Real Estate News
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Rents hit record highs again as units outpace houses
Rents have hit record highs across the country again, with unit rents rising much faster than houses.
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New Propic AI seeks to generate more leads and save agents time
PropTech innovator, Propic has reinvented its Artificial Intelligence technology, with a trio of revamped products aimed at meeting real estate consumers’ demands for 24/7 service, giving agents more time in their day and generating leads with outbound prospecting.
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New listings 15 per cent below the long-term average
Despite rising interest rates and falling prices, homeowners are not rushing to sell.
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Billionaire media mogul Byron Allen picks up $100 million estate
Chairman and CEO of Allen Media Group/Entertainment Studios, Byron Allen has paid a record-setting price for a lavish Malibu vacation home.
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Slower start to spring for new listings but what’s to blame?
The extra public holidays in late September have contributed to a slow start to spring for sellers, with new listings 7.5 per lower than the prior month.
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Laing+Simmons appoints new head of property management
Laing+Simmons has appointed a Head of Property Management for the first time to lead its new in-house property management training program to build property managers’ skills and stop the ‘churn and burn’ typically associated with the industry.
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Little Hinges lands partnership with industry heavyweights, Ray White
Little Hinges have inked a deal with Ray White Surfers Paradise to ensure every new rental property features a virtual tour as part of their property management package.
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Former Bathurst winner Lee Holdsworth transitions to commercial real estate
After winning the Bathurst 1000 in 2021 and starting on the front row in 2022, Supercars veteran Lee Holdsworth is getting ready to step away from racing and take up a new career in commercial real estate.
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‘Issues’ singer Julia Michaels buys LA Mansion
Grammy-nominated singer-songwriter Julia Michaels is expanding her already large property portfolio, having picked up an LA Mansion in the San Fernando Valley community of Encino.
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Housing market passes ‘peak fear’ phase
Australian property markets have passed their “peak fear” phase and are expected to bottom out in the new year according to an expert.
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Mitch Armstrong appointed as OBrien Real Estate’s first CEO
OBrien Real Estate has a new Chief Executive Officer, with Mitch Armstrong joining the Victorian brand with a clear vision to lead the industry in agent and client experience.
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New program to unblock local housing backlog
The NSW Government has announced an $11.5 million Unblocking Homes Program that will help fast-track the delivery of tens of thousands of homes tied up in local council red tape.
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Adam Sandler picks up a $4.1 million knockdown
Funnyman Adam Sandler continues to expand his already impressive property portfolio, adding a traditional ranch-style house in the Pacific Palisades neighbourhood of Los Angeles for US$4.1 million.
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Consumers start to cut spending as rates rise
Rising interest rates and high inflation, are starting to hit the hip pockets of consumers with new data showing people are cutting back on their spending.
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No end in sight for rising construction costs
There’s still no relief in sight for builders with construction costs continuing to rise at a record rate.
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House price falls to continue into 2023: NAB
There’s likely more property price declines ahead with values to continue decreasing in 2023, according to the National Australia Bank.
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Rundown Sydney home in need of $500,000 in repairs hits the market
A rundown Sydney home that needs upward of $500,000 in repairs is attracting plenty of interest from potential buyers.
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Sandra Bullock selling her San Diego estate
Miss Congeniality star, Sandra Bullock is looking to offload her mammoth 91-acre San Diego compound for US$6 million.
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Different to offer property management as-a-service
Australian proptech :Different, has announced the launch of an all-in-one property management solution, :Different for Agencies.
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NSW Government announces offer for first home buyers to swap stamp duty for ongoing land tax
From January 2023, eligible first home-buyers in NSW will be able to choose between annual land tax and the upfront stamp duty. The scheme, called First Home Buyer Choice, includes an online calculator that will help buyers compare their options. For properties with a purchase price of between $650,000 and $1.5 million, buyers will have the choice of a smaller…
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Rental stock levels well below five-year average
Rental stock levels are more than 35 per cent below the five-year average and growth in annual rents has broken into double digits for the first time on record, new figures show.
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The latest tech gadgets real estate could use
If there’s one thing real estate agents don’t have a lot of, it’s time. Productivity is key to a successful career, and there’s a few new tech gadgets that might help in that department. Take a look.
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Further rate rises likely in New Zealand: CoreLogic
Rising inflation in New Zealand will likely mean more interest rate rises ahead according to CoreLogic. CoreLogic NZ Chief Property Economist Kelvin Davidson said the fact that inflation had not yet slowed down and that the Reserve Bank of New Zealand considered the case for a 0.75 per cent rise should indicate further tightening ahead. “The past few weeks have…
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Rising interest rates lead to a surge in refinancing
Homeowners are refinancing their mortgages at record levels as the impact of rising interest rates start to take hold.
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Preliminary clearance hits its highest peak since late May
The preliminary clearance rate has reached its highest point since May after auction volumes increased this week.
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Sydney vacancy rates hit the lowest on record
Sydney's vacancy rate has dropped to a record low of 1.1 per cent, with the number of available rental properties more than halving in the past year.
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Affordability continues to cause problems for first home buyers
The surge in home prices over the past few years continues to make it more difficult for first home buyers to get into the market. Finder’s First Home Buyers Report 2022 has shown that those people currently looking to buy rated affordability as their top factor in selecting a home, followed by access to public transport, proximity to shops, and…
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Elton John purchases luxury Toronto penthouse
Rocket Man Elton John has added to his already impressive property portfolio, picking up the penthouse in the King Toronto development in downtown Toronto.
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Perth rental stock hits the lowest level in 12 years
Perth rental volumes continue to plummet, with new data showing the number of available properties has reached a 12-year low.
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The Agency fortifies corporate team with new appointments
National real estate brand The Agency has made a series of strategic appointments across marketing and agent support that will underpin its next growth phase. These appointments include a chief marketing officer (CMO), head of brand, and head of agent experience, with the group dedicated to offering the highest quality experience for agents and their clients. The new marketing team…
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Sydney’s ‘Rainbow House’ to go under the hammer
One of Sydney’s most recognisable houses, a two-storey Enmore terrace painted in rainbow stripes in support of the 2017 same-sex yes vote, will go to auction on Saturday, October 8.
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Damian Collins ends REIWA presidential term proud of the industry’s achievements
Damian Collins’ four-year term as Real Estate Institute of Western Australia president will come to an end on October 13.
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Prevent burnout with new property management tools
Property managers are calling time on the real estate industry, struggling to cope with busy workloads and poor access to tools and resources needed to succeed.
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How to choose the right exit strategy for your business
Sales, retirements, and unforeseen events can lead to you or a partner exiting your real estate agency, but many business owners aren’t fully prepared for this critical step in their business’ life cycle.
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Lending to build new homes slows down
Rising interest rates continue to weigh on housing finance, with new data from the Australian Bureau of Statistics showing a decline in August.
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