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INDUSTRY NEWS
Australian Community Newspaper Readership 2016: Roy Morgan
Readership of community newspapers in all mainland capital cities has declined, but many titles are bucking the trend and finding new local readers, the latest Roy Morgan Community Newspaper Readership results for the 24 months to September 2016 show. In Sydney, the St George & Sutherland Shire Leader extended its lead as the most-read community paper, with 220,000 readers per average issue (up…
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National
Clearance rates again above 70 percent on soaring volumes (11/12/16)
Auction markets continue their strong run, with the number of auctions recorded at the second highest level this year and clearance rates remaining above 70 percent for the 20th successive week Auction activity does not appear to be slowing through the festive period, with auction numbers reaching the highest level since March earlier this year. There were 3,411 auctions held…
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INDUSTRY NEWS
WA housing affordability shows notable improvement over the year
Housing affordability in Western Australia experienced a minor decline in the September quarter, but has improved over the year, according to the latest Housing Affordability Report by the Adelaide Bank and Real Estate Institute of Australia. REIWA President Hayden Groves said the report showed that while the proportion of income required to meet loan repayments in WA had increased by…
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Elite Agent
REIA welcomes new President
The Real Estate Institute of Australia (REIA) has welcomed the election of the new President, Malcolm Gunning. Mr Gunning was elected to the Presidency at the Annual General Meeting held in Canberra on Thursday 8th December 2016. He has over 40 years of experience in all facets of real estate agency practice, property development and property valuation. Mr Gunning is…
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Elite Agent
Ray White Group post record month
Ray White recorded $4.2 billion in sales in November 2016 – in what is a new record for the Group. Group chairman, Brian White said the result – in a market largely thought to be easing – gives concrete evidence of the strength of buyers in the market, supported by the continuing low interest rate environment. “Whilst Sydney remains remarkably…
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INDUSTRY NEWS
Purplebricks makes first ever UK profit
Purplebricks Group plc Interim results for the six months ended 31 October 2016 UK division achieves maiden EBITDA profit with plans to accelerate market share growth Purplebricks Group plc (AIM: PURP) (“Purplebricks”), announces its interim results for the six months ended 31 October 2016. Financial highlights H1 2017 H1 2016 UK Aus Total UK Aus Total £m £m…
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INDUSTRY NEWS
RateMyAgent Agent of the Year Awards 2017
RateMyAgent review and ratings site have announced the criteria for their national, state and suburb awards for 2017 and are calling for agents and agencies who have claimed their profile to seek more customer reviews to be in the running. National and state-based awards will be presented at the RateMyAgent Awards Night, held in Melbourne on 9 March, 2017 with…
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INDUSTRY NEWS
Historically low rates unable to offset increasing mortgages: REIA
The Real Estate Institute of Australia (REIA) says that in the September quarter of 2016, housing affordability in Australia declined marginally with the proportion of the median family income required to meet average monthly loan repayments increasing to 29.5% from 29.4% in the previous quarter. REIA President Neville Sanders says, “The latest Adelaide Bank/REIA Housing Affordability Report shows that whilst…
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Elite Agent
Real Estate Veteran Returns to Ray White
An agent with nearly 30 years experience as a real estate agent, principal, auctioneer and trainer has recently taken over the Ray White Balmain office. David Meadowcroft, who joined the industry in 1988, has experience leading both sales and property management businesses. He said joining Ray White largely came down to the opportunity on offer in the Inner West. “The Ray…
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Elite Agent
REA Group Property Demand Index – November 2016
REA Group has released their Property Demand Index for November 2016 showing variable results across capital cities with weakening demand in some locations and a stabilisation in demand. “Perhaps there is a sense of nervousness among Australians following the recent US election, because demand levels stabilised in November, increasing by just 0.1% during the month,” commented REA Group Chief Economist,…
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Elite Agent
Tax reform on the agenda for REIWA’s State Election campaign
In the lead up to the 2017 State Election, REIWA will be campaigning for the reform of property taxes to help make home ownership a reality for more West Australians. REIWA President Hayden Groves said the Institute would be engaging with the WA community via surveys and polls throughout the campaign period. “It’s incredibly important that the local community have…
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Elite Agent
Rates to hold in December, before rising in 2017: RateCity
Official interest rates are poised to hold at the historic low of 1.50 per cent when the Reserve Bank Board meets this Tuesday, according to analysis by RateCity.com.au However, their study of over 30 key economic indicators suggests the easing cycle has ended with Peter Arnold, data insights director at RateCity.com.au suggesting the chances of a rate hike in 2017…
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National
Are Recent Fixed Term Rate Rises a ‘Sign of What’s to Come’?
The Commonwealth Bank is the latest lender to lift interest rates for homebuyers looking to fix their home loan, raising rates on a number of fixed products. One of the country’s biggest lender lifted the rate of its popular 3-year fixed rate by 0.20 percentage points to 4.24 percent on Friday. It also lifted its longer-term 5-year fixed rate by…
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Real Estate News
iBuyNew Rated Among Fastest Growing Asia Pacific Tech Companies
National online property marketplace iBuyNew Group Limited (ASX-IBN) has been named among the fastest growing technology companies in the Asia Pacific region. IBN ranked 67th on the Deloitte Technology Fast 500 Asia Pacific 2016, a ranking of the 500 fastest growing technology companies in the region. Rankings are based on percentage revenue growth over three years. The recognition from Deloitte…
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National
Clearance rates hold steady on falling auction volumes (04/12/16)
Capital city clearance rate remains strong for the first week of Summer at 75 percent, while the number of auctions has fallen week-on-week The combined capital city preliminary clearance rate rose this week to 75.0 percent, up from last week’s final clearance rate of 73.0 percent. This week’s auction market results indicate that clearance rates are maintaining strength coming into…
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FRANCHISE NEWS
R&W Merger forms largest real estate agency in North Sydney
Two of the most successful real estate agencies in North Sydney have merged to form one office under the Richardson & Wrench brand. Richardson & Wrench (“R&W”) North Sydney have merged with First National North Sydney, making it the largest office of its type in North Sydney and one of the few to have a ground floor presence in the…
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Elite Agent
1 in 4 mortgage holders ‘extremely concerned’ about rate rise, new research finds
On the back of yesterday’s OECD recommendation that the Australian Reserve Bank increase interest rates next year, new research from Australian Credit Bureau, Experian, has revealed that a quarter of Australian mortgage holders are extremely concerned about the impact a potential 1.5% interest rate increase would have on their ability to service their loan. The RFi study of over 1,500…
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Real Estate News
NSW strata law reforms come into effect: REINSW
Years of consultation and review have resulted with significant reforms to NSW strata laws commencing on 30 November 2016. REINSW President John Cunningham said over 90 new strata laws will make a difference to the lives of those living in New South Wales. “These reforms will benefit owners, tenants and property managers and bring the laws in line with current thinking,”…
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Real Estate News
LJ Hooker overhauls its digital presence
LJ Hooker has unveiled its reinvigorated online centrepiece (ljhooker.com.au) and franchise network office websites with a view to enhancing interaction between its sales agents, property managers and customers. With the objective of creating a future-focused customer experience across its Australian residential, commercial, rural, land and home loans businesses the sites incorporate greater mobile responsiveness for customers and staff, cutting-edge agent…
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Real Estate News
Southern state investors returning to Darwin market
Raine & Horne Darwin has boosted it’s rent roll by 30% by amalgamating the rent roll of a major competitor with its existing property management business. “We now have 1,500 property managements, which makes us one of the biggest players in Darwin’s property management sector,” said Glenn Grantham, General Manager, Raine & Horne Darwin. For many years now, Raine &…
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INDUSTRY NEWS
REIA welcomes Government decision on change to FIRB rules
Following industry representation the Government has announced changes under the foreign investment framework to allow foreign buyers to purchase an off-the-plan dwelling when another foreign buyer has failed to reach settlement on it. Previously, the on-sale of an off-the-plan apartment was regarded as a second-hand sale, which was not open to foreign buyers who are only able to buy new…
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National
Aussie tech start-up Ubookr transforming how real estate agencies do business
Before the recent launch of ubookr.com trying to co-ordinate suppliers was a tricky task for real estate agencies. Synchronising the visits of photographers, floor-planners, copywriters and a long list of other suppliers often required endless emails or a complex, time-consuming ring-around. Having made the job a whole lot simpler Ubookr’s new online booking platform has been enthusiastically welcomed by the…
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Real Estate News
Macquarie Launches 2016 Benchmarking Survey
Macquarie has announced the launch of its biennial Macquarie Residential Real Estate Benchmarking Survey and is inviting residential real estate business owners and principals to participate. By encouraging participation nationally the survey aims to identify the key drivers of business performance, map financial standards and provides a comprehensive view of industry trends in Australia. Lisa Kearney, Head of Residential Real…
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National
Auction markets continue their strong run (27/11/16)
Auction markets continue their strong run of high clearance rates after the second busiest week for auctions so far this year Auction volumes increased with 3,367 properties taken to auction this week. This was the second highest number of reported auctions this year for the combined capital cities, up from 2,987 over the previous week. Despite the surge in auction…
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Real Estate News
New Australian development site portal delivers results for real estate agents, developers & investors
A new site, PermitReady.com.au has been launched, dedicated to selling and searching for development sites. The site already features more than 1000 permit-approved and permit potential sites across Australia. Less than two years old, the business launched in March 2015 with the goal to connect property developers and investors to development sites across Australia. In the nine months from January to September…
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Real Estate News
Sydney real estate boom drives R&W Hunter expansion
The surge of Sydney buyers forced out of Sydney in the hunt for value and affordability is changing the face of real estate in regional NSW. Richardson & Wrench today (November 25) adds a second Hunter Valley independent to its network, with the signing of Thomas Real Estate, a third generation family real estate business in the growth region of…
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Real Estate News
Super Lots Delivering Super Returns: LJ Hooker Research White Paper
It’s a phenomenon that always makes headlines, neighbours coming together to sell their properties, as a “super lot”, for double, triple or even quadruple the price of others in the street. A LJ Hooker Research Consumer White Paper on the growth of amalgamated selling delivers insight into this trend. Chief amongst the reasons cited for ‘super lots’ is the rezoning…
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EPM: News
Falls in Rental Affordability Causing Stress for Low Income Earners
Sydney continues to be Australia’s least affordable city for rental accommodation but, of all cities, Melbourne has seen the greatest decline in affordability since 2013, according to the latest Rental Affordability Index (RAI), released on 23 November, 2016. “The latest Rental Affordability Index shows housing stress is a common reality for people in the rental market, especially those on low…
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FRANCHISE NEWS
Recognising excellence in customer service: Ray White
At its elite conference in October, Ray White announced its top five businesses and agents leading the way in customer service internationally. As the Group continues to drive a shift in consumer sentiment in the Australian and New Zealand real estate industry, the Ray White ‘choice’ awards recognise those businesses that are rated most highly by their customers. From Queensland,…
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Real Estate News
From sales agent to business leader and mentor in 12 months
How to manage competing with your staff as a selling principal. The challenges you’ll face if you recruit the wrong people. The true costs associated with running a business. After opening his own office 12 months ago, these are just a few things that Sam Mayes has taught young agents in Queensland with ambitions to open a business. “I tried…
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INDUSTRY NEWS
Stamp duty hampers property transactions: REINSW
Homeowners are electing to undertake renovations rather than sell their properties in an attempt to avoid stamp duty, according to the Real Estate Institute of New South Wales. REINSW President John Cunningham said the number of property transactions had hit a four-year low for the month of October 2016 according to data from the NSW Office of State Revenue. “The…
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Real Estate News
News Corp Australia and realestate.com.au partner to create digital property news powerhouse
News Corp Australia and realestate.com.au this week announced a partnership streamlining property news, content and information. From early December, digital property content from News Corp Australia’s major metro, regional and community publications will live at realestate.com.au/news. This partnership brings together News Corp Australia’s news and information resources and realestate.com.au’s access to Australian property seekers. Tracey Fellows, REA Group CEO commented:…
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Brand Editorial
Eview Awards its best on the Group’s 10 Year Anniversary
The Eview Group hosted its 2016 Awards for Excellence at Melbourne’s Crown Studio 3 last Saturday night. More than 300 Directors, Sponsors and Partners attended the party in formal ‘masquerade’ dress. The night also coincided with Eview Group’s 10 year anniversary. In his address to the group, Manos Findikakis said he couldn’t have asked for a better night of celebrations to…
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Real Estate News
Domain Opens the Doors to it’s New Home in Sydney
The new home of Domain, located in a historic former woolshed at 100 Harris Street, has been fully converted into a stunning workspace for the growing team of more than 360 in Sydney. The new space has been designed with its team at the forefront, creating a space that is set to encourage and inspire the team culture at Domain.…
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INDUSTRY NEWS
REIQ Announces Nominees for 2017 Excellence Awards
The Real Estate Institute of Queensland has announced its 2017 Awards for Excellence finalists, representing the best in the Queensland real estate profession for the year. This year’s Awards attracted a record number of entrants, reflecting the growing strength in the market. Winners will be announced at the gala Awards dinner at Brisbane City Hall on 4 February 2017. REIQ…
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