INDUSTRY NEWS
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Outer Melbourne and regional Victoria continue to set record prices
Melbournians have continued to leave the inner-city, with values in outer suburbs and regional areas at record highs.
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First home buyers exceed their budget to get on the property ladder
Record high home prices and underquoting are forcing first home buyers to pay more than they expected with 37 per cent exceeding their budget.
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Home prices falling in 40 per cent of markets
Declining property prices have gathered steam with 40 per cent of house and unit markets falling in the past three months.
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Office occupancy levels hold steady in June
Workers returning to CBD offices has slowed down last month, as the impacts of floods, the flu season and interruptions to rail networks forced people to stay home.
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Prospective Perth tenants lose thousands in rental scams
Scammers have targeted prospective tenants in Perth, with two unsuspecting victims losing $23,500.
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Sixth week of auction clearance rate below 60 per cent
Auction activity remains 20 per cent lower than this time last year, with 1667 properties taken to auction this week, resulting in a preliminary clearance rate of 56.4 per cent.
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Toorak mansion set to become state’s most expensive home
A stunning Melbourne home designed in 1936 is set to smash Victoria’s property price record if it sells for its $65 -$70 million price tag.
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Knight Frank and Fred Schebesta examine how crypto, NFTs and the metaverse might shape Australian real estate
Global property consultancy Knight Frank has turned its attention to the rise of cryptocurrency, NFTs, and the metaverse, with the group joining forces with Finder founder and crypto investor Fred Schebesta to decode some of the Australian trends emerging and how they impact real estate.
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Property market records busiest start to winter in a decade
The Australian property market has started winter strongly, with new listing volumes reaching the highest June level in more than a decade.
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Rents surge by a record 12 per cent across the capitals
Australia's rental crisis has deepened with tight vacancy rates contributing to a record 12 per cent jump in house rents over the past year.
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Rent.com.au partners with Origin Energy
Rent.com.au has entered into a new partnership with electricity giant Origin Energy to offer electricity and gas services to Rent.com.au customers.
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Retail customers ‘flock back’ to in-person shopping
After a surge in online retail sales, customers have begun to “flock back” to in-person shopping, with experts suggesting bricks and mortar stores are far from dead.
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NSW Government to appoint independent statutory property services commissioner
The NSW Government has announced it will appoint an independent statutory Property Services Commissioner from August 1 to drive reform, boost industry standards and support consumers.
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Perth sales activity jumps 20 per cent
Real estate sales activity in Perth surged 19.8 per cent during the 2021-22 financial year, according to the latest data from the Real Estate Institute of WA (REIWA).
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The 10 Perth suburbs where house prices rose at least 26 per cent
Five of Perth’s top 10 price growth suburbs now saw their median house sale price soar above $1 million for the first time last financial year.
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Clearance rate inches higher despite subdued auction market
Auction markets remained subdued this week with just 1610 properties going under the hammer across the combined capitals, resulting in a preliminary clearance rate of 58.6 per cent.
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ANZ tips next rate rise to be 50 basis points
One of Australia’s biggest banks has tipped another 50 basis point cash rate rise in August as the Reserve Bank of Australia moves swiftly to put a lid on rising inflation.
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‘Little respite’ for falling New Zealand property market
New Zealand could be on the cusp of a Global Financial Crisis-like property market downturn with “little respite” for falling house prices in the coming months, according to an industry expert.
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NAB, CBA and ANZ all lift variable home loan and savings rates
The NAB, CBA and ANZ have all passed on the full interest rate hike to variable rate mortgage customers following the Reserve Bank of Australia lifting the cash rate 50 basis points last week.
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Interest rate hikes quell commercial property FOMO
The sense of urgency appears to be leaving the commercial property market as first-time buyers exit in the wake of increased interest rates.
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The Perth suburbs where houses sell in just 7 days
Perth’s property market is still experiencing a “high level of buyer demand” with a number of suburbs selling in record time.
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Vacancy rates at lowest level on record
National vacancy rates have plummeted to a record low of 1.2 per cent, while rental values have soared 2.9 per cent in the three months to June.
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REIQ concerned about “heavy-handed” changes to rental laws
The Real Estate Institute of Queensland (REIQ) fears investors may "tap out" and sell their rental properties as a result of legislation changes due to take effect from October 1.
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LJ Hooker South Coast offices ready to save a life
Ten LJ Hooker real estate offices on the NSW South Coast have been fitted with lifesaving medical equipment in a bid to reduce the number of Australians that die from the nation’s biggest killer each year - sudden cardiac arrest.
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Another cash rate hike with more to come
The Reserve Bank of Australia has warned homeowners more interest rate rises will follow as they raised the official cash rate 50 basis points, to 1.35 per cent, at its monthly meeting today.
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Top agent finds harmony in life balance
Alex Jordan is one of the highest-achieving real estate agents in Queensland and says looking after his health has been crucial to that success.
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It’s a landlord’s market: vacancy rate at record low
Australia’s rental vacancy rate is at the lowest point on record, with the market remaining firmly in landlords' favour according to the latest Domain Vacancy Rate Report.
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Australia’s housing market downturn building momentum
Adelaide is the only capital city still recording monthly property price growth higher than one per cent, with market experts tipping the rate of housing value decline will gain pace and spread further in coming months.
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Over 90 per cent of experts tip interest rates to rise in July
There’s likely to be more pain ahead for borrowers, with 91 per cent of experts tipping the official cash rate to rise tomorrow, according to a new survey.
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Mining towns back in vogue as yields hit 10 per cent
The resurgence of mining towns is back as investors again look at the potential for high capital growth and high yields.
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Market Buy hires Will Farmer to run its US operation
Market Buy has welcomed a new recruit to lead its American operation as the online offer management company ramps up its rapid expansion into the US.
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Lowest preliminary clearance rate in two years
The preliminary clearance rate has dropped to its lowest level in more than two years after auction volumes further declined this week.
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Home Guarantee Scheme expands to 40,000 places
Property market leaders have welcomed the expansion of the Federal Government’s Home Guarantee Scheme (HGS), but cautioned rising interest rates and inflation remained key issues for first-home buyers.
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Rising rates putting pressure on home prices
Brisbane property prices have fallen for the first time since April 2020, with rising interest rates dampening buyers' enthusiasm for purchasing.
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Why you need to future proof your real estate agency
Whether you have been in business for years or are thinking of starting up, managing your agency and building a valuable asset needs a solid legal foundation.
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