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Elite Agent
Sophie Monk’s Gold Coast mansion up for rent
If you’re looking for a swanky bachelorette pad, or simply somewhere to watch The Bachelorette in style, Sophie Monk’s Gold Coast mansion can be yours to rent for $1200 a week. The five-bedroom, three-bathroom home sits on 4,000 square metres of land, and boasts an in-ground pool, ocean access, a boat ramp (and boat storage area) and even a jetty…
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Elite Agent
The new normal? Office blocks with touch-less entry
The technology wasn't developed for COVID-19. It had been in the pipeline for quite some time. But The Gateway building on Macquarie Street in Sydney is the country's first office tower to implement hand-scanning technology, allowing workers to enter without touching a thing. The Gateway building at Sydney’s Circular Quay has become the country’s first…
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Real Estate News
REIA welcomes loan deferral extension
REIA has welcomed the Australian Banking Association’s decision to extend the loan repayment deferral period. “Supporting home owners during this phase where they may be finding it difficult to continue paying their mortgage, is to be applauded,” said REIA president Adrian Kelly. “If owners and landlords are supported, then tenants, some of who are from the most affected industries through…
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Elite Agent
Rentals see biggest price drop in over 15 years
Rental prices have plummeted nationwide, with unit rentals experiencing their biggest price drop in over 15 years, according to new figures released by Domain that show a historic fall of 3.2 per cent over the June quarter. “The rental market has become highly fragmented in recent months,” Domain Senior Research Analyst, Dr Nicola Powell said. “Rental prices fell across most…
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Elite Agent
Tasmania first state to accept HomeBuilder applications
The Treasury has announced that, despite some initial hesitations, every Australian state and territory are now signatories to the HomeBuilder scheme. Tasmania is already accepting applications, becoming the first state to do so. ACT will provide information on how to apply next Monday, while QLD has promised information “shortly”. Other states are expected to follow suit. The $25,000 grant has…
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Elite Agent
REIV: Melbourne is prepared for new COVID restrictions
As Melbourne returns to stage three lockdown, local real estate agencies are feeling a sense of deja vu – which, luckily, makes them well prepared to deal with the recent shift in fortunes. “Real estate in Melbourne and Mitchell Shire will continue to service the community with online inspections returning along with online auctions,” REIV President Leah Calnan said. Inspections…
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Real Estate News
US billionaire eyes investment in LJ Hooker
US billionaire Michael Fuchs has his sights on the Australian market, with plans to inject $35 million equity into LJ Hooker. In 1991, New York-based Mr Fuchs and a childhood friend foundered RFR Holdings, a real estate portfolio now worth north of $20 billion. Their assets include the Seagram Building, the Chrysler Building, and Hotel Paramount in Manhattan, Dexter Station…
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Real Estate News
Aussie cricket legend Steve Smith buys $6.6m Sydney property
Australian cricketer Steve Smith has added a luxurious Vaucluse pad to his bulging property portfolio. The former Australian captain paid $6.6 million for the six bathroom, four-bedroom property, which was initially listed for $6.8m. The beautiful property boasts views of Sydney Harbour, a large pool and cricket-friendly yard, a steam room and gym, a spacious wine cellar (plus an outdoor…
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Real Estate News
Finalists announced for REINSW 2020 Awards for Excellence
The Real Estate Institute of New South Wales has announced the finalists for its annual Awards for Excellence – the most prestigious awards night on the NSW real estate calendar. As REINSW President, Leanne Pilkington explains, it will take more than a worldwide pandemic to still this year’s awards. “We have been astonished by the number of entrants into the…
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Real Estate News
COVID-19 impacts Queenstown, while NZ market activity returns to normal
Today's QV House Price Index (HPI) figures from CoreLogic have shown that COVID-19 has impacted property values to a mild degree, although nowhere near rates shown in Australia.Nationwide property values dropped 0.2%, with four of the six maincentres showing declines. Interestingly, Tauranga and Christchurch increased at the same rate as the national drop, rising 0.2%.…
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Real Estate News
RBA Governor Philip Lowe issues July statement
SPOILER: No alarms and no surprises from the RBA. Philip Lowe’s statement is below. At its meeting today, the Board decided to maintain the current policy settings, including the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points. The global economy has experienced a severe downturn as countries seek to contain the…
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Elite Agent
Good news: HomeBuilder has caused a boom in new home inquiries
The Federal Government’s HomeBuilder scheme has led to a surge in new home inquiries since it was announced in early June. REA have today released their ‘Insights New Homes Snapshot’ for July, which shows inquiries to developers nationally jumped by almost 63% in June. Even more impressively, inquiries about land experienced a 93% lift over the month. “I expect to…
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Elite Agent
Look inside Cate Blanchett’s $12m Sydney apartment
Cate Blanchett’s Macquarie Street split-level apartment in the historical Astor is on the market, with a $12 million guide price. Blanchett bought the eighth floor abode in 2015 for roughly $8 million. The 400sqm property has a stunning view of Sydney Harbour, overlooking the sails of the Opera House. For a further touch of glamour, the property initially belonged to…
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Elite Agent
Walkability: the new gold standard for urban planning
Once upon a time, the Australian dream was to buy a property in the suburbs, taking advantage of the vast networks of highways and the lowering costs of vehicles to get away from the rat race. The suburbs offered plenty of space to raise a family, even if it meant markedly more time in the car, travelling to and from…
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Real Estate News
Rental markets near universities are suffering due to COVID-19
Australian universities are financially reliant on full-fee paying international students. COVID-19 has crippled many industries, but the university sector has been amongst the hardest hit, with Universities Australia predicting losses of $16 billion across our tertiary institutions over the next three years – a dire scenario. The knock-on effects for the rental markets near these campus has already been seen,…
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Real Estate News
REIWA joins call to remove stamp duty
Following on from last week’s Thodey Report, which recommended that NSW stamp duty should be replaced by land tax, REIWA has called upon Western Australia to do the same. “Described in the report as an ‘unfair and damaging tax’, stamp duty is the wrong tax for rebuilding the State Governments’ capability to deliver for its citizens – clearly this also…
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Elite Agent
Capital city apartment values to be hit the hardest, experts predict
The latest Finder RBA Cash Rate Survey is out, and it’s not the best news for apartment owners. 43 experts and economists were asked to predict various aspects of the housing markets, including the projected values of apartments and houses in the eight capital cities. They predict price drops of between 7-8% price drops by the end of September for…
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Elite Agent
NSW Government offers free mental health work programs
Mental health is a growing concern in many industries, including real estate. The trauma of recent events has impacted workers far and wide, and the toll of such an upheaval in the day-to-day lives of all of us will be felt for some time to come. To help soften the impact of COVID-19, the NSW Government is offering a range…
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Real Estate News
The upside of COVID: More renters are now saving to buy property
Saving for a home deposit can be a tricky prospect, involving self-discipline, long-term goal setting, and sacrificing those little luxuries like eating out, going to live gigs, or indulging in weekend getaways. New research by Westpac into the financial trends of Australian renters during COVID-19 shows that government-enforced lockdowns, coupled with the closure of many businesses that rely on discretionary…
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Elite Agent
Kevin Rudd has bought Pat Rafter’s former $17m Noosa mansion
While a lot of Aussies assumed we'd be watching week two of Wimbleton at the moment, nobody could have predicted that the mystery buyer for Aussie tennis legend Pat Rafter's $16m Noosa mansion is none other than Therese Rein, the wife of former PM Kevin Rudd.
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Are you eligible for a $3000 Small Business Recovery Grant?
As we all know all too well, the real estate industry has been hit hard by COVID-19. Luckily, things are improving, but many businesses still need a cash boost in order to make the transition back to normal.If you are a small business owner, you may be eligible for a grant of up to $3000 from the NSW Government.The Small…
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Real Estate News
Domain print titles to start publishing again
Domain Magazine will start republishing its print magazines this month.Production and distribution restrictions, coupled with a ban on live auctions, forced Domain to suspend print publishing at the end of March.Domain Magazine will restart publishing on Friday July 31 in the Australian Financial Review, and the following day in The Age and Sydney Morning Herald.Sydney…
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Real Estate News
New strata data examines the growth of apartment living
Twenty per cent of Australians and five per cent of New Zealanders now live in strata-titled properties, according to a new report from UNSW’s City Futures Research Centre. Of the almost three million strata and community-titled properties in Australia, over 960,000 are in NSW, with the insured value of the properties nation-wide growing by over $100 million in the past…
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Real Estate News
Are you in a HomeBuilder boom area?
The Federal Government's Home Builder Grant looks set to stimulate the economy, with the December deadline to sign with a builder causing many to leap into home ownership.Wealthi's co-founder Domenic Nesci has pinpointed the areas most likely to see a boom in production."Western Sydney is perfectly placed to benefit from the incentives, new investments in…
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Real Estate News
Perth sales hit a five-year high
Perth is coming off its strongest month for sales since 2015, with transactions in June up 55.1 per cent from May. REIWA data shows that land sales in particular rose a striking 289 per cent from the previous month, with 1471 blocks sold. Dwelling transactions rose 15 per cent from May, with 3990 properties changing hands. While any comparative statistics…
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Real Estate News
Values fall in June across the larger capital cities
Despite Australians beginning to take baby steps out in the world again, real estate values across the combined capitals have continued to drop for the second month in a row, falling 0.7 per cent in June, after a 0.4 per cent decline in May. But it’s not all bad news for owners – especially those in Hobart and Darwin. The…
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