INDUSTRY NEWS
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The Perth suburbs where it’s cheaper to buy than rent
It cheaper to buy a home than rent in 112 Perth suburbs, according to the REIWA.
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REIA welcomes the housing affordability and supply inquiry
The Real Estate Institute of Australia (REIA) has welcomed the House of Representatives Standing Committee on Tax and Revenue inquiry into housing affordability and supply in Australia.
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Housing affordability and supply in the spotlight
Housing affordability is set to be the focus after an inquiry into Australia’s housing supply was announced late today.
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Strong interest for commercial investment properties in NSW despite lockdowns
Strong demand for investment properties in New South Wales has been maintained despite lockdowns, according to Knight Frank.
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First home buyers in NZ will suffer from the Reserve Bank’s surprise decision on mortgage deposits
RBNZ's decision to reduce the number of owner-occupiers that can get a mortgage with less than a 20 per cent deposit is set to have huge impacts on first home buyers
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Auction clearance rate lower as markets navigate lockdowns
The volume of properties taken to auction was slightly higher this week, but the clearance rate dropped marginally as the most popular markets navigated lockdown.
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Interstate buyers aren’t slowing down in South Australia
New REISA data has shown continued net interstate immigration gains throughout regional and metro South Australia
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How the property market has evolved amid the pandemic
Australia’s property market exceeded all expectations in 2020 and the first half of 2021, as a the suggestion of potential market crash was swiftly switched out to reports of a nationwide market boom. PRD has released its Australia Economic and Property Report for 2021, which analyses how the property market has evolved over the past year due to multiple factors,…
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Ray White leaders reveal the biggest issues facing the NSW property market
Ray White leaders unpacked the biggest issues facing the NSW property market in a webinar on Thursday night.
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Premier Gladys Berejiklian confirms the ban on small business evictions will be extended
NSW Premier Gladys Berejiklian is set to announce a new rent relief package assist small businesses.
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More Australian homes selling than coming on the market
Dwelling sales continue to surge across Australia against low listings levels, according to new CoreLogic data. In the three months to July, CoreLogic estimated there were around 171,100 dwelling sales in Australia. This is 53.4 per cent higher than what has typically been seen this time of year for the previous five years. In the same period, there were just…
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Sydney residential vacancy rate rollercoaster takes another turn
REINSW noted residential rental vacancies in Sydney dropped in July for the third consecutive month.
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Australians are using lockdown to hunt for property online
Search activity on realestate.com.au jumped 2.4 per cent last week as lockdowns were felt across the country.
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Stamp duty reform could be key to relieving housing affordability pressures
The Real Estate Institute of Western Australia (REIWA) has urged the State Government to commit to stamp duty reform in its 2021-22 Budget, given the state’s strong financial position. REIWA claimed stamp duty has remained the biggest financial hurdle for Western Australians looking to buy property. REIWA President Damian Collins said while stamp duty was an important revenue earner for…
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Number of single women buying first home tipped to rise
REIA forecasted a rise in single women purchasing their first homes.
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How the COVID-19 pandemic will change the Australian housing landscape long-term
A drop in investor appetite for high-rise apartments and a push towards lifestyle-centric housing are just some of the trends the COVID-19 pandemic has accelerated, according to property experts. Many of these trends were already underway in the Australian economy, but the spread of COVID-19 created an economic bubble for many industries, which will likely hold strong for years to…
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Perth’s current property growth rate is almost twice as high as the previous cycle
Perth's market recovery is tracking at an average growth rate of 0.9 per cent per month, according to REIWA
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Rental market confidence is up but agents are concerned about rent roll and profitability margins
Australian property managers were surveyed to determine the true mood of the national rental market with the response overwhelmingly stating that while the market might be doing well, businesses are concerned by rent roll growth and profitability.
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Industry leaders are urging real estate agents to get vaccinated
Many industry leaders have supported the push by governments around Australia to improve vaccination rates by encouraging members of the real estate industry to get vaccinated. Raine & Horne chairman Angus Raine is one of many real estate industry leaders to speak out about the potential vaccination mandate. “As an industry, we need to support the government’s messages about the…
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Dwelling values and sale volumes continue to rise across Australia but rental yield declines, says CoreLogic
CoreLogic has released their August insights, summarising Australian housing market data to the end of July 2021. They found the Australian housing market has continued to maintain the highest dwelling values since 2004, but quarterly values have started to gently decline, when compared to May 2021. Sales volumes also rose across Australia, both in regional and metro markets. Rental values…
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REIA has urged the Australian Government to rethink their approach to sustainability in real estate
The Real Estate Institute of Australia (REIA) has called on the government to empower Australian consumers to adopt more 'sustainable and healthy' housing practices.
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Openn Negotiation announces their Excellence Awards winners
Australian real estate tech platform Openn Negotiation has virtually held their fourth annual awards night, announcing their 2021 Excellence Award winners. The night celebrated the agents and agencies achieving outstanding success using the digital sales platform, which recently listed on the ASX. Queensland agent Brad Scott, Principal of Smart Real Estate, was a stand-out winner this year. He received multiple…
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What social media really thinks of The Block 2021
Renovation competition show The Block returned to Channel Nine for its 17th season on Sunday night, with competitors vying to create luxury living in a suburban cul-de-sac.
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The top regional Queensland suburbs for investment opportunities
Queensland boasts a huge array of regional locations that draw in house hunters from around the country, from hinterland towns to beachfront living.
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Auction volumes and clearance rate dip with three major capitals in lockdown
Both auction volumes and the preliminary clearance rate fell this week in the wake of lockdowns across Australia's three largest capitals.
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REIACT speaks out against proposed Residential Tenancies Act changes
The Real Estate Institute of the Australian Capital Territory (REIACT) has urged all landlords and tenants to speak up about proposed changes to the Residential Tenancies Act. REIACT CEO Michelle Tynan said the proposed changes to the Residential Tenancies Act (RTA) could have wide and damaging consequences for private rental stock numbers in the territory. “The minimum energy efficiency standards…
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REA Group Australia reveals strong growth in their FY21 results
REA Group has announced positive end of financial year results, with their revenue of $928 million up by 13 per cent, and net profit of $318 million up by 18 per cent.
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Sydney’s CBD office market shows resilience amid lockdowns
The Property Council of Australia's latest Office Market Report has highlighted the resilience shown by the Sydney CBD office market.
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Openn Negotiation partners with RE/MAX Australia
Australian-listed PropTech company Openn Negotiation has signed a partnership agreement with real estate network RE/MAX Australia. The partnership will support the adoption of Openn Negotiation as a sales method, enabling further growth of the platform through group agent training. There will also be a series of technical integrations with RE/MAX Australia’s own digital assets. The property data is set to…
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REA Group named one of Australia’s best workplaces
REA Group has been named Australia’s fourth ‘Best Workplace for 2021’ by Great Place to Work. The REA Group was certified by Great Place to Work in June and was recognised as the fourth highest performing organisation with more than 1000 employees at a virtual event yesterday. The acknowledgement is two places higher than that achieved in 2019, when REA was…
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Podium aims to drive a texting revolution for local businesses in Australia
Communication and payments platform Podium has continued its international expansion, announcing its launch in Australia.
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New housing loan commitments are starting to wane
Australia’s strong property market is starting to settle down as economic concerns about lockdowns start to make an impact, new Australian Bureau of Statistics (ABS) data has shown. Real Estate Institute of Australia (REIA) President Adrian Kelly said housing loan commitments had fallen, but remained at an historically elevated level of $32.1 billion. “The latest figures show that the value…
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RBA maintains flexible approach with continued cash rate hold
The Reserve Bank of Australia (RBA) has decided it will keep the nation's official cash rate on hold at 0.1 per cent.
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More than half of experts say lockdowns will slow property price growth
Strict lockdowns are one of the few things that can slow down Australia’s recent surging property price growth, according to experts.
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New Zealand’s market slowdown is gradually unfolding
CoreLogic’s House Price Index (HPI) showed New Zealand’s house values increased by a further 1.8 per cent over July, with a market slowdown starting to develop. This was the same rate of growth recorded in June, but down on both May (2.2 per cent) and April (3.1 per cent). While New Zealand is likely to be past the peak growth…
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