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Real Estate News
PCA: Proposed fees make Australia “less attractive destination for investment”
Proposed foreign investment rules that introduce a steep new fee for investing in Australian real estate have been slammed by the Property Council of Australia's Chief Executive Ken Morrison.
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OPINION
Foreign real estate investors tipped to favour Australia over UK and US
“Australia’s reputation has been buffed and shined to a new level of polish.” Australia’s Foreign Investment Review Board has released data on foreign buyer transactions in 2018-19 that reveals where foreign investors buy residential real estate, and what types of properties they prefer.Insights into foreign purchases and sales of residential real estate 2018-19 shows that during FY19, the total number…
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Elite Agent
REIWA declares ‘rental crisis’ as Perth vacancy rate hits 13-year low
Perth's residential vacancy rate has fallen to 0.96 per cent, the lowest it has been in 13 years.
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Elite Agent
How to use the new government incentives to train a real estate agent
Among the many incentives announced during the Federal Budget earlier this month, one that may have been easy to overlook was the poorly-named Boosting Apprenticeship Commencements.
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Elite Agent
Reserve Bank notes increased housing activity, despite weak investment levels
On October 6, the same day as the Federal Budget was announced, the Reserve Bank Board met and decided not to change the cash rate.
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Real Estate News
Victoria ‘well-placed’ to further ease restrictions
During a press conference this morning, Daniel Andrews said Victoria was "well placed" to receive some very significant announcements about further easing of restrictions.
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Elite Agent
Melbourne’s real estate industry reacts to relaxed restrictions
Spring selling season may have gotten off to a slow start in Melbourne, but the announcement over the weekend that real estate auctions can now occur with a maximum of ten people should help spur it into action.
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Real Estate News
WA’s social housing plan to alleviate rental crisis
A ten-year plan to create 2,600 affordable houses across Western Australia will hopefully ease the "rental crisis" that the state looks likely to experience.
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Elite Agent
REA Group celebrates ‘excellent results’ in annual report
REA Group have delivered an annual shareholders report that celebrates a number of wins in what Chairman Hamish McLennan calls "unprecedented market conditions."
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Real Estate News
Perth houses selling twice as quickly as last year
As yesterday's ANZ/Property Council survey showed, Western Australia's property industry is the most positive in the country, and with very good reason.
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Real Estate News
Cash rate won’t rise for three years: RBA
"We do not expect to be increasing the cash rate for at least three years."
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Elite Agent
Repayments have begun on almost half of deferred loans
Australian Banking Association has announced that repayments have resumed on 45 per cent of deferred loans for mortgages and small businesses.
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Elite Agent
Property confidence rises in SA but plummets in ACT
The latest ANZ/Property Council Survey has shown that as South Australia's property industry continues to gain confidence, the ACT industry's confidence levels have plummeted.
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Elite Agent
WA property industry the most positive in Australia
The WA property industry has the most positive outlook in Australia according to the ANZ/Property Council survey for the December 2020 quarter. Overall sentiment increased to 107 index points for the quarter, a 25 point increase on the previous period. This was the largest quarterly increase in sentiment for any…
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Elite Agent
Both NSW and QLD need to revitalise their CBDs
The latest results from the ANZ/Property Council Survey show that, while confidence levels in the real estate industry have risen in both Queensland and New South Wales, ghostly city centres in both states are continuing to cause concern.
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Elite Agent
Rob Lowe sells stunning Montecito mansion for $63.4m
To quote his character from Parks and Recreation, Rob Lowe is, literally, on top of the world right now. After two years on the market Rob and wife Sheryl Lowe have managed to sell their Rob and Sheryl Lowe have shown that patience is not only a virtue, but often…
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Elite Agent
New Zealand sees flood of first home buyers over September quarter
First Home Buyers made up a quarter of the total property purchases in New Zealand during the September quarter, according to figures from CoreLogic.
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Elite Agent
Commercial real estate sales down 58 per cent in 2020
Commercial real estate sales plummeted during the first nine months of 2020.
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Elite Agent
Zillow moves further into residential real estate with new Homes division
The world's largest real estate listings company Zillow are planning a larger move into the residential real estate space, although they insist they will not be poaching agents from other businesses.
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Real Estate News
Landmark judgement in favour of pets in apartments
The NSW Court of Appeals has delivered a landmark decision, rejecting an attempt by an owners corporation to ban animals in Sydney’s Horizon building. The unanimous decision by three Court of Appeal judges found The Horizon’s blanket rule banning pets is a breach of legislation. “This decision effectively changes the way owner’s corporations can govern their strata schemes,” Sharon Levy…
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Elite Agent
Minister for Housing assures REIA of ‘resilient’ property market at roundtable
Minister for Housing, Michael Sukkar, joined the members of the Real Estate Institute of Australia for a virtual Budget 2020 Real Estate Roundtable, during which he detailed the positive impact the Budget will hopefully have on the property sector.
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Elite Agent
John Lennon’s ‘lost weekend’ NYC penthouse for sale
The magnificent Manhattan penthouse that John Lennon lived in during his 18-month period of estrangement from Yoko Ono, later referred to by Lennon as his 'lost weekend', is up for sale, with a market guide of $5.5 million.
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Elite Agent
Is housing supply driven solely by demand? New research sheds light
New Australian Housing and Urban Research Institute (AHURI) research reveals what many of us assumed, that housing supply across Australia is uneven. The uneven distribution of housing supply 2006-2016 was authored by academics at The University of Sydney, Curtin University, and The University of Adelaide, and delves into both the…
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Real Estate News
REIV auction competitions to go ahead, despite lockdown
It takes more than a pesky pandemic and Stage 4 lockdowns to stop the REIV Auction Competitions from proceeding in 2020. This year, Victorian auctioneers will battle it out online, an apt representation of how the industry has operated throughout the year. "The Victorian Real Estate sector revealed its strength…
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Real Estate News
Strong industry support for Federal Opposition’s property plan
Both the Master Builders Australia and the Property Council of Australia have welcomed the Federal Opposition's plan to rebuild the economy, as outlined in Anthony Albanese's Budget Reply Speech. "A strong pipeline of building and construction work is vital to building our way of out recession and we acknowledge the…
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Real Estate News
Queensland teams with Mirvac and Frasers for build-to-rent project
The Queensland Government have announced partnerships with two developers for their Build-to-Rent Pilot Project. Frasers Property and Mirvac will work with the Government to deliver affordable key-worker housing options to the inner-city. Under the Pilot Project agreement, Frasers Property will develop 354 apartments on a 2,020 sqm site in Fortitude…
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Real Estate News
RBA holds cash rate at 0.25%
Many predicted that the RBA Board would be announcing a drop in the cash rate to 0.1 per cent today, despite the news potentially overshadowing the Federal Budget announcement.
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Elite Agent
First Home Loan Deposit Scheme is flawed: REIA
Changes to the Australian Government's First Home Loan Deposit Scheme that allocate 10,000 new grants only to those who purchase new or newly-built homes ignore the reality of the market, according to REIA.
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Real Estate News
Queensland’s tourism towns are mortgage holiday hotspots
With Queensland tightly locked down during the pandemic, the only holidays taking place in the Sunshine State were mortgage holidays.
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Real Estate News
Byron Bay price record smashed again
A sprawling property on Wategos Beach was on the market for less than a week before breaking the area's price record, netting a price just shy of $22 million.
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FRANCHISE NEWS
Mirvac ramps up build-to-rent projects
Mirvac are betting on the build-to-rent market in a big way, with plans to develop and manage 5,000 build-to-rent apartments across Australia within the next five years.
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Elite Agent
Melbourne and Sydney drag down an otherwise strong September
September saw an impressive turnaround for housing sentiment across six of the eight capital cities, with an increase in home values, a rise in new listings, and consumer confidence back where it should be.
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Real Estate News
JobMaker Digital Business Plan simplifies paperless transactions
The announcement this week of the Federal Government's JobMaker Digital Business Plan has been welcomed by REIA President Adrian Kelly, who believes the small amendments, including the formalisation of electronic documents in real estate transactions, will lead to a simplification of the industry. “The amendments required, whilst simple, will improve…
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Real Estate News
ACM and realestateview.com.au launch JV
Australian Community Media has teamed up with realestateview.com.au to form a new join venture, in which they will collectively invest over $100 million over the next five years.
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Elite Agent
Perth rental listings hit eight-year low
Rental listings in Perth continued to drop in September.
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