INDUSTRY NEWS
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Sydney’s cost of living stifling investment
Sydney’s high cost of living is holding it back as an investment hub, despite being one of the top locations for tech startups and innovation according to a new report.
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A property manager’s rapid response brings tenant comfort after robbery
When a call came through to property manager Kat Byrne’s after hours number she was anticipating a potential maintenance issue but not a distraught tenant who’d just been burgled on the other end of the line.
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Darwin property market on the cusp of major growth
Interstate investors are starting to pay attention to Darwin’s property market, potentially leading to the next growth phase according to an expert.
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Australian property market sees a surge in profitability
Even though transaction volumes increased at the end of 2023, the level of loss-making sales dropped to just 5500, according to the latest figures.
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Kolmeo now integrates with Inspection Express
Property management software provider Kolmeo now integrates with Australia’s premier inspection tool, Inspection Express.
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First National celebrates its best performers
First National Real Estate has highlighted its best performers across the country in its state-based General Excellence and Marketing Awards, with one incredible agent scoring the Number 1 Salesperson of the Year for the seventh time.
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Calls to extend first home owner grant to established homes in WA
The Western Australian government needs to extend the First Home Owner Grant (FHOG) to established homes to help ease pressure on the construction industry and get more young people into their own property.
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Canadian landlords call for “automatic eviction” rights
Landlords in Ontario, Canada, have launched an online petition calling for the “automatic eviction” for tenants who don’t pay rent.
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Mum and dad builders targeting affordability and liveability
Mums and Dads looking to build a home in Victoria are increasingly targeting the “sweet spot” between location and affordability according to new research.
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Australia’s only two-storey beach box up for grabs
What's believed to be Australia’s only two-storey beach box is up for grabs on the Mornington Peninsula, boasting exclusive water views out to the city skyline.
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Buyers and renters are increasingly worried about energy costs
The cost of living crisis is forcing both home buyers and renters to pay more attention to energy-efficient homes according to a new survey.
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McGrath to sell to Knight Frank and Bayleys
John McGrath has struck a deal to sell McGrath Limited to Knight Frank and Bayleys, in a move that would also see the company delisted from the ASX.
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Compass settles commissions law suit
Compass has agreed to a US$57.5 million settlement to resolve class-action lawsuits alleging the company, along with other brokerages and trade groups, engaged in anticompetitive practices to inflate agent fees.
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Australia’s property market buckles as immigration hits a 70-year high
The Australian housing market is being put to the test after a record 765,900 new overseas arrivals landed in the country in the 12 months to September.
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REIQ: Queensland rental reforms are “unworkable”
The Real Estate Institute of Queensland (REIQ) has warned new rental reforms currently before parliament are extreme, unnecessary and unworkable.
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Architectural gem hits the Sydney auction market
One of Sydney’s most unique homes, a cantilevered architectural gem high above Middle Harbour, will go to auction next month with a price guide of $10 million to $11 million.
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New virtual reality technology to preview homes before they’re built
New virtual reality (VR) technology has been released that allows people to preview homes before they are built using just their floor plans.
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The Sunshine State tops the list for investors chasing yield
Queensland is shaping up as a top investment location for investors searching for a combination of high yields and growth potential.
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Australia one of the world’s happiest countries
Australia has been named the 10th happiest country in the world, according to the World Happiness Report 2024.
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Sydney ranks fourth in global super-prime property sales surge
Sydney’s super-prime residential property market is proving buoyant, with the city coming in fourth on the latest Knight Frank rankings for that market sector. According to the Global Super-Prime Intelligence Q4 report, the NSW capital city recorded 42 sales in the super-prime market in the final three months of 2023. The super-prime market comprises residential sales above US$10 million and…
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New tech creates professional 2D floor plans in 5 minutes
Listing Loop, a leading Australian PropTech that’s streamlined the property transaction journey with an all-in-one platform, has launched FloorPlan AI, a game-changing new floor plan technology.
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Numbers ‘not adding up’ for New Zealand investors
Despite rising rents in New Zealand, investor yields are still lagging behind mortgage repayments, forcing ‘Mum and Dad investors’ to reach into their own pockets to make up the shortfall.
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Unlocking Australia’s future: embracing housing density for affordable living
Australia needs to embrace greater housing density, particularly in the capital cities, as a means to combat the housing affordability crisis.
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Stamp duty is holding us back from moving homes – we’ve worked out how much
If just one state of Australia, New South Wales, scrapped its stamp duty on real-estate transactions, about 100,000 more Australians would move homes each year, according to our best estimates.
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The power of praise: Unlocking leadership with Ray White
You must be prepared to praise your teams if you want to develop leadership was the message coming out of Ray White’s inaugural Leadership Week on the Gold Coast.
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Rental bond subscription service to save tenants thousands and property managers time
A new subscription rental bond service has been launched that has the potential to save tenants thousands of dollars as well as ease the demands on property managers.
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Interest rates on hold as RBA says economic outlook remains ‘uncertain’
The Reserve Bank of Australia has opted to keep interest rates on hold at 4.35 per cent at its March meeting, highlighting that the economic outlook remains uncertain, despite a recent drop in inflation.
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NAR agrees to $418 million settlement in US commission case
The National Association of Realtors (NAR) has agreed to a US$418 million legal agreement that could see agent commissions in the US slashed.
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Busy start to 2024 with new listings surging in February
Capital city activity surged with the busiest February for new listings on realestate.com.au in over a decade, according to the PropTrack Listings Report February 2024, released today.
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Interest rates to stay on hold despite drop in inflation
Despite lower than expected inflation, economists don’t expect the Reserve Bank of Australia to cut interest rate before September.
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WA Rent Relief Program pays out $1 million in three months
Struggling WA renters have received more than $1 million as part of the State Government’s Rent Relief Program.
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Richardson & Wrench scoop the pool at major awards night
Richardson & Wrench’s real estate network has swept the board in the 2024 RateMyAgent Awards, with its agents and offices across Australia winning more than 20 accolades for exceptional client service, standards, and satisfaction.
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Distressed listings fall in all capital cities
The number of distressed listings has fallen substantially over the past year, as mortgage holders weather the interest rate storm and look forward to potential cuts later this year.
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Vacancy rates drop again to a record low 1.07 per cent
The rental crisis is showing no signs of easing just yet, with new data finding that the national vacancy rate has fallen to a record low of 1.07 per cent.
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Council takes legal action on what could be the world’s worst home
A UK council has taken legal action against a homeowner with a derelict property where vegetation grows inside.
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