INDUSTRY NEWS
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Perth property prices hit a record high
Property prices across Perth have finally reached a new record high of $552,128, according to the latest data from CoreLogic.
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Demand for property falls in April
Demand for property eased in April with views-per-listings and sales both lower according to new data.
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First home buyer activity falls away in New Zealand
New Zealand's first home buyer activity has continued to decline as higher mortgage costs have started to have an impact according to a new report.
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The Australian suburbs that are primed for price growth
Campbells Creek in regional Victoria could be ripe for property price growth, as one of a number of locations that are set to buck the trend of a cooling market.
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Rate hikes to impact borrow capacity
Rising interest rates could see average home buyers’ borrowing capacity fall by more than $150,000, according to new research.
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How the rate rise affected this week’s auctions
After the first rate rise in over a decade, auction volumes were down this week, with 2039 properties going under the hammer, resulting in a preliminary clearance rate of 64.7 per cent.
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Homely announces strategic partnership with National Property Group
Homely.com.au continues to redefine the way people buy, sell, rent and list property, with the integration of comprehensive property data for agents and consumers.
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Victorian Budget missed an opportunity on property tax reform
The Victorian Government has missed an opportunity to tackled property tax reform, according to a leading industry body.
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Homeowners should expect more rate rises
Homeowners should be prepared for a series of rate hikes with experts tipping the official cash rate could rise to 2.6 per cent.
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Robust Queensland market to shake off rate rise
The Queensland property market is well positioned to handle this week's cash rate increase from the RBA according to the Real Estate Institute of Queensland (REIQ).
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NZ property market prices softened in April
The New Zealand property market has recorded a modest fall in April, the first decline since the initial COVID-enforced lockdown in August 2020.
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Perth prices continue to increase in April
The Perth property market has continued to see an uptick in prices since reopening its borders in February.
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Cash rate rises for first time in over a decade
After 17 months of record low interest rates, the Reserve Bank of Australia has today lifted the cash rate 25 basis points to 0.35 per cent while clearly indicating more rate rises are to come.
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Richard Simpson elected new REIV president
The Board of the Real Estate Institute of Victoria (REIV) has elected respected real estate agent Richard Simpson as its president, through to October 2022.
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Vacancy rates remain at record low levels
The national vacancy rate remains at a record low 1 per cent with all capital cities continuing to operate in a “landlords’ market” according to a new report.
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WA the most affordable for first home buyers
Perth has been named the most affordable capital city for first home buyers, with regional Western Australia taking the title of most affordable area in the country, according to a new report.
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Labor looks to cut the cost of a mortgage by up to $380K
The Labor Party has announced its intentions to introduce a new shared-equity housing scheme that could help shave up to $380,000 off the cost of a home.
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Rising CPI suggests more affordability worries ahead
The highest inflation in 30 years suggests housing affordability is going to continue to decline, according to an industry body.
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Home prices stalled in April as rate hikes loom
Property prices stalled nationally last month with values seeing their smallest increase since May 2020 and the onset of the pandemic, according to new data.
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Economists predict rate rises are coming before August
Economists believe the RBA is getting set to hike the official cash rate (OCR) with 84 per cent believing a rise is coming before August.
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Propic acquires Property Realm to create intelligent AI platform to ease stress levels
Australian real estate PropTech innovator, Propic has acquired Property Realm in a move it says will “unapologetically disrupt” the real estate industry.
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Queensland vacancy rates hit record low levels
Vacancy rates across Queensland have dropped dramatically with several areas recording rates under 0.1 per cent.
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Auction clearance rate slips further
The preliminary clearance rate has slipped further this week on the back of increased auction volumes across the combined capitals.
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Record inflation to keep pressure on households
The latest CPI figures shows inflation has risen to 5.1 per cent, putting increased pressure on mortgage holders and households according to experts.
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Three of the big four banks predict a May rate hike
The big four banks continue to bring forward their cash rate rise predictions, with three of the majors now forecasting the official cash rate (OCR) will increase next week, with more hikes “imminent”.
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The AI tech that powers agents across the nation
Artificial intelligence has been the buzzword for a decade and whilst other industries are advanced in its applications, the real estate industry is no longer a laggard as more and more agencies leverage this technology.
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Property boom losing momentum – Sydney price growth ‘flatlining’
The rate of property price growth in Australia has dropped dramatically in the first three months of the year, new data reveals.
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Slowdown arrives for New Zealand’s hot property market
New Zealand’s overheated property market looks to be slowing down thanks to rising interest rates and lower demand according to a new report.
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Propic appoints head of innovation amid record growth
PropTech Artificial Intelligence pioneer Propic has appointed former McGrath Head of Martech Ryan Campbell as Head of Innovation, as it records significant Australian market growth and seeks to push into international markets.
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Victoria most affordable for average income earners
Victoria dominates the list of most affordable properties for buyers on average salaries, according to new research.
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Inside Australia’s home of the year
JW Constructions in Queensland has won the HIA-CSR Australian Home of the Year award for a beautifully designed home that showcases open-plan living at its best.
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Geelong leads pandemic population surge
Geelong saw the largest population increase during the pandemic as homebuyers sought out more space and an escape from the city.
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Sentiment remains high despite softening property prices
Confidence in the real estate market remains high despite slowing growth in property prices, according to a new survey.
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The lowest preliminary clearance rate of the year
Despite the ANZAC Day long weekend, 1813 homes were taken to auction across the combined capital cities this week, resulting in a preliminary clearance rate of 67.6 per cent.
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Rental demand continues to soar as availability falls to lowest level in more than a decade
Near record demand and the lowest level of availability in almost 20 years is propelling a tough rental market, new analysis shows.
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