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Real Estate News
Seller confidence on the up as clearance rate holds steady
Seller confidence continues to improve with the capitals reporting the highest number of auctions in nine weeks on Saturday, along with volume and clearance that exceeded this time a year ago. CoreLogic reported 1424 homes went to auction at the weekend, returning a preliminary clearance rate of 64.5 per cent. “This was the highest number…
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TECH + SOCIAL
Real estate industry invited to contribute to PropTech future
The real estate industry is being invited to have its say on the future of PropTech after REACH Australia unveiled a group of Australasian PropTech providers who could revolutionise the sector both locally and overseas. Known collectively as the REACH Australia Class of 2020, the companies included in the cohort range from property management platforms to integrated smart lock providers,…
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Real Estate News
Clearance rate continues to climb on the back of higher volumes
Both auction volumes and the clearance rate lifted this week, with 1262 homes scheduled for auction in the capitals, returning a preliminary clearance rate of 66.1 per cent. CoreLogic reported this was up from the 63.3 per cent preliminary clearance rate returned last week across 1181 auctions, which later revised down to 59.3 per cent…
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BEST PRACTICE
Top tips for business success
After a rollercoaster couple of months, the real estate sector is now looking to get back to business as usual. But like it or not, the playing field has shifted markedly since the beginning of the year, and agencies large and small are being forced to re-evaluate, reconsider, and reposition. To assist, we’ve assembled some of the top business tips…
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Real Estate News
Laura Shooter of SJ Shooter Real Estate named Transform 2020 winner
SJ Real Estate Managing Director Laura Shooter has been named the winner of Elite Agent’s Transform challenge for 2020. Receiving the welcome news on Friday, Ms Shooter said was “very excited,” and “quite surprised” to take out the title over a field of 306 participants who completed this year’s 30-day virtual course. “I didn’t go…
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Real Estate News
Preliminary auction clearance rate rises as volumes increase
The preliminary clearance rate lifted to 63.3 per cent this week as volumes also showed further signs of increasing. Across the capitals, CoreLogic reported 1164 properties were scheduled for auction; the busiest week for auctions since the week ending 19 April. Last week, there were 711 scheduled auctions with a preliminary clearance rate of 59.8 per cent, which later revised…
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Real Estate News
Auctions soften over long weekend
The long weekend delivered both a lower volume of auctions and a softer clearance rate as most states and territories kicked back to enjoy the Queen’s Birthday public holiday. This week, CoreLogic reported 694 capital city homes were scheduled for auction, with preliminary results returning a 59.8 per cent clearance rate. The previous week saw 856 homes scheduled for auction…
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Real Estate News
Clearance rate and auction volumes continue to strengthen
Auction volumes have continued to strengthen this week as the capital city clearance rate remains a heartening 65.9 per cent. Although the volume is still tracking at just over half that recorded during the same time in 2019, this week 867 capital city homes were scheduled for auction. The previous week saw 612 homes scheduled for auction and a final…
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Real Estate News
Clearance rate hits pre-Covid high as volumes continue to lift
The combined capital city clearance rate has rebounded to its highest level since early March, surpassing the 70 per cent mark as volumes also show signs of improving. This week, 613 auctions were scheduled across the capitals, marking an increase on previous weeks and returning a promising clearance rate of 70.9 per cent. CoreLogic notes this was the highest preliminary…
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Elite Agent
Creativity and innovation: Suzannah Toop
A few years ago, second-generation real estate professional Suzannah Toop was lucky enough to enjoy a coffee with Google Australia Head of Engineering, Alan Noble. When she asked him about the role of real estate in the future, his response struck a chord. “He just looked at me, and I’ll never forget it,” Suzannah says. “He simply said: ‘Well you…
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Elite Agent
Clarity in a crisis – Realmark Whitfords
“We appreciated very early on that as a business we would be measured in the future by our response to Covid-19,” Paula and Jonathan Alsford – Realmark Whitfords When panic surrounding Covid-19 began to filter through the West Australian real estate market, Realmark Whitfords owners Paula and Jonathan Alsford made a conscious decision – communication would be paramount, and clarity…
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Real Estate News
Clearance rate strengthens on the back of eased restrictions
Relaxed social distancing regulations are showing early signs of positively impacting the auction market, with Sydney this week bouncing back to a preliminary clearance rate of 73.4 per cent. The welcome bolster to Sydney’s results helped lift the capital city clearance above 60 per cent, but CoreLogic is urging caution when analysing the results, with volumes still trending lower. Their…
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Elite Agent
Clearance rate lifts as on-site auctions ready for return
As auctions prepare to welcome back the public on-site, the clearance rate has enjoyed a boost. CoreLogic notes this week’s preliminary clearance bounced back to 64.5 per cent, marking the first time it has exceeded 60 per cent since late March. Volumes on the other hand, remain subdued. The past weekend saw 473 auctions scheduled, which was down on the…
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Real Estate News
Auction volumes to remain low for foreseeable future
Auction volumes are likely to continue at a lower rate for the foreseeable future, according to CoreLogic, with just 590 properties scheduled for auction across the capitals this weekend resulting in a clearance rate of 59.6 per cent. Volumes were up slightly on the week prior when 413 homes were scheduled for auction and a final clearance rate of 41.1…
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Real Estate News
Property searches on the up: REA
Online property searches are proving a popular pandemic pastime according to realestate.com.au, with their latest data revealing both buy and rent searches have increased significantly on this time a year ago. According to their latest figures, search activity for properties to buy is up 5.3 per cent in the past week and is now 37 per cent higher than it…
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Real Estate News
Auction activity slows for Anzac Day
A combination of Anzac Day commemorations and ongoing on-site auction restrictions saw just 431 properties go to auction across the capitals this week, with results only available for 223 of the properties as of Monday. CoreLogic results indicate volume was down on the 1,922 properties auctioned the previous week as the nation stopped to remember the Anzacs on Saturday and…
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Real Estate News
RBA offers sobering outlook for Australian economy
Reserve Bank of Australia Governor Philip Lowe has pulled few punches when it comes to the immediate future of the Australian economy, noting “over the first half of 2020 we are likely to experience the biggest contraction in national output and income that we have witnessed since the 1930s”. In a tough-love speech responding to a tough-love Covid-19 national lockdown,…
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Real Estate News
Property experts share COVID-19 market predictions
A group of property experts have shared their views on how COVID-19 will impact Australia’s property market, with most indicating the greatest effect will be felt within three to 12 months but many still believe by this time next year prices could be higher than they are at present. As part of a survey by Ripehouse Advisory, 146 property professionals…
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Real Estate News
Higher auction volumes again weighed down by withdrawals
Scheduled auction volumes increased this week, almost trebling in numbers after the Easter weekend, but as seen in previous weeks the results were weighed down by withdrawals, with the clearance rate coming in at 39.1 per cent. Across the capitals 1848 properties were listed for auction compared to 634 the week prior, according to CoreLogic’s figures. Of the 356 properties…
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Elite Agent
REEF applies for industry award variation for commission-only salespeople
With COVID-19 likely to heavily impact commission-only agents, the Real Estate Employer’s Federation (REEF) has applied for a variation to the Industry Award in a bid to postpone next year’s annual Minimum Income Threshold Amount (MITA) reviews. REEF CEO Bryan Wilcox said the application to the Fair Work Commission was filed by REEF and the Real Estate Employer’s Federation of…
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Real Estate News
Subdued Easter auction market
The Easter long weekend delivered subdued auction results, with just 636 homes slated for auction across the combined capitals, returning a preliminary clearance rate of 29.3 per cent. CoreLogic noted the clearance rate was again dragged down by withdrawn properties, with 57 per cent of listings pulled “as the auction market continues to face challenges around social distancing measures banning…
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Real Estate News
Jon Snead of The Agency: The value of unexpected kindness
As more and more COVID-19 social restrictions came into play, Jon Snead of The Agency Neutral Bay found himself increasingly preoccupied with ways he could help – not just as an agent but as a member of his community. Ultimately, he created ‘rescue packs’ comprising essential items for the vulnerable. Beautiful in its simplicity, it has gone viral as a…
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Real Estate News
Clearance rate weighed down by withdrawn auctions
Over 3000 properties were slated to go under the hammer this weekend. But according to CoreLogic 45 per cent were withdrawn from sale and a further 84 per cent of auctions sold prior to the event, resulting in a preliminary clearance rate of 48 per cent.
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Real Estate News
Gower Buchanan of Ray White NZ – Never more relevant than now
In New Zealand, the response to Coronavirus ramped up quickly, with the country given just 48 hours to prepare for full lockdown. Wherever people stayed the night of March 25, they were told to remain. All but essential services shut down. All businesses except supermarkets, pharmacies, clinics and lifeline utilities closed their doors. Ray White Ponsonby director Gower Buchanan notes…
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Real Estate News
Safety, certainty and empathy: How real estate agents can help buyers and sellers during COVID-19
As part of our suite of tools for managing the business of real estate during COVID-19, Claudio Encina and Matt Lahood joined Sam McLean to share their insight into how agents can help buyers, sellers and their communities during COVID-19
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Real Estate News
REIA president Adrian Kelly calls on stakeholders to step up over rent relief
As the real estate sector awaits a government announcement on rent relief, REIA president Adrian Kelly has issued an open letter to all stakeholders, urging them to step up and consider all sides of the equation. Addressing tenants, property owners, landlords, lobby groups, the industry and State Governments, Mr Kelly minced few words as he outlined the current state of…
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Real Estate News
JobKeeper payment announced to help business retain employees
The Federal Government has injected a further $130 billion into the economy through the establishment of a JobKeeper payment in a bid to keep businesses operating and their employees in work. Announced on Monday, the latest tranche of support funding is specifically targeted at keeping people employed and is designed to support an estimated 6 million Australians through a new…
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Real Estate News
A six-month moratorium on rental evictions, but still no support for agents
Prime Minister Scott Morrison has formally announced a six-month moratorium on evictions for commercial and residential tenants. The announcement came late Sunday as cabinet continues to work on the release of a full rent relief package. Mr Morrison said the issue of commercial and residential tenants in distress had been further discussed at today’s national cabinet meeting, but there was…
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INDUSTRY NEWS
High volumes, lower clearance as auctions go online
Auction volumes were high, but as expected, the preliminary clearance rate took a hit across the capitals this week, falling to 61.3 per cent amid continued uncertainty surrounding COVID-19. It wasn’t for lack of innovation, however as agents worked hard to adapt to a fast-changing environment. This week was the first to see all auctions…
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Real Estate News
The Eview Group – Setting up for the comeback
It’s far from business as usual but Manos and Maria Findikakis note it is business non-the-less at their offices all over Australia. This weekend their agents managed to secure a number of contracts despite the challenge of no open homes and a government rent relief package that remains up in the air. In the interim,…
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Real Estate News
Rent relief remains a work in progress: Scott Morrison
Formal action on rent relief remains a work in progress, with Prime Minister Scott Morrison today explaining it will form part of Australia’s “innovative” tranche three stimulus package which is designed to support business and individuals. Earlier today the PM met with premiers and chief ministers via a virtual national cabinet meeting, discussing the “contentious” issue of commercial and residential…
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Real Estate News
Real Estate Industry waits for a COVID-19 rent relief decision
The real estate industry is just hours away from learning how the nation will handle rent distress for residential and commercial tenants. Due to be discussed in a national cabinet meeting this morning, the focus is expected to centre around rent relief including a possible national stimulus package to underwrite commercial rents, rates, and taxes, and could include a moratorium…
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Real Estate News
Kylie Walsh of DiJONES – A stronger industry, embracing change
DiJONES’ general manager Kylie Walsh is no stranger to innovation, but in recent weeks she reflects the whole industry has been forced to innovate at speed. “As an industry, real estate has been very slow to change,” she notes. “But this event will force us to…
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Real Estate News
Daniel Lee of Plum Property – Picking up the tools to make the best of it
Daniel Lee of Plum Property – a Brisbane brand quickly gaining attention for its nifty use of video – is taking extensive precautions against COVID-19 with the aim of protecting both his 20-plus staff and his valued clientele. Open homesOf course, this playing field altered on Monday night with news open homes and auctions would no longer continue, but up…
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Real Estate News
Open homes and auctions halted
Real estate auctions and open homes are the latest casualties of the COVID-19 pandemic, with Prime Minister Scott Morrison tonight announcing these were among the events that “cannot continue” in a bid to combat Coronavirus. In an address to the nation, the PM labelled 2020 the toughest year for Australians “Our goal is to combat this together by following common-sense…
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