Real Estate News
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Consumers start to cut spending as rates rise
Rising interest rates and high inflation, are starting to hit the hip pockets of consumers with new data showing people are cutting back on their spending.
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No end in sight for rising construction costs
There’s still no relief in sight for builders with construction costs continuing to rise at a record rate.
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House price falls to continue into 2023: NAB
There’s likely more property price declines ahead with values to continue decreasing in 2023, according to the National Australia Bank.
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Rundown Sydney home in need of $500,000 in repairs hits the market
A rundown Sydney home that needs upward of $500,000 in repairs is attracting plenty of interest from potential buyers.
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Sandra Bullock selling her San Diego estate
Miss Congeniality star, Sandra Bullock is looking to offload her mammoth 91-acre San Diego compound for US$6 million.
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Different to offer property management as-a-service
Australian proptech :Different, has announced the launch of an all-in-one property management solution, :Different for Agencies.
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NSW Government announces offer for first home buyers to swap stamp duty for ongoing land tax
From January 2023, eligible first home-buyers in NSW will be able to choose between annual land tax and the upfront stamp duty. The scheme, called First Home Buyer Choice, includes an online calculator that will help buyers compare their options. For properties with a purchase price of between $650,000 and $1.5 million, buyers will have the choice of a smaller…
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Rental stock levels well below five-year average
Rental stock levels are more than 35 per cent below the five-year average and growth in annual rents has broken into double digits for the first time on record, new figures show.
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The latest tech gadgets real estate could use
If there’s one thing real estate agents don’t have a lot of, it’s time. Productivity is key to a successful career, and there’s a few new tech gadgets that might help in that department. Take a look.Â
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Further rate rises likely in New Zealand: CoreLogic
Rising inflation in New Zealand will likely mean more interest rate rises ahead according to CoreLogic. CoreLogic NZ Chief Property Economist Kelvin Davidson said the fact that inflation had not yet slowed down and that the Reserve Bank of New Zealand considered the case for a 0.75 per cent rise should indicate further tightening ahead. “The past few weeks have…
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Rising interest rates lead to a surge in refinancing
Homeowners are refinancing their mortgages at record levels as the impact of rising interest rates start to take hold.
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Preliminary clearance hits its highest peak since late May
The preliminary clearance rate has reached its highest point since May after auction volumes increased this week.
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Sydney vacancy rates hit the lowest on record
Sydney's vacancy rate has dropped to a record low of 1.1 per cent, with the number of available rental properties more than halving in the past year.
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Affordability continues to cause problems for first home buyers
The surge in home prices over the past few years continues to make it more difficult for first home buyers to get into the market. Finder’s First Home Buyers Report 2022 has shown that those people currently looking to buy rated affordability as their top factor in selecting a home, followed by access to public transport, proximity to shops, and…
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Elton John purchases luxury Toronto penthouse
Rocket Man Elton John has added to his already impressive property portfolio, picking up the penthouse in the King Toronto development in downtown Toronto.
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Perth rental stock hits the lowest level in 12 years
Perth rental volumes continue to plummet, with new data showing the number of available properties has reached a 12-year low.
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The Agency fortifies corporate team with new appointments
National real estate brand The Agency has made a series of strategic appointments across marketing and agent support that will underpin its next growth phase. These appointments include a chief marketing officer (CMO), head of brand, and head of agent experience, with the group dedicated to offering the highest quality experience for agents and their clients. The new marketing team…
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Sydney’s ‘Rainbow House’ to go under the hammer
One of Sydney’s most recognisable houses, a two-storey Enmore terrace painted in rainbow stripes in support of the 2017 same-sex yes vote, will go to auction on Saturday, October 8.
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Damian Collins ends REIWA presidential term proud of the industry’s achievements
Damian Collins’ four-year term as Real Estate Institute of Western Australia president will come to an end on October 13.
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Prevent burnout with new property management tools
Property managers are calling time on the real estate industry, struggling to cope with busy workloads and poor access to tools and resources needed to succeed.
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How to choose the right exit strategy for your business
Sales, retirements, and unforeseen events can lead to you or a partner exiting your real estate agency, but many business owners aren’t fully prepared for this critical step in their business’ life cycle.
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Lending to build new homes slows down
Rising interest rates continue to weigh on housing finance, with new data from the Australian Bureau of Statistics showing a decline in August.
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Tommy Lee relists his Los Angeles home
Rock-n-roll icon Tommy Lee is once again attempting to offload his Los Angels home and looking at taking a substantial loss in the process.
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Rents rise at fastest quarterly pace on record
Rents have risen at the fastest quarterly pace on record, soaring 4.3 per cent nationally in the three months to September.
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Major banks to pass on full RBA rate hikes
Australia’s big four banks have been quick to pass on the Reserve Bank of Australia’s 25 basis point rate hike in full to their variable mortgage customers.
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Top agent doubles income with Area Specialist
Almost a year after launching his own business in partnership with real estate network Area Specialist, leading south-east Melbourne sales agent Marcus Washington is certain he made the right move.
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Falling property prices contribute to drop in household wealth
Household wealth has fallen for the first time in more than two years, with $484 billion being wiped off in the June quarter.
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RBA takes more moderate approach with 0.25 per cent cash rate increase
After a series of bullish interest rate hikes in recent months, the Reserve Bank of Australia has tempered its approach, increasing the cash rate by 25 basis points at its October meeting today.
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Loss-making resales have started to rise as property downturn continues
The Australian property market has peaked and turned downwards, with the number of loss-making transactions starting to rise.
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Regional property values set to benefit from the renewable energy boom
Australia’s focus on renewable energy will see a number of regional property markets across the east coast benefit from rising prices and long-term capital growth.
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Larry David wins bidding war for a Montecito estate
Curb Your Enthusiasm creator Larry David has acquired a Montecito home in a bidding war, paying US$7.6 million, which was US$600,000 over the asking price.
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Exciting gifts deepen connections for property clients
What was the last gift you shared with a customer? A scented candle? A calendar with a card? Humdrum gifts will never compete with the chance to go parasailing in Queensland or a wine-tasting on the Margaret River, are they? Yet it has never been easier to deliver exciting gift ideas to customers with the help of We Wander. The…
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New QLD rental laws for pets to come into play
Queensland's new rental laws have come into effect, with property owners no longer able to set a 'no-pet policy' unless certain criteria are met.
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CoreLogic’s September figures show a slower start to the traditional ‘spring selling season’
Across the combined capital cities, CoreLogic’s national home value index (HVI) recorded a 1.4 per cent decline in September, easing from a 1.6 per cent fall in August. The result shows the declines in property values are losing some steam, but according to Core Logic Research Director Tim Lawless, it might be too early to predict that we’ve moved through…
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Auction volumes down but clearance rate holding steady
Consecutive long weekends have continued to impact auction volumes, with 1613 properties taken to auction across the combined capitals this week to return a preliminary clearance rate of 62.3 per cent.
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