INDUSTRY NEWS
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Record low rental affordability puts low-income earners under severe rental stress
Surging rents and low vacancy rates are putting an increasing number of households under rental stress, with low-income earners the hardest hit according to a new report.
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Queensland housing crisis action plan revealed
A multimillion dollar cash injection to help struggling tenants stay in their homes, along with an audit of government-owned land will be among the Queensland Government’s response to the recent Housing Summit.
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Property values fall for seventh consecutive month
Property values have dropped more than $50,000 since their peak in April according to the latest CoreLogic Home Value Index.
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Home prices fell in November as rates pressure buyers
Interest rate pressure is contributing to the “downward trend” in home prices, with new data showing values declined again last month.
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The Agency expansion gathers momentum with Rockhampton launch
National real estate group The Agency has continued its expansion in Queensland, launching an office in Rockhampton.
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Otago named Australia’s most family-friendly suburb
It’s getting easier for homebuyers to get into family-friendly suburbs as more stock comes onto the market according to new research.
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Prime residential price growth to slow in 2023
Prime residential property prices in Sydney and Melbourne are expected to remain flat next year, after performing well in 2022, according to a new report.
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Unit growth falls into negative territory
Annual growth for units across the country has slipped into negative territory, with values down 1.4 per cent compared to this time last year, according to CoreLogic.
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Nerida Conisbee: Where you should have bought a decade ago
Over the past decade, the median in Sydney has increased the most. There are a lot of factors that have driven this.
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Tenancy law reforms haven’t stopped investors
Tenancy law reforms in NSW and Victoria have only had a small impact on landlords’ decisions to purchase or sell rental properties according to new research.
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Agent of the year on the property marketing tool you need in 2023
Brisbane Inner West Realty Director Kathleen Luck is doubling down on technology to take her property marketing to the next level in 2023, and says other agents need to do the same to set themselves apart.
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Renters now need to work six hours more to pay rent than before the pandemic
Rising rents are forcing US tenants to work more than six extra hours per week, just to afford the same property compared to prior to the pandemic.
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Properties selling faster than prior to the pandemic
Despite overall demand slowing down since the peak of the boom, properties across the country are still selling faster than they were before the pandemic, according to new data.
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Lisa Pennell joins Barry Plant as chief operating officer
Lisa Pennell will approach her new role as the Barry Plant Group’s chief operating officer with curiosity and a deep desire to understand the group as a brand as well as individuals.
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Vendors slash asking prices as selling conditions get tougher
Some vendors across Sydney are cutting their asking prices by as much as $800,000 as the market continues to shift.
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New real estate reality show rumoured to be in the works
With Luxe Listings Sydney becoming one of the big TV hits of the past few years, a new real estate-based reality show is rumoured to be in the works.
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Auction volumes continue to rise in lead-up to Christmas
Auction volumes have risen further this week, and the trend is tipped to continue in the lead-up until Christmas.
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More land is required to build one million new homes
The government will need to release more land if they’re to meet their goal of building one million new homes in five years according to experts.
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Property values have soared in the past 20 years while rents lag
House prices across Australia have more than doubled in the past 20 years, however, rents have not been able to keep pace with soaring values.
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Fixed-rate mortgages could hit 7 per cent in New Zealand
One-year fixed-rate mortgages could surge as high as 7 per cent in the coming months putting even more pressure on New Zealand property prices according to an expert.
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Does selling off-market come at a cost?
Choosing to sell your property off-market could be costing you as much as $60,000 according to a new report.
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Busselton and Bunbury lead regional growth in WA
The south west of Western Australia has continued its strong recent performance, with Busselton and Bunbury the top performers for price growth in the September quarter.
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South Australian Government to review rental laws
The South Australia State Government has announced an extensive review of the Residential Tenancies Act.
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Cheapest suburbs to buy within 10km of the CBD
As office workers return to their pre-pandemic lives and head back to CBDs, there are still a number of affordable inner-city suburbs for homebuyers looking to move back to the city, according to a new report.
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Falling prices making access to liveable suburbs easier for buyers
Melbourne is now the most affordable city to purchase a house in suburb that is considered “livable” according to a new report.
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Flood toolkit to help NSW real estate industry
The Real Estate Institute of NSW (REINSW) has updated its Disaster and Flood Relief Toolkit to help agencies and property managers better support their landlords and tenants, as well as take care of themselves.
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Is the Federal Government’s one million home plan already in jeopardy?
The Housing Industry Association (HIA) has warned the Federal Budget goal of creating one million new homes in five years could already be on rocky ground.
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Prestige property market mixed across the country
The prestige property market has softened on the East Coast but continues to hold up well in the smaller capital cities according to the latest Herron Todd White (HTW) Month in Review.
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Real estate agents turn ethics index on its head
The 2022 Governance Institute of Australia Ethics Index has been released and, once again, real estate has ranked pretty low on the list of ethical occupations.
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Market Buy agents score top REIQ awards
Two of Market Buy’s most high-performing agents have received accolades at the Real Estate Institute of Queensland Awards for Excellence, one of the industry’s most prestigious events.
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Nerida Conisbee: Australia the knockdown nation
In the 12 months to June 2022, there were more houses knocked down in Australia than ever recorded before.
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Auction activity increasing as the countdown commences to Christmas
Auction activity increased this week and that trend looks set to continue, with CoreLogic tipping there will be a further rise in volume next week as the countdown commences until Christmas.
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Canberra’s first electric vehicle apartment development
In a first for Canberra, a new apartment development will include individual Electric Vehicle (EV) chargers for each apartment in a bid to make the building more environmentally friendly.
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Next property boom could begin in mid-2023
The next property boom could start as soon as mid-2023 according to experts. Ayre Real Estate’s Directors Adrian Wilson and Craig Donohue have predicted that buyers should look to get into the market now ahead of a market turnaround when interest rates begin to fall. The Sydney city prestige apartment specialists said during the next boom apartments will likely outpace…
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