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Real Estate News
QLD Treasurer Rejects REIQ Proposal to Broaden the First Home Buyer Scheme
The Real Estate Institute of Queensland (REIQ) has publicly recorded its disappointment in the State Government that they would not be broadening their first buyer home grant to established homes. REIQ chief Antonia Mercorella said this was evidence that the State Government was not listening to the needs of regional Queenslanders. “However, our concern is for the long-term impact and…
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Real Estate News
New Property Agents and Land Transactions Bill banks on industry’s insights
More than 450 real estate agents, property consultants, assistant property managers, conveyancers and lawyers met earlier this week to discuss the sweeping changes brought on by a revised bill replacing the current Property Agents and Land Transactions (2005) Act, enforced in April. Real Estate Institute of Tasmania (REIT) chief executive Mark Berry said the new bill passed on Nov 17…
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INDUSTRY NEWS
ASX-listed buyMyplace wants to hire 100 real estate agents by year end
ASX-listed buyMyplace.com.au is on the lookout for 100 experienced real estate agents nationwide for a new section of its business which is similar to UK’s Purplebricks. The Melbourne-based company said the new hires would be used to sell properties listed on the website by vendors through a flat fee commission-based system. Melbourne-based buyMyplace executive director Cameron Fisher who will assume…
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INDUSTRY NEWS
The Agency Expansion Plans: Word of Mouth, Experienced Agents Only
Word of mouth. That is how “The Agency” say they are getting top agents in the Sydney real estate industry to join in their 18-month-old setup. Despite being fairly new on the eastern seaboard, many high profile agents in the business have been recruited by the Perth-based and ASX-listed Ausnet Financial Services for its new Sydney office, located at the…
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INDUSTRY NEWS
NZ Based Leaders Real Estate Group Rebrands To Ray White
In what is considered to be one of the major changes in the real estate industry across New Zealand, renowned agency local company in the local north island Leaders Real Estate Group is currently undergoing a rebranding to Ray White. The Leaders Group 15 offices placed across Wellington, Kapiti Mana, Horowhenua, Hutt Valley, Wairarapa, and the Hawkes Bay. The group…
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INDUSTRY NEWS
Core Logic: Strong Start To The Year As Dwellings Value Rise In Most Aussie states
The latest CoreLogic January index results have confirmed that all capital cities recorded a rise in home values, with Hobart in the lead, recording a 5.8 percent rise in dwelling values over the three months to the end of January – with Sydney and Melbourne also posting strong increases over the rolling quarter. Highlights over the three months to January…
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INDUSTRY NEWS
Perth company to charge a set fee of $355 a month for high-end rental properties
A newly formed property management company based in Perth has established a flat rate model, charging its clients a set fee of $355 a month including GST to manage their properties. C-Vue Property Managers managing director Honor Borg told Elite Agent her company would be focusing on properties that were let out for $500 or more per week to help…
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EPM
Airbnb finally makes a profit
Home-rental marketplace Airbnb has finally turned its first profit since commencing operations in 2008. The home-rental company became profitable for the first time in the second half of 2016, a source close to the company told technology website CNET. Airbnb’s revenue grew more than 80 percent over last year, and the company is expected to continue to be profitable throughout…
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Real Estate News
Mobile messaging apps, the new frontier in real estate selling
More real-estate agents are starting to rely on social media apps as a way to help buyers who cannot take time off and be present in purchasing properties the traditional way. Owing to work commitments and other unforeseen circumstances, a small number of agents have found success in selling properties purely by using social media apps such as Facetime, WhatsApp…
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Real Estate News
Raine & Horne expands to Sydney’s Turramurra with new office
In a bid to capitalise on the strong Sydney’s north shore real estate market, leading agency, Raine & Horne will open a new office at Turramurra, situated at the corner of Pacific Highway and Kissing Point Road, on February 1. The new set-up comes after the franchise had launched offices in nearby suburbs such as Hornsby, Lindfield, North Sydney, Crows…
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INDUSTRY NEWS
Home formerly owned by late Aussie businessman Rene Rivkin up for sale
A Hawkesbury River-fronted property built by the late Australian entrepreneur Rene Rivkin 20 years ago, and extensively renovated by the current owner, will go to auction with price expectations above $5 million. Built with whole Australian Cypress logs grown in NSW, the property sits on 10 acres which it shares with Sentry Rock, the landmark believed to be used by…
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QLD Real Estate News
Brisbane real estate agency sells $3.06 million worth of property in a day
The market in Brisbane appears to have already warmed up this year, as Explore property last weekend achieve a personal record of 180 people in their open homes resulting in $3.06 million of sales in one day. Explore Property Ashgrove principal Kelly Qualtrough who runs her business with her partner Sean Wallis told Elite Agent that it was the first…
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Elite Agent
Memo to the property industry: Get Ready for ‘Golden Week’ starting Jan 28
Despite the restrictions, there is still interest among the Chinese buyers wanting to purchase properties in Australia and most do so during Lunar New Year holiday period which starts from January 28. The celebration also marks the start of the period known as Chinese Lunar New Year Golden Week where Chinese workers often take holidays and head overseas some for…
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EPM
Virtual reality live-streaming the next best thing for property management?
Virtual Reality (VR) live streaming has helped one Melbourne-based property management company to achieve zero vacancy rates since switching to the technology over a year. Neesh Property managing director Michael Sanz describe the change as phenomenal for his business and wants to teach other agents on how to use the technology and achieve the same results. “Twelve months I bought…
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INDUSTRY NEWS
ASX-listed disruptor realtor buyMyplace records exponential Q2 revenue
ASX-listed buyMyplace, a commission-free real estate agency has recorded a strong second quarter by clocking in 147 percent in revenue earnings for the 2017 financial year ending in June from the prior corresponding period (PCP). The Melbourne-based online real-estate company’s gross profit rose by 117 percent while residential property listings on the website grew by 84 percent from the previous…
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INDUSTRY NEWS
Purplebricks may fail in Australia too, says First National Real Estate chief
The head of one of Australia’s largest networks believes that the arrival of Purplebricks in Australia has failed to ignite consumer interest and that the company is on track to replicate the significant losses incurred on its home soil. “Since its August 2016 launch, when more than a quarter of a million properties were listed for sale with Australian agents,…
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FRANCHISE NEWS
Barry Plant Group throws its support behind Women’s Property Initiatives
The Barry Plant Group has rendered its support in helping bolster more funds towards Property Initiatives Real Estate, a social enterprise run by the Women’s Property Initiatives (WPI) in Melbourne. Barry Plant Group said the collaboration will see WPI’s social enterprise benefitting from its professional services which include running a better-managed rent roll and achieving maximum profitability through the advice given…
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INDUSTRY NEWS
New NSW Premier to prioritise housing affordability, industry reacts
Just hours after being elected as New South Wales (NSW) 45th Premier, Gladys Berejiklian has vowed to address the much-touted housing affordability crisis and has made that her top priority while in government. “I want to make sure that every average, hard-working person in this state can aspire to own their own home,” Berejiklian told a media conference after being…
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Elite Agent
Increase to First Home Owner’s Grant and New Mine for WA: Hope for property market
WA’s State Government announced a $5.6 billion iron ore mine for the Pilbara Region, and combined with an increase in the First Home Buyer’s Grant, bringing the grant to $15,000, WA’s property market may have just the stimulus it needs to strengthen again. Perth-based Nicheliving, a real estate and property management company director Ronnie Elhaj said the $15,000 grant…
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Brand Editorial
Rent.com.au launches an industry-first performance-based plan
In an industry ground-breaking move, Rent.com.au has launched their new product Smart Plan – a model to help maximise the advertising of your client’s rental properties, with zero risk, on Australia’s #1 website dedicated to rental property. Under Rent.com.au’s revolutionary ‘leased or free’ model (the Smart Plan), you can list your rental properties with the biggest ads on Rent.com.au with no upfront costs. Best…
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Elite Agent
New homes sales record growths in all states except NSW
Sales of new homes and apartments have risen in November, said the Housing Industry Association (HIA) said in its latest report released on Friday. HIA’s new homes sales report which consists a survey of Australia’s largest home builders – shows a high bounce in November with sales of newly detached homes increasing by 5.2 percent, while sales of multi-units were…
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INDUSTRY NEWS
New research says Brisbane’s property market a haven for investors
A new report has found that Brisbane’s affordability and strong rental yields were likely to attract more demand from local and interstate investors this year. Brisbane’s affordability in comparison to states like Melbourne and Sydney, was one of the many factors that made the city so attractive in the eyes of investors said the report entitled: Property Market Spotlight: Brisbane.…
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INDUSTRY NEWS
Australia’s home building activities to soar this year: Master Builders
Australia’s 2017 home building activities will go down as one of the best performing years in history with the peak likely to come before the end of the financial term, said Master Builders of Australia’s National Manager for Housing Matthew Pollock. “This would leave the possibility for a softer landing later down the track, with housing finance commitments and building…
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Real Estate News
Shift to higher density living fuels market growth but renews concerns of glut
Lending approvals are up; New dwellings are up; High-density commitments are up. While there is no doubt that multi-unit construction remains the strongest performing sector of the industry over the past five years, there is continued speculation that the demand will not be sustainable. The Australian Bureau of Statistics (ABS) figures published on Tuesday reports that mortgage lending among investors in November had risen…
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INDUSTRY NEWS
Single home ownership among women has fallen, says ME Bank
More singles, especially women, are being squeezed out from home ownership, an analysis by super fund-owned ME Bank has revealed. The number of individual home loan applicants put forth with the bank had fallen by 9 points to 35 percent out of all loans over the past two years with home loan applications produced by women falling by 14 points…
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Real Estate News
St George says Australians should be resolved to saving
New research commissioned by St George Bank in December had found that Aussies were a worried lot when it came to money matters and had put in plans to save more this year for an overseas trip and to buy a home. The research found that 70 per cent of the respondents interviewed by the bank had concerns for the…
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INDUSTRY NEWS
NAB raises its fixed home loans interest rates, follows in on rivals
One of Australia’s largest lenders, the National Bank of Australia (NAB) has raised the interest rates on several of its fixed-rate home loans, following its rivals. In a statement on Monday, the bank said its second, third and fourth-year package fixed rate for home loans would increase effective today, to 3.98 percent, 4.09percent, and 4.59 percent per annum respectively. While…
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Real Estate News
Purplebricks opens offices in Sydney and Central Coast, plans expansion to Perth and Adelaide soon
Purplebricks has just opened up new offices in Sydney and the Central Coast, with plans underway to expand into Perth and Adelaide as well. The company’s latest set up in New South Wales (NSW) comes just four months after it opened offices in Brisbane, Melbourne, the Gold Coast and the Sunshine Coast. Established in the UK in 2014, Purplebricks has…
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Elite Agent
Airbnb ventures into restaurant booking app Resy.com
New York-based Resy.com has just received a fresh round of funding worth $13 million from global accommodation portal Airbnb along with the participation of First Data Corporation, RSE Ventures, and Lerer Hippeau Ventures, technology website VentureBeat reports. Founded in 2014, Resy.com, is a restaurant booking platform which offers a consumer-focused mobile app that allows travellers to book tables at great…
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INDUSTRY NEWS
RBA may not lower the cash rate any further : RateCity.com.au
A growing number of economic indicators have suggested that the Reserve Bank of Australia’s (RBA) historically low cash rate of 1.5 percent would not go down any lower. Peter Arnold, data insights director at RateCity.com.au said banks were beginning to hike their home loan rates with close to two-thirds of lenders increasing rates on fixed loans and a smaller number lifting…
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INDUSTRY NEWS
Sydney and Melbourne records lower sales this year: REA
Highlights of REA Group Property Demand Index Report for December 2016: National demand for property dropped by 6.6 percent on realestate.com.au in December, down from peak levels recorded in October and November. Victoria had the largest decline over the month, as demands dip for both houses and apartments. New South Wales (NSW) followed closely, possibly suggesting that the housing boom…
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Real Estate News
Queensland’s property market set to soar in 2017 say Raine & Horne
Queensland’s real estate markets are all set to enjoy a healthy year with significant infrastructure investments, greater affordability and lower interest rates making it an attractive buy, said leading real estate group, Raine & Horne. Investments such as the $21 billion Adani Carmichael coal mine, the $3 billion Queen’s Wharf, Westfield’s $1 billion development at Coomera and the $200 million…
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INDUSTRY NEWS
NSW property industry rings in the new year with a bang
The NSW property industry is expected to have a positive outlook this year with higher expectations for growth, investments and hiring taking place across the state, said the latest ANZ/Property Council survey. “NSW industry confidence leads the nation at 149 index points, up from 142 last quarter and is at near six-year highs. Over the twelve months to March 2017,…
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Elite Agent
CES 2017 top 10 must have tech gadgets
CES (The Consumer Electronics Show) 2017 ended with a bang this year as it marked its 50th anniversary as the world’s leading innovation and technology event. Here are some of the innovations that you might be hearing about and some that are likely coming soon to a listing near you. The expo has showcased close to 700,000 products since its…
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INDUSTRY NEWS
REA Group to buy stake India’s PropTiger and Housing.com
REA Group have agreed to buy a 14.7 per cent stake in Indian online real estate marketing group PropTiger for $67.9 million. PropTiger.com and Housing.com, two of India’s leading online real estate service providers, in a seperate announcement said the investment will enable it to become India’s largest online real estate services company in the near future. Under the agreement,…
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