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Real Estate News
Proposed changes passed to cut costs for WA real estate, says REIWA
On 16 November 2016 the Parliament of Western Australia passed the Residential Tenancies Amendment Bill 2015 and the Licensing Provisions Bill 2015, with amendments being made to the Residential Tenancies Act, the Real Estate and Business Agents Act, and the Auction Sales Act. These amendments are a result of initiatives put forward by the Real Estate Institute of Western Australia…
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Real Estate News
realestate.com.au partners with Tendril to provide Energy Scores for Australian properties
realestate.com.au last Friday launched Energy Scores, which will give properties in Australia their own energy efficiency rating. The tool will give property seekers an indication of how energy efficient their next home could be. And for homeowners, it allows them to better understand energy usage, associated costs and where they could potentially reduce their energy expenditure. To create Energy Scores,…
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Real Estate News
REA Group Property Demand Index – October 2016
REA Group last week released it’s Property Demand Index Report for October. “Demand for property in Australia is now at fever pitch, with rates continuing to reach record levels, further supporting house price growth in all states except Western Australia,” says Nerida Conisbee, REA Group Chief Economist. “From what we’re seeing on realestate.com.au in October, the increases in the index…
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Real Estate News
Small Business, Big Depreciation Schedules, don’t miss out says Bradley Beer
Australia’s largest provider of tax depreciation schedules believes that small-to-medium size businesses may be missing out on valuable opportunities to reduce their tax bills by not maximising the wealth of legitimate depreciation deductions available in the commercial property they either own or rent. According to Australian Taxation Office rules, commercial property owners and tenants can simultaneously claim for two categories…
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Elite Agent
World GIS Day 2016
Did you know that today (16 November 2016) is world GIS Day? Of course you did. But on the off-chance that you haven’t yet heard of this auspicious calendar event, GIS Day is an international day to demonstrate the value and real-world applications of geographic information systems (GIS) technology – and in recognition, aerial imagery and data visualisation company, Nearmap,…
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FRANCHISE NEWS
Ray White Victoria posts record month despite falling stock
In Victoria, where it’s estimated there’s a 20 per cent drop in stock levels across the state, Ray White has recorded a personal best in sales. Achieving $651 million is sales for the month of October, Ray White Victoria CEO, Domenic Belfiore said the momentum has been building all year. “It’s been a fantastic year and we’re thrilled with the…
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INDUSTRY NEWS
Sydney vacancy rates tighten: REINSW
Residential vacancy rates have tightened across the Sydney market as new accommodation is snapped up across the city, according to data released by the Real Estate Institute of New South Wales. REINSW President John Cunningham said the October 2016 REINSW Vacancy Rate Survey was at 1.7 per cent, down 0.2 per cent for Sydney. “We have seen an increase in…
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National
Preliminary clearance rates hold steady at 77.5% (13/11/16)
This time last week, the preliminary clearance rate was reported to be at 77.5 percent as is the case with this morning’s report. As results come in over the coming days, we will get a firmer view on how the numbers end up however with a strong preliminary headline result and increasing volumes of properties going to auction, the market appears…
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EPM: News
South Australia Looks to Change Property Management Licensing Laws
In a move endorsed by The Real Estate Institute of South Australia (REISA), the State Government has announced proposed changes to legislation including the introduction of a Code of Conduct for the real estate industry and the licensing of residential property managers in South Australia. REISA CEO Greg Troughton said “We have lobbied the Government extremely hard for many years…
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INDUSTRY NEWS
Defence Housing Australia Appoints New MD
Jan Mason has been confirmed as Managing Director of award-winning Government Business Enterprise Defence Housing Australia (DHA). Ms Mason, who acted in the role for the previous year, has been appointed for a further five years, DHA Chairman, the Hon J.A.L. (Sandy) Macdonald, said today. Mr Macdonald said Ms Mason had already accomplished a great deal and would continue to…
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Real Estate News
realestate.com.au launches Australia’s first VR property app on Google’s Daydream platform
Australians can now more readily explore and view properties in virtual reality, via the realestate VR app launched by realestate.com.au, on Daydream, Google’s high quality, mobile virtual reality platform. Australia’s first dedicated virtual reality property app on Daydream features a range of active realestate.com.au listings, allowing consumers to walk through their potential next home, in their own time. The number of properties available…
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Real Estate News
Retail lease reforms support SMEs: REINSW
The retail leasing industry and small businesses throughout NSW will benefit from retail lease reforms introduced into State Parliament, according to the Real Estate Institute of New South Wales. REINSW CEO Tim McKibbin said amendments to the Retail Leases Act 1994 (NSW) will make doing business easier for tenants, agents and landlords on the retail strip. “Some 44,500 retail businesses…
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Real Estate News
How the US election will affect the property market: LJ Hooker
Today, as the world watched the US election unfold, LJ Hooker Head of Research, Mathew Tiller gave us some preliminary thoughts on the impact of a Trump win on the Australian commercial and residential property market. Says Tilley, “Nearly all parts of the Australian economy are intrinsically linked to the performance of the US; our equity markets take their direction from…
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National
PropertyAnt: a new online platform helping the next generation of property investors
Research shows that new investors are starting earlier in life and are more likely to own several rental properties over their lifetime. PropertyAnt is a new tool that has been created to service this growing market segment. The 100 percent online and mobile solution matches investors with the right tools, experts and strategies that will enable them to feel confident about…
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Real Estate News
Mark Shorrock joins RE/MAX ranks
Mark Shorrock has joined the RE/MAX Profile Real Estate team in Brisbane’s western suburbs to ‘live, work and sell locally in 4070’, the postcode for Bellbowrie, Moggill and Anstead. He has lived in Bellbowrie for more than a decade, has worked in the local real estate market for more than six years, and the fully qualified chef owned and operated…
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Real Estate News
Meriton preparing a pre-xmas triple treat
Australia’s apartments pacesetter, Harry Triguboff, is paying no attention to talk of a Sydney market slowdown by unveiling his Meriton group’s plans to release three new projects, collectively worth more than $1 billion, before Christmas. The projects are in Dee Why, Rosebery and Mascot and they are coming on to the market on the heels of Mr Triguboff launching the biggest…
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FRANCHISE NEWS
RE/MAX global growth trending upwards
RE/MAX growth in Australia and New Zealand is travelling a similar upward path as the international scene, says managing director Michael Davoren. In a recent broadcast, Dave Liniger, the CEO, Chairman and Co-Founder announced that the worldwide RE/MAX network had topped 110,000 agents. “The September quarter was the 19th consecutive quarter of growth for RE/MAX across the globe,” said Mr…
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Real Estate News
Bankwest to deliver real time updates on home loan applications
In possibly an Australian first, Bankwest customers are now able to check the details and status of their home loan application using Application Tracker, a real-time, 24/7 online service, that also sends push notifications at key milestones. Bankwest’s Executive General Manager of Retail, Andrew Whitechurch, said the Application Tracker had been developed by working directly with customers to understand their needs.…
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Elite Agent
REA Group increases earnings, despite a drop in listings
REA Group Limited (ASX:REA) today released details of the year to date financial information to be reported by News Corp on 7 November 2016 (EDT). REA Group financial highlights from core operations 1 for the quarter ending 30 September 2016 include revenue growth of 16% to $170m and EBITDA growth of 9% to $90m. The strong revenue result was driven by…
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Real Estate News
Real Estate and Property Industry Reforms Paper Released
The NSW Government has today released a Real Estate and Property Services Industry Reform Paper, outlining the Government’s vision for the state’s $15 billion real estate and property sector. The paper contains a strong focus on raising training standards, increasing transparency and accountability and strengthening trust account processes. It is currently anticipated that the new laws will be in place in…
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National
Clearance rates creep towards 80% (6/11/16)
Auction markets continue their strong run with the weighted preliminary clearance rate holding well above 70% for the 15th week running. Auction activity has continued to rise through in the final month of spring, however, the number of auctions remains well below the highs recorded a year ago. The preliminary clearance rate was 77.5% across 2,490 reported auction results. This…
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INDUSTRY NEWS
Whose Depreciation Claim Is Top Of The Block?
Which apartment on Channel 9’s 2016 season of The Block is going to be the most appealing to potential investors? EPM regular, Bradley Beer from BMT Tax Depreciation and his team have run the numbers and share their analysis. Here are the key points: It looks like investors could claim an average of over $2.2 million in depreciation deductions for…
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EPM: News
Rent.com.au Partners with Walk Score®
A recent survey conducted by Rent.com.au revealed that 91 per cent of Australian Renters identified location as their number one criterion when choosing their next home, followed by access to public transport and proximity to the CBD. As location plays such a significant part in the rental search, Rent.com.au has partnered with Walk Score®; a tool that promotes walkable communities…
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Real Estate News
Direct Mail Automation, Regardless of Volume
CRM software provider REX Software has announced a new partnership with tech company CRM2Print. This partnership will give users the ability to automate their direct mail needs, right from within REX. In three simple steps, users can send one or thousands of letters without the need to print, fold, stuff and mail themselves. CTO Alex Babkov explains, “We’ve always recognised…
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Real Estate News
REIV Awards recognise its best performers
The Real Estate Institute of Victoria has awarded the industry’s top performers for 2016, recognising agencies and professionals who are setting new best practice standards. The REIV’s annual Awards for Excellence are a highlight on the REIV’s event calendar, attended by more than 1,000 real estate agents from across Victoria. At a gala function last night at Crown Palladium in…
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National
Auction Markets Remain Firm (30/10/16)
Auction markets remain firm, recording the 14th consecutive week where the combined capital city clearance rate remains above 70%. The final weekend of October shows the auction clearance rate remains high across the combined capital cities, recording above 70.0 per ent for the 14th consecutive week. There were 2,246 auctions held across the capital cities, with a preliminary auction clearance…
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INDUSTRY NEWS
It’s a two speed property market: Domain
Australia has a two speed property market, with some capitals hitting record high prices while other markets weaken, according to the September quarter Domain House Price Report. Nationally the median house price increased by 1.7 per cent over the quarter, but varying levels of local supply and demand are delivering mixed results for individual capitals. Melbourne and Sydney prices have…
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Real Estate News
1ST City Group Expands Platforms Into Finance
1ST CITY GROUP are proud to be expanding platforms in the launch of a Finance and Insurance division under its prestigious 1ST CITY brand. The addition of 1ST CITY ‘Fund+Protect’ heralds the beginning of a new era to the multi-award winning Real Estate Agency which was established in 1998 and has grown to have three offices in the Eastern Suburbs…
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Elite Agent
Low CPI is Good News for Home Buyers and Renters
According to the Real Estate Institute of Australia (REIA), the September 2016 quarter CPI figure continues to be good news for home buyers and renters. “The All Groups CPI, increased by 0.7% in the June quarter giving an annual increase of 1.3%. This is marginally higher than the annual increase to the June quarter of 1.0% which was the lowest annual…
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Real Estate News
NSW land, property transactions fall; REINSW calls for action
The NSW government is facing a budget shortfall with land related transactions and total stamp duty collected below current budget forecasts for the first three months of the 2016-2017 financial year, according to the Real Estate Institute of New South Wales. REINSW President John Cunningham said data from the NSW Office State Review shows that for July, August and September…
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FRANCHISE NEWS
Developer auctions brand new apartment for charity
The owners of ‘Altitude on Montville’, one of the Sunshine Coast’s most exciting new developments, are auctioning a brand new two bedroom apartment in aid of The Royal Flying Doctor Service (RFDS). The luxury apartments are being developed by Sunshine Coast locals, the Purcell family. The charity auction will donate proceeds to a cause that is close to their hearts.…
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Celebrity Homes
realestate.com.au launches new content campaign with MasterChef’s Gary Mehigan
realestate.com.au continues to invest in digital entertainment, with today’s release of ‘Sale Scents’ starring popular celebrity MasterChef Gary Mehigan. Inspired by existing research that says using aromatic citrus scents could help your house sell for more, realestate.com.au teamed up with Mehigan and aroma specialist Dr Megan Thornton to put it to the test in a fun two-minute film. In the…
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Real Estate News
REALABS: The Future of Property Technology
REA Group today announced REALABS, a purpose-built invention space in the heart of Australia’s tech hub, Richmond, designed to create, trial and bring to life the newest technologies for consumers to experience property. The new space will be dedicated to invention and innovation, housing a range of new technologies, including virtual reality, augmented reality, drones and robotics. REALABS will be…
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Real Estate News
Change in Leadership for top Sydney Raine & Horne Office
Leading Eastern Suburbs real estate business, Raine & Horne Double Bay-Bondi Beach, has announced a new direction for the business, with business owners Barry and Mark Goldman making the move to luxury brand Sotheby’s. Principals Ric Serrao and Martin Maskin will form the new streamlined management team at Raine & Horne Double Bay/Bondi Beach. Since 2001, the Raine & Horne Double Bay…
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National
Captial City Auction Markets Record Highest Preliminary Clearance Rate This Year (23/10/16)
This week, CoreLogic are reporting the highest preliminary national clearance rate this year, reaching 80.2% over the combined capitals. The number of homes taken to auction this week increased to 2,641, compared with 2,443 over the previous week. The preliminary clearance rate of 80.2 per cent is the highest recorded for the year so far, up from 76.2 per cent…
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