INDUSTRY NEWS
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House prices grow at third fastest rate in Australia’s history
PropTrack analysis of house price growth in Australia from 1880 to now has found that house prices are growing at the third fastest rate in Australia’s history on the back of strong property market conditions.
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The Australian city second in the world for prime price growth
Sydney’s prime prices are expected to rise by 9 per cent next year, according to new data, making it the second highest city for prime price growth in 2022.Â
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Why airspace could be the big real estate trend of the decade
Where would Australia’s major capitals house an influx of new residents? According to strata property development specialist Warren Livesey, the answer could be airspace.
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Brisbane named best city to work from home
Brisbane has been named as the best city in the world to work from home with its average temperature of 22 degrees considered ideal for productivity. The Queensland capital also scored highly for its cost of living and its strong healthcare system in the WORKATION Index. Prepared by digital learning platform Preply, the Index examined the 74 most populated cities…
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ANZ forecasts house price fall in 2023
House prices look likely to peak in December at their strongest growth rate since the 1980s, before dramatically slowing down in 2022 and falling in 2023, a new forecast shows. The ANZ Australia’s Housing Rolling Over report shows price growth is set to peak at just above 21 per cent in December 2021 before starting to wind back. “This would…
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PropTrack data shows just how hot the market is right now
REA's PropTrack has released its market outlook for November, noting listing volumes increased across the country throughout October while property prices also continued to rise.
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More than half of first home buyers are going solo
First home buyers in New South Wales are seeking a home not an investment, with more than half going it alone, according to new data. The latest InfoTrack Property Market Update revealed in the year to October’s end, 84 per cent of NSW first home buyers purchased either a house (47 per cent) or a strata property (37 per cent)…
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Open borders to spark Melbourne suburban boom
Demand for homes in Melbourne’s inner suburban rim is set to skyrocket when international borders open, according to property expert, Mark Dawson. The Urbis Director, who featured in the Dye & Durham Future Property & Development Insights Virtual Roadshow Series, said while a sea or tree change had been the focus of many buyers in the past 12 months, a…
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How competitions could land your business in hot water
Competitions are a sure-fire winner when it comes to attracting customers, building brand awareness, and increasing traffic - especially during the holiday season.
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Fifth busiest auction week on record
The combined capital cities have enjoyed their busiest auction week since late March and the fifth busiest since CoreLogic records commenced in 2008, with 3725 properties going under the hammer.
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NZ vendors achieve record profits
More than 99 per cent of New Zealand vendors sold their property for more than the original purchase price in the three months to September, according to new data.
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Home building boom to continue in 2022
Australia’s home building boom is set to continue throughout 2022 despite the cost of labour and materials rising and pushing the cost of a new home higher.
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Increasing property prices see stamp duty skyrocket
Property prices have soared throughout the pandemic, as more Australians seek to achieve work/life balance, relocating to lifestyle locations in droves.
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Online auctions here to stay, as volumes surge this weekend
Australian capital cities are set to have their busiest auction week since late March, and their fourth busiest week since CoreLogic records commenced in 2008. This week 3810 homes are expected to go under the hammer – double the volumes recorded this time last year. Continuing the upward trend seen since early October, Sydney is set to host 1439 auctions…
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Market Buy appoints John Hellaby as new CEO
The online offer pioneer, Market Buy, has announced the appointment of John Hellaby as its new Chief Executive Officer.
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Metro Adelaide sets new record for median price
Metropolitan Adelaide has recorded a record-breaking median price increase of 13.82 per cent year-on-year, up 3.7 per cent from the previous quarter, according to new data. The new median price for the region has climbed to $560,000, which is also a record, the data revealed. The Real Estate Institute of South Australia’s Valuer-General’s price data for the 2021 September quarter…
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Return of international students welcome news for investors
The impending return of international students will be welcome news to Sydney investors, particularly those with apartments near the city’s universities. With most Sydney residents now vaccinated against COVID-19, the NSW Government has announced hundreds of international students will be permitted to return from as early as December, with tens of thousands to follow in 2022. Century 21 Eastern Beaches…
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Cash or crypto: vendors accepting Bitcoin ‘a natural progression’
A unique sprawling property, including a beach-house, studio and its very own island, has been listed for sale, with buyers offered the choice of cash or cryptocurrency when it comes to making payment.
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Gold Coast property market pressure ‘some of the highest in the country’
Gold Coast property prices have surged since the start of the pandemic, following a decade of steady growth. Property market pressure in the region is now some of the highest in the country, according to a new Market Pressure Review Report. The data, released by InvestorKit, showed Broadbeach – Burleigh experienced the most significant growth, with property prices increasing 38.2…
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APRA tells standing committee its role is not to target house prices
The Australian Prudential Regulatory Authority (APRA) has appeared before the Standing Committee on Tax and Revenue, outlining its role in the financial regulatory system.
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Final countdown before AREAs submissions close
REA Group customers have until midnight Wednesday 17 November to finalise submissions for the Annual REA Excellence Awards (AREAs).
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Rising interest rates won’t burst the property market
Interest rates don’t create property booms or busts, according to new research by the Property Investment Professionals of Australia.
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What agents need to tell potential buyers about house flipping
A real estate agent’s reputation is their lifeblood, so it’s critical they give the right advice when it comes to flipping houses.
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Vacancy rates fall across most of NSW, except Inner-City Sydney
Vacancy rates across Sydney and much of New South Wales have dropped this month, while the Inner Ring bucked the trend, experiencing its highest vacancy rate rise since June.
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Auction volumes up 79.4 per cent since early October
High auction volumes continued this week, rising 8.2 per cent on the week prior to see 3562 properties go under the hammer. CoreLogic tips this weekly increase in volumes is likely to continue now lockdown restrictions have eased in Sydney, Melbourne and Canberra, with auction volumes increasing by 79.4 per cent since the first week of October. “With each week…
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Changes to money laundering laws must consider home buyers, tenants and small business, says REIA
The Real Estate Institute of Australia (REIA) has urged the Inquiry into Australia's anti-money laundering and counter-terrorism financing regime to consider genuine home buyers, tenants and real estate agencies when making its recommendations.
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Average NZ home value tops $1 million
Lockdowns have done little to dampen buyer demand in New Zealand where house values have reached a new high.
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HomeBuilder legacy lives on in record number of houses being built
The legacy of the HomeBuilder initiative lives on, with a record number of houses commencing construction in the recent June quarter.
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New listings across the capitals reach highest number on record
New listings across Australia’s capital cities reached a record high in October, with sellers flocking to the market due to eased restrictions.
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Australians put property buying plans on hold
Australians are putting their property buying plans on hold as the year comes to a close, according to newly released data.
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Rise in listings and auction volumes as Spring comes to an end
Domain’s latest weekly property report has revealed a rise in listing and auction volumes as spring draws to a close.
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Properties selling at warp speed
Australian properties are selling at their fastest rate in five years with weekly sales volumes also reaching their highest level this year, fresh data reveals. The REA Group’s latest PropTrack Housing Market Indicators Report showed that in October buyers snapped properties up quickly, with the median amount of time a property was listed on realestate.com.au before selling dropping to just…
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NZ First Home Buyers hit record market share
Despite tough market conditions and rapidly rising house prices, first home buyers in New Zealand have hit record high market share.
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Survey analyses real estate professionals mental health in tough year
A leading mindset coach conducting research for a whitepaper analysing the mental health and wellness of real estate professionals is searching for more respondents. Jet Xavier says the Revive survey takes just a couple of minutes to fill in and the results are used to help inform projects such as the Rise Initiative and the Real Care App, as well…
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Are we in a housing bubble? Nerida Conisbee offers her thoughts
Ray White Chief Economist Nerida Conisbee offers her perspective on whether or not the current high prices represent a housing bubble
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