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Real Estate News
Homebuilder and infrastructure help stimulate buyer activity
The recently announced HomeBuilder grant and major infrastructure projects are attracting committed buyers to entry-level markets in Australia’s capital cities, according to Raine & Horne. HomeBuilder provides eligible owner-occupiers, including first home buyers, with a grant of $25,000 to build a new home or substantially renovate an existing home. To be eligible for the grant, a couple must earn less than $200,000…
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Real Estate News
Prop-tech startup Yabonza makes first acquisition with Easyshare
Australian-founded prop-tech startup Yabonza has acquired sharehouse payments startup Easyshare in a bid to simplify rental payments on its property management platform. The cash and equity deal is the first acquisition for Yabonza and is a move that aligns closely with the platform’s tech, growth and leadership objectives. Easyshare was founded in 2015, with the goal of making payments for…
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Real Estate News
Raine & Horne opens new office in Armidale
Raine & Horne has expanded its New England footprint, opening a new office in Armidale, led by experienced agent Nellie Hayes. Raine & Horne Armidale is an extension of the firm’s office in Glen Innes, which Ms Hayes opened in November 2018. “There was a brilliant opportunity to extend into new territory with the Raine & Horne brand, and I am…
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Real Estate News
Australia’s variable rate hits new record low
An online lender has become the new leader in the mortgage rate wars as variable home loan rates continue to drop, hitting a new record low. Freedom Lend is now offering a variable rate of 2.17 per cent, for new customers with a deposit of 30 per cent of more. RateCity.com.au Research Director Sally Tindall said home loan rates have…
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Real Estate News
Never say never: Bond villa up for sale
Sir Sean Connery was the quintessential James Bond. The screen’s original 007: smart, handsome, refined, debonair and the most popular of the nine actors who took on the classic-spy role created by British-naval-intelligence-officer Ian Fleming in 1953. Instantly recognized by most people through the James Bond film franchise of the 1960s to ‘80s including Goldfinger, Diamonds are Forever, Dr.…
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Real Estate News
Border reopening expected to drive demand for Darwin property
Darwin homeowners and landlords are preparing for a significant surge in activity when the Northern Territory’s borders reopen on 17 July 2020, declared a local real estate expert. Raine & Horne Darwin General Manager Glenn Grantham said even before the border announcement this week, he had received six rapid-fire bookings for a holiday rental apartment in the Darwin CBD. “Typically,…
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Real Estate News
Automated connection services to benefit Qld agencies and tenants
The Real Estate Institute of Queensland is set to launch a new automated utilities connection service which will save agencies time and money, and deliver a better experience for tenants. Part of REIQ‘s Realworks platform powered by Hutly, the new feature uses One Touch Execution and enables real estate agencies to nominate their default utilities connection provider so that all…
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Real Estate News
REIV welcomes new minister
Real Estate Institute of Victoria President Leah Calnan has welcomed the appointment of the Hon Melissa Horne as Minister for Consumer Affairs, Liquor and Gaming Regulation. The Victorian Government yesterday unveiled its new ministry with Minister Horne appointed to the portfolio that oversees the real estate profession. The REIV has written to the Minister, congratulating her on the appointment. Ms…
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Real Estate News
Perth weekly sales transactions hit seven-year high
Data from reiwa.com has revealed over 1000 sales transactions occurred in greater Perth for the week ending 21 June 2020 – almost double the 52-week average of 539 sales per week and the highest level of activity seen since June 2013. REIWA President Damian Collins said the Perth metro market has certainly started to pick back up and is not…
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Real Estate News
Australian expats looking to buy ‘back home’ in the luxury market
Australian expats are increasingly looking to purchase property ‘back home’ as the impact of Covid-19 unfolds, and many of those are looking to buy at the higher end of the residential market, according to a Knight Frank survey. The survey, carried out amongst Knight Frank’s global network of prime agents, found 64 per cent said the lockdown had influenced expats’…
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Real Estate News
Homely hits 400 partners across the country
A milestone 400 launch partners – including many industry heavyweights – have signed on to Homely’s Agent Participation Program nationally, helping the company on its way to its goal of providing an affordable digital real estate marketplace in Australia. The program, which provides agents with a financial interest in a major national real estate portal, aims to create a new…
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Real Estate News
Pandemic doesn’t stop real estate professionals changing lives across the water
When the not-for-profit program Digital Live was conceived in 2017, Steve Carroll was determined to make a difference to the lives of children in need across the water. And he knew exactly who to call on to help make this vision a reality: the passionate Australian real estate industry. Fast forward to 2020 and the achievements are astounding. In just…
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Real Estate News
REIWA Awards recognise best in the west
REIWA has recognised Western Australia’s top real estate achievers for 2020, with this year’s event streamed to hundreds of people. REIWA CEO Neville Pozzi said during a difficult and evolutionary year within the industry, the awards were more important than ever to showcase the fantastic work that has been achieved. “The Awards for Excellence are the highest accolade that can…
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Real Estate News
‘Use grants wisely’: property investment consultancy advises first-home buyers
New building stimulus measures introduced by the Federal and WA State Governments are driving a significant rise in first-home buyer inquiry, according to reports from Perth-based property investment consultancy, Momentum Wealth. Combined with the existing First Home Owner Grant and duty concessions, the Federal HomeBuilder Scheme and State Building Bonus Package could see eligible first-home buyers in WA receive between…
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Real Estate News
Call for ‘mega’ project fast-track to be applied to across the board
Australia’s leading property advocate has called for the fast-tracking of approvals for nation-building infrastructure projects to be adopted across the board by all levels of government involved in planning and construction approvals. The Property Council of Australia welcomed the Prime Minister’s commitment of additional funding to get new local infrastructure projects out of the ground and accelerate approvals for ‘mega’…
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Real Estate News
Off-market listings app changing how WA buys and sells property
With an increasing number of sellers enquiring about off-market listings, an app has been modified to provide West Australians with a new and discreet way to buy and sell property which may not otherwise come to market. REIWA CEO Neville Pozzi said due to the current economic conditions many people were looking for cost-effective and productive ways to buy and…
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Real Estate News
Real estate agents identify key areas of support
The extension of stimulus packages and scrapping stamp duty were among nine key areas of support identified by real estate agents across the country as the industry grapples with the challenges that have arisen during the pandemic. The suggestions were the result of a survey of Real Estate Institute of Australia members about measures that will assist the sector to…
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Real Estate News
Variable home loan rates tumble to record low
The home loan rate war continued to heat up this week as the lowest variable rate in Australia dropped to 2.19 per cent – and experts predict the competition will only intensify. The special from Reduce Home Loans is for owner-occupier variable customers with loans up to $850,000. Analysis from RateCity.com.au shows that at the end of March just 19…
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Elite Agent
Aussies welcome return of small gatherings but big events still a concern
A little more than 60 per cent of Australians were looking forward to larger gatherings of family and friends and dining in at restaurants or cafés, but more than 70 per cent said they were uncomfortable about attending large public events, according to new data released by the Australian Bureau of Statistics. The ABS’s fifth Household…
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Real Estate News
The Agency expands to NSW’s stunning Central West
The Agency has announced its expansion into the NSW Central West, with highly regarded local agent Monica Henley and business development manager Justine Campbell at the helm of the new operation. The Central West, with a focus on Dubbo, Orange, Bathurst and Mudgee, is home to many of Australia’s best-known growers and producers, along with a thriving mining industry. Investment…
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Elite Agent
Nine steps for keeping your office safe in COVID-19
From implementing extra cleaning of frequently touched surfaces to including your shared company cars in regular cleans, there are a lot of extra safety standards you need to consider as your team settles back in at the office. National anti-viral sanitisation company Cleancorp has been inundated with inquiries since the beginning of the pandemic, and company Director Lisa Macqueen said…
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Real Estate News
New home lending takes a dive in pandemic
Home lending has plunged in the wake of COVID-19, with the value of home loans falling dramatically in April – and the worst could be yet to come. The Australian Bureau of Statistics lending indicator data released this week shows new lending dropped by $935.5 million (or 4.80 per cent) compared to March 2020, according to the seasonally adjusted data.…
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Real Estate News
Inner Sydney vacancies hit 18-year high, as uncertainty continues to impact residential rental market
The REINSW Vacancy Rate Survey results for May 2020 reveal that vacancies continue to rise across much of New South Wales as Covid-19 disruption continues to impact the residential rental market. Vacancies in Sydney increased for the third consecutive month and now sit at 4.1 per cent, up 0.3 per cent from April and 1.1 per cent from March. “Sydney’s…
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Real Estate News
Westpac Group cuts new customer rates in a bid to boost its home loan book
Australia’s second largest bank, Westpac, has cut its basic variable rate to 2.69 per cent, but the offer is solely reserved for new customers with a deposit of more than 30 per cent. Westpac’s new rate is now the lowest variable home loan offered by a big four bank. Westpac Flexi First Option Home Loan changes: Note: above rates are…
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Real Estate News
Ray White Gladstone celebrates 40 years
Ray White Gladstone is celebrating 40 years in the business after being opened by brothers Bruce and Edgar Allen on May 27, 1980. Taken over by Bruce Allen’s son Andrew Allen and co-director John Fieldus in 2008, much like the Ray White Group, the business has stayed in the family since its beginning. Andrew Allen notes it brings him and…
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FRANCHISE NEWS
@realty to offer agents full commission
@realty has this week unveiled a new earning scheme for agents, who will have the ability to move from @realty’s standard 93 per cent commission to 100 per cent. Under the new scheme, once agents have paid $20,000 in service fees through their standard commission, they will be eligible to retain 100 per cent of commission earned on any further…
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Real Estate News
Building bonus fails to address the big impediments to job creation: REIWA
REIWA has expressed disappointment that the Federal and State Government’s building bonus schemes failed to address the biggest impediment to job creation and hurts those who can afford it least. REIWA President Damian Collins said the Institute understands that HomeBuilder and the WA Building Bonus Scheme are aimed at providing short-term jobs at a crucial time, however both the Federal…
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Real Estate News
Will Ainsworth joins Openn Negotiation
Online selling platform Openn Negotiation has appointed Will Ainsworth, former Principal of McGrath Geelong, as Head of Growth & Training for Australia and New Zealand. Mr Ainsworth was the top selling agent for the McGrath network in Victoria for the last three years, maintaining an impressive record of more than 90 per cent clearance rate and selling more than 100…
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National
REIA welcomes Federal Government Housing Stimulus package
The Real Estate Institute of Australia has welcomed the Government’s announcement of the ‘HomeBuilder’ package to support the residential building sector by providing assistance to owner occupiers to build new homes and renovate existing ones. “The REIA believes that the Federal Government’s announcement of the HomeBuilder scheme today will be a massive boost to the employment of home builders and their tradesmen…
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Real Estate News
Realtor.com names Rachel Morley as Chief Product Officer
Real estate technology platform Realtor.com has promoted Rachel Morley to Chief Product Officer, where she will lead product strategy for the company. For more than two decades, Ms Morley has helped companies conceive, create and evolve products and technology practices that help organisations and their customers succeed. David Doctorow, CEO of Move, Inc, operator of realtor.com, said Ms Morley is passionate about…
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Real Estate News
realestate.com.au introduces buyer demand index
REA Group has launched a new residential buyer demand index, to help consumers understand the ebbs and flows of the market, including when to buy and sell. REA Insights Weekly Demand Index is part of the group’s dedicated data and insights function, and showcases the deep and unique insights potential buyers can expect on the property market. The launch comes as…
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Real Estate News
New home builds to hit GDP in coming months
New home building activity is expected to weigh further on Australia’s GDP growth in the second half of 2020 after already detracting from GDP for the last 18 months prior to COVID-19. Housing Industry Association Chief Economist Tim Reardon said following this week’s negative GDP result for the March quarter – and the expected negative result for the June quarter…
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Real Estate News
Perth rental stock dropping rapidly
Perth’s rental stock has been quickly absorbed, with listings falling by 17 per cent in May to 4,676 – the lowest they have been since November 2013. REIWA President Damian Collins said despite speculation about a potential challenging real estate market, according to the May reiwa.com data overall it is doing quite well. “The strong demand we have seen for…
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Real Estate News
How working from home has impacted property professionals
Working from home during the pandemic was an easy adjustment for most property professionals, with many saying they were more productive away from the office and felt empowered by the opportunity, a new survey revealed. Real estate software solutions company MRI Software conducted a survey of 721 residential, commercial and strata industry professionals in April to understand how working from…
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Real Estate News
realestate.com.au sets new audience record
11.2 million people visited realestate.com.au in April setting a new audience record for REA Group, underpinned by a strong increase in buyer activity across the site. The result was up 55 per cent year-on-year, and backed up a total of 109 million visits (up 37 per cent), an increase of 37 per cent in traffic to the site’s buy section,…
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