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INDUSTRY NEWS
Rental vacancy rates show slight improvement nationally
Rental vacancy rates eases slightly across the nation in April, with Darwin the only capital city to see a drop in vacancy rates.
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Real Estate News
Rent bidding legislation could prove problematic
Proposed legislation to eliminate “secret rent bidding” is currently before NSW parliament, but the head of the state’s leading real estate industry body fears it could be difficult to manage in practicality.
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SUPPLIER NEWS
REA Group revenue hit by interest rate turbulence; Indian market shines
Interest rate uncertainty and subdued listing numbers have contributed to REA Group posting a decline in third-quarter revenue and earnings.
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INDUSTRY NEWS
Queensland has the nation’s most affordable suburb
Bardon, the leafy, green suburb in western Brisbane has topped a list of the nation’s most affordable suburbs.
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INDUSTRY NEWS
Iconic 1920s bungalow in Sydney’s Tamarama smashes records with $45 million sale
A 1920s brick bungalow in the Sydney suburb of Tamarama that last traded for £9750 in 1959, has sold for what’s believed to be about $45 million.
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INDUSTRY NEWS
Federal Budget doesn’t do enough to address long-term housing shortage
Real estate and housing industry experts have said the Federal Budget looks good on the surface but lacks the depth to address the nation’s long-term housing shortage.
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INDUSTRY NEWS
Rent assistance forms part of first surplus Federal Budget in more than a decade
Cost of living relief has formed the centrepiece of Jim Chalmers’ second Budget in under a year, with the treasurer delivering a surplus for the first time in 15 years.
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APPOINTMENTS
Alison Hancock joins Domain
Domain has appointed human resources executive Alison Hancock as its new Chief People Officer.
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INDUSTRY NEWS
New AI to give agents micro market insights
The Real Estate Institute of Victoria has joined forces with PropTech business PointData in a move that will enable agents to drill down to street level to generate market insights.
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INDUSTRY NEWS
Market downturn sees eXp World Holdings revenue and profits fall
eXp World Holdings, the parent company of virtual real estate brokerage eXp Realty, has announced its financial results for the first quarter of 2023 with significant drops in revenue and profit.
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INDUSTRY NEWS
Redfin joins the AI race – launches chat-based search plugin
The AI race is well and truly on in the US with real estate brokerage Redfin launching a ChatGPT plugin just days after Zillow did the same.
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INDUSTRY NEWS
First-home buyers lead the way as new loan commitments rise
New loan commitments for housing have risen for the first time since early 2022, climbing 4.9 per cent in March, including a substantial 15.8 per cent increase in new owner-occupier first-home buyer loan commitments.
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INDUSTRY NEWS
Remote investing soars, but it could trouble tight rental markets
Remote investing has accelerated for the third year running, despite the easing of Covid restrictions, and it could spell bad news for some of our tightest rental markets.
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INDUSTRY NEWS
Simon Cohen launches seller’s advocacy agency
Could seller’s advocates be the next big thing in real estate?
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INDUSTRY NEWS
Some capital city vacancy rates starting to ease
The nation’s vacancy rate remained at its lowest point on record in April at 0.8 per cent, despite the number of available rentals increasing slightly in five capital cities.
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INDUSTRY NEWS
Perth house prices continue to rise, units stable
Perth’s house market is on the rise, while the city’s unit market has remained stable, according to the latest figures.
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FRANCHISE NEWS
Devine Real Estate joins The Agency
The largest acquisition in The Agency’s history has come to fruition, with Devine Real Estate joining the national network.
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INDUSTRY NEWS
Zillow launches ChatGPT plugin for seamless house hunting.
Buyers will no longer have to fall down the endless scroll hole when searching for a property in the US, with Zillow launching a game-changing plugin that will transform the house hunting experience.
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INDUSTRY NEWS
Technology and digitisation to disrupt 23 per cent of jobs
Almost one-quarter of jobs will be disrupted in the next five years, with technology and digitisation fuelling the fastest growing and declining roles.
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FEATURE INTERVIEWS
May the 4th be with you: What real estate agents can learn from Star Wars
People the world over celebrate Star Wars Day every May 4, with the phrase “May the 4th be with you”, a classic play on the iconic quote “May the force be with you”.
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INDUSTRY NEWS
Interest rates rise for the 11th time in this cycle
The Reserve Bank of Australia has increased interest rates for the 11th time in 12 months, lifting the cash rate 25 basis points to 3.85 per cent.
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INDUSTRY NEWS
Zillow CEO to be questioned in rival’s antitrust lawsuit
Seattle-based real estate platform, REX - Real Estate Exchange, has been granted permission to question Zillow Group Chief Executive officer Rich Barton in the company's antitrust lawsuit against Zillow and the National Association of Realtors (NAR).
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FRANCHISE NEWS
Well-known media identity joins The Agency
Tim Gossage can’t wait to do his first open home.
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INDUSTRY NEWS
Federal Government boosts housing packages ahead of the May Budget
The Federal Government has announced a raft of increases to national housing initiatives ahead of its May 9 Budget, including an additional $2 billion for social and affordable rental housing.
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INDUSTRY NEWS
Australian housing downturn has likely ended with positive growth trend emerging
Three of Australia’s leading real estate data providers have suggested the property market downturn is over.
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INDUSTRY NEWS
Ouwens Casserly wins AREAs Residential Agency of the Year
Transitioning to a shared leadership model forced upon them in difficult circumstances has been credited with Ouwens Casserly taking out the 2022 Annual REA Excellence Award for Residential Agency of the Year.
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INDUSTRY NEWS
Sydney’s Woollahra named most affluent Local Government Area
Waterfront locations dominate the list of Australia’s wealthiest LGAs, with Woollahra topping the list of the most affluent areas.
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INDUSTRY NEWS
REA Group announces all the AREAs winners
Winners in the Annual REA Excellence Awards (AREAs) have been announced with Ouwens Casserly Real Estate taking out the coveted Residential Agency of the Year Award.
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INDUSTRY NEWS
Is the downturn over? House prices on the rise
Australia's property market is showing cautious signs of recovery, with house prices across the combined capitals increasing in the March quarter for the first time in a year.
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FEATURE INTERVIEWS
Elizabeth Newman: hitting the ground running
Elizabeth Newman may have only been in the property management industry for 10 months, but the Best Nest Property Management agent couldn't be happier with her role. Here, Elizabeth explains what she loves about the industry, her goals for the next year and the key piece of advice from a trusted colleague that has stood her in good stead.
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