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BTW
State Budget a mixed bag: REIQ
The Real Estate Institute of Queensland is urging the State Government to do the heavy lifting across affordable housing, delivering First Home Owners Grant extensions and cutting stamp duty. The Announcement: The Real Estate Institute of Queensland has welcomed increased social housing and infrastructure spending in the 2021-22 Queensland Budget but has given a thumbs down to a lack of…
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Celebrity Homes
US Olympic boxing champion Sugar Ray Leonard lists Los Angeles mansion for US$46.5 million
Gold medal boxing champion Sugar Ray Leonard is one of the wealthiest boxers in the world. With an estimated net worth of US$120 million, it’s little surprise the US Olympian’s Pacific Palisades mansion has been put on the Los Angeles property market for a whopping US$46.5 million. It has been nearly three decades since Leonard purchased just two acres of…
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FRANCHISE NEWS
New Laing+Simmons office opening in Sydney’s Rooty Hill
Laing+Simmons Mount Druitt have set up shop in the Western Sydney suburb of Rooty Hill. Headed by Jack and Basel Nahas, the new office will service the growing Rooty Hill, Eastern Creek, Plumpton and surrounding areas. It is set to offer a full suite of real estate services to the local community, including sales, property management, auction services, project marketing…
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Elite Agent
Community housing in regional New South Wales has a 10 year waiting list
The Community Housing Industry Association NSW (CHIA NSW) is calling for urgent action to address the state’s social housing waiting list. There are more than 50,000 households waiting for up to 10 years or more for safe, secure and affordable community housing. CHIA NSW has warned that households on the social housing waitlist are paying unaffordable private market rents, couch-surfing…
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Real Estate News
Australia’s residential development market falls to a seven-year low
Just $4 billion of total residential site sales were recorded in 2020. It was well below the 2014 peak of $11.3 billion, according to Knight Frank’s Australian Residential Development Review 2021. The review also found the national apartment pipeline will drop over the next three years, with just 86,400 new apartments planned across Sydney, Melbourne, Brisbane, the Gold Coast and…
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FRANCHISE NEWS
Belle Property Canberra celebrates their big win at the REIA Awards for Excellence
Belle Property has been nationally recognised with two awards at the Real Estate Institute of Australia Awards for Excellence.
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National
Largest total value rise on record for residential dwellings
The total value of residential dwellings in Australia now exceeds $8 trillion, according to the Australian Bureau of Statistics (ABS). The ABS found the total value of Australia’s 10.6 million residential dwellings rose by $449.9 billion to $8,293.2 billion in the March quarter 2021. This was the largest rise on record for the ongoing study, which looked into the value…
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Elite Agent
Small town business owner achieves international success with LJ Hooker
LJ Hooker Waihi Beach owner Gary Alway has been recognised as a top agent internationally for the real estate giant. Gary reached the top 2.5 per cent of all LJ Hooker agents, with the brand boasting more than 500 offices internationally. The ranking rewards exceptional achievement and showcases the expertise of agents across the multitude of LJ Hooker offices. The…
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COMMERCIAL
REA Group partners with software provider Simpology
Real Estate Australia Group (REA) has acquired a 34 per cent interest in Australian software company Simpology. The software provider offers digital mortgage application and lodgement solutions for broking and lending industries. As a part of their new agreement, REA will take two seats on the Simpology Board. REA plans to use Simpology’s technology to facilitate direct transmissions of digital mortgage…
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Real Estate News
Market Buy and Podium join forces
Online offer management system Market Buy and review and text messaging service Podium have officially joined forces in a move they describe as a “win for agents”.
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BTW
Plan lodged for revitalisation of Cronulla CBD
The Sammut Group has lodged a plan for a $350 million revitalisation of Cronulla's CBD
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APPOINTMENTS
Another key industry executive joins Harcourts leadership team
High profile auctioneer Mitch Peereboom is joining the Harcourts group as Chief Executive Officer Queensland.
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BTW
Mergers herald new era for Herron Todd White
Herron Todd White is merging regional and city operations to create larger state entities
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BTW
SA house prices higher but first time buyers still coming
House prices might be rising but that’s proving no deterrent to first home buyers in South Australia The Announcement: The rising real estate market in South Australia over the past year has proved little deterrent for first time buyers looking to purchase property, according to REISA CEO, Barry Money. “Statistics show that increasing numbers of first-time buyers are taking the…
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Real Estate News
137 fines issued as NSW Fair Trading targets real estate compliance
NSW Fair Trading has been out in force in recent weeks, making sure agents are complying with legislation put in place to protect consumers.
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Real Estate News
New home sales strengthen in May
The Housing Industry Association (HIA) revealed there has been a 15.2 per cent increase in new home sales between April and May.
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Real Estate News
Australian property is selling faster than ever
Demand for property across the country is higher than ever with the average days on market tumbling last month.
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Real Estate News
Female real estate agents sweep the REIA awards
The winners of the 2021 Real Estate Institute of Australia National Awards for Excellence have been announced. Female real estate agents swept the board, winning eight out of 11 of the individual agent categories. REIA President Adrian Kelly said that from the 83 finalists there was an increase in female candidates in the different categories from previous years. OBrien Real…
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Real Estate News
Sales double in Perth suburbs as first-home buyer activity ramps up
New sales data reveals 10 Perth suburbs have more than doubled their sales volumes in the past year. The Real Estate Institute of Western Australia (REIWA) confirmed the March quarter saw strong sales growth across Perth. There was a 31 per cent increase when compared to the March 2020 quarter, but 10 suburbs stood out with more than 100 per…
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Real Estate News
Australian homes selling faster than ever
New statistics reveal properties across Australia sold at record speed in May. The REA Insights Housing Market Indicators report showed the average number of days on-site fell to a historical low of 32 last month. The June 2021 report combined eight key metrics to provide an up-to-date view of the property market and emerging trends. These metrics include search activity,…
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BTW
Buyers stretching debt levels as property prices rise
The Australian Prudential Regulation Authority says the debt-to-income ratio is rising. The Announcement: Australians are increasingly taking on risky levels of debt, new figures from the Australian Prudential Regulation Authority (APRA) have confirmed today. The value of new home loans with a debt-to-income ratio of six and over climbed to $23.77 billion in March. This is an increase from 16.3 per cent to…
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LEADERSHIP
Two Australian cities listed in the top five for entrepreneurial success
Sydney and Melbourne have been highlighted as two of the best cities in the world for aspiring entrepreneurs to start their own business.
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Real Estate News
Antony Catalano and Alex Waislitz invest $6 million in AI business Propic
Australian Community Media’s Antony Catalano and Alex Waislitz have injected $6 million into PropTech start-up Propic to propel its development of Artificial Intelligence solutions for the real estate market. Propic has already developed two AI technology solutions that allow agents and property managers to communicate with clients through automated conversational or text AI at any time of the day or…
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Real Estate News
Herron Todd White names potential growth hotspots
For every Bondi Beach, there are dozens of other suburbs that don’t have the same notoriety, yet have the potential for incredible growth. Herron Todd White has compiled its list of ‘unsung hero hotspots’, which are suburbs that might not get as much attention as their famous neighbours, but are ripe for growth in an already strong property market. NSW…
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Real Estate News
House prices soar at highest quarterly rate in 10 years
Property prices have increased at the highest quarterly rate in a decade a new report has found, with Sydney still the most expensive capital city to buy a house in. The latest Real Estate Institute of Australia Real Estate Market Facts report shows that the weighted average capital city median price increased by 6.8 per cent for houses and by…
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BTW
Strong offers encourage happy vendors to skip under-the-hammer sales
Raine & Horne says recent pre-auction sales indicate perfect time for all types of properties to transact
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BTW
Start-up portal Zango welcomes White family to the register
The Ray White group has invested in Canberra-based portal Zango The Announcement: In a coup for Zango, the owners of the nation’s largest real estate group – Ray White – have taken a stake in the Canberra-based start-up property portal. The White family has thrown its support behind the largely industry-owned property portal, which is going head-to-head with the major media…
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INDUSTRY NEWS
One in five Australians believe crypto is the secret to homeownership
More than a fifth of Australians believe investing in cryptocurrency is an easier way to save for a mortgage deposit than a bank account or traditional savings method, according to new research from Kraken.
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Celebrity Homes
Which celebrity has the most desirable home?
Everyone loves to peek inside the lives of famous celebrities and now a new study has identified which celebrity homes are the most desirable.
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Real Estate News
SA sees massive increase in buyers from interstate
Real Estate Institute of South Australia Chief Executive Officer Barry Money says that REISA’s statistics reveal a sizeable lift in the number of residential properties purchased by buyers whose primary address is outside of South Australia. “We compared the numbers in our own unique data set from January through April with those from the same first four months of 2020,…
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BTW
REIQ urges real estate industry to roll up its sleeves
The REIQ has partnered with the Red Cross to encourage blood donations. The Announcement: With donor numbers on the decline and hospital demand increasing, the Real Estate Institute of Queensland (REIQ) has partnered with the Australian Red Cross Lifeblood to encourage the industry’s 46,000+ real estate professionals across the state to step up and give much-needed blood. “The unprecedented demand…
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Real Estate News
Laing+Simmons: Sharing strategies to scale up
A recent Scaling Up workshop involving Laing+Simmons' principals has reinforced the network's renewed focus on collaboration.
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Real Estate News
Three-quarters of real estate agencies now more profitable than in 2020
More than two-thirds of Australian and New Zealand residential real estate agency office principals are personally taking home higher earnings in 2021 than in 2020, according to a new survey by Juwai IQI. An even higher share of offices – three-quarters – are more profitable today than in 2020, the survey found after interviewing the principals of the 29 offices…
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BTW
REISA welcomes new affordable housing funding deal
The Real Estate Institute of South Australia has lauded an agreement which is designed to improve housing affordability
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Real Estate News
REIA to host ‘getting real’ policy forum to address housing issues
The Real Estate Institute of Australia (REIA) will meet with key political and industry leaders in Darwin on June 9 to present Getting Real, REIA's 2021 Strategic Policy Forum sponsored by realestate.com.au
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