Group delivers resilient performance in challenging market conditions
REA Group Limited (ASX:REA) today announced its results for the half-year ended 31 December 2019. Group financial highlights from core operations1 include revenue2 of $440.3m and EBITDA3 of $272.1m. The Group’s result was delivered in continued challenging market conditions with declines in new residential listing volumes and new project commencements. National residential listings declined 14%,…
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