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INDUSTRY NEWS
Construction costs show signs of easing after record increase
Residential construction costs rose by a record amount last year, new data shows, but signs of a slow down emerged in the latter months of 2022.
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INDUSTRY NEWS
When should NSW first-home buyers consider stamp duty over property tax?
It would take more than a decade for first-home buyers in NSW to be better off opting for stamp duty over the state's new property tax, though the scheme does risk inflating prices for properties under $1.5 million, Domain's Chief of Research and Economics says.
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INDUSTRY NEWS
Entire Tasmanian town of Tarraleah is back on the market
Tarraleah, a former hydro town in Tasmania, is back on the market following a Covid-disrupted campaign, with listing agent Ed McKay hoping 3D tours and a targeted video campaign will help bring it to the attention of high-profile investors.
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INDUSTRY NEWS
New UK start-up aims to split costs of owning a second home
A UK-based fractional ownership startup that aims to make owning a second home more affordable has launched, offering the chance to purchase a share in one of four luxury London apartments.
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Celebrity Homes
Michael B. Jordan lists Encino house after less than a year
The Creed and Black Panther star has put his Encino, Los Angeles property on the market less than a year after purchasing it.
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INDUSTRY NEWS
Australia’s top 100 streets for property values revealed
A new report from Suburbtrends has uncovered the top 100 streets in Australia for high-value properties.
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Inflation figures bounce back in November
New inflation data from the Australian Bureau of Statistics shows the consumer price index rose 7.3 per cent in the twelve months to November, up from October's 6.9 per cent.
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INDUSTRY NEWS
Western Australia’s housing supply hits a new low
The number of properties for sale and rent in Western Australia hit a 12-year low in December, according to the Real Estate Institute of Western Australia.
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INDUSTRY NEWS
PropTrack, CoreLogic report slowdown in rental price growth
Rental prices finished 2022 at a significantly higher level than they were the year prior, but price growth began to moderate during the December quarter, according to a new report from PropTrack.
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COMMERCIAL
Why electric vehicles don’t pose a threat to service stations just yet
Service stations were one of the standout assets during 2022, with the threat posed by the increased uptake of electric vehicles unlikely to be a drag on their values for some time, according to one expert.
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INDUSTRY NEWS
The best locations for cash flow in 2023 revealed
Property investors chasing lower holding costs should set their sights on larger regional cities, according to a new report from Propertyology.
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INDUSTRY NEWS
Building approvals fall again as RBA’s rate rises hit home
An economist is urging the Reserve Bank of Australia to "hold fire" on future rate rises after new building approvals declined again during the month of November.
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INDUSTRY NEWS
New property listings plunge in December as homes stay on the market longer
The number of new listings hitting the market in December fell by 31.1 per cent when compared with Novembers figures, according to the latest update from SQM Research.
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Real Estate News
Australian property values record largest decline on record
Australian property values have clocked the largest decline on record, dipping by 8.4 per cent between their peak on May 7 2022 and January 7 2023, according to CoreLogic.
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INDUSTRY NEWS
New population report reveals what Australia’s cities will look like in 2033
Melbourne remains on track to overtake Sydney as the country's largest city within the next decade, according to new modelling.
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INDUSTRY NEWS
2022 the worst year for property price drops since the GFC
December home price figures paint a mixed picture for a property market that came under intense pressure from rising interest rates during 2022, with some smaller capital cities still recording positive price growth despite a decline in national values not witnessed since the Global Financial Crisis.
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INDUSTRY NEWS
Distressed property sales could increase next year: HTW
The end of many borrowers' fixed-rate loan term in 2023 is expected to present a significant challenge for real estate values, according to a new report.
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INDUSTRY NEWS
New online marketplace looks to match agencies, principals with PropTech startups
A new platform designed to link PropTech startups with agencies and principals seeking to diversify their business or fill a technology gap has launched and is calling for new participants in 2023.
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INDUSTRY NEWS
New Zealand property values decline at GFC levels with further falls predicted
Agents taking stock of Australia's deteriorating market conditions should spare a thought for their Kiwi cousins, with values in New Zealand falling further than predicted in 2022.
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INDUSTRY NEWS
Uptick in property listings during November, PropTrack says
New property listings rose during November, according to a new report, with regional areas witnessing the largest increase.
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INDUSTRY NEWS
Purplebricks ads back to “shouting about” low fees, as UK cost of living crisis bites
UK agency Purplebricks says a decision to revive an advertising campaign targeting real estate agent commission is paying dividends, after blaming a previous change in marketing direction for profit losses.
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