INDUSTRY NEWS
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Clearance rate improves across higher volumes
With one-on-one inspections now permitted in Melbourne, auction volumes have increased slightly this week while the combined capital preliminary clearance rate also edged higher to 74.6 per cent.
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More retirees have large mortgages but fewer are downsizing
Fewer retirees are looking to downsize this spring selling season, according to the REIA, with listings down 20-40 per cent
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Australia’s population growth rate is the slowest in more than 100 years
Australia's population only marginally grew in 2020, primarily due to the impact of international border closures on overseas migration.
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Home inspection rules ease as Victoria hits 70 per cent vaccination milestone
Locked-down areas in metropolitan Melbourne and Ballarat will be able to resume real estate inspections by appointment from 11:59PM Friday 17 September.
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House prices have soared by almost 20 per cent
House prices have inflated by a whopping 18.4 per cent over the year to June, according to the Real Estate Institute of Australia (REIA).
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Sydney sees newfound confidence as new listing rates improve
The NSW Government's pathway out of lockdown has instilled newfound confidence in Sydney residents, according to REA Group's newly released PropTrack Listings Report September 2021.
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Domain set to acquire Insight Data Solutions
Domain has announced it has entered into a binding agreement to acquire Insight Data Solutions (IDS) by October this year, marking another step forward in executing its marketplace strategy.
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New Rexlabs technology takes the hassle out of database targeting
Since COVID-19 hit Australian shores, securing listings has become increasingly tough for real estate agents. It’s more important than ever to stand out from the crowd
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Australia’s residential price growth rate is the seventh highest in the world
Australia and New Zealand were both in the top 10 countries to see the highest rate of annual price growth, according to Knight Frank Research.
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What $1 million will buy you around the world in 2021
While Australia's house prices continue to rise, Ray White Chief Economist Nerida Conisbee has considered whether you could find better value in one of your favourite holiday destinations.
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The Reserve Bank rejects suggestions cash rates will lift sooner than expected
Governor Philip Lowe has shut down suggestions the Reserve Bank of Australia (RBA) will lift the cash rate to cool the property market.
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Herron Todd White: Property clock has run out of batteries with no movement in any market
With the property market remaining the same as July, Herron Todd White’s property clock indicates nearly all Australian residential property sectors are either rising or approaching the peak. Herron Todd White‘s (HTW) August residential property clock remained identical to last month, with no positional changes in houses or units. The commercial property clock saw some changes. Residential property clock The…
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Sydney vacancy rates plummet to the lowest level in more than three years
Vacancy rates in Sydney have dropped down to 2.6 per cent, hitting the lowest level since 2018.
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Western Australians are encouraged to ‘look West’ in new REIWA media campaign
A new advertising campaign encourages Western Australians to 'look West' on reiwa.com.au for their property needs.
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Major changes to franchise laws will significantly impact the real estate industry
Important changes to Australian franchise laws, introduced in July, will impact both franchisors and franchisees, regardless of expansion plans.
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Housing affordability continues to rapidly decline in New Zealand
Record house price growth across NZ has led to rapidly declining affordability with little sign of easing, despite rising mortgage rates.
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Could Vic lockdowns create the risk of an unregulated environment?
Ray White Victoria’s chief executive officer has expressed concern the current lockdown restrictions affecting real estate in Melbourne could result in an unregulated environment where desperate buyers take matters into their own hands.
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Auction volume and clearance rate enjoy slight increase
There has been a slight increase in auction volume this week as the preliminary clearance rate also took an upward turn.
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How first home buyers can get the upper hand as investors return to the market
As investors re-enter the market, one expert believes there could be a silver-lining for first home buyers.
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Differences between inner, middle or outer rings in Australia’s high performing cities
PRD has provided insights into the best areas to invest, buy and rent in major Australian capital cities, such as Brisbane, Sydney, Melbourne and Perth.
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Richard Matthews Real Estate donates $20,000 to Beyond Blue
Smashing their original fundraiser goal of $10,000, Richard Matthews Real Estate have raised $20,000 in donations for Beyond Blue since June.
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REIWA says State Budget misses opportunity for bold stamp duty reform
REIWA has voiced its disappointment that the WA Budget lacks bold housing reform, despite the state boasting a record budget surplus of $5.6B
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Australia’s property market defies logic
Real estate experts believe traditional property valuation metrics and sales performance don't provide an accurate prediction of property sales prices in many parts of Australia.
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Property seekers remain undeterred as buyer demand reaches an all time high
Buyer demand and email enquiries from property seekers have reached an all-time high despite lockdown restrictions in some states.
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The impact of discrimination in the private rental sector
Discrimination towards tenants in the private real estate sector has been highlighted by new AHURI research, but an expert believes these issues can be repaired through more education.
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Rental affordability improves across Australia
Rental affordability improved marginally across Australia by 0.3 percentage points over the June quarter, according to REIA.
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Cash rate steady as housing remains ‘one of the few positive indicators’
CoreLogic Research Director Tim Lawless shared his reaction to the Reserve Bank of Australia maintaining their cash rate hold at 0.1 per cent.
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‘Locked down and locked out’: REIV campaigns to open real estate safely
The Real Estate Institute of Victoria (REIV) has mounted a campaign against property market restrictions on behalf of the tens of thousands of sector employees and impacted Victorians.
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Reserve Bank of Australia maintains historic cash rate hold of 0.1 per cent
The RBA announced the national interest rate will remain on hold at the historic low of 0.1 per cent.
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RBA’s cash rate hold of 0.1 per cent will motivate Australians to look into refinancing
Mortgage Choice and Smartline CEO Susan Mitchell said the Reserve Bank of Australia's (RBA) decision to keep the nation's official cash rate on hold at 0.1 per cent will continue the increasing trend of refinancing.
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Sydney homebuyers might have to find another $76,600 in the next 12 months
Experts in Finder's RBA Cash Rate Survey have estimated property prices are set to rise an additional 8 per cent by July 2022.
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Vast majority of experts say vaccine passports are an economic necessity
Vaccine passports will be an essential tool for economic recovery, according to experts in a new poll from Finder.
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Propy completes the first auction of a property as a non-fungible token
US real estate platform Propy has completed the first auction of a property as a non-fungible token in a move that demonstrates how blockchain could change real estate in the future. Held in late June, the 24-hour auction involved a token for an apartment in the Ukraine which attracted 43 bids and sold for 36 ETH (or around US$93,000), with…
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Lower volumes lift the auction clearance rate
Auction volumes have dropped this week, but the clearance rate has risen, with 1535 properties taken to auction nationally, res
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Melbourne’s student housing reduced to “skeleton skyscrapers” amid international border closures
Border closures that stopped thousands of international students studying at Australian universities, has reportedly caused entire buildings to remain vacant, impacted on small businesses, and left self-funded retirees worried about how they will pay their mortgages.
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