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FRANCHISE NEWS
RE/MAX Auctioneer showdown on convention stage
Greg Parker from RE/MAX Regency, Robina, had claimed the title in 2015, while Paul Gaffney from RE/MAX Executives, Holland Park was last year’s winner. With New Zealand contender Eric Chase from RE/MAX Zest in Remuera unable to make it to the Convention because of unforeseen circumstances, Ben Kloppers from RE/MAX Realty Group in Warkworth nobly stepped in and gave the…
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INDUSTRY NEWS
Investors finally get the APRA message; RateCity
The most recent round of bank rate hikes have pushed would-be investors over the edge, resulting in a sharp drop in investor housing commitments, according to RateCity. ABS Housing Finance data released last week shows the value of investment housing commitments in July fell by $460 million or 3.9 per cent from the previous month, according to the seasonally adjusted…
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Real Estate News
WA State Budget a positive for property investing, say Momentum Wealth
The WA Labor government have delivered their first state budget, and as Treasurer Ben Wyatt and Premier Mark McGowan have previously indicated, the burden of amending the State’s financial situation will be indirectly shared by all West Australians. However, from a property investment perspective, the budget was relatively positive as there were no direct increases to property costs for residents…
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Real Estate News
Government Policy Drives First Home Buyers
“First Home Buyers are returning to the market in NSW and Victoria off the back of enhanced Stamp Duty concessions in these markets,” stated Tim Reardon, HIA’s Principal Economist. “In July 2017 – the first month that these concessions took effect – the volume of First Home Buyers in NSW jumped to its highest level since 2012, increasing their share…
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COMMERCIAL
realcommercial.com.au launches a new investment search experience
Investors looking for commercial property in Australia are one step closer to finding the right place for them thanks to ‘Invest’, a new digital search experience launched by realcommercial.com.au. One-in-four people visiting realcommercial.com.au are searching for a property to buy as an investment1, with demand highest in Melbourne, Sydney and Adelaide. The new search experience is a key part of…
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Real Estate News
Preliminary clearance rate holds above 70 percent however final results tell a different story
National auction clearance results for the week ending 10/09/2017 courtesy of CoreLogic It will be interesting to see what the final clearance rate looks like on Thursday once the remaining records have been captured. Auction volumes increased week-on-week with 2,225 properties taken to auction this week, up from 2,074 last week, and higher than this time last year (2,062). Across Melbourne, preliminary…
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INDUSTRY NEWS
Master Builders Association calls for better regulation of the building industry’s use of cladding
“It’s completely understandable that fires at the Grenfell Tower in the UK and the Lacrosse building in Victoria have highlighted the importance of a regulatory system that has the confidence of both the community and the building industry,” she said. “As Master Builders has consistently said, the challenge is to make more effective the extensive and robust regulatory regime that…
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Real Estate News
REIQs most capped Auctioneer wins again
Mr Nickerson, who has won the REIQ title a record-smashing four times (2013, 2016, 2017, 2018), is the first Australian and only the third auctioneer in history to win back-to-back Australasian titles, after New Zealand’s Mark Sumich (2007, 2008) and Daniel Coulson (2012, 2013). “This is unbelievable, it’s just incredible,” a dazed Mr Nickerson said immediately following the announcement. “This…
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INDUSTRY NEWS
Perth’s stable house and rent medians good news for the market: REIWA
REIWA President Hayden Groves said it was encouraging to see the median price remain firm across both sectors of the Perth property market. “The stable medians are good news and indicate that seller’s and landlord’s expectations are matching those of buyers and tenants,” said Mr Groves. According to the latest reiwa.com data, listings for sale have continued to trend marginally…
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FRANCHISE NEWS
Richardson & Wrench Stars Shine Bright at the 2017 Annual Awards
The depth of talent within the Richardson & Wrench group has been highlighted by some outstanding performances across all of R&W’s markets. A true standout was Bondi Junction Principal Andre Frack claiming three of the most coveted trophies at the group’s annual awards on Saturday. Frack won the Most Outstanding Principal, both transactions and income earned, and took out the…
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Real Estate News
Auction volumes fall with the clearance rate clinging to 70 percent
National auction clearance results for the week ending 03/09/2017 courtesy of CoreLogic The final clearance rate across the combined capital cities has been sitting in the mid-high 60 percent range since June and it is likely that this will be the case again on Thursday when our final results are published. All but two of the capital cities saw the clearance rate…
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Core Logic Home Value Index August 2017
Using the upgraded hedonic index methodology, the CoreLogic August home value index results for the month confirm a slowdown in housing market conditions in Sydney, while Hobart emerged as the country’s best performing capital city based on growth in dwelling values over the past twelve months. National dwelling values remained flat during August, with capital city values edging 0.1% higher.…
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FRANCHISE NEWS
Stockdale & Leggo Expands into Footscray
With over 10 years’ experience across sales in the Melbourne real estate industry, Stockdale & Leggo Chief Operating Officer Anna Thomas believes new franchisee Anil Salimeda is an excellent addition to the Stockdale & Leggo group and their expansion into in the Footscray area. “Footscray has been on our agenda for some time now and we’ve been waiting for a…
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Real Estate News
John McGrath says no chance of a 40% correction in Sydney market
“The Sydney market is most of the way through its sales cycle and very near the top of its cycle. My view is there is no bubble and no chance of a 40% correction.” said Mr McGrath “The market continues to have strong drivers including deep demand, populations growth, overseas investment and low interest rates. There is a possibility of a small…
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Real Estate News
Education hot spots driving house price growth: REIV
Homes zoned for some of Melbourne’s top performing public schools are delivering six-figure dividends for property owners, compared to neighbouring homes outside the catchment. In the year to June 30, the largest price difference was recorded for homes located within the catchment area for South Yarra Primary School. Homes within the zone had a median price of $2 million while…
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FRANCHISE NEWS
McGrath tips Geelong as a strong performer this Spring Office reports upturn since joining the brand
McGrath Founder John McGrath said Geelong is well positioned for growth with many new Government departments and infrastructure setting up in the CBD, which is driving demand for residential property. “Geelong is becoming a hub for many medical, tech and government organisations, which has been a very positive economic driver for the area,” said Mr McGrath. McGrath Geelong Co-Principal David…
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INDUSTRY NEWS
New Home Sales Continue to Ease from Record Highs
“July’s result was driven by a 15.7 per cent decline in multi-unit sales and a more measured reduction in detached house sales. The large drop in multi-unit sales this month is in contrast to strong sales volumes late in 2016 and early 2017,” outlined Mr Reardon. The HIA New Home Sales report – a monthly survey of the largest volume…
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INDUSTRY NEWS
Perth’s 10 cheapest suburbs within 10km of the CBD revealed
REIWA President Hayden Groves said there was great opportunity for Perth home buyers close to the city. “Buyers in Perth really are in an enviable position. It’s unheard of in other parts of Australia, particularly in Sydney and Melbourne, for buyers to be able to purchase a house close to the city for less than $530,000. “We are very lucky…
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FRANCHISE NEWS
Coast swells with RE/MAX agents
Eighteen regions now make up RE/MAX Asia Pacific, with delegates also coming from countries such as Canada, United States, United Kingdom, Poland, Argentina, South Africa and Italy. Many arrived early to partake in meetings or the charity golf day at Royal Pines on Tuesday and Wednesday. Indigenous dancers from Australia and New Zealand signal the start of the formal program…
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INDUSTRY NEWS
Banks shut the door on new interest-only borrowing
APRA’s June Quarterly ADI Property Exposures data released today shows a 7.0 per cent drop in interest-only terms for new lending from the previous quarter. The drop comes despite a 10.6 per cent rise in new lending in all categories since March 2017. RateCity.com.au Money Editor Sally Tindall said today’s APRA data showed banks had responded to the regulator’s demand…
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Real Estate News
Corelogic launches new generation Hedonic Index
CoreLogic, has launched its new-generation Hedonic Home Value Index using updated methodologies and processes to provide insights into housing market conditions across the regions of Australia. The upgraded Index, which will continue to be published on the first business day of each month, combines a property’s key attributes, such as land area, number of bedrooms, bathrooms and car spaces, with…
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COMMERCIAL
Maxcon to build Adelaide’s tallest building
Realm Adelaide developers, Parallel Property have announced that Maxcon is the successful builder who will be responsible for bringing Adelaide’s tallest tower, the $200m 40 story Realm Adelaide building to life. Set to change the Adelaide skyline forever, construction on Adelaide’s most exciting residential building project will start next month and the building will be completed by early 2020. Marcello…
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SUPPLIER NEWS
BRICKX Arrives in Adelaide with Bricks from $74
CEO Anthony Millet is pleased to offer investors continuing diversity and an alternative to the Sydney and Melbourne property markets. “We are thrilled to be expanding into Adelaide; our third capital city since launching in September 2016 and our 14th property,” Mr Millet said. BRICKX properties are each put into an individual trust and split into 10,000 units or “Bricks”.…
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Real Estate News
Auction volumes at their highest levels in 12 weeks
National auction clearance results for the week ending 27/08/2017 courtesy of CoreLogic Over the corresponding week last year, the clearance rate was 74.5 percent and 2,153 auctions were held. It is expected as more results are collected that the final auction clearance rate will revise lower to remain within the high 60 percent range, where clearance rates have been tracking since early…
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Real Estate News
Inner West market leader Luke Bellero joins The Agency
With more than 20 years of experience, Luke Bellero has worked with a number of major brands, including LJ Hooker and McGrath Estate Agents. And though he says it’s a big move, Luke Bellero is confident about the team and the brand he is joining. “The Agency, in my opinion, just have it all right! It’s bold, modern and fun…
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Real Estate News
CoreLogic Property Pulse 24 August: Housing turnover remains low
Housing turnover remains low despite strong selling conditions in Sydney and Melbourne, according to latest CoreLogic data. CoreLogic data confirms over the 12 months to May 2017 only 4.8 per cent of all houses nationally actually sold, highlighting just how little stock sells in a given 12-month period. Across house sales over the past 12 months, Tasmania recorded the highest…
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INDUSTRY NEWS
Greens’ rental policy threatens rental market: REIQ
According to a statement last week, the REIQ have criticised the rental policy platform by The Greens, saying it would see landlords’ rights decimated in favour of tenants’ rights with no thought to the future health of the state’s rental market. One-third of Queenslanders rent and the overwhelming majority of those rent from private landlords, therefore, the continued participation of property…
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INDUSTRY NEWS
Affordable housing south of Perth is key to real estate turnaround: Raine & Horne
That’s according to Craig Abbott, General Manager WA, Raine & Horne, who says the availability of affordable homes south of Perth with good rental yields will assist in getting the market back on track. “There is plenty of news suggesting that Perth’s real estate market is in a rebalancing phase,” Mr Abbott said. “I think it’s too early to call…
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FRANCHISE NEWS
Ray White wins Top Franchise Group in WA at REIWA.COM Awards
More than 700 real estate professionals and guests attended the 2017 reiwa.com Awards Ball at Crown Perth on Saturday night, which celebrated WA’s leading real estate agents and recognised them for their achievements in 2016-17. Ray White WA chief executive officer Mark Whiteman said he was delighted his network won the top honour at the esteemed REIWA.COM awards. “This is…
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FRANCHISE NEWS
Change of Guard at Stockdale & Leggo Manningham
Stockdale & Leggo have welcomed leading Principal, James Aldinger to the family with James’ recent acquisition of the Stockdale & Leggo Manningham office. With over 20 years’ experience across sales, project sales and property management, with the last 15 years running his own number of successful real estate agencies, Stockdale & Leggo Chief Operating Officer Anna Thomas, believes James is…
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INDUSTRY NEWS
realestate.com.au study reveals Australians not so neighbourly
The study surveyed Aussies’ regard, or lack of, for their neighbours. More than 15 per cent admitted they go out of their way to avoid speaking to a neighbour, while one in five revealed they’d previously had a dispute with someone living in their street. realestate.com.au Executive General Manager of Residential, Andrew Rechtman, said the findings showed that for the…
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INDUSTRY NEWS
Ex-CEO of LJ Hooker Joins LocalAgentFinder
LocalAgentFinder is a leading comparison platform that enables property owners to compare local real estate agents or property managers for their sale or leasing requirements. The business, led by Matt McCann, the former CEO of iSelect, is continuing to explore its strategic options including an Initial Public Offering (IPO) as part of its growth strategy. Mr Harrod is the current…
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Real Estate News
R&W Colours Up for Starlight Foundation
They took part under the red banner of Richardson & Wrench, wearing purple and yellow wigs for the Starlight Children’s Foundation. And, at the end of the 5km Color Run fundraiser around Centennial Park, the 120 R&W runners, smeared top to toe in bright paint, had collected more than $10,000 to make the lives of seriously ill children just a…
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Real Estate News
Preliminary clearance rate increases to 71.7 percent, while auction volumes remain steady
National auction clearance results for the week ending 20/08/2017 courtesy of CoreLogic Volumes continue to track higher than what was seen over the corresponding July-August period last year. Across the two largest markets, Melbourne’s preliminary clearance rate rose this week (77.7 percent), after last week’s final results saw a weakening in the rate of clearance, falling below 70 percent for the first…
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FRANCHISE NEWS
Di Jones expands into Inner West
Di Jones Real Estate CEO Rob Ward said many people may not even realise that Di Jones first started out in the Inner West before opening offices in Woollahra, where it has been part of the landscape for 25 years. “We have expanded to the Inner West for a number of reasons,” Mr Ward said. “Our strategic plan is driven…
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