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INDUSTRY NEWS
Housing affordability crisis cause by a broken system, experts say
New South Wales (NSW) opposition party’s Labor claim that foreign nationals have purchased up to 11 percent of properties from July to September last year does not hold water and is a distraction from the real need to find proper solutions on housing affordability within the state. Property Council NSW executive director Jane Fitzgerald said residential land related transfer duty…
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Real Estate News
The REA Group AREAs announces a new award for 2017
This year’s REA group Annual REA Excellence awards (AREAs) has a brand new award being introduced this year – Gold AREA – agency of the year award. The agency of the year award will recognise agencies who work hard to set themselves apart from competitors and excel in all three award categories. The AREAs will also honour the most innovative,…
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EPM
Airbnb vague about its plans on long-term leasing
Airbnb has no immediate plans to offer long-term rentals just yet after a Bloomberg report said it was conducting due diligence on the matter in hopes of providing the service to the market soon. In a statement to Elite Agent on Friday, an Airbnb spokesperson said: “Examining different parts of the market is standard operating procedure, and we don’t have…
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INDUSTRY NEWS
Too little supply and ample demand is the main reason why rentals are hard to find:REINSW
Residential vacancy rates have slipped across the Sydney market with many finding it more difficult to secure a rental accommodation, the Real Estate Institute of New South Wales (REINSW) has said. It’s president John Cunningham said the REINSW vacancy rate survey in February saw the Sydney metropolitan market down 0.2 percent to 1.9 percent. “Inner Sydney led the fall in…
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INDUSTRY NEWS
Infrastructure boom will reduce Sydney’s “door-to-desk” times, predicts Raine & Horne
With tens of billions of investment dollars making NSW a world leader in infrastructure, faster commutes are set to boost property values, and quality of life, Raine & Horne, executive chairman Angus Raine said. “Major infrastructure projects such as the Sydney Metro Northwest, WestConnex, NorthConnex and the upgrades to the Princes Highway on the NSW south coast are set to…
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Real Estate News
Rent.com.au’s property listings now showcasing NBN status
Australia’s specialist website for rental property, Rent.com.au has started showing NBN status for its listings. Rent’s chief executive Greg Bader said that including the current NBN status for each property listing was in response to demand from renters. “Our customers have been asking for this. While NBN information is already available via the NBN website, it is a cumbersome process,…
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INDUSTRY NEWS
Investors Still Keen In Buying Properties In Australia says Momentum Wealth
Despite concerns over potential property price bubbles, oversupply issues and cyclical downturns, Australian property investors remain bullish with one in two investors aiming to grow their portfolios in the next few months. A national survey of 444 property investors by property investment consultancy Momentum Wealth found that 53 percent of respondents said their primary goal right now was to either…
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Real Estate News
From receptionist to principal: how Kate Handley rose through the ranks
It has been an illustrious career run for Kate Handley of Ray White Waterford, Queensland since she first started out in the real estate industry 12 years ago. From humble beginnings as a receptionist at Ray White Marsden, it was Handley’s willingness to work for free during the weekends “just to gain experience” was what helped her to propel to…
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INDUSTRY NEWS
Residential zones changes a step in the right direction: HIA
The Victorian Government’s plans to change some requirements of the residential zones will improve housing outcomes in its suburbs said the Housing Industry Association (HIA). HIA’s acting executive director Keith Banks said the state government’s recent announcement on amending the residential zones has been seen as a logical starting point to improve residential outcomes. In the past HIA has argued…
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INDUSTRY NEWS
REIA: Property prices reflect state economies
The median house price across Australian capital cities has risen by 4.1 percent for houses and 2.1 percent for other dwellings, the latest research by the Real Estate Institute of Australia (REIA) has found. The REIA Real Estate Market Facts for the December quarter last year saw the average median house price for the eight capital cities at $743,496. REIA president…
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INDUSTRY NEWS
REIWA wants Labor to do more in addressing housing affordability in the state
The Real Estate Institute of Western Australia (REIWA) hopes the new Western Australian Labor-led government would look at more ways of addressing housing affordability. REIWA President Hayden Groves said it is important in particular for Labor to address the barrier state property taxes, like transfer duty and land tax aggregation rules, have on the buying and investing decisions of the…
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INDUSTRY NEWS
Brisbane’s new dwellings has hit a high of $655k: REIQ
Brisbane’s new median house prices have hit a new high of $655,000, said the Real Estate Institute of Queensland (REIQ). REIQ’s Queensland Market Monitor: December 2016 quarter report showed that the sunshine state’s housing market had shown moderate growth throughout last year, with a final quarter revealing a strong result for houses in the south-east corner with weaker demand for…
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Real Estate News
HIA is happy that Federal Gov is doing more to help first home buyers
The Housing Industry Association (HIA) has thrown its support behind the Turnbull Government’s to focus on first home buyer access and reducing the costs of new housing supply. Treasurer Scott Morrison is currently in London, looking to find ways to open up our housing market to more people and help solve the crisis in some of our cities, taking the…
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Real Estate News
RBA may further curb foreign lending towards overseas investors
There is a possibility that the RBA could take further macro-prudential measures in stifling lending towards foreign investors in order to give more locals the much-needed break into its own housing market, particularly on the east coast of Australia. Referencing the 2014 macroprudential measures which included cap on investor lending growth and more prescriptive loan serviceability guidelines, Assistant RBA Governer…
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Real Estate News
Ray White Feb results rises by four percent to $3.44B compared to same month last year
Ray White Group’s total sales of dwellings for this February has risen by four percent or $3.44 billion as compared to the same corresponding month last year. Ray White chairman Brian White AO in a statement said the company’s franchise in New South Wales (NSW) and Victoria achieved the best for performance in February, reaching $1.13 billion and $526 million…
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Real Estate News
REIA Launches Course For Agents Providing Financial Advice
The Real Estate Institute of Australia (REIA) has partnered with the Institute of Public Accountants (IPA) and launched a new training course for real estate agents providing advice on properties as an investment. REIA president Malcolm Gunning said the RG146 Advice for Real Estate course by IPA would be made available immediately through Mentor Education, a training company based out…
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Real Estate News
Keiren Cooney appointed as REA Group first ever CMO
REA Group has appointed Kieren Cooney as its chief marketing officer (CMO) in this newly created role. Cooney joins REA Group armed with more than 20 years experience in various senior marketing and telecommunications roles which includes the former chief executive of Omnicom Interbrand. Before Omnicom, Cooney has also held CMO positions with NBN Co and Telecom New Zealand. His…
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FRANCHISE NEWS
Harcourts Victoria Nominated in the Innovation Category for REIA’s National Awards
Harcourts Victoria was chosen as one of the contenders in the innovation space for the Real Estate Institute of Australia (REIA) National Awards for Excellence held in Canberra on March 23. The group is no stranger to such awards as it bagged a similar one at the Real Estate Institute Victoria awards for excellence in innovation last year. Harcourts head…
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FRANCHISE NEWS
RE/MAX agents making top sales
RE/MAX agent Tyler Bean made the top ten Brisbane sales list recently with a home in Charteris Street, Paddington, selling for $1.6million. The contemporary home over three levels, with a pool and views, sold under the hammer on 25th February. The median price for a four-bedroom Paddington home is $1.15 million. “The beautiful views were a definite selling point, and…
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Real Estate News
Ray White agent competing in Half-Ironman World Championships in the US this September
One of Ray White’s newest recruits will be representing Australia in the Half-Ironman world championships in Tennessee, the US this September. Right now, Shaun O’Callaghan, 23 keeps his full-time role as Brett Pilgrim’s buyers agent of Ray White Adelaide, while at the same time committing to a gruelling 25-hour-a-week training schedule. “I train twice a day most days, for around 90…
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Real Estate News
Henry Ruiz appointed as Interim CEO for REA Group Asia
REA Group has announced that it has appointed Henry Ruiz as its new Interim CEO for REA Group Asia effective immediately. Ruiz, who is currently REA Group’s chief digital officer, will oversee the group’s Asia business including iProperty Group across Southeast Asia and its Chinese property site Myfun.com, the company told ASX on Friday. Ruiz will continue to report to…
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INDUSTRY NEWS
New home building activity to move back a notch Australia-wide this year
New home building activity in Australia is forecasted to move back a gear in this year from the record highs seen in the past 12 months, said Housing Industry Association latest national outlook report which was released yesterday. “New dwelling starts hit an all-time high of 228,230 during the year – the culmination of the longest housing upturn since the…
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INDUSTRY NEWS
Housing Bubble Speculation Unwarranted: Ray Ellis
First National Real Estate which comprises one of the country’s largest networks of independent agents believes constant media speculation about the risk of a housing bubble is based on overseas analysis that fails to account for the country’s unique circumstances. “The Organisation for Economic Cooperation and Development’s (OECD) recent assertion that Australian house prices may represent a threat to the…
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INDUSTRY NEWS
New home loans down in Jan: HIA
Loans for new homes have contracted in January affecting the overall lending activity among interested purchasers, according to the Housing Industry Association (HIA). Figures released on Friday by the Australian Bureau of Statistics indicate that the volume of loans for new homes eased back during January, HIA senior economist Shane Garrett said. “Despite the reduction during January, the actual volume…
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Real Estate News
Why Social Media Should Now Be Considered Traditional Media: Anders Sörman-Nilsson
Forty-eight percent of small businesses and 79 percent of large companies have turned to social media to promote their brand and business to the world. TEDx speaker and author of Seamless “A Hero’s Journey of Digital Disruption, Adaptation and Human Transformation” Anders Sörman-Nilsson said companies without a social media presence were expected to add at least one platform in the…
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Real Estate News
Husband and wife duo opens another Raine & Horne branch in Sydney’s Botany
Two of Raine & Horne long term employees have decided to capitalise on the franchise’s aggressive expansion plans by opening an office of their own in Botany on March 6. Paul Kosta who had worked for the company for the past 15 years at Raine & Horne Maroubra while his wife Olivia spend 10 years in the property management sector…
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Two Young Guns Appointed Into Top Positions at Allard Shelton
Melbourne-based commercial real estate firm, Allard Shelton has appointed James Gregson and Michael Ryan as its executive director effective immediately. They will join Allard Shelton from Fitzroys, bringing with them more than 13 and 15 years’ experience, respectively in the commercial property space. Allard Shelton director, Joseph Walton, said the appointments were part of an effort undertaken by the company…
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INDUSTRY NEWS
Raine & Horne expands to Riverwood, New South Wales
As part of its continued expansion in Sydney’s South, Raine & Horne has opened a new office at Riverwood. The new office will be led by Gary Singh, who has recently rebranded his three year business Goldstarr Property Group into the 134- year old real estate franchise for ease of business. “Raine & Horne is high in the South West,…
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INDUSTRY NEWS
Master Builders appoints its first ever female CEO
The board of Master Builders Australia has broken its 127-year-old tradition and hired Denita Wawn as its first female CEO and chose to make the announcement on International Women’s Day held on Wednesday. Wawn whose appointment takes effect on March 20 will represent the interest of $200 billion building and construction industry and is only the third CEO for the association…
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Real Estate News
REIA’s Awards finalists revealed
The Real Estate Institute of Australia (REIA) has released the names of finalists for its awards night do which will be held at Hyatt Hotel in Canberra on March 23. REIA president Malcolm Gunning in a statement said the National Awards for Excellence 2017 would showcase Australia’s most outstanding performers in the profession, adding that the winners will be announced via…
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INDUSTRY NEWS
Property Guru may consider to list in Australia, says its CEO
Singapore-headquartered Property Guru, one of Southeast Asia’s renowned property website may consider a stock listing in Australia next year, its chief said. In an interview with Bloomberg in Singapore last week, the portal’s CEO Hari Krishnan said the company which was backed by TPG Capital, an American investment company was on track in turning a profit this year as after…
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INDUSTRY NEWS
REIA: Affordability Declines Despite Historically Low-Interest Rates
Housing affordability has been reduced across all Australian states in the December quarter of last year, with New South Wales (NSW) remaining the least affordable state for homebuyers, according to the Real Estate Institute of Australia (REIA). The latest Adelaide Bank/REIA Housing Affordability report saw the proportion of income required to meet loan repayments rise to 30.4 percent, an increase…
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Real Estate News
REIWA: February Sales Activity Increases In Perth
Sales activity in the Perth metro region rose in February, with the Real Estate Institute of Western Australia (REIWA) data showing that volumes were up by eight percent compared to January. REIWA president Hayden Groves said the improve activity in February was welcoming after the traditional lull between the Christmas and New Year holiday period. “It’s good to see buyers…
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Real Estate News
Building approvals rises in January says HIA
The Australian Bureau of Statistics (ABS) data has recorded a growth in the number of building approval in January, the Housing Industry Association (HIA) said. HIA Senior Economist Shane Garrett said the total dwelling approvals rose by 1.8 percent in January due to robust activity recorded on the multiunit side and resulting in a 6.6 percent expansion in multi-unit dwelling…
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Real Estate News
REIA: Renters Forgotten Victims of Negative Gearing Reforms
Changes to negative gearing policy would drive up rents and affect the most vulnerable people in the community, according to the Real Estate Institute of Australia (REIA). REIA president Malcolm Gunning said political gamesmanship had seen the plight of first homebuyers, low-income earners and other renters forgotten in the debate around reforms to negative gearing. “One of the primary beneficiaries…
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