INDUSTRY NEWS
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Tight Perth rental market needs more investors
Perth’s low vacancy rate has left 12 suburbs across the city with just one property available for rent.
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Cash buyers on the rise across New Zealand
Cash buyers who own multiple properties are on the rise across New Zealand according to new data from CoreLogic.
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House prices continue to rise as other dwelling values slow down
Australian house prices recorded another increase over the March quarter, while other dwelling types saw price growth slow down.
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Elders agents to streamline buying and selling with Propps
Leading digital offer management platform Propps has expanded its national agency coverage, welcoming the Elders Real Estate network to the fold.
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NSW to phase out stamp duty and bring in land tax
NSW is set to move forward with plans to phase out stamp duty and introduce a land tax as a part of the upcoming pre-election budget. But real estate industry experts aren’t so sure the plan will benefit homebuyers. According to the Sydney Morning Herald, NSW Premier Dominic Perrottet will look to embark on significant reforms that will allow some…
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Investors divided on the benefits of buyer’s agents
Australian investors are divided about whether or not they would use a buyer’s agent, with many feeling they don’t represent good value for money, according to new research.
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Aussie homes worth a record $10 trillion
The total value of the nation’s residential property increased by $221.2 billion in the March 2022 quarter, bringing the value of Australian real estate to a record-high $10.2 trillion, according to the Australian Bureau of Statistics (ABS).
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Rex checklist helps agencies kick CRM goals
A free checklist from real estate technology experts Rex ensures property professionals can tailor their customer relationship management strategies to hit the ground running in the new financial year.
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Households well-placed to absorb interest rate rises
Despite doom and gloom headlines about rising interest rates and the increased cost of living, data from the Reserve Bank of Australia reveals many Australian mortgage holders are well-placed to absorb further interest rate rises.
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Gavin Rubinstein’s TRG to expand without Ray White branding but still part of the group
Just three years after opening the doors to its Woollahra office, Gavin Rubinstein’s TRG agency is set to expand to Rose Bay - but it won’t be doing it with Ray White Branding.
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Sydney vacancy rate hits 5-year low
The vacancy rate across Sydney has plummeted to a five-year low, putting the city on the verge of a rental crisis, according to the Real Estate Institute of New South Wales (REINSW).
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Renovated Love It or List It home for sale in Oyster Bay
An Oyster Bay home that starred in Season 3 of Love It or List It has hit the market for the first time since undergoing a major renovation on the show under the guidance of interior designer Neale Whitaker.
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Clearance rate and auction volumes drop over Queen’s Birthday long weekend
A long weekend in most states saw auction volumes drop this week, with 1393 auctions taking place across the combined capitals, resulting in a preliminary clearance rate of 58.5 per cent.
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Competition watchdog to examine PEXA
The competition watchdog has confirmed it is looking into claims digital settlement company PEXA has stymied competition in the property settlements market.
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App gets more offers on off-market properties
Launched in Sydney this month, Profound is a marketplace for off-market properties where agents can get access to more offers.Â
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New listings rebound after a quiet April
The number of new listings across the country continues to rise, jumping 12 per cent across the capital cities compared to last month according to PropTrack.
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CBD office occupancy rates rise as workers return
Office workers are flocking back to CBDs across the nation despite Covid and a rising number of flu cases.
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Homeowners and renters facing record levels of financial stress
Financial stress has reached record levels across Australia as homeowners and renters struggle to keep up with the ever-increasing cost of housing as interest rate rises start to bite.
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Growth across capital cities slowing at
record paceThe annual rate of price growth across Australia's capital cities is slowing at the fastest rate since 1989.
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Buyers and renters continue to struggle with housing affordability
Housing affordability has continued to fall with more pain ahead according to the Real Estate Institute of Australia (REIA).
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Is there a better way to utilise Australia’s 13 million spare bedrooms?
Recently, the Australian Bureau of Statistics (ABS) released its latest Survey of Income and Housing. One interesting piece of analysis looked at the number of spare bedrooms around Australia.
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RBA goes ‘hard’ with interest rate jump
Higher than expected inflation has seen the Reserve Bank of Australia lift the cash rate for the second consecutive month, with today’s 50 basis point increase taking the official interest rate to 0.85 per cent.
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Australia is the 13th strongest property market in the world
A number of Australia’s major cities have featured in the global list of best-performing housing markets over the past 12 months.
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Rents and mortgage repayments to keep rising
Rents and mortgage repayments are expected to continue to rise over the next 12 months, putting more pressure on households already struggling with the high cost of living.
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Lenders have been quick to pass on interest rate hikes
Following the first cash rate hike in over a decade, lenders have been quick to pass on the rate rise to borrowers, with 95 per cent of lenders raising interest rates 0.25 per cent according to Canstar.
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Queensland property market defying the downturn
he Queensland property market is still experiencing 'healthy growth' and is continuing to defy the downturn seen elsewhere, according to the Real Estate Institute of Queensland (REIQ).
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Annual auction volumes declined in May
After a record volume of auctions were held in the first four months of the year, last month saw an annual decline in listings for the first time since February 2021.
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Perth prices rise as the market outperforms Sydney and Melbourne
Home prices across Perth have continued their rise, increasing 0.6 per cent in May according to new data from CoreLogic.
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Barellan Point is Australia’s top family housing market
Barellan Point in regional Queensland has been named the top housing market for families according to new research.
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ANZ revises cash rate prediction on back of strong wages
The ANZ bank has tipped the Reserve Bank of Australia (RBA) will lift the cash rate by 40 basis points at tomorrow’s board meeting on the back of broadening inflation pressures.
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Dubbo Council looking to undertake 3D house printing trial
The Dubbo Regional Council is moving forward with a proposed trial of 3D printed houses to potentially help ease the lack of supply of homes in the region.
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Cash poor Australian households look to downsize
After two years where Australians were scrambling for larger homes, a new survey has found one in eight are now looking to downsize as higher living costs start to bite.
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Unprecedented demand for industrial property pushing up prices
Record demand for industrial space has continued to put upward pressure on rents and property values with the trend expected to continue.
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Widespread fall in New Zealand property prices continues
The downwards momentum in New Zealand residential real estate values continued throughout May with prices falling 0.8 per cent.
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Home prices fell in May as interest rates rose
Home prices across the country fell for the first time since the start of the pandemic just as homeowners saw the first RBA rate rise in over a decade.
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