-
Real Estate News
RBA: Economic recovery “likely to be both uneven and bumpy”
The Reserve Bank of Australia has maintained the current policy settings, leaving the cash rate on hold at 0.25 per cent in their August meeting. Below are truncated comments from Governor, Philip Lowe: “The global economy is experiencing a severe contraction as countries seek to contain the Coronavirus. Even though the worst of this contraction has now passed, the outlook…
Read More » -
Elite Agent
Ex-AFL player kicking goals in real estate
Nathan Wright played for St Kilda Football Club between 2013-2018, before an injury sidelined his career prematurely. Now, he has gone on to join another stellar team, as a sales executive with Barry Plant Bayside, turning a hobby he held while playing in the AFL to a thriving career. “While playing AFL, I was lucky enough to purchase a couple…
Read More » -
Real Estate Content
Perth sales activity increased 68% from April low
Despite the value of homes dropping across Australia, sales activity in the Perth metro region increased by 68 per cent in July compared to April. According to REIWA data, the increase was across both dwellings and land sales. “While there are no surprises with the increase in land sales for the month, which saw a 121 per cent increase compared…
Read More » -
Real Estate News
New C21 office opens in Burwood NSW
An experienced team of real estate professionals have opened an agency in Sydney’s inner west under the Century 21 brand. Directors Eugene Ganke, Jada Vi, Betty Lu, and Ricky Kong are a team that are passionate about property. Together they will operate the Burwood real estate business after having worked together in different roles across independent and franchise agencies. “We…
Read More » -
Elite Agent
High-yield commercial property investments still in demand
Investment in high-yield commercial properties, especially those with long-term tenants, is flourishing despite the pandemic, according to RE/MAX U’s Deepen Khagram. “Investors are very focused on yields and we are achieving very good outcomes with commercial property that we are taking to the market,” he said. Mr Khagram recently re-sold a 7-Eleven Service Station in Burpengary East for $5.4m, representing…
Read More » -
Elite Agent
Rent prices take first quarterly fall since 1972
In the first quarterly fall since 1972, rent prices were down 1.3 per cent for the June quarter, according to the latest data from the Australian Bureau of Statistics (ABS). The downward trend coincided with the biggest drop in consumer prices since 1931, with the consumer price index for the June quarter falling 1.9 per cent. “Weak rental market conditions…
Read More » -
Elite Agent
Build-to-rent incentives ‘a shot in the arm’
The Property Council of Australia has spoken out in favour of the NSW Government’s new measures to help boost the growth of the ‘build-to-rent’ sector. “The incentives announced today will help to attract institutional investment into new housing, giving the one-third of Australian households who rent their home more choice, certainty and better amenity,” said the Property Council’s Chief Executive,…
Read More » -
Real Estate News
Homely secures auctioneer Damien Cooley as a brand ambassador
Real estate portal, homely.com.au, has named acclaimed auctioneer Damien Cooley as their new brand ambassador. Off the back of announcing a massive partnership with 400 top real estate agents from across the country, Homely has today shared that two-time REINSW Award for Excellence in Auctioneering recipient, Damien Cooley has become their first official brand ambassador. Mr Cooley has been brought…
Read More » -
Elite Agent
Laing+Simmons tackle mental health
Laing+Simmons has struck a new partnership with Making Meditation Mainstream to bring mediation to local people and help tackle the challenges of mental health in the community. Each Saturday at sunrise, Making Mediation Mainstream takes members of the community through a peaceful, and free, mediation experience. Since launching in 2018 on the Northern Beaches, the movement now operates from 14…
Read More » -
Elite Agent
National rent prices fell over June quarter
National rents have fallen by half a per cent over the June quarter. New figures from CoreLogic’s Quarterly Rental Review show that, although COVID-19 was a significant factor in the drop, the rental market was already weak. Rent values dropped 0.3 per cent in the month of June, and 0.5 per cent over the entire quarter, the largest quarterly fall…
Read More » -
Elite Agent
Stamp duty relief welcomed by Property Council and HIA
The NSW Government’s plans to provide stamp duty relief for first home buyers purchasing newly built properties worth up to $1 million has been welcomed by numerous bodies. Under the new plans, from August 1, the stamp duty exemption limit will be lifted from $650,000 to $800,000 for the purchase of a newly-built home. The stamp duty concession will also…
Read More » -
Mixed results for Q2: all unit prices fall, houses rise in select capitals
Results are in for the second quarter of the year and, according to Domain, all major capital cities saw unit prices fall across the June quarter, with house prices rising in Adelaide, Canberra, and Hobart. It appears the…
Read More » -
Elite Agent
JobKeeper extension applauded as “right move”
The Property Council and Master Builders Australia are among the many industries to applaud the government’s extension of the JobKeeper program. “Today’s announcement by the Prime Minister and Treasurer provides businesses and their employees with the certainty they need for the coming months as we continue to grapple with the public health and economic impact of COVID-19,” said Ken Morrison,…
Read More » -
Real Estate News
Finalists announced for Openn Negotiation Excellence Awards
Online real estate sales platform, Openn Negotiation, has announced the finalists for their upcoming virtual awards night on the 6th of August. This year marks the tech platform’s third annual awards night and first virtual…
Read More » -
Elite Agent
Environmental reform for building codes “sensible and long overdue”
Reforms to the Environment Protection and Biodiversity Conservation Act that aim to streamline regulatory legislation for both housing and commercial property projects have been welcomed by The Property Council of Australia as “sensible and long overdue.” “There has never been a more critical time to ensure that our regulatory regime is free of unnecessary process and strikes the right balance…
Read More » -
Real Estate News
JobKeeper extension likely, but it will come with conditions
An extension of the JobKeeper scheme looks increasingly likely, with Finance Minister Mathias Cormann foreshadowing the likelihood of continued conditional support and the unions welcoming the prospect of further assistance. According to the ABC, details…
Read More » -
Elite Agent
REIV says Victorian property market holding firm
REIV President Leah Calnan says the Victorian property market has displayed true strength in holding firm against all predictions regarding the impact of Covid-19. The latest Quarterly median prices released by the Real Estate Institute…
Read More » -
Real Estate News
Harcourts expands with multi-lingual office in Adelaide CBD
Harcourts has expanded further into the strong South Australian property market, with a new Adelaide City office. Business owner Jing Wang has assembled a young, experienced and multicultural team, with staff who speak Chinese, Mandarin, Italian, and English. Ms Wang has worked within the Adelaide real estate sector for over 15 years, building her own successful business, JinSea Real Estate.…
Read More » -
Real Estate News
Josh Tesolin joins Ray White
Award-winning agent Josh Tesolin is set to soon open his own Ray White business in Quakers Hill. The elite performer has carved out a reputation in Sydney for his incredible work ethic and energy to not only deliver the best customer service but superior results for his clients. Over the past 12 months Mr Tesolin has sold a whopping 170…
Read More » -
Real Estate News
Yes Victoria, you can still move during lockdown
REIV President Leah Calnan has welcomed clarification from the Victorian State Government that a person living outside of a restricted area can inspect a home inside a restricted area and vice versa. Many REIV members were left confused following the State Government’s decision to enforce Stage Three restrictions in Metro Melbourne and Mitchell Shire and not regional Victoria, with many…
Read More » -
Real Estate News
Homely launches new Sold Hub drawing focus to Agent Ratings
Homely.com.au now features Agent Ratings in their Sold Hub and has released a new homepage design. Adam Spencer, Homely’s Co-Founder, said the Sold Hub prominently positions Agent Ratings and ‘Contact agent’ buttons, so consumers can identify top local agents and quickly get in touch with those who’ve had successful sales outcomes for comparable properties to theirs for an appraisal. “We…
Read More » -
Real Estate News
The Agency partners with Cooley Auctions in NSW
In line with The Agency’s continued growth, the brand has partnered exclusively with Cooley Auctions within NSW. This partnership brings the award-winning auctioneering service led by Damien Cooley, and his impressive team of 17 auctioneers, to The Agency. The Agency CEO Matt Lahood said Cooley Auctions auctioneering team is the most booked independent auction service in the country. Damien Cooley…
Read More » -
Real Estate News
Real estate goes online in Covid-19 hotspots
The Victorian Government on Tuesday announced that in light of rising cases of Coronavirus, ten postcodes with the highest amount of incidents would return to Stage 3 restrictions. REIV President Leah Calnan said real estate business will adapt their processes by reverting to inspections by appointment and online auctions in Melbourne’s ten COVID-19 hotspots. “Any return of restrictions is frustrating…
Read More » -
Real Estate News
Planning Development Unit a huge win for good growth in NSW
The Property Council of Australia has today welcomed the announcement from the NSW Government on the new Planning Delivery Unit (PDU) which will work with government agencies to unblock planning projects stuck in the system and streamline planning processes. “Today’s announcement is a significant win for the property and construction industry, and a positive step towards fixing the planning system…
Read More » -
Real Estate News
Boffo is Adelaide’s newest name in real estate
On Wednesday July 1, one of Adelaide’s most successful real estate offices will relaunch as Boffo Real Estate. The agency’s Managing Director, Jarrad Boffo, is excited for the chance to bring his real estate vision to life. “After 17 years being part of a real estate franchise we felt the time was right to launch as an independent agency,” he…
Read More » -
Real Estate News
Super and first home buyer schemes restart tomorrow but are they a good idea?
Two major government schemes restart tomorrow as the new financial year begins but comparison site RateCity.com.au is warning Australians to think before they jump in. From July 1, eligible Australians financially affected by COVID-19 will be able to access up to $10,000 extra from their superannuation. Round two of the First Home Loan Deposit Scheme…
Read More » -
Real Estate News
Independent real estate group BresicWhitney appoints Thomas McGlynn as part of the firm’s growth strategy
Renowned sales leader and auctioneer Thomas McGlynn has joined independent Sydney real estate group, BresicWhitney. The move comes as BresicWhitney continues to deliver on a staged growth strategy. “Coming out of the property market downturn of 2017 – 2019, we made a decision to reshape our operating model to better enable our business to respond to economic shifts,” BresicWhitney co-founder…
Read More » -
Real Estate News
Agents urged to remain vigilant on social distancing requirements
After a return to stricter controls in Victoria, the REINSW is urging agents to remain vigilant when it comes to social distancing. Noting the current situation in Victoria is a timely reminder for all that COVID-19 has not been put to rest, they’re calling on agents to exercise caution, especially at a time when the property market is proving buoyant. …
Read More » -
Real Estate News
Home loan rates hit new record low of 1.99%
Fixed home loan rates continue to tumble, with Bank of Us the first lender to offer the average Australian a fixed home loan rate under 2 per cent. Bank of Us has announced the record-breaking rate of 1.99 per cent, fixed for 1 to 3 years, for owner-occupiers paying principal and interest repayments with a…
Read More » -
Real Estate News
ATO offers tax time tips for rentals
With the end of the financial year imminent, the Australian Taxation Office (ATO) has sought to assist landlords with clear guidelines on what to do this tax time including what you can and cannot claim. Noting the ATO was aware residential rental property owners might be concerned about how COVID-19, floods, or bushfires had reduced…
Read More » -
Real Estate News
Positive signs for spending when restrictions ease
Australians who had reduced spending on items including eating out and recreational activities due to COVID-19 are expecting this to increase when restrictions ease, according to latest data from the Australian Bureau of Statistics (ABS). However, the sixth Household Impacts of COVID-19 Survey found that people who had spent less on items including household furnishings, clothing and…
Read More » -
Real Estate News
Sotheby’s International Realty ready to offer their services to Byron Bay
Experienced agent Dominique Vasers Williams has joined Queensland Sotheby’s International Realty as the brand looks set to service the Byron Bay and Northern Rivers region. A consummate professional who notes real estate is in her blood, Ms Williams said the name Sotheby’s International Realty is associated with luxury, quality properties and service. When asked how long she has been in…
Read More » -
Real Estate News
Homely has joined Harcourts Coastal to co-sponsor the Gold Coast Titans
Real estate portal homely.com.au has teamed up with Harcourts Coastal to become the front-of-shorts sponsor for the Gold Coast Titans NRL team. Homely will appear as the front-of-shorts sponsor on the Titans’ away playing kit while Harcourts Coastal will feature on the home playing kit during the 2020 NRL Telstra Premiership season. Homely Co-Founder, Jason Spencer said he was extremely…
Read More » -
Real Estate News
Noosa scores Qld’s priciest properties and Mackay market soars
Queensland’s residential property market continues to show strong and relatively stable results, with regional markets leading the charge. According to the Real Estate Institute of Queensland (REIQ), the first three-monthly quarter (1 January 2020 – 31 March 2020) indicates the Sunshine State remains resilient. The state’s capital, which achieved the highest number of annual sales, saw modest price increases in…
Read More » -
Real Estate News
Real estate sector focused on selling and renting safely
Real Estate Institute of Victoria (REIV) President Leah Calnan has vowed the real estate sector will continue to do everything it can to help fight Covid-19 as further restrictions were announced across Victoria. In response to an increase in cases of Coronavirus, the Victorian Government announced a return to tighter restrictions which means that crowds at auctions and open house…
Read More »