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Real Estate News
Australian dwelling values finish the financial year 13.5 per cent higher
National home values rose 1.9 per cent in June, taking annual growth to 13.5 per cent for the financial year.
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Insights
Property industry confidence remains robust but housing affordability concerns increase
Property industry confidence levels remained close to recent record highs as the sector continues to lead Australia’s economic recovery from the COVID-19 pandemic. The results of the latest quarterly ANZ and Property Council survey showed confidence within the property industry (which employs 1.4 million Australians) would be critical to the rebound from the current COVID-19 outbreaks. The survey found that…
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BTW
Rollercoaster work week for central business districts revealed
The Property Council of Australia has created new initiatives to drive professionals back to their central business district (CBD) offices. The Announcement: The Property Council of Australia’s latest office occupancy survey has highlighted the challenge ahead for the reactivation of CBDs, with activity fluctuating between weekly peaks and troughs. The monthly survey of office building owners and managers, taken before…
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National
Family Home Guarantee and First Home Loan Deposit kicks off around Australia
Two highly anticipated government initiatives started 1 July, designed to provide Australians with a more secure future, but not everyone is guaranteed to be a winner. The Family Home Guarantee and First Home Loan Deposit scheme have each offered 10,000 new spots to eligible lower income Australians. But financial comparison hub RateCity warns consumers to check the fine print for…
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INDUSTRY NEWS
REA Group completes acquisition of Mortgage Choice Limited
Real Estate Australia (REA) Group has announced it has successfully acquired Mortgage Choice Limited, following the initial announcement to the ASX on 29 March. REA Group notes combining REA and Mortgage Choice will have a significant national broker footprint in Australia’s more than $400 billion annual home loan market, with more than 940 brokers, 720 franchises, 40 lending partners and a…
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BTW
Ray White and former Woolies executive join forces in Maleny
Ray While Queensland works alongside former Woolworths executive Allister Millican to develop property market in regional Sunshine Coast areas.
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BTW
Brisbane prestige agency expands as market booms
Brisbane-based Adcock Prestige looks to expand their agency as the Queensland market evolves. The Announcement: After almost 20 years as a sole operator, leading real estate agent and auctioneer Jason Adcock is spearheading a major expansion of his booming Brisbane prestige property business. Pivotal in the decision to expand was his youngest daughter’s near-death experience after going into cardiac arrest…
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BTW
Crown Group on the hunt for new development sites
Property developer Crown Group wants to build their apartment portfolio, including build-to-rent and CBD properties across Sydney, Melbourne and Brisbane. The Announcement: Leading international property developer, Crown Group is planning to build up its apartment development pipeline over the next five to 10 years as it remains cautiously optimistic of Australia’s economic recovery and the health of the apartment property…
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FRANCHISE NEWS
Laing+Simmons Double Bay celebrates 40th birthday
The award-winning Laing+Simmons Double Bay opened for business on 1 July 1981 under the guidance of a young Bart Doff. Mr Doff had been working in the Laing+Simmons Potts Point business for about 18 months when the opportunity arose to take the reins of the new Double Bay office. He took the opportunity, success followed, and the rest is history.…
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Celebrity Homes
Late American comedian W.C Fields’ Los Angeles mansion on the market for US$15 million
Lived in and loved by some of the most classic and beloved entertainers in the US, the historic W.C Fields Mansion in celebrity-rich-and-gated Laughlin Park is for sale, priced at US$15 million. Though he didn’t own the house, not believing in home ownership, W.C Fields rented the home in 1940 and added a pool table, a ping-pong table and bowling lanes set…
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INDUSTRY NEWS
Perth home values continue to climb in first half of 2021
Perth home values increased seven per cent in the first half of 2021, according to the Real Estate Institute of Western Australia (REIWA). REIWA President Damian Collins noted while the Perth home value index for June had only increased 0.2 per cent, the cumulative growth over the first six months of the year had been substantial. “Although the June price…
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Insights
Knight Frank research reveals promising luxury real estate trends
Australia’s major cities saw their highest quarter of prime residential sales volume on record. At the same time, the number of days a prime property was on the market compressed by almost a week, indicating there’s still more steam in the prestige market ahead, according to Knight Frank research.
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BTW
One Percent Property Sales smashes milestone of 200 houses sold in under 14 months
Queensland-based One Percent Property Sales celebrates reaching their 200 houses milestone within 14 months of their initial launch.
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INDUSTRY NEWS
Most investment properties no longer require physical inspections
Analysis by quantity surveyors, Washington Brown, has found more than 82 per cent of investment properties do not require a physical inspection to achieve the maximum depreciation. The company assessed 15,370 individual investment properties in Sydney over the past year since the pandemic and found 12,698 – or 82.6 per cent – of properties did not require a physical inspection…
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Celebrity Homes
Friends star Matthew Perry sells two California homes for $34.7 million
It's been a great year so far for Matthew Perry. As well as starring in the recent Friends: The Reunion special, the 'Chandler Bing' actor recently sold two California properties, worth $34.7 million combined.
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BTW
New Commercial Agency To Shake Up Sydney market
Four commercial real estate agencies have combined efforts in the hope to make a significant impact on the Sydney market, with assets under their management worth around $1.5 billion. The Announcement: A consortium of four major commercial real estate businesses has been formed to create Sydney’s newest and one of the largest commercial real estate sales and leasing groups. Called…
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FRANCHISE NEWS
Ray White celebrates $7.8 million sale of M-Space Colmslie building
Ray White celebrates the sale of all 18 commercial units in the new M-Space Colmslie building in Brisbane’s Morningside for $7.885 million. The Announcement: ALL 18 units at Brisbane’s brand-new M-Space Colmslie have sold out in double-quick time for $7.885 million (excl. GST) as both investors and owner-occupiers took advantage of the ever-popular and exponentially growing Australia TradeCoast corridor. The…
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INDUSTRY NEWS
Recent homeowners aren’t relying on the bank of mum and dad
There’s a pervasive myth that many millennials and recent homeowners are using the ‘bank of mum and dad’ to get their foot on the property ladder. But research from the Great Southern Bank (formerly CUA) has revealed just five per cent of recent homeowners relied on family to secure their first property. Great Southern Bank Chief Customer Officer Megan Keleher…
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Real Estate News
Realestate 88 principal qualifies for REIWA Hall of Fame as a triple award winner
The Real Estate Institute of Western Australia (REIWA) awarded Realestate 88 Inner City Principal Brendon Habak the Top Residential Sales Agent of the Year 2021 for the third year running. Last month’s ceremony saw Mr Habak grace the stage for the third time in a row, as he took out the major REIWA award. Mr Habak was rewarded for going…
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Real Estate News
PropTech Group to buy Eagle Software as part of growth initiative
PropTech Group has agreed to buy Eagle Software for $7.5 million as part of its objective to own and operate property technology businesses in the Australian, New Zealand and United Kingdom real estate markets. Under the agreement the payment will include $4.1 million in cash and $3.4 million in scrip. It forms part of a wider, $17.5 million equity raising…
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BTW
Will the house price boom be a boon for Australian banks?
While national house price moves look to have outrun their fundamentals, the associated boost in economic activity will improve the outlook for bank credit growth and earnings. The Announcement: Australian house prices have risen to record levels, with the near unprecedented acceleration triggered by, among other factors, the COVID-19 pandemic crisis response to cut interest rates to near zero levels.…
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Real Estate News
Riverbank House invites nature in to win Queensland architecture award
Wilson Architects’ Riverbank House has been awarded the Robin Dods Award for Residential Architecture at the Australian Institute of Architects’ Queensland Architecture Awards. The home is one-of-a-kind and sits on the banks of the Brisbane River in Highgate Hill, four kilometres south of the Brisbane CBD. Riverbank House is an interpretation of the classic Queenslander, a quintessentially Australian style of…
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BTW
Federal Government needs to boost population growth and productivity
The fifth Intergenerational Report shows migration and urban productivity are crucial to Australia’s future. The Announcement: The Property Council of Australia has labelled the latest Federal Government Intergenerational report a ‘wake-up call’ for policymakers on the importance of population growth and increased productivity to Australia’s economy. The fifth Intergenerational Report, released today, has found that Australia’s birthrate is expected to…
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BTW
McGrath extends regional presence with new offices in Orange and Molong
Fitzgerald Estate Agents has relaunched as McGrath Orange and there will be a second office at nearby Molong. The Announcement: Leading residential real estate group, McGrath Estate Agents, today announced the opening of two new offices in Orange and Molong, a move that reflects the company’s intent to expand further into new key regional lifestyle areas in NSW and Victoria.…
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APPOINTMENTS
Nigel O’Neil takes top Barry Plant job with clear vision for the future
Nigel O’Neil will take over from Mike McCarthy as chief executive officer at the Barry Plant Group from July 1. Mr O’Neil joined the group in late 2019 and has held the position of head of strategic growth up until this point. Mr McCarthy will remain a director and will continue to be significantly involved in the business. Mr O’Neil…
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Real Estate News
Victorian and WA markets show impressive sales trends
Online offer management system Market Buy has reported solid sales trends across the country, with properties selling for up to $29,500 more in the June quarter compared to its March counterpart.
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BTW
Jaw-dropping Sydney mega-mansion set to torpedo Sutherland sales record
A six-level Sydney mansion with authentic WWII torpedo in its basement is now on the market. The Announcement: One of Australia’s most extraordinary uber-mansions, home to an authentic WWII torpedo in its basement, is set to hit the market in coming weeks, offering buyers the chance to own six levels of inconceivable luxury perched on the shores of Sydney’s Burraneer…
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BTW
Knight Frank Perth and Mack Hall Real Estate enter into partnership
Knight Frank and Mack Hall Real Estate have announced a new partnership in Perth The Announcement: Knight Frank’s Perth office has entered into a partnership with Perth’s premium agency for prestige residential property, Mack Hall Real Estate. The partnership, branded ‘Mack Hall in Association with Knight Frank’, means the two businesses will work together in the luxury residential space to…
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Celebrity Homes
Yvette Mimieux’s stunning $45 million Bel Air estate for sale
Home to one of old Hollywood's most glamorous couples, Il Sogno (the dream) has come on the market at US$45 million.
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INDUSTRY NEWS
Expats and international investors stoking the local market
International investors and expats looking to return home to Australia are continuing to show strong interest in many markets across the country and are contributing to upward pressure on house prices.
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INDUSTRY NEWS
WA extends its rent relief scheme
The WA State Government has extended the Residential Rent Relief Grant Scheme (RRRGS) which aims to help tenants facing financial hardship.
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Real Estate News
Profit-making resales jump thanks to hot property market
The number of home owners selling their property at a profit jumped in the March 2021 quarter thanks to the record run for property prices.
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BTW
REIWA’s annual Auctioneering Championships showcase WA’s best talent
The Real Estate Institute of Western Australia (REIWA) has awarded the ultimate gavel to the finest local talent at their annual Auctioneering Championships. The Announcement: Tom Esze from TomEsze.com has taken out first place in the senior category at REIWA’s annual Gift of the Gavel Auctioneering Championships. The championships, which were at Wembley Golf Course, are divided into two categories,…
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APPOINTMENTS
Ray White welcomes new chief auctioneer for Queensland
Ray White has welcomed award-winning auctioneer Gavin Croft back to the group with open arms, as chief auctioneer for Queensland. Ray White Queensland CEO Jason Andrew labelled Brisbane-based Gavin Croft as “one of the finest auctioneers in the country”. “After being appointed as the chief operating officer of Ray White New Zealand in early 2020, COVID impacted Gavin and his…
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Real Estate News
NSW Budget isn’t giving back to housing after stamp duty boom
The billion-dollar stamp duty surge generated by pandemic stimulus will see the New South Wales (NSW) Budget return to surplus sooner than expected. But the windfall isn’t being directed into urgently solving NSW’s social and affordable housing crisis. The Australian Institute of Architects NSW Chapter President Laura Cockburn expressed her disappointment with the lack of attention to the housing crisis.…
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