INDUSTRY NEWS
-
What the 2032 Olympic Games means for Brisbane’s property market
CoreLogic Asia Pacific research director Tim Lawless believes the 2032 Olympics should work as a positive influence on the Brisbane housing market.
Read More » -
Sydney’s luxury property market is number one in the world
Sydney’s luxury residential market is tipped to rise 10 per cent this year, according to Domain. This rise will make Sydney the world’s leading city for luxury property growth, as noted in Knight Frank’s Prime Global Forecast report. It’s a huge jump from last year’s 2021 forecast. In May last year, there was a forecast of just 1 per cent…
Read More » -
Property Council welcomes Brisbane Olympics win
The Property Council of Australia has welcomed tonight's announcement that Brisbane will be the host of the 2032 Olympic and Paralympic Summer Games, heralding it a 'golden decade of opportunity' for the city.
Read More » -
Openn Negotiation successfully lists on the ASX
Australian Proptech company Openn Negotiation has successfully listed and commenced trading on the Australian Securities Exchange (ASX) under the ticker OPN. Openn Negotiation’s listing on the ASX on July 21 comes after raising the maximum $9 million through the issue of 45 million shares at 0.20c per share, under the fully underwritten prospectus lodged in May. Openn Negotiation shares opened…
Read More » -
Victorian Government urged to allow one-on-one inspections amid ongoing lockdowns
The Real Estate Institute of Victoria (REIV) is urging the State Government to allow one-on-one inspections, noting the recently announced extension of Victoria’s fifth lockdown will wreak havoc on the real estate industry. On Tuesday, Victorian Premier Daniel Andrews announced the current lockdown would be extended seven days and is now slated to end on Tuesday, July 27. That’s likely…
Read More » -
Which regions have seen the highest rent value increases over the year?
CoreLogic data across 88 local markets shows that, as with the current housing market upswing, rental market increases have been broad-based.
Read More » -
Western Australia’s commercial property market is thriving
The commercial property market in Western Australia has risen from the ashes in the last financial year, according to Ray White. Ray White Commercial research has found Western Australia (WA) has greater certainty across all sectors, with tenants again occupying premises, business up and running, and low interest rates. Ray White head of research Vanessa Rader, in conjunction with Ray…
Read More » -
Property taxation is one of the largest barriers to housing affordability: REIA
Real Estate Institute of Australia (REIA) has urged the government to ‘axe the tax’, suggesting that removing property taxation will assist with the housing affordability crisis. REIA has suggested the National Housing, Finance and Investment Corporation (NHFIC) report Stamp Duty: Benefits and Challenges provides evidence that property taxation is one of the largest barriers to housing affordability and consistently performing markets. REIA…
Read More » -
US housing inventory jump is set to be a welcome relief for prospective buyers
Housing inventory saw significant recovery for the second straight month in June, according to the latest Zillow Real Estate Market Report. The increased housing inventory indicated the market may be on the road to rebalancing after a long stint of being heavily in sellers’ favour. But demand is still strong, sending home value appreciation to new record highs for both monthly…
Read More » -
Affordable regional markets are attracting first-time commercial investors
Raine & Horne has found regional commercial property markets around Australia are very attractive for business owners and investors, particularly for first-timers. Regional towns like Wagga Wagga, Port Macquarie and Mackay are experiencing very strong economies, primarily due to their COVID-19 recovery efforts. Executive Chairman of Raine & Horne Group, Angus Raine, said for those new to commercial property investing,…
Read More » -
Westpac revises its outlook for the Australian Dollar
Despite a long-term upswing in the value of the Australian Dollar (AUD), Big Four bank, Westpac believes there's still potential for more growth.
Read More » -
Are weekday auctions the new Saturday?
Saturday might be renowned as the prime day for property auctions, but according to Ray White's national auction day clearance rates, Friday is actually more successful.
Read More » -
Openn Negotiation set to go public
Digital sales platform, Openn Negotiation is just hours away from becoming a publicly-listed company, with the real estate proptech co set to start trading on the Australian Securities Exchange (ASX) from 10am on July 21.
Read More » -
Perth vacancy rates hit the highest level since August last year
With an increase of 1.2 per cent in June 2021, the Perth vacancy rate is at the highest level seen since August last year.
Read More » -
Regional NSW asking rents soar while metro locations continue to struggle
As more Sydney-siders seek a lifestyle overhaul, asking rents are soaring in popular New South Wales towns.
Read More » -
National rents record highest annual growth in over a decade
Despite rental growth slowing over recent months, CoreLogic's Rental Review for the June 2021 quarter shows national rental rates are 6.6 per cent higher than they were last year after enjoying the highest annual growth in dwelling rents since January 2009.
Read More » -
Clearance rate steady despite lockdowns in the largest auction markets
The combined capital city preliminary auction clearance rate remained relatively steady week-on-week, despite the announcement earlier in the week that Sydney was extending the current lockdown and Melbourne was commencing a fifth lockdown.
Read More » -
Property Council of Australia asks NSW to balance sustainable housing design with affordability
The Property Council of Australia has cautiously welcomed changes to the recent Design and Place State Environmental Planning Policies (SEPP) Explanation of Intended Effect (EIE) report, but notes sustainability must be balanced with affordability.
Read More » -
Governments urged to improve planning approval times
The REIA is urging the Federal and State Governments to improve planning approval times in a bid to address the diminishing housing supply.
Read More » -
Adelaide is now Australia’s best auction market
Ray White Chief Economist Nerida Conisbee says Adelaide has so far recorded the highest auction clearance rate in the network in July.
Read More » -
Snap lockdown thwarts Melbourne’s scheduled auction growth
Melbourne had more than 1,000 auctions scheduled, but the latest snap lockdown could significantly impact these figures.
Read More » -
Cheaper to buy than rent more than a third of Australian properties
CoreLogic analysis has suggested servicing a mortgage is now cheaper than paying rent on 36.3 per cent of Australian properties. That is 2.3 per cent higher than before coronavirus hit Australia. CoreLogic reported in February last year that mortgages were cheaper than renting for 33.9 per cent of properties. The analysis was undertaken at the individual property level, using a…
Read More » -
Vendor confidence up with appraisals rising 34 per cent
After a booming 12 months for Australian real estate, vendor confidence across the continent remains robust, according to Raine & Horne. Raine & Horne released new data that indicates property appraisals are about 34 per cent higher than winter 2020 and almost 44 per cent stronger than the same time in 2019. According to CoreLogic, national home values rose 13.5…
Read More » -
Australians’ savings drop as more struggle to pay rent
Australians’ saving levels have fallen to their lowest level since March 2020, according to new research by Finder. Finder’s Consumer Sentiment Tracker (CST) survey revealed more Australians are struggling to pay rent as Sydney’s lockdown lingers, with cash savings seeing a sharp decline. Each quarter, Finder analyses its most recent data to uncover the trends underpinning the financial, mental and physical…
Read More » -
New Zealand’s mortgaged investors see fall in share of property purchases
Over the past three months, New Zealand‘s mortgaged investors have seen their share of property purchases fall, while the number of first-home buyers (FHBs) bought at increased rates. CoreLogic New Zealand (NZ) Chief Property Economist Kelvin Davidson said these patterns were more due to the 40 per cent deposit mortgaged investors need, rather than the March tax changes. The June…
Read More » -
The interior design trends millennial prospective homeowners really want
Millennial interest in interior design trends has skyrocketed thanks to popular video-sharing app TikTok. So which styles are young prospective homeowners looking for? With millennial interest in homeownership sharply increasing, it is vital to maintain up-to-date knowledge of the latest trends, including in interior design. UK-based home insurer Money investigated which interior design trends have made the biggest impact this…
Read More » -
Amazon announces Luxe Listings Sydney season two is in production
Amazon Prime Video’s hit show Luxe Listings Sydney is currently in production for season two. The Amazon Prime Video exclusive’s second season will see the return of the Luxe Listings Sydney’s dynamic trio – Gavin Rubinstein, D’Leanne Lewis and Simon Cohen – and is set to provide fans with even more of the glamour, drama and stunning properties. The first season of Luxe Listings Sydney has…
Read More » -
Highest rate of dwelling value growth since 2004
CoreLogic data has revealed Australian dwelling values saw the highest annual growth rate since 2004. The latest CoreLogic housing market data found Australian dwelling values rose 13.5 per cent in the 2020-21 financial year, which was the highest annual growth rate in 17 years. Regional New South Wales saw dwelling value changes for the financial year increase by 21.1 per…
Read More » -
‘Inaction Figure’ campaign takes aim at traditional home loan lending industry
With 75 per cent of Australians frustrated with the traditional home loan process, Australian fin-tech Nano has launched the world’s first ‘Inaction Figure’ to take aim at the lending industry. The ‘Inaction Figure’ symbolises the frustrations Australians experience with traditional lenders when it comes to home ownership and refinancing. Some of the most significant frustrations include confusing jargon (72 per cent), too…
Read More » -
Property managers urged to stand up against domestic violence
The Real Estate Institute of Australia (REIA) is asking property managers to help them stand up against domestic violence by filling out a short three-question survey by 26 July, 2021.
Read More » -
What the updated lockdown restrictions mean for NSW real estate agents
The updated New South Wales (NSW) coronavirus restrictions are tricky for anybody to navigate. It's even more difficult for real estate agents who are trying to maintain business.
Read More » -
First home buyers in the US struggle to save for a down payment
It is estimated to take a full year longer to save for a down payment on a starter home than it did five years ago, a new Zillow study has found.
Read More » -
The top 10 most undersupplied metro rental markets revealed
The most undersupplied city locations for rental houses have been revealed, with some locations recording very few available properties for tenants.
Read More » -
What social media really thinks of Luxe Listings Sydney
Luxe Listings Sydney aired on Amazon Prime last Friday and the internet is blowing up about the Australian-based reality TV series. While some felt it was following a format seen too many times before, many viewers flocked to social media to share their love for the show. “Luxe Listings Sydney is SO good. I was not expecting this. It’s like…
Read More » -
Airtasker and Soho founder Jonathan Lui reveals major real estate website acquisition
Soho, an AI-powered personalised real estate platform, recently announced it has officially acquired Home Sales.
Read More »