INDUSTRY NEWS
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89 per cent of property experts want land tax not stamp duty
Finder's RBA cash rate survey: 89% of experts support axing stamp duty nationally News highlights: Majority of respondents in favour of national land tax rollout Brisbane ranked as best capital city to buy property All experts surveyed (40/40) predict a cash rate hold for December 30 November 2020, Sydney, Australia -…
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HomeBuilder extension announced
The Federal Government has announced an extension of the HomeBuilder grant in a move that’s been widely welcomed by the property sector On Sunday, Prime Minister Scott Morrison announced the extension of the scheme at a reduced rate until March 31. The HomeBuilder scheme was initially devised as a COVID-19…
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Melbourne overtakes Sydney as busiest auction market
The preliminary clearance rate has held firm, keeping pace with a rise in auction volumes this weekend as Melbourne overtook Sydney to become the busiest capital. This week CoreLogic reports 2155 homes were scheduled for auction across the combined capital cities, up from 1803 the week prior. Of the 1763…
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Cancelling rental debt would be ill-informed and cause mayhem: REIV
The Real Estate Institute of Victoria has hit out against calls by tenancy advocate groups to cancel all rental debt.
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Which are the most affordable and liveable suburbs?
Research from PRD Real Estate has revealed the most affordable and liveable suburbs in Sydney, Melbourne, Brisbane, and Hobart, as we swing into the new year. PRD calculated the difference between the average home loan in a state, and the median unit and house prices in the suburbs to measure affordability. Liveability took into account crime statistics, amenities, employment rates,…
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Property Council implores Qld Government to support build-to-rent projects in Budget
Ahead of Tuesday's budget, the Property Council of Australia is urging the Queensland Government to match the commitments of the New South Wales and Victorian Governments and introduce land tax concessions for Build-to-Rent projects in Queensland. "With COVID-19 drastically impacting economies around the globe, there has never been a more…
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‘Building Stronger Homes’ to make Aussie buildings more fire resilient
The Master Builders Australia and the Insurance Council of Australia brought together a number of peak construction industry bodies, insurance professionals, financial, scientific and economic experts for today's Building Stronger Homes Roundtable. According to the Australian Institute of Architects, this was "an important initial conversation among industry leaders following the…
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Stamp duty is a terrible tax – its evils are well understood: Property Council
This week, State Treasurer Tim Pallas announced the Victorian Government would be slashing stamp duty. It's not the wholesale removal of the tax that New South Wales — for home sales under $1 million only — at a rate of 50 per cent for new build homes and 25 per…
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Confusion surrounds whether pets are allowed in NSW apartments
The recent decision preventing Owners Corporations from blanket bans on pets in New South Wales apartment buildings, meaning all unit owners can keep pets in their homes, was seen as a big win for animal lovers. But according to the Real Estate Institute of NSW (REINSW), it has also fuelled…
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Sydney’s prestige property market to soar in 2021: Knight Frank
Sydney’s prestige residential price growth forecast higher than global average: Knight Frank has released its Prime Global Forecast 2021, in which analysts have provided their prime price forecasts for 22 cities around the globe in 2021, as well as assessing future market drivers and risks • Sydney’s prime residential market…
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Vic Budget: Renters and owners to benefit from $797m household energy package
The Victorian Budget 2020/21 has promised what the Andrews Government are calling "the biggest household energy efficiency package in any state’s history" among a number of historic housing packages announced. creating thousands of jobs, while also reducing greenhouse gas emissions. Spending more time at home this year has meant bigger power bills…
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Renters in Victoria soon won’t have to deal with dodgy heaters and insulation
Renters will no longer have to contend with poorly insulated homes and Victoria will move closer towards 7-star home efficiency standards under a A$797 million plan announced this week. It’s purportedly the biggest energy efficiency scheme in any Australian state’s history. Energy efficiency essentially means using less energy to perform the same job. It’s…
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Market update: Which regional areas are on the rise?
The CoreLogic Regional Market Update, which looks at capital growth over the 12 months to October in Australia's 25 largest non-capital city markets, saw Tasmania's Launceston & North East region remain the top performer for houses for the third consecutive quarter (10.5 per cent). However, the thriving Tassie region lost…
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REIACT Awards 2020: All the winners
The ACT’s real estate sector came together on Saturday night to celebrate its’ achievements and recognise outstanding performers in a year that has changed the way real estate has had to be done. “This year, our Awards for Excellence has showcased the adaption, innovation and education the real estate sector…
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Rules relaxed for Victorian inspections and auctions
Victorian Premier Daniel Andrews has announced further relaxations to the state's COVID-19 restrictions. Open for inspections and in-person auctions can now be attended by up to 20 people indoors, and 50 outdoors. Workers in the Melbourne CBD will return to offices from next week, with strict capacity numbers and cleaning…
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Jimmy and Tam win The Block 2020
Despite all of the challenges of 2020, a bumper season of The Block reached its conclusion last night with total winnings of all contestants topping $3.3 million. But the biggest payday was for Jimmy and Tam, who’s property at 360a New Street, Brighton sold for more $966,000 over the reserve. Add this to the winner’s prize money of $100,000 –…
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Auction volume surges to early April levels, clearance rate keeps pace
The preliminary auction clearance rate has reduced a little this week, coming in at 73.6 per cent, after 1791 homes were scheduled for auction across the capitals. The volume is a slight increase on the week prior when 1728 properties were taken to auction, and marks the highest number of auctions since the week ending April 5. CoreLogic notes of…
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Victorian homes averaging just 33 days on market
The latest Days on Market data from the Real Estate Institute of Victoria revealed that, in October, the average Victorian home spent just 33 days on the market before being sold.
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REIA opposes new foreign investment fees for residential property
REIA has fronted a Senate Economics Committee to give evidence on the Foreign Acquisitions and Takeovers Fees Imposition Amendment Bill 2020.
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REINSW notes ‘unintended consequences’ of stamp duty reform
While the news that the NSW Government are planning to remove stamp duty taxes may appear to be good news on the surface, the Real Estate Institute of NSW highlights some of the unintended consequences of simply replacing one tax with another. “It is clear that the way property is…
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3.8 million Aussies plan to buy property in 2021: Finder
Record-low interest rates, government stimulus, the rise of remote work, and a readjustment of priorities has led to a sharp increase in house hunting, according to new research by Finder.
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REINZ Awards for Excellence: the winners
The 2020 REINZ Awards for Excellence were held last night at Cordis Auckland, with more than 550 attendees from across the country coming together to celebrate the New Zealand real estate industry’s night of nights. Unlike a lot of their Aussie counterparts, the New Zealand industry was lucky enough to be able to hold their awards in person. Across the…
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Payments have resumed for most deferred home loans
“This is an encouraging sign that most Australians are through the worst”, said Australian Banking Association CEO, Anna Bligh.
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Perth vacancy rate drops again, heading towards a forty-year-low
The residential vacancy rate in Perth has dropped again, now sitting at 0.95 per cent.
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Stamp duty could soon be scrapped in NSW
The NSW Government has today announced they are "considering a once in a generation change" in stamp duty laws.
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A demand for detached housing will ‘pull the economy forward’: HIA
A renewed interest in detached housing will put our economy into recovery mode, according to HIA's Chief Economist Tim Reardon.
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The housing sector is turning a corner: ANZ
After considering their initial view of a 10 per cent housing drop "too pessimistic", ANZ economists now feel that the housing market bottomed out last month, and will rise throughout 2021.
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Monica, Marge, and Carrie: the TV homes we take design inspiration from
There's a long running joke about the likelihood of the characters from Friends actually being able to afford those spacious Manhattan apartments they live in.
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Top student housing company offers 20,000 quarantine spots to rebuild industry
A recent report on the $32 billion international student industry paints a dire picture.
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Vic Government announces biggest public housing project in Australian history
The Victorian Government has announced a historic $5.3 billion social housing project that will see over 12,000 public houses built and create 43,000 jobs.
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Success magazine bought by eXp World Holdings
Leading business magazine Success and all related media properties have been bought by eXp World Holdings.
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Over three-quarters of auctions successful this week
The preliminary clearance rate has come in at a healthy 75.1 per cent this week after 1739 properties were taken to auction across the capitals. This volume is sightly lower than last week and significantly less than the same period last year, with Melbourne’s auction numbers yet to return to…
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REINSW has big plans for the state’s strata schemes
REINSW's Strata Management Chapter Committee has outlined a number of changes they would like to see made to the current management and regulation of strata schemes.
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‘Pain before gain’ – Investors will return with the international students
“Investors who already own property and are suffering may want to hang in there for another six or 12 months."
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Eagle Software brings QR Codes to contactless inspections
Eagle Software have harnessed the power of QR Codes to assist agents in performing contactless inspections.
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