INDUSTRY NEWS
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Rents to skyrocket by thousands in 59 Australian suburbs
The cost of renting could jump $5000 in 59 suburbs across the country this year, as Australia sits on the cusp of the worst rental crisis in 230 years, according to Propertyology's Simon Pressley.
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How to maximise your buyers’ offers and keep them all onside
Every Agent knows that technology holds the key to help them become both effective and efficient.
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Auction volumes up 35 per cent, clearance rate also climbing
Auction volumes and the clearance rate continued to climb this week, with the number of auctions increasing 35.2 per cent while enjoying the highest success rate since late November last year.
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Proposed NSW property tax changes labelled ‘nonsensical’
The Real Estate Institute of NSW has labelled the State Government’s proposed changes to stamp duty "nonsensical".
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NAB tips property price drop in 2023
One of Australia’s big four banks expects property price growth to slow dramatically before falling 10 per cent in 2023.
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Biggest January surge in new listings since 2014
Homeowners keen to sell have wasted no time putting their property on the market, with a 55.6 jump in capital city listings since December.
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Real Estate Institute of WA appoints new CEO
The Real Estate Institute of Western Australia has announced the appointment of Cath Hart as its new Chief Executive Officer.
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Aussie house hunters view property listings at a record rate
Homebuyers are out in force to start 2022, with new data showing views on property listings surged 48.2 per cent in January, setting a new record.
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ANZ increases fixed rate home loans up to 0.4 per cent
ANZ has joined it’s big four counterparts in raising fixed rates this year, announcing a hike of up to 0.4 per cent for owner-occupiers and investors.
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Top 10 Perth suburbs tipped for price growth in 2022
Ten Perth suburbs that recorded well below 10 per cent price growth last year have been singled out as the areas primed for capital growth in 2022.
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Cost to build a home in New Zealand hits the hip pocket
The cost of building a house in New Zealand has jumped 6.1 per cent in the past year and could rise by 10 per cent or more in 2022, according to experts.
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Melbourne land prices climb past $350,000 for first time
An average block of land in Melbourne will now set you back $355,000, with prices soaring to a record high at the end of 2021.
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Double-digit increase for SA house prices
The strength of South Australia’s property market has been revealed, with data from the Valuer-General indicating median house prices in the state increased 16.78 per cent in the 12 months to December 2021.
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Top markets to watch for price growth in 2022
Price growth is set to accelerate in the family-friendly Melbourne suburb of Hallam and the Western Australia holiday hotspot of Broome, according to new analysis.
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Affordable, inner-city suburbs on top of buyers’ wish list
Buyers are ditching apartments and regional areas in favour of more affordable suburbs and inner-city markets, new data from NAB reveals.
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REA Group reveals outstanding half-year performance
REA Group has released its half-year financial results with the data reflecting a surge in listings along with record visitor numbers that saw the realestate.com.au emerge as Australia’s seventh largest online brand.
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Smaller capitals lead the auction volume increase
Auction volumes have continued to increase this week, with the smaller capitals leading the charge.
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Dwelling approvals rise as timber shortages ease
Dwelling approvals jumped 8.2 per cent in December according to new data, with imported timber helping to ease supply chain issues and delays building a record number of approved homes.
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Perth woman buys virtual penthouse in the metaverse
A Perth woman recently dropped a bit more than $1000 on a virtual penthouse in a metaverse that hasn’t even launched yet. Retired school teacher, Christie, told ABC News she bought the piece of virtual real estate in the Uphoria metaverse, which, according to a promotional video on YouTube, features towering skyscrapers, restaurants, fountains, sports centres, hotels and even a…
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REIA calls for homebuyer help and the creation of property jobs
The Real Estate Institute of Australia (REIA) President Hayden Groves
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CBA lifts fixed home loans 0.2 per cent
The Commonwealth Bank has increased interest rates on its fixed home loans by as much as 0.20 per cent.
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Agent sells 236 properties in one year via Market Buy
A top-performing Queensland agent has set a personal record, selling 236 properties in the past 12 months, all via the Market Buy online offer management platform.
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Greens call for mandatory air conditioning in Victorian rental properties
Leader of The Victorian Greens, Samantha Ratnam has called on the State Government to amend the minimum standards for rental properties to include air conditioning.
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New listings still won’t meet demand in NSW
A flood of new listings set to come to market this month will not be enough to make a tangible impact on undersupply in New South Wales.
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More than 1 million households have never had an RBA rate rise
After more than a decade of easy monetary policy from the RBA, new data shows that over 1.1 million households in Australia have never experienced an interest rate rise.
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Perth home values skyrocket as rental pressure eases
Perth property prices have skyrocketed in January, as rental market pressure eases
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Sydney city and coastal living now ‘overpriced’ in NSW
NSW coastal hotspots such as the celebrity playground of Byron Bay have been listed as overpriced, while regional towns such as Albury-Wodonga and Wagga continue to offer good value, according to new research. Analysis from InvestorKit Founder, Arjun Paliwal, found NSW’s most populated coastal towns, including Newcastle, Wollongong, Shoalhaven, Port Macquarie and Byron Bay, to be the most unaffordable locations…
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Inflation came sooner than expected, but RBA keeps rates on hold
Inflation has picked up faster than the Reserve Bank of Australia expected, but the board still elected to keep interest rates on hold at a historic low of 0.1 per cent today. At the bank’s first meeting of the year, the board did elect to stop further bond buying, with its final purchases to be made on 10 February. In…
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Homebuyers could see borrowing power slashed by $169,000
A typical couple could lose as much as $169,000 in borrowing capacity if the RBA hikes interest rates to 1.75 per cent according to new research.
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Property values start 2022 on the up
The typical Australian home is now worth $131,236 more than it was a year ago with values climbing in January, albeit at a much slower rate than the astronomical surge witnessed in 2021.
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Openn data highlights a market with sustained buyer competition
Online property sales platform Openn has taken a deep dive into their data for the final months of 2021, noting although buyer demand eased slightly in the December quarter there was still sustained competition.
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The real estate industry to focus on people and sustainability in 2022
After a year that saw both record house price growth and tough conditions, the industry needs to continue to focus on people and sustainability
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More than half of economists predict a rate rise in 2022
A new survey has found that interest rates could be on the rise with 58 per cent of economists expecting the RBA to hike rates in 2022.
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Auction volumes and clearance rate on the rise
Auction volumes increased 166.1 per cent this week, with CoreLogic reporting 1160 properties were taken to auction in the combined capitals, resulting in a preliminary clearance rate of 74.1 per cent.
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New research reveals Australia’s cheapest rental market
Adelaide is the cheapest rental market in the country where renters will need to pay just $447 per week.
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