INDUSTRY NEWS
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Survey: Rent is easier to pay, but renters see a grim future
Renters are finding it easier to make their rental payments than at the start of the COVID-19 crisis, but feel less positive.
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HIA welcomes relaxed Qld border restrictions
Thousands of builders and tradies working either side of the NSW/QLD border will breathe a sigh of relief today.
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PCA call for six-month Home Builder extension
Recent research by the National Housing Finance and Investment Corporation predicted that demand for housing in Australia would fall by up to 232,000 dwellings over the next three years.
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Drop in migration to cause drop in Aussie housing demand
The global COVID-19 pandemic could cut demand for housing in Australia by between 129,000 and 232,000 dwellings over the next three years, according to new research released today by the National Housing Finance and Investment…
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Application date extended for land tax relief scheme
NSW landlords who reduced their tenant’s rent due to COVID-19 can still apply for the NSW Government’s land tax relief, with the submission date now extended until December 31. Relief is available to commercial or residential landlords whose tenants can prove financial distress due to COVID-19, and who have reduced their tenant’s rent for any period between 1 April, 2020…
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COVID-19 Safety Plans now mandatory for NSW open homes and auctions
COVID-19 Safety Plans are now mandatory for open homes and auctions.
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Highest preliminary clearance rate since March
With Melbourne still out of the picture, the remaining capitals have clocked up their highest combined preliminary clearance rate since March, coming in at 72.4 per cent. This is well above last week’s preliminary success rate of 67.3 per cent, which later revised down to 63.0 per cent at final figures, while CoreLogic notes this time last year, a final…
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Foreign investment fee an “outrageous impost” that will hurt economy: PCA
Proposed legislation that will increase the cost of foreign investment applications fees has been slammed by the Property Council as being "an outrageous impost on safe institutional investment into commercial property and discourage the very…
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REIWA point to Qld’s example as the way forward for WA
REIWA President Damian Collins has commended the Queensland Government's handling of the COVID-19 legislation
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“Mr Premier, I don’t think you understand” – REIV
REIV announce the start of a public campaign urging the government to reconsider their decisions, with the hashtag #reconsider-lockdown.
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$52.5m greener buildings package welcomed
The Property Council of Australia has welcomed today's announcement of a $1.9 billion package of investment in future technologies, including $52.5 million earmarked for improved energy efficiency in residential and commercial buildings.
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The pandemic has changed what buyers want, and developers are following suit
The pandemic has changed how and where people want to live, and what features they are now looking for in a house.
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Qld eviction freeze to be lifted in under two weeks
From September 30, the Queensland Government will lift its ban on the eviction of residential tenants unable to pay their rent due to the COVID-19 pandemic.
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Gen Z wants split-rate mortgages, Boomers want fixed rates
The generational gap is evident in new research by Finder, which shows a new level of employment uncertainty is influencing how younger generations would prefer to structure their home loans. Out of 1000 Australians surveyed on how they would structure their mortgage if they were to refinance, 20 per cent would choose a split mortgage, dividing their loan into fixed…
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Outdoor auctions now allowed in regional Victoria
Some good news has come at last for the Victorian real estate industry.
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HomeBuilder will keep residential building industry afloat in December Quarter
The HIA New Home Sales report indicates that HomeBuilder will support building activity and protect jobs in the industry during the December 2020 Quarter.
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Vic Government passes “fundamentally flawed” retail leases bill
The Victorian Government yesterday passed the Retail Leases Amendment Bill.
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REIA urges Daniel Andrews to restart Victorian property market
REIA urges Victorian Government to safely restart Australia's second biggest property marketThe REIA joins with the Real Estate Institute of Victoria (REIV) in calling on the Victorian Government to reintroduce contactless activities in the real…
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Australia’s lowest mortgage rate is now 1.89 per cent
In late June, Loans.com.au became the first lender in the country to offer a home loan rate of under 2 per cent, with their 1.99 per cent introductory rate. Since then, nine other lenders have slid under the 2 per cent bar, prompting a race to the bottom that is now being led by Reduce Home Loans – who clearly…
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REIWA: Dwindling vacancy rate “a recipe for disaster”
In two months, Perth’s vacancy rate has dropped from 2 per cent to 1.3 per cent, and the Real Estate Institute of Western Australia expects this figure to keep dropping – a situation they are dubbing “a recipe for disaster” for tenants looking for a rental property. “The McGowan Government’s short-sighted decision to extend the emergency period for all tenancies…
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REIV implores government to allow one-on-one inspections
Touting what they call “a safe and simple answer”, the REIV has called for the Victorian Government to allow one-on-one inspections of properties to “help save many Victorians from financial distress and homelessness”. They argue that the current restrictions are hurting potential sellers, especially considering that often people are forced into selling their home due to financial pressure, and this…
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All the winners from the 2020 reiwa.com awards
Western Australia's real estate professionals came together to celebrate the industry's best at the 2020 reiwa.com Awards Ball held at Crown Perth on Saturday 12 September.
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The 10 ‘danger zones’ for unit oversupply in Australia
RiskWise has identified the Top 10 'Danger Zones' areas in Australia.
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Domain teams up with The Block agents to sell this year’s properties
Domain will again be supporting the selling agents on this season of The Block. In the lead up to the finale, Domain will be helping the agents maximise their exposure for the five period homes in the Melbourne bayside suburb of Brighton. The Block listings will be exclusive to Domain, with agents given access to property marketing offerings across print,…
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Homely appoints David Holmes as Qld State Manager
Real estate portal homely.com.au has appointed well-known industry figure and auctioneer, David Holmes as their Queensland State Manager. This announcement comes off the back of Homely rolling out their Agent Participation Program in Queensland and…
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Auction results highlight Melbourne’s pain
The lockdown toll is being felt across the Melbourne auction market, with CoreLogic reporting a clearance rate of 27.3 per cent this week after three of the 14 homes listed for auction at the weekend sold prior, and eight were withdrawn. Domain had similar figures, reporting a clearance rate of zero per cent after 10 homes were listed for auction,…
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Josh Logan-Pye wins 2020 REINSW Novice Auctioneers Competition
Josh Logan- Pye beat out more than 25 novice auctioneers last night to take out the 2020 REINSW Novice Auctioneers Competition champion. “I’m blown away to be crowned NAC Champion,” says Logan-Pye. “I decided to…
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Rent.com.au raises $1.5m to launch RentPay
Rent.com.au has raised $1.5m to market and launch RentPay, RENT's flagship 'tenancy period' product.
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Sydney vacancy rates down for first time since COVID-19 hit
It might be too early to say for sure, but the REINSW Vacancy Rate Survey results for August 2020 suggest that the worst may be over. Vacancies across Sydney overall decreased for the first time in August, after five consecutive months of increases, and now sit at 3.7 per cent – a drop of 1.3 per cent from July. Similarly,…
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Victorian Treasurer offers hope to real estate agents angered by restrictions
Victorian Treasurer Tim Pallas has suggested a level of flexibility in the much-maligned Victorian roadmap that may give relief to frustrated real estate agents.
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REIWA ‘extremely disappointed’ by extension of rental emergency period
REIWA is extremely disappointed with the WA Government's decision to extend the emergency period tenancy.
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Bathurst indicative of tight regional rental market
Bathurst Real Estate principal Michael Whittaker has confirmed just how tight the rental market is in some regional areas of New South Wales, noting vacancy in his region is currently below 1 per cent. In…
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Banks plan to hike interest rates for COVID-impacted customers
Three of the country’s largest banks have conceded that they will increase interest rates for those financially distressed customers planning to make interest-only repayments after the mortgage holiday period ends. NAB, Commonwealth and Westpac have admitted that rates will be higher for those customers only paying interest on their home loans, as opposed to those who pay principal plus interest.…
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Unit oversupply in Brisbane scaring off buyers
The inner-city Brisbane unit market was suffering from oversupply before COVID-19 struck, but now researchers are warning it has become a “huge danger zone” for potential investors. According to RiskWise Property Research CEO Doron Peleg, things have become much worse over the past few months, and will continue along these lines. “RiskWise reported in July 2018 that there were 14,813…
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Melbourne agent shares loophole for Stage 4 property inspections
Private inspections of properties will not be allowed until at least October 26 in Melbourne, but Hockingstuart Altona/Williamstown principal Anthony Anile has found a legislative loophole to help his clients continue to sell their properties until the lockdown is lifted. Mr Anile is inserting a clause into all sales contracts that makes the final sale conditional upon a satisfactory physical…
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