INDUSTRY NEWS
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Confidence in the housing market has boomed: Westpac
"This is an extraordinary result," said Westpac chief economist Bill Evans of the overall consumer sentiment.
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New Zealand sees flood of first home buyers over September quarter
First Home Buyers made up a quarter of the total property purchases in New Zealand during the September quarter, according to figures from CoreLogic.
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The full impact of HomeBuilder is now evident: HIA
The full impact of HomeBuilder is now evident with sales now 11.8 per cent higher compared to last year. HIA
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REA Group wants you for their online property panel
REA Group has launched its new realestate.com.au Property Panel, and are seeking sales agents, principals and property managers to be part of the inaugural panel.
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Zillow moves further into residential real estate with new Homes division
The world's largest real estate listings company Zillow are planning a larger move into the residential real estate space, although they insist they will not be poaching agents from other businesses.
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Sydney’s vacancy rate on the rise again
Despite a slight turnaround in August, vacancies in Sydney are once again on the rise.
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Landmark judgement in favour of pets in apartments
The NSW Court of Appeals has delivered a landmark decision, rejecting an attempt by an owners corporation to ban animals in Sydney’s Horizon building. The unanimous decision by three Court of Appeal judges found The Horizon’s blanket rule banning pets is a breach of legislation. “This decision effectively changes the way owner’s corporations can govern their strata schemes,” Sharon Levy…
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Epic Bondi auction fields over 200 bids
The reserve price on a four-storey, five-bedroom house on Moore St in Bondi was set at $3.6 million.
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Minister for Housing assures REIA of ‘resilient’ property market at roundtable
Minister for Housing, Michael Sukkar, joined the members of the Real Estate Institute of Australia for a virtual Budget 2020 Real Estate Roundtable, during which he detailed the positive impact the Budget will hopefully have on the property sector.
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Is housing supply driven solely by demand? New research sheds light
New Australian Housing and Urban Research Institute (AHURI) research reveals what many of us assumed, that housing supply across Australia is uneven. The uneven distribution of housing supply 2006-2016 was authored by academics at The University of Sydney, Curtin University, and The University of Adelaide, and delves into both the…
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Vic property values defy gloomy predictions
Despite the prolonged lockdown and a reduction in auctions, Victorian property values have continued to defy gloomy price predictions with regional homes even setting a new quarterly record. Releasing new data on Sunday, Real Estate Institute of Victoria President Leah Calnan said values were holding firm after six months of the Coronavirus pandemic. “The quarterly median prices for the September…
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Clearance rate climbs to 71.5 per cent
The combined capital city preliminary auction clearance rate increased to 71.5 per cent across a higher volume of auctions this week. CoreLogic reports there were 1090 homes taken to auction over the week, up from 648 over the previous week although significantly lower than this time last year (2,022). “Of the 822 results collected so far, 71.5 per cent were…
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First home buyer loans hit 11-year high
"The short-term stimulus from HomeBuilder is emerging in the housing finance data released by the ABS today."
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Overseas job outsourcing surges as JobKeeper reduces
An Australian employment specialist says businesses struggling to remain profitable through COVID and this week's JobKeeper cuts, are increasingly looking offshore to reduce staff costs.
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LJ Hooker honours top performers at International Awards
LJ Hooker has recognised its top performers across Australia and New Zealand at its annual International Awards Night, held virtually this year. LJ Hooker Network Chief Graeme Hyde said the awards night is the most important event of the year, especially during these unprecedented times. “With the year 2020 has…
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REIV auction competitions to go ahead, despite lockdown
It takes more than a pesky pandemic and Stage 4 lockdowns to stop the REIV Auction Competitions from proceeding in 2020. This year, Victorian auctioneers will battle it out online, an apt representation of how the industry has operated throughout the year. "The Victorian Real Estate sector revealed its strength…
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Strong industry support for Federal Opposition’s property plan
Both the Master Builders Australia and the Property Council of Australia have welcomed the Federal Opposition's plan to rebuild the economy, as outlined in Anthony Albanese's Budget Reply Speech. "A strong pipeline of building and construction work is vital to building our way of out recession and we acknowledge the…
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Little movement in the property clock
As Victoria reopens for business, Herron Todd White has reported very little movement in the property clock over September with just a few select regions improving their position while major markets like Sydney and Melbourne remain in decline. This month Herron Todd White notes the capitals of Adelaide, Canberra, and Hobart retain poll position, Albany in WA has reached the…
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Queensland teams with Mirvac and Frasers for build-to-rent project
The Queensland Government have announced partnerships with two developers for their Build-to-Rent Pilot Project. Frasers Property and Mirvac will work with the Government to deliver affordable key-worker housing options to the inner-city. Under the Pilot Project agreement, Frasers Property will develop 354 apartments on a 2,020 sqm site in Fortitude…
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Treechange vs seachange: which is better?
As city-dwellers flee for the comfort of a slower paced life, a debate has reared up. Which is better, the beach or the bush?
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PropertyMe has been named an ABA100 Winner
PropTech company, PropertyMe, has been named the ABA100 Winner in the Australian Business Awards 2020 for CX Management. It comes just one month after surpassing one million properties managed in PropertyMe – almost 50 per cent of the 2.3 million rental properties in Australia. Now in its 15th year, the Australian Business Awards provides an opportunity for high-performing organisations which…
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Award-winning technology recognised for protecting property purchases from cyber theft
October is Cyber Security Awareness Month and Securexchange describes themselves as the property industry’s answer to fighting cyber-fraud. Today, Securexchange won the prestigious Australian Business Award for New Product Innovation, highlighting the need for law firms, conveyancers and real estate agents to be aware of the risks of cybercrime and what they need to do to keep themselves and their…
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RE/MAX top real estate franchise on international Top 200 list
For the twelfth straight year, RE/MAX has ranked as the No. 1 real estate franchise brand in the annual Franchise Times Top 200 list, based on global sales. RE/MAX Australia Managing Director, Joel Davoren, said the honour reinforced the enduring quality of the brand, and its resilience, innovation and leadership. “This recognition reflects the quality of RE/MAX broker owners and agents around…
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Budget is great news for real estate – if forecasts become reality: REIA
The Real Estate Institute of Australia has said that the critical Budget 2020 has provided an encouraging outlook for all players in the Australian property market. President of REIA, Mr Adrian Kelly, said that despite the challenging and unprecedented events of 2020 with a deficit of $210 billion, Budget 2020…
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Many properties to sell at a loss as mortgage holidays end
The latest CoreLogic Pain and Gain report suggests that loss-making sales of distressed properties are expected to soar during this quarter.
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Budget not enough to halt construction downturn
The 2020 Federal Budget is "very much one of housing hits and misses", according to the Australian Institute of Architects, who warn it may not be enough to stop new construction projects from drying up. Institute CEO Julia Cambage said architects were "the canary in the coal mine" for the…
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Budget 2020: Business investment package a chance to go green
The Green Building Council of Australia has welcomed the 2020 Federal Budget, and hope the landmark business investment package will result in construction companies purchasing to energy efficient equipment.
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2020 budget breakdown
It’s been touted as the most important Federal Budget since the end of WWII, and its aim is to mitigate the disastrous economic impact of Covid-19 while spurring on the Australian economy. Here’s what was delivered as part of the belated Federal Budget for 2020, and how it’s set to impact real estate… Tested like never before “In 2020 Australians…
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Cutting JobSeeker payments will cause crippling rental stress in our cities
As soon as the COVID-19 pandemic caused businesses to shut down, state governments acted to avoid evictions by introducing moratoriums, and the federal government introduced the Coronavirus Supplement of A$550 on top of the fortnightly JobSeeker payment. These measures were intended to enable 1.6 million Australians to ride out the pandemic-related business shutdowns. This welcome…
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What the Federal Budget means for real estate
"We have a plan to create jobs, rebuild our economy and secure Australia’s future," said PM Scott Morrison, hours ahead of announcing the Federal Budget.
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RBA holds cash rate at 0.25%
Many predicted that the RBA Board would be announcing a drop in the cash rate to 0.1 per cent today, despite the news potentially overshadowing the Federal Budget announcement.
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First Home Loan Deposit Scheme is flawed: REIA
Changes to the Australian Government's First Home Loan Deposit Scheme that allocate 10,000 new grants only to those who purchase new or newly-built homes ignore the reality of the market, according to REIA.
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Clearance rate down slightly as volume decreases due to long weekend
Clearance rate down slightly as volume decreases due to long weekend Auction volumes were lower this weekend, as much of Australia enjoyed a public holiday, and that saw the clearance rate also slip marginally to just under 70 per cent CoreLogic reports 657 homes were taken to auction, down from…
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Queensland’s tourism towns are mortgage holiday hotspots
With Queensland tightly locked down during the pandemic, the only holidays taking place in the Sunshine State were mortgage holidays.
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It’s about to become easier to lend irresponsibly, to help the recovery
What used to be known as a requirement to lend responsibly is now regarded as red tape.
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