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Pierce Brosnan lists Malibu beach house for $142m
Walls of glass, temperature-controlled wine storage unit, and mindblowing oceanic views: it's the perfect beach pad for 007.
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CoreLogic partners with innovation program RealTechX
CoreLogic has today announced its backing of emerging technology businesses in real estate through Taronga Ventures' RealTechX program. CoreLogic Executive and Head of Product, Tim Jenner, says the partnership hits a sweet spot for the business at just the right time. Mr Jenner said "The world's moving fast from a…
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Over a quarter of Aussies say now is the time to buy property
New research commissioned by ING has found Australians have no real qualms about investing during this recession, with 44 per cent of those surveyed feeling property is the strongest investment option, and 26 per cent feeling now is the best time to make such an investment.
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Mirvac sees 40 per cent rise in residential land sales
Over the September quarter, developer Mirvac saw a 40 per cent lift in housing lot sales, selling over 660 lots across the country, with the majority located in newly-developed housing estates.
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Most Aussies are made responsible for their own workplace COVID cleaning
New research has found that 59 per cent of Australians have had their bosses task them with cleaning their workplaces amid the COVID-19 pandemic.
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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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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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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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ScoMo and the PCA want you to get back to the office
Property Council of Australia Chief Executive Ken Morrison has welcomed the Prime Minister's call for public servants to return to their offices, and for other businesses and workers to follow suit.
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Buyers keen but sellers hesitant in an uncertain market
With COVID-19 restrictions continuing to ease just in time for the spring selling season, the property market is expecting a surge of buyer demand.
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RBA expected to cut cash rate to 0.1 per cent
It seems a fait accompli that the Reserve Bank will be slashing the cash rate by 0.15 per cent, but experts are divided on when it will happen.
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Universities will need to sell $25b real estate portfolio
The Australian university sector is in dire straits, with Universities Australia predicting losses of $16 billion across our tertiary institutions over the next three years, as the usual influx of international students is stalled.
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Banks plan to hike interest rates for COVID-impacted customers
Three of the country’s largest banks have conceded that they will increase interest rates for those financially distressed customers planning to make interest-only repayments after the mortgage holiday period ends. NAB, Commonwealth and Westpac have admitted that rates will be higher for those customers only paying interest on their home loans, as opposed to those who pay principal plus interest.…
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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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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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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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Wind up commercial rent relief this month, says PCA
A ‘red tape burden’ has been placed on the commercial property sector, according to a new survey by the Property Council of Australia, with only 25 per cent of provision relief having currently been finalised. The results highlight the inherent complexities of the codes, coupled with state and territory delays, the Property Council notes. Now they are calling on state…
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New online tool helps estimate reno costs
If you’ve been watching The Block recently, you may have noticed that Suncorp and CoreLogic are both among the sponsors. The pair have teamed up to launch a new renovation calculator, aimed at helping those inspired by The Block work out the cost of home renovations, according to the room, renovation type, and particular suburb you are renovating in. The…
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Trouble at the mall as landlords and tenants ponder mutually assured destruction
“This is not a bluff,” Scott Evans, the chief executive of Mosaic Brands, has said of his threat to permanently close 300 to 500 stores in Australia unless landlords reduce rents. Mosiac’s network of about 1300 apparel stores includes Katies, Noni B, Rivers, Rockmans, Millers and Crossroads. With stores shuttered temporarily due to COVID-19 restrictions, it posted a A$170.5 million loss in the…
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HIA: Home building slump will weigh down GDP
The decline in residential building work will “compound the contraction in Australia’s Gross Domestic Product in the June quarter,” according to HIA Senior Economist Geordan Murray. The total value of residential building work done declined by 5.5 per cent in the June quarter, and is down by 12.1 per cent compared with a year ago. Mr Murray notes that the total value…
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Crown Group CEO calls for ‘wellness’ to be integrated into building standards
Crown Group Chairman and CEO Iwan Sunito is calling for tenants’ physical and mental wellbeing to be considered and incorporated into building design standards in the post-COVID world. “Many people are spending more time working from home, studying from home, home-schooling their children and exercising and recreating,” Mr Sunito said. “People who live in well-designed homes that offer plenty of…
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REA launches new tools for self-managed landlords
REA Group has announced a new experience for self-managed landlords to either connect with an agency on realestate.com.au, or list their rental property directly on the site. Set to go live later this month, the move comes in response to research highlighting that over one third of investors now self-manage their rental properties, presenting an untapped segment for realestate.com.au consumers and customers to…
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Leading retail group to close up to 500 Australian stores
Mosaic Brands, the retail group that owns fashion brands such as Millers, Noni B, Rivers, Katies, Rockmans and more, has delivered a disastrous FY20 loss along with news it plans to shut as many as 500 stores over the next two years. The group owns 1332 Australian stores, employing 6800 people across the country. Today they announced an underlying loss…
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Offr platform to launch in Australia
A prop-tech platform that digitises the buying, selling and leasing process for real estate agents and buyers, has raised close to AU$5m in seed funding. Launched just 10 months ago, Offr digitises over 85 per cent of the process of buying and selling property for agents and their customers. It also makes international trading of property possible for buyers online,…
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Lenders shy away from commercial sector
A new report by CBRE has found a number of factors are making lenders more reticent in their lending practices for commercial properties. The report explains how increasing economic uncertainty brought about by the onset of COVID-19 has resulted in retailers struggling to stay open and pay the rent. Commercial rent in most Australian office markets has declined, and vacancy…
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Inside Brad Pitt and Jen Aniston’s Beverly Hills love-nest
The house Jennifer Aniston and Brad Pitt bought in 2000 for US$13.5m has just sold for $32.5m, more than double what they bought it for two decades ago. The Beverly Hills mansion was built in 1934 for old-timey Hollywood actor Fredric March. It was listed last year for $56m, but attracted little interest. The price was lowered a number of…
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Talk of ‘the end of offices’ not supported by data
The end of the office is far from nigh, according to the Property Council, who recently released their latest Office Market Report. “While there is plenty of commentary about the end of the office, the data doesn’t suggest this, and there is a long way to go as business works its way through the economic and social impacts of COVID-19,”…
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Brownlow Medallist ‘Aker’ joins Ray White Ascot
Brownlow Medallist, and three-time AFL Premier Jason Akermanis has joined Ray White Ascot, in the role of sales agent and auctioneer. The former Brisbane Lions player enjoyed a stellar 248-game career, kicking 263 goals over the years. Now he is returning to the state that made him famous, but in an entirely different role. “Having a professional purpose, the ability…
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Susie O’Neill’s riverfront home on the market
Eight-time Olympic medallist turned breakfast radio host, Susie O’Neill has put her family home of two decades on the market. Christine Rudolph of Ray White New Farm is selling the Yeronga home, which overlooks the Brisbane River. O’Neill and her ophthalmologist husband Cliff Fairley bought the house 19 years ago. “We have loved this house since we bought it back…
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CBA boss expects a 10-12% drop in housing prices
Yesterday, the Commonwealth Bank delivered a full-year cash profit of $7.3 billion, along with welcome news that the property market had been more resilient than first feared. In May, CBA chief executive Matt Comyn detailed a worst-case scenario, in which values would drop by 30 per cent. Yesterday, he was more optimistic. “I think a reduction…in the order of 10…
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Wage growth slumps to new national low
Wage growth is now at the lowest point on record, with the Australian Bureau of Statistics (ABS) reporting the national wage price index (WPI) increased by only 0.2 per cent in the June quarter, up 1.8 per cent over the past year. “After a steady period of wage growth over the previous 12 months, wages recorded the lowest annual growth…
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Australia starting to feel the HomeBuilder effect
The last two months of data suggests that HomeBuilder has been successful in bolstering new builds and protecting jobs in the short term. And although HIA are cautious of over interpreting data from only two months, they believe these two months are “a clear indication that HomeBuilder will help protect jobs in the sector in the second half of 2020…
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Global commercial real estate investment takes a dive
COVID-19, and all the associated economic and geographic headaches it brought to the world, has led to a major slump in commercial real estate investment volumes, which fell across all three global regions during the first half of 2020. Commercial real estate investment fell 29 per cent globally, to $321 billion in the first six months of 2020 compared to…
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Melbourne topples Sydney as largest CBD office market
Three recent office completions have helped tip the scales, making Melbourne the largest CBD office market in the country. JLL Research notes that, with the completions of Victoria Police Centre, The Lendlease Two Melbourne Quarter, and Dexus 80 Collins Street, the Melbourne CBD now boasts 5,107,840sq m of office space, surpassing Sydney’s 5,024,240sq m. “The completion of these three projects…
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Buy a private QLD island for less than $400K
If you’re the type to have your Desert Island Discs list ready and waiting in case the BBC call you up to appear on their show, then you’ve probably already considered the joys of living on a secluded island. For everyone else, Worthington Island is just a half hour boat trip from Gladstone Airport, just off the coast of the…
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