Elite Agent
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Unit oversupply in Brisbane scaring off buyers
The inner-city Brisbane unit market was suffering from oversupply before COVID-19 struck, but now researchers are warning it has become a “huge danger zone” for potential investors. According to RiskWise Property Research CEO Doron Peleg, things have become much worse over the past few months, and will continue along these lines. “RiskWise reported in July 2018 that there were 14,813…
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Knowledge is power
Spring is one of the peak selling periods agents look forward to each year. Listings are often more abundant as many owners choose to sell when their property looks its best. If you could find a way to increase your clearance rates and reduce your days on market, would that make your spring selling period even better? One thing I…
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Turning lockdown lessons into productivity hacks
Ever since COVID-19 came along and changed the way we all work, every trainer, coach and franchise organisation has begun engaging in a wide variety of online training materials. From motivational content to real estate-specific skills, business development, personal resilience, team building and customer service alternatives, there’s been a host of information absorbed. We’ve been sponges because we know that…
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Residential land demand highest in two years
The impact of HomeBuilder is finally beginning to be represented by statistics.
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Melbourne’s population to drop significantly
One of the unintended consequences of the Melbourne lockdowns will be that tens of thousands of people will flee the city.
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REIWA’s post-COVID prosperity plan
“It’s clear that the property industry needs stimulus to attract buyers and investors back into the market.” That’s the message from Real Estate Institute of Western Australia, who have delivered a prosperity plan to the WA Government that they believe will set the state on the road to recovery. Below is an outline of the plan. Reform stamp duty to…
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Who’s where on the property clock as spring selling begins?
Tasmanian cities are among the new additions to the top of the property clock, according to the September Month in Review by Herron Todd White. Launceston and Bernie/Devonport have now joined capitals like Adelaide, Hobart and Canberra, along with regional areas like Albury, Geelong, and Bathurst at the peak of the market, while Melbourne has officially entered decline, and Darwin…
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Automation made easy
‘The clock is ticking’ is a phrase well known to real estate agents. There always seems to be so much to do in so little time. Trevor Bragg takes a look at how agents can use automation to save them time and create more hours to spend with clients. Time – we all wish we had more of it. If…
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Time’s up: Banks begin contacting deferred mortgage holders
Over half of the 900,000 loans that were deferred in Australia will be assessed in the coming weeks, as the six-month ‘mortgage holiday’ period comes to an end. According to the Australian Banking Association, banks have already started contacting customers to “discuss the next stage of support and assistance”. Among these, 260,000 deferred mortgages will be assessed before the end…
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Katie Cotton appointed to grow RE/MAX business
RE/MAX Australia has appointed Katie Cotton, former National Manager with easyBondpay and easyAdpay, to the role of Business Growth Manager. Ms Cotton will focus on expanding the network through the southern Queensland and northern New South Wales regions. “With easyBondpay being a well-known product supplier to the real estate sector, and a RE/MAX partner, I have already established relationships with…
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Australia hits Top 20 in Global Home Price Index
Australia has ranked 19th in the world for house price growth for the year to June 2020, according to the Knight Frank Global House Price Index Q2 2020. The index tracks the movement in mainstream residential pricesacross more than 50 countries and territories worldwide using official statistics. It showed Australia’s house prices grew 6.1 per cent over the year to…
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Common questions answered about Victoria’s new roadmap
The Victorian government’s roadmap out of pandemic lockdowns includes new provisions for single people living alone and single parents: the “single social bubble” system, which comes into effect on September 14. Under the new system, if you’re a single person living alone or a single parent with children under 18, you can nominate one other person to be part of your bubble. The…
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Have we just stumbled on the biggest productivity increase of the century?
One of the most striking responses to the COVID-19 pandemic has been the sudden shift of around half the workforce to working at home. In many cases, this was combined with an equally sudden shift to home schooling. Contrary to what might have been expected, working from home was one part of the pandemic response that went remarkably smoothly. Most…
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Stimulus must be brought forward immediately: PCA
The Property Council of Australia has welcomed the Victorian Government’s roadmap for the safe reopening of the property industry, while acknowledging lifting restrictions is “a balancing act and all stakeholders must remain vigilant”. The PCA continues to urge the Government to bring forward its “desperately needed industry stimulus package”, noting it takes months for construction and real estate businesses to…
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Roadmap “extremely tough” on renovations: Master Builders Victoria
Master Builders Victoria has welcomed the state government’s “vote of confidence” in the building industry, suggesting the shift to ‘Restricted’ practices on September 28 will require only “minor updates on what our industry has been doing for many months and would be achievable for both workers and employers”. A statement from MBV acknowledged “some disappointment” that the industry cannot open…
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Game of Thrones star Emilia Clarke lists LA beach house
Game of Thrones star Emilia Clarke is hoping to net somewhere in the region of $6.8 million (AUD) for her Venice beach house, which was recently put on the market. In terms of Californian pads owned by movie stars, this one is rather modest, sporting only two bedrooms and three bathrooms – a “single family home” according to the listing.…
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Strong hands steady the ship
Joel Davoren took up the role of Managing Director at RE/MAX Australia at the start of July. He says transitioning into the role has meant adapting quickly and a shift in thinking, but with change an ever-present factor in everyone’s lives at the moment, he has taken it in his stride. “The feeling of change right now is incredibly palpable; you can…
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Amazon launch new Alexa tool for property managers
Amazon has launched Alexa for Residential in response to a survey that found the majority of renters want smart home amenities. According to US National Apartment Association, 84 per cent of renters want an apartment with smart home amenities; 61 per cent said they would pay a monthly fee for a voice assistant. The new tool allows property managers and…
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REIA applauds Tasmania’s new Landlord Support Fund
The Tasmanian Government is being lauded as leading the charge when it comes to implementing sensible measures regarding the current rental situation. They announced the extension of the emergency period to December 1, 2020, meaning all current residential tenant protections will hold. In addition, they have extended the Rent Relief Fund with a second round of payments, introduced a new…
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REIV slams Vic Gov as sector faces ‘double whammy’
The Real Estate Institute of Victoria has slammed the Victorian State Government for its continued ban on in-person inspections, claiming the decision will “effectively keep the property market shut down for an uncertain period”. Shortly after Premier Daniel Andrews today revealed strict lockdowns would extend a further two weeks, the REIV implored the government to rethink its ban on one-on-one…
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Sydney’s August clearance rate hits highest point since start of pandemic
The month of August saw Sydney achieve its highest clearance rate since the start of COVID-19, with the harbour city returning a success rate of 59.7 per cent. A report by Domain indicates Sydney’s clearance rate edged 1.8 per cent higher throughout the month, taking it to 23.6 percentage points above the 15-year low it hit in April. “While clearance…
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Time for VIC construction workers to go back to work: John Setka
Trade unionist John Setka, Victorian state secretary of the Construction, Forestry, Maritime, Mining and Energy Union, has penned an open letter to the Premier and Chief Health Officer of Victoria, urging them to allow the 300,000 plus Victorian construction workers back onto building sites. The letter is republished below. “The commercial construction industry has continued to lead workers safely through…
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Builders and tradies the biggest losers in NSW/QLD border closures
The Housing Industry Association has warned the national cabinet it is “critical to both state’s economies” that they quickly come to an agreement to relax border restrictions between NSW and QLD, in order to assist thousands of builders and tradies working either side of the border who have been unduly impacted by closures. “When border closures started at 1am on…
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Look inside Justin Bieber’s $25.8 million bargain in Beverly Park
Justin Bieber and wife Hailey Baldwin have scored themselves a massive six-bedroom mansion in Beverly Park for a cool $25.8 million. The property was built in 1988, and first went on the market in April, 2018, with an asking price of $42m; enough to make it realtor.com’s most expensive listing of that week. Since that point, the price dropped incrementally,…
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Stefan Siciliano: Play the long game
Years in the industry?Four years, eight months. What’s a special place in your local area?Greenacres shopping centre. I see so many present and past clients here. I try to pop into Coles to support the local. I also see a lot of people on my database here, and I love being able to stop, say hello, and have a chat…
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The personal touch – at scale
Email autoresponders cut through the obstacles which get in the way of responding to the many property email inquiries an agent receives all day. Bill Shields examines how they can help you boost your client experience. Many of us are thinking about how we will do things differently post-COVID-19 and, perhaps, what things will stay the same. While the market…
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Only 30 auctions expected this week for Melbourne
Auction activity has taken a hit across the combined capital cities this week, as Melbourne enters its fifth week of Stage 4 lockdowns. The city will hold only 30 auctions, down from 765 auctions this time last week. CoreLogic are tracking 937 auctions in total across the capital cities this week, down from both last week’s 1128 and the 1533…
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1.2m Aussie building jobs now in jeopardy
Over 1.2 million jobs and 400,000 businesses are in danger after the 7 per cent fall in the June quarter GDP. Master Builders Australia are calling for the National Cabinet to reach a consensus “to deal cohesively and practically with the tension between the health and economic impact of the virus” or the entire building industry, and therefore the national…
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Ray White NSW | ACT celebrates its 2020 winners
Close to 1000 people tuned in to watch the Ray White NSW | ACT 2019-20 awards, which looked a little different this year, held over Zoom. Nonetheless, the night felt the same, as the network celebrated the achievements of its top offices and individuals. Ray White NSW CEO Andrew McCulloch said the iso-style awards were a sign of 2020 given…
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House hunters are rarely told the home energy rating
Most Australian homes have been built to notoriously poor standards. The energy performance of existing homes in Victoria, for instance, averages 1.8 stars – 6 stars is mandatory for newly built homes under the 10-star Nationwide House Energy Rating Scheme (NaTHERS). Decision-makers typically fail to appreciate the importance of a low star rating, even though it have profound impacts on households’ health and…
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Communication conquers crisis
From bushfires and hail storms to Coronavirus and Kanye for president; we’ve been living through a state of instability and unknowns. Many industries, including ours, have kept on keeping on—albeit with a host of changes, and a welcome opportunity to innovate and challenge the status quo. Everywhere you look, there are lessons to be learnt from living through times of…
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Perth rentals moving the fastest since 2015 mining boom
In August 2019, it took a median of 34 days to lease a property in the Greater Perth region. This August, it only took 21 days, meaning that properties are turning around two weeks’ less than this time last year. Reiwa.com data shows this is the quickest uptake rate since the last mining boom in February, 2015. The median rent…
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WA rental properties leasing two weeks faster in August
August data from the Real Estate Institute of WA (REIWA) indicates it took a median of 21 days to lease a property in Greater Perth. The swift turnaround time is 13 days less than the same time last year and the shortest time to lease since the construction phase of the last mining boom in February 2015. REIWA President Damian…
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RBA takes hold and hope approach
The Reserve Bank of Australia (RBA) has left the official cash rate on hold at 0.25 per cent as the nation’s economy continues to feel the fallout of COVID-19. Noting the economy is grappling with the “biggest contraction since the 1930s” RBA Governor Philip Lowe said his board was committed to doing what it could to support jobs, incomes and…
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The Agency reports 48 per cent increase in revenue
The Agency is celebrating success, with their financial results for 2019/20 indicating a turnaround in cashflow and earnings before interest, taxes, depreciation, and amortization (EBITDA), along with a 48 per cent increase in revenue. Released on August 31, The Agency’s ASX announcement highlights 12 months of operational growth and improvement, resulting in revenue of $41.86 million, compared to $28.34 million…
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