INDUSTRY NEWS
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Australia’s rich-listers buy and sell over Christmas
Australia's mega-rich have been buying and listing lavish properties during the Christmas-New Year period, with Atlassian Co-founder Scott Farquhar paying a whopping $130 million for the Point Piper trophy home ‘Uig Lodge’.
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Nerida Conisbee: Australian economy slows but interest rates will keep rising for now
The latest inflation figures showed that it increased at a faster rate in November than it did in October, dashing hopes of a stop to interest rates rises at the start of this year.
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Construction costs show signs of easing after record increase
Residential construction costs rose by a record amount last year, new data shows, but signs of a slow down emerged in the latter months of 2022.
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When should NSW first-home buyers consider stamp duty over property tax?
It would take more than a decade for first-home buyers in NSW to be better off opting for stamp duty over the state's new property tax, though the scheme does risk inflating prices for properties under $1.5 million, Domain's Chief of Research and Economics says.
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Entire Tasmanian town of Tarraleah is back on the market
Tarraleah, a former hydro town in Tasmania, is back on the market following a Covid-disrupted campaign, with listing agent Ed McKay hoping 3D tours and a targeted video campaign will help bring it to the attention of high-profile investors.
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Call for athlete villages to be turned into low-cost housing
Real estate bodies and community housing advocates have called on the Victorian Government to turn Commonwealth Games accommodation, built for athletes in rural areas, into much-needed social and low-cost rental homes once the games are over.
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@realty creates a free AI tool for all agents to use
The real estate sector has experienced a major shift in the way agents and agencies conduct their business.
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New UK start-up aims to split costs of owning a second home
A UK-based fractional ownership startup that aims to make owning a second home more affordable has launched, offering the chance to purchase a share in one of four luxury London apartments.
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Rental home cull as rents rise at their steepest annual rate on record
Australia’s rental crisis isn’t looking like it will ease anytime soon with more than 6000 affordable rentals to be scrapped under a national scheme this year, while the latest Domain Rent Report shows Australia recorded its steepest annual rental increase on record in 2022.
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Australia’s top 100 streets for property values revealed
A new report from Suburbtrends has uncovered the top 100 streets in Australia for high-value properties.
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Inflation figures bounce back in November
New inflation data from the Australian Bureau of Statistics shows the consumer price index rose 7.3 per cent in the twelve months to November, up from October's 6.9 per cent.
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Casey Estate Agents are preventing property manager burnout in 2023
Melbourne-based property management agency, Casey Estate Agents, are giving their team access to technology that will streamline their workload and help manage burnout, particularly over the school holiday.
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Western Australia’s housing supply hits a new low
The number of properties for sale and rent in Western Australia hit a 12-year low in December, according to the Real Estate Institute of Western Australia.
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PropTrack, CoreLogic report slowdown in rental price growth
Rental prices finished 2022 at a significantly higher level than they were the year prior, but price growth began to moderate during the December quarter, according to a new report from PropTrack.
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The best locations for cash flow in 2023 revealed
Property investors chasing lower holding costs should set their sights on larger regional cities, according to a new report from Propertyology.
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Building approvals fall again as RBA’s rate rises hit home
An economist is urging the Reserve Bank of Australia to "hold fire" on future rate rises after new building approvals declined again during the month of November.
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New property listings plunge in December as homes stay on the market longer
The number of new listings hitting the market in December fell by 31.1 per cent when compared with Novembers figures, according to the latest update from SQM Research.
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Foreign buyers look to Australia after Canada ban
Canada’s decision to shut the door on foreign buyers could prove a bonus for the Australian property market, according to experts.
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Australian property values record largest decline on record
Australian property values have clocked the largest decline on record, dipping by 8.4 per cent between their peak on May 7 2022 and January 7 2023, according to CoreLogic.
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NSW Labor to shake up pets in rentals and stamp duty if elected
NSW Labor has hit the campaign trail hard, promising to extend first-home buyer stamp duty exemptions and make renting with pets easier if elected in March.
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Homebuyers ditch location for lifestyle
Once real estate was all about location, location, location, but now lifestyle, lifestyle, lifestyle is at the forefront of buyers' decision making, according to a leading property expert.
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New population report reveals what Australia’s cities will look like in 2033
Melbourne remains on track to overtake Sydney as the country's largest city within the next decade, according to new modelling.
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2022 the worst year for property price drops since the GFC
December home price figures paint a mixed picture for a property market that came under intense pressure from rising interest rates during 2022, with some smaller capital cities still recording positive price growth despite a decline in national values not witnessed since the Global Financial Crisis.
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Perth property prices tipped to rise in 2023
Low stock levels and high demand will continue to see property prices rise in Australia’s most affordable capital city - Perth - in 2023.
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Simon Pressley’s 2023 property market predictions
House prices will rise between two and seven per cent in the majority of capital city and regional locations in 2023, a leading property analyst has predicted.
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The top 50 residential real estate influencers and innovators for 2022
There is rarely a dull day in real estate. From mergers and acquisitions, pivoting in a changing market and continued acceleration of PropTech, 2022 has been a year for the record books.
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Only 7 per cent of suburbs in New Zealand not experiencing price declines
While most suburbs in New Zealand have been experiencing steep home price declines in the past three months, there are still areas that have seen growth according to CoreLogic.
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Demand for quality commercial assets to increase in 2023
Demand for value-add commercial assets and locations that will experience strong population growth will be a key focus for investors in 2023 according to an expert.
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O*NO Legal’s new webinar tackles start-ups and early growth
With more and more real estate agents opting to start their own agency it’s increasingly important to understand the options available, and how to stay on track.
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Distressed property sales could increase next year: HTW
The end of many borrowers' fixed-rate loan term in 2023 is expected to present a significant challenge for real estate values, according to a new report.
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Home buyers search for ways to save as rates rise
Home buyers searching for information on interest rate rises exploded in 2022, with new research suggesting thousands of Australians are looking to cope with higher borrowing costs.
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Regional home prices hold up better than the capital cities
After booming throughout the pandemic, regional property prices have continued to outperform the capital cities in 2022, driven by ongoing demand and tight supply, according to a new report.
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Two Toorak records among Victoria’s top sales in 2022
Two state records set in just a matter of days in August topped the list of Victoria's most expensive home sales this year.
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Some of the NSW property sales that wowed us in 2022
There's no doubt Sydney has some of the most luxurious homes in the world and some of the top sales this year didn't disappoint. Let's take a look!
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New online marketplace looks to match agencies, principals with PropTech startups
A new platform designed to link PropTech startups with agencies and principals seeking to diversify their business or fill a technology gap has launched and is calling for new participants in 2023.
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