INDUSTRY NEWS
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Australia’s 20 largest property groups keep growing
Australian property has been strong over the past 12 months which is also driving up the value of some of the largest property groups in the country.
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Stubborn inflation means rate cuts might not arrive in 2024
Australians hoping for an interest rate cut this year may be setting themselves up for disappointment with persistent inflation and strong jobs data meaning the cash rate could be on hold for the rest of 2024.
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Budget funding positive but not enough to solve housing crisis
The property industry has largely welcomed the Federal Government’s housing funding, announced ahead of today’s budget, but there are still calls for more to be done.
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New build smashes Manly price record
In a record-breaking sale, a newly constructed home in Fairy Bower, Manly, is believed to have smashed the suburb’s price record by $10 million, making it the second-highest sale in the history of Sydney's Northern Beaches.
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Josh Tesolin back in yellow as he eyes-off a record year
Josh Tesolin has renewed his commitment with the Ray White Group, signing on the dotted line a year ahead of schedule.
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The Zillow Gone Wild TV series set to premiere
A new Zillow Gone Wild TV series has premiered in the US, inspired by the popular Instagram account that has nearly two million followers.
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Judge approves NAR settlements after late bid fails
Despite a last-ditch bid to halt settlement proceedings in the NAR commission case, a judge has given his final approval for the settlement to go ahead.
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LJ Hooker calls on the government to help homeowners ‘right size’
The upcoming Federal Budget is an opportunity for the government to tackle the housing crisis by boosting construction and making it easier for people to ‘right-size’.
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Are safe rooms the modern home’s new ‘must-have’ feature?
Once purely the domain of Hollywood films, safe rooms are becoming an increasingly popular property feature, both here and overseas.
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Community and compassion: how Matt Plunkett uses his real estate skills for charity
Matt Plunkett’s no stranger to calling an auction, but there are two each year that mean a lot more than most.
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Matthew Harvey joins Clarke & Humel on Sydney’s Northern Beaches
Clarke & Humel has embarked on the next phase of its growth strategy, appointing distinguished industry leader, Matthew Harvey, as the agency’s new general manager.
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REA Group reports surge in revenue growth
REA Group’s revenue has spiked 20 per cent on the back of strong Australian residential and commercial yield, along with revenue growth in the Indian arm of the business.
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NZ FHB’s making the most of lower prices
New Zealand first-home buyers have capitalised on lower property prices and other incentives, making up more than one-quarter of property purchases.
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Australian housing is ‘far from equitable’ and getting worse
The Australian housing system is likely to get worse for years to come unless the government fulfils all of its housing promises and is able to meet the high level of demand according to a new report.
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Deadline approaching for NSW assistant agents to extend their certificates
Eligible assistant agents in NSW have until 22 June 2024 to apply for an extension of their certificate of registration for a one-off, 12-month period.
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WA Government dangles $5000 carrot to fill empty homes
The Real Estate Institute of Western Australia (REIWA) has welcomed a new State Government scheme that will offer owners of empty homes $5000 if they make them available as a long-term rental.
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Interest rates on hold but future hikes not ruled out
The Reserve Bank of Australia has kept interest rates on hold at 4.35 per cent at its May meeting, but cautioned that higher than expected inflation was not expected to return to the target 2-3 per cent range until the second half of 2025.
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Slower growth ahead for Australian farmland
Australian farmland prices are set for further growth in the year ahead, but the pace is going to slow down according to a new report.
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Brisbane’s ‘jaw’ dropping shark house
A house shaped like the jaws of a shark has been making a splash with the locals in Brisbane.
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How to transform neglected clients into lifelong partners
Staying in touch with past clients well after a property has settled is one of the fundamental ways of ensuring you always have ongoing repeat and referral opportunities.
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Overseas immigration pushes rents higher in the inner city
Overseas immigration is driving up rents and the impact is being felt most of all in inner city Melbourne according to new data.
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The $6000 bus transformed into a funky weekender
An old, run-down Bedford Bus has been transformed into a funky weekender that also helped the owners earn a tidy profit.
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Why Perth’s still not an auction market
Despite Perth property prices surging at the fastest rate in the country, agents and vendors are still reluctant to sell using the auction process.
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Aussies move in with friends and family to avoid rental crunch
Over 2.5 million renters have been forced to move in with friends and family to survive the ongoing cost of living crisis according to a new survey.
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Experts confident the cash rate will remain on hold
The official cash rate is likely to remain on hold in May, and the experts now think there might not be a rate cut at all in 2024.
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Australians stash a record high $1.47 trillion in the bank
The cost of living might be rising but Australians still have a good chunk of cash stashed away for a rainy day, according to new data.
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TRG set to open another office in Hunters Hill
Gavin Rubinstein is set to shake up the Hunter’s Hill property market, with plans to open The Rubinstein Group’s (TRG) third office.
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Relief for Perth tenants as rents remain stable
In good news for Perth tenants, rents held steady in April while rental listings also started to increase.
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PEXA pursues partnership with UK lender
PEXA is progressing a strategic partnership with UK lender NatWest that will see it use PEXA's digital property exchange technology to deliver 48-hour remortgage transactions to its customers.
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Wingadal listed with price hopes of $200 million-plus
Australia's residential property price record could soon be smashed, with the striking Sydney mansion, Wingadal, hitting the market with price expectations of more than $200 million.
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Smart glasses could enhance auction transparency
Virtual reality smart glasses have the potential to bring greater transparency to the real estate industry and help auctioneers and agents improve their craft, but they won’t become widely used until they are mainstream in people’s homes.
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REIA unveils the agenda for the Centennial Congress
The Real Estate Institute of Australia (REIA) has released the final program for the historic REIA Centennial Congress which aims to examine what the future has in store for the industry.
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Only one area in QLD with a ‘healthy’ supply of rentals
The availability of rentals is at critically low levels across Queensland, with only one area in the whole state considered to have a “healthy” vacancy rate.
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Property values continue to rise amid low supply
Australian property values have continued to rise, with low supply trumping high interest rates and inflation in the price equation.
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Domain introduces Audience Boost to reach more buyers
Residential listings with Domain will reach even more buyers from July 1, with the portal’s new Audience Boost feature set to promote properties across display advertising and social media.
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