INDUSTRY NEWS
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How your social media account could get you sued
There’s no escaping the fact that social media has taken over the world. But as O*NO legal explains you need to take steps to ensure that asset isn't a liability.
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How AI is helping agents win listings
Real estate agents are taking up technology at ever increasing rates, recognising the role artificial intelligence and machine learning can play in super-powering their listing ability. In today’s world, technology works in tandem with data. When you have information on house values, auctions, open homes, buyers and sellers, and much more, there’s a lot of facts, stats and information to…
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RBA expresses concerns over excessive borrowing
The Reserve Bank of Australia (RBA) has outlined its concerns about the risk of excessive borrowing, noting if house prices declined or interest rates increased in the longer term, everyday Australians could be in for a rough ride.
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The top suburbs where there’s still room for price growth
It’s no secret the property market has been running hot in 2021, but according to buyer’s agency network, BuyersBuyers there are still opportunities for growth in the country’s top three markets.
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Over 80 per cent of auctions successful in all capitals
Every capital has reported a preliminary clearance rate of above 80 per cent this week as auction volumes rise across the country.
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Victorian Government launches $500 million fund to help residents buy a home
The Victorian Government has launched a $500 million shared equity fund to help Victorians buy their own home.
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High Court dismisses appeal over real estate restraint of trade
A legal case that serves as a warning for both real estate business owners and employees has come to a conclusion, with the High Court dismissing an agent’s final appeal over restraint of trade and confidential company information.
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Value of Australian housing market surpasses $9.1 trillion
The value of the Australian housing market has increased more than $1 trillion in the past five months, hitting a new record of more than $9.1 trillion in September.
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Auctions and open homes can be held across NSW
Freedom Day arrived in NSW yesterday with some good news from the State Government in that on-site auctions and open homes can take place statewide. Minister for Better Regulation and Innovation Kevin Andrews said there was currently no restrictions on where a live auction or open home could be held. “The Public Health order notes that from 11 October there…
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Office occupancy rates call for CBD recovery
As lockdowns on the East Coast begin to wind back, there have been calls for workers and businesses to return to the hard-hit CBD.
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National rental vacancy rate clocks up its fifth month at just 1.7 per cent
The national vacancy rate remains low, clocking up its fifth consecutive month at just 1.7 per cent, according to new data released by Domain.
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The top Sydney and Melbourne suburbs with potential for unit oversupply
Schofields, Gosford and Rouse Hill are among the top Sydney and NSW suburbs most at risk of unit oversupply and potentially poor metrics for landlords, new research has revealed.
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Home stretch: 1 in 3 Aussies would move if they could work from anywhere
As millions of Australian workers stretch into their fourth month of working-from-home, many have relocation on their minds, according to new research by Finder. A nationally representative survey of 678 Australian workers revealed that 33 per cent – or 4.3 million adults – would move homes if their employer announced that workers no longer needed to be onsite. Sarah Megginson, home…
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APRA steps in to curb mortgage debt with increased interest rate buffer
The Australian Prudential Regulatory Authority (APRA) has stepped in to curb household mortgage debt, announcing stricter lending conditions.
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Industry leaders analyse what RBA decision means for real estate market
The Reserve Bank of Australia (RBA) has maintained its record low cash rate at 0.1 per cent, with real estate industry leaders predicting Australia’s hot housing market will start to even out a little in the coming months.
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Sherrie Storor’s coaching clients finished EOFY having the best sales year ever
The last 12 months saw LJ Hooker Ormeau Principal, Nicole Hintz, smash her business goal of tripling her revenue and writing $1.6 million gross commission income.
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Busiest auction week since mid-July as Melbourne records its second highest clearance rate this year
CoreLogic has reported this was the busiest auction week since mid-July, with the preliminary clearance rate also on the rise and Melbourne returning its second highest initial success rate of the year.
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Authorised workers required to be vaccinated in Victoria
All "authorised workers" across Victoria will be required to have at least one dose of the COVID-19 vaccine by Friday 15 October in order to continue working.
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REIA claims the Government bolsters its coffers at housing affordability’s expense
Real Estate Institute of Australia (REIA) President Adrian Kelly believes stamp duty has become the antiquated blight of the Australian housing sector, based on new findings.
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Perth house prices rose 18 per cent in the last 12 months
oreLogic has announced a revision of its Perth home value index, confirming the Western Australian capital has seen an increase of 18.1 per cent above in the past 12 months.
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Sydney sellers cash in with 97.6 per cent of housing resales selling for a profit in June
In Sydney over the June quarter, 97.6 per cent of houses sold for a nominal gain, the highest level since 1982, says CoreLogic
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Real estate industry leaders weigh in on stamp duty reform
Industry leaders have provided official submissions on behalf of the real estate sector, discussing stamp duty changes and housing affordability.
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School zones create a house price premium
New Domain research has found many school catchment zones continued to add a significant premium onto already spiking property prices across Australia.
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Real estate is one of the top digital search trends in Australia
Real estate has become one of the most widely searched topics across Australia, according to newly released Nielsen data.
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18 – 29 year olds account for more than one-third of all first home buyers
Millennials and Generation-Z hold a significant proportion of the first home buyer market, despite rising property prices.
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Highest auction clearance rate since March
A sharp drop in the number of withdrawn auctions in Melbourne and Canberra has resulted in the highest auction clearance rate since March this year.
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Recent homebuyers are more likely to rent out part of their property for additional income
New US-based research has found recent homeowners have been finding increasingly creative ways to generate income and offset expenses.
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Propic appoints David Choi as Chief Commercial Officer
Property intelligence start-up Propic has appointed David Choi as their new Chief Commercial Officer and Strategist with an immediate start.
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Why local businesses should communicate with customers via text messages
There are an estimated 3.8 billion smartphone users in the world, with 80 per cent of Australians using a smartphone in 2021.
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New and total listings drop across Australia as national rental supply nears all-time low
The Australian rental market has become increasingly competitive as available rental supply continues to sharply decline over 2021.
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The AREAs are back with a new feel-good award category
The Annual REA Excellence Awards (AREAs) are back to celebrate the success of the real estate industry, with a new wellbeing award added to the list of honours in 2021. Partnering with health experts at Benny Button for the Wellbeing Initiative of the Year Award, REA Group said it is designed to recognise companies and individuals who have introduced wellbeing…
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Perth’s most affordable house prices compared to Melbourne and Sydney
Perth is known to be one of the most affordable cities in Australia to buy a house, but nothing makes this more evident than looking at the equivalent suburbs in pricier Sydney and Melbourne.
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How millennials’ digital habits and home ownership trends have impacted the Australian property market
Millennials are a digitally savvy generation, going online to shop, socialise and work. So it is little surprise they would seek out digital alternatives in real estate, too.
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Real estate industry leaders react to Victoria’s roadmap out of lockdown
Melbourne's real estate industry is set to see a lockdown-related milestone on October 26, as on-site outdoor auctions will be able to resume with up to 50 fully vaccinated attendees and one-on-one inspections resuming.
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Victoria’s roadmap: On-site auctions back in Melbourne from October 26
The auctioneer's hammer is expected to fall out the front of Melbourne properties again in late October, after the Victorian Government outlined the state’s roadmap out of lockdown on Sunday.
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