INDUSTRY NEWS
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REIACT appoints new chief executive officer
The Real Estate Institute of the ACT (REIACT) has appointed Maria Edwards to the CEO role, taking over from Michelle Tynan.
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New Zealand property values decline at GFC levels with further falls predicted
Agents taking stock of Australia's deteriorating market conditions should spare a thought for their Kiwi cousins, with values in New Zealand falling further than predicted in 2022.
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Combating Taree’s rental crisis with transitional housing
The rental crisis across Australia is reaching extreme levels, with some of the biggest shortages occurring in regional areas forcing vulnerable people into incredibly challenging situations.
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Victorian suburbs top the list for best buying opportunities in 2023
Victoria has topped the list for the most suburbs that offer great buying opportunities in 2023 according to a new report.
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Uptick in property listings during November, PropTrack says
New property listings rose during November, according to a new report, with regional areas witnessing the largest increase.
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Ten Sixty, a new short form video app for real estate – brings on Josh Flagg in advisory role
Australian startup, Ten Sixty the new global short-form video app for real estate announces that top Douglas Elliman luxury agent and star of Million Dollar Listing, Josh Flagg and the media company he founder Estate Media, will become advisors to the rapidly growing real estate platform, that’s bringing real estate into the era of short form videos.
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Purplebricks ads back to “shouting about” low fees, as UK cost of living crisis bites
UK agency Purplebricks says a decision to revive an advertising campaign targeting real estate agent commission is paying dividends, after blaming a previous change in marketing direction for profit losses.
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Queensland’s top sales for 2022
Water views were the order of the day for some of Queensland's top residential property sales this year.
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NSW state government bans rental bidding
The controversial practice of rental auctions is set to be banned in NSW from this Saturday.
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Expensive property markets leading the downturn but end could be in sight
The country’s most expensive property markets have been bearing the brunt of higher interest rates, however, 2023 could mark a slowing in the rate of declines according to a new report. CoreLogic’s annual Best of the Best Report for 2022, found that Sydney has been hit hardest by rising borrowing costs along with other higher-priced housing markets. CoreLogic Head of…
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A perfect storm: Australia’s rental crisis – part three
In part three of A perfect storm: Australia’s rental crisis we examine two more potential solutions to the issue, including how lowering the lending buffer may encourage investors to re-enter the market and how accepting offers of higher rent could fuel the rental affordability side of the crisis. You can catch up on the other parts of the story here.
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Why aren’t house prices falling more quickly?
We have come off the sharpest rise in house prices ever recorded to now being greeted with the sharpest increase in interest rates since the 1980s. Despite this, house prices are not falling by as much or as quickly as you would expect. At this point, it is looking like we may not even get to a 10 per cent…
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A perfect storm: Australia’s rental crisis – part two
In part two of A perfect storm: Australia’s rental crisis we examine two potential solutions to the issue, including how a change in mindset could help bring landlords and tenants on the same page and how axing stamp duty could ease the pressure. You can catch up on the other parts of the story here. Solution: Changing the ‘us versus…
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Rising costs forcing renters back into share accommodation
Rising living costs are forcing more people back into share accommodation, as renters continue to get squeezed.
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A perfect storm: Australia’s rental crisis – part one
Australia is in the grip of a housing crisis. More specifically, a rental crisis. Vacancy rates are at record lows, weekly rents are skyrocketing and there’s simply not enough houses to go around.
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More growth on the cards for The Agency on the Apple Isle
Tasmania is shaping up to be a major player in The Agency’s push to increase its national presence, with the brand flagging more growth is on the cards in the new year.
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REINSW calls on NSW Government to stop the rental crisis blame game
The Real Estate Institute of NSW has hit out at the State Government’s implication that property managers and landlords are to blame for the state’s rental crisis, following news this week that the practice of ‘rent bidding’ was being investigated.
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Queenslanders cop the biggest rent rise in nearly 20 years
Rents have risen sharply across the country over the past 12 months, with Queenslanders being hit with the biggest increase in nearly 20 years.
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Tough conditions for mortgaged New Zealand investors
Homeowners across New Zealand who own multiple mortgaged properties face tough buying conditions as regulations and higher interest rates make it harder to purchase homes.
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Cunninghams expands on the Northern Beaches
Cunninghams Northern Beaches has continued its expansion after merging with the former LJ Hooker Collaroy team.
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Property market was a rollercoaster in 2022
From a once-in-a-generation property boom to a clear downturn, Australia’s property market has been a rollercoaster in 2022.
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Refinancing burst takes off as rates rise
More Australians are refinancing their home loans at greater rates and for larger amounts on the back of rising interest rates, new data shows.
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Big Four banks quick to pass on interest rate rise
Well, that didn’t take long. Just a few hours after the Reserve Bank lifted the cash rate 25 basis points to 3.10 per cent at its final meeting for 2022, all four big banks announced they would pass the hike on in full.
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Cash rate hits highest point in a decade
The cash rate is now at its highest level since 2012, with the Reserve Bank of Australia (RBA) using its last monetary policy meeting of 2022 to lift the cash rate 25 basis points.
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REIV calls on re-elected State Government to act on stamp duty reform
Disappointed that the real estate sector still doesn’t have a dedicated ministerial portfolio, the Real Estate Institute of Victoria is calling on the re-elected State Government to focus on “good property sector policy”.
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Adelaide and Brisbane to be the strongest performers in 2023
The smaller capital city markets of Adelaide and Brisbane are set to be the top-performing property markets of 2023 according to a new report.
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Jarrod O’Neil joins The Agency in WA
One of Western Australia's top real estate agents and recently crowned REIWA Grand Master for 2021/2022, Jarrod O'Neil, has joined The Agency.
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Auction clearance rates hit a seventh-month high
Auction clearance rates have bounced back to a seventh-month high as vendors are now more prepared to meet the market according to a new report.
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First-home buyers choosing pets over family
First-home buyers would rather have more space for a pet than be close to their family according to new research.
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New home lending falls to lowest level in three years
New home lending has fallen to the lowest level in three years as industry experts believe it's time for the RBA to stop hiking interest rates.
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High performers turn to tech for the edge
Technology continues to play an increasing role in the real estate industry, with more and more high performers relying on online platforms, such as Market Buy, to drive their success forward.
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Auction volumes drop across Sydney in November but sentiment starting to change
Sydney auction volumes have halved compared to this time last year as uncertain vendors have moved across to private treaty sales according to an expert.
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Busiest auction week since June
The combined capital cities have had the busiest auction week since mid-June, with 2506 homes going under the hammer.
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Cash rate expected to rise again on Tuesday
The odds of another cash rate rise at this month’s Reserve Bank of Australia (RBA) meeting remain high, with 88 per cent of experts tipping another hike is on the cards.
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Vacancy rates hold steady in November
Vacancy rates across the country remain at record low levels, holding steady at 0.8 per cent according to Domain.
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