Real Estate News
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Real estate agency ordered to pay after advertising mislead buyer on air-conditioning
A Melbourne real estate agency has discovered the hard way that it pays to get your listing copy right after being ordered to pay more than $6000 to a vendor who bought a home on the assumption it had refrigerated cooling.
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The real estate fallout from the Silicon Valley Bank collapse
Silicon Valley Bank, America’s 16th largest bank and a large source of funding for some prominent PropTech companies, has been dramatically shut down by regulators after depositors began pulling out their money.
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Awards flow for RE/MAX Revolution
The Shailer Park real estate team took major awards at RE/MAX Australia’s annual gala awards event held on 16th February at Brisbane City Hall, with individuals and teams, agents, administrators and property managers all receiving accolades.
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Professionals Granger Clark Real Estate on the past 12 months with RiTA
There is gold in every database. For Matt Condit, Licensee and Principal at Professionals Granger Clark Real Estate, having RiTA engage with their database was a huge game changer.
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Property values higher than before the pandemic
National housing values are still 14.8 per cent higher than they were at the start of the Covid pandemic, despite recent property value falls.
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The Caple Team joins RE/MAX Bayside Properties
RE/MAX Bayside Properties has added the highly-decorated Caple Team to its line-up as Hayley Van de Ven’s Limitless Group goes from strength to strength.
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PropTech is not something for agents to fear
Technology is continuing to change the way real estate agents operate, but the huge increase in new PropTech should be seen as an opportunity and not something to fear, according to an expert.
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How to perfect your prompt writing for ChatGPT, Midjourney and other AI generators
Generative AI is having a moment. ChatGPT and art generators such as DALL-E 2, Stable Diffusion and Midjourney have proven their potential, and now millions are wracking their brains over how to get their outputs to look something like the vision in their head.
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Auctions dip with public holiday, but tipped to rebound next week
Auction volumes and clearance rates took a bit of a dip over the weekend with a public holiday on Monday in four of the eight states and territories to blame, according to experts.
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City vacancy rate drops below regional areas
The national vacancy rate has fallen to just 1.47 per cent, less than half the level seen before the pandemic, according to the latest PropTrack figures.
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Deborah Evans takes out global network’s top career award
Deborah Evans’s name is well known in the real estate domain, both in the industry and her marketplace.
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Urban & Rural Partners clocks up a year of success with the Agents’Agency
Looking back on his first year with the Agents’Agency, Adelaide auctioneer and sales agent Nigel Christie only has one regret – he wishes he’d done it 10 years ago.
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Investors seek hotels after near record year of transactions
The $575 million sale of Australia’s first Waldorf Astoria Hotel is evidence investors are continuing to turn to hotel assets following a bumper year of transactions in 2022.
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Foreign investment is down, but for how long?
Foreign investment in Australian real estate fell over the last quarter, but a recent uptick in enquiries from Chinese buyers suggests the downturn will be short lived.
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February listings rebound as Autumn selling season approaches
New property listings increased by nearly 25 per cent over the month of February, though they remain below 2022's strong levels.
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House prices: why this key figure is more important than mortgage rates
Population growth has a far bigger impact on property prices than mortgage rates, according to a new report from Domain.
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The three things it takes to sell property in 2023
While mainstream headlines may indicate the current property market is somewhat turbulent, Market Buy CEO John Hellaby says the deals that are getting done, are getting done by agents who are getting the recipe right.
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Entry Education expands and sets a new pace in NSW
Australia's largest real estate academy, Entry Education, is expanding its operations in NSW.
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RBA Governor indicates a rates pause could be on the way
Reserve Bank of Australia Governor, Philip Lowe, has given his strongest indication yet that a rate rise pause is on the cards.
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Dean and Stephanie Dank open with Explore Property in Townsville
Long term high performing Townsville agents Dean and Stephanie Dank have stepped into their own Explore Property agency in Townsville.
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The simple fixes clients can make to help their listing stand out
It's an age old problem: You want your sellers to do everything they can to make their property stand out, but you don't want them to overcapitalise and risk losing money. Getting the answer right is even more important in a slowing market.
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Fair Trading to start attending OFIs from late March
NSW Fair Trading representatives will begin attending rental inspections from late March to ensure compliance with new rent bidding laws, the government has confirmed.
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Agent warns of the risk of overpricing rental properties
Brisbane-based real estate agency Place Sunnybank has drawn attention to the risk of landlords overpricing their properties in a post that's gone viral online.
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RBA announces tenth consecutive rate rise at its March meeting
The Reserve Bank of Australia has increased the cash rate by 25 basis points at its March meeting, taking it to 3.6 per cent.
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Mortgage affordability declines, rent crisis eases slightly: REIA
Mortgage holders are facing an increased financial strain for mortgage holders but renters have been given a slight reprieve, according to the Real Estate Institute of Australia's latest affordability report.
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Top Sydney agents step up with new agency
The Northern Beaches of Sydney beware… Chris Aldren and Tulo Sila have joined forces to launch The North Agency, in partnership with UrbanX, and are set to seriously step up the real estate game.
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Program helps tenants get their tenancy back on track
A Queensland property management agency has teamed up with an innovative program that corrects tenancies headed for failure as a way of helping its tenants and landlords manage the rental crisis.
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Share of sub-$400 per week properties falls sharply
The number of rental listings asking for $400 per week or less on realestate.com.au has nearly halved in the past year, new data shows.
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Improving auction clearance rates: what do they tell us about the rest of the market?
Australia's auction clearance rate edged past 70.3 per cent last week, following a strong month of auction activity in February, but it's too soon to interpret the improvement as a sign that the downswing is over, experts say.
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Inspect Real Estate joins forces with Reapit ANZ
Reapit ANZ, backed by US private equity firm Accel-KKR, has added local real estate software company InspectRealEstate to its portfolio.
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LJ Hooker Property Specialists establishes new Adelaide superstore
LJ Hooker Property Specialists has established their new flagship location in North East Adelaide, under the direction of Principal Michael Fenn, merging the Greenwith and Mawson Lakes locations into a new “superstore”.
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Rush to quality driving inner-Melbourne market resurgence
An influx of overseas students and the return of Australians from overseas is driving activity in Melbourne's luxury apartment sector, with a future supply crunch set to sustain price growth, says The Agency's Michael Paproth.
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Rate cuts could begin from 2024, Westpac says
The Reserve Bank of Australia is expected to issue seven rate cuts between 2024 and 2025, according to a new forecast from Westpac, but not before the cash rate reaches a high of 4.1 per cent.
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Gold Coast predicted to take an increasing slice of the population pie
The Gold Coast is set to benefit from an increasing share of overseas migration to Australia, helping prices there remain resilient, a leading economist has predicted.
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US market down $2.3 trillion since peak
New figures from Redfin show the US housing market has lost 4.9 per cent, or US$2.3 trillion, in value since its peak in June.
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