INDUSTRY NEWS
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REIA to represent Australia at climate forum in Paris
The Real Estate Institute of Australia (REIA) is sending a representative to the upcoming Buildings and Climate Global Forum in Paris.
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Queensland house prices jumped 3.88 per cent last quarter
The Queensland property market continues to go from strength to strength with new data showing house prices rose 3.88 per cent last quarter.
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Perth, Gold Coast the strongest luxury markets in 2023
Despite higher interest rates weighing on some property markets, luxury residential property in Australia has remained resilient, especially in Perth and on the Gold Coast, according to a new report.
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Nigel O’Neil takes the reins at Woodards
Nigel O’Neil has been named as the new Chief Executive Officer at Woodards, with network growth and developing the next generation of agents firmly in his sights.
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Perth shines in property boom as Sydney and Melbourne rally
Perth remains the hottest capital city property market in Australia, but Melbourne and Sydney are making a comeback, according to new research.
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Stable inflation sparks optimism for the RBA’s next move
Industry experts are quietly confident the Reserve Bank of Australia will leave interest rates on hold when it next meets, with inflation holding steady.
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Ray White call-a-thon generates 8000 appraisals
Ray White agents from across Australasia have booked more than 2000 appraisals an hour as part of the group’s 14th Real Estate Of Origin (REOO) this week.
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Perfect storm sees homelessness in WA soar
A “perfect storm” of soaring rents, rock bottom vacancy rates and the cost of living crisis has plunged thousands of West Australians into homelessness.
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City slickers still look to the regions, especially the Sunshine Coast
The Sunshine Coast has surged ahead as Australia’s most coveted region for movers, capturing a record share of net internal migration over the last year according to the latest Regional Movers Index (RMI).
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Property values to increase but rate of growth likely to slow: HTW
Property price growth rates are set to slow down over the remainder of 2024, according to the latest Herron Todd White (HTW) Month in Review.
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Time running out for ACT agents to complete Class 1 licence renewal
Come July 1, real estate agents in the ACT, who transitioned to a Class 1 licence status following the 2022 legislative changes, must have completed at least 7 core units from the Diploma of Property (Agency Management) CPP51122 to retain their Class 1 licence status.
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Buying Boost turns homeowners dreams into reality
Would-be homeowners currently locked out of the real estate market, due to not being able to save all of the deposit, now have a way of buying a home.
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Australia to miss housing target by 200,000
Australia will likely fall almost 200,000 homes short of the Federal Government’s ambitious plan to build 1.2 million homes over five years, according to the latest HIA forecast.
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Regional areas outpace capital cities for growth
Despite affordability constraints and rising interest rates regional property prices have outpaced the capital cities over the past quarter.
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What the Right to Disconnect legislation means for you
Clear education and communication will be the key to the real estate industry navigating the new Right to Disconnect legislation, according to the sector’s leading workplace advisory service.
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PEXA revenue jumps 16 per cent in first half of financial year
Online conveyancer PEXA has seen its revenues jump 16 per cent over the first half of the 2024 financial year, thanks to a focus on executing its core strategy.
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RE/MAX Australia unaffected by US leadership shuffle
RE/MAX LLC President and Chief Executive Officer Nick Bailey has been replaced as head of the franchisor in the US, but the move will not impact the Australian arm of the international network.
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Luxury development skips the showroom in favour of Virtual Reality
A new Queensland development is changing the way off-the-plan properties are sold, with the sales team embracing Augmented Reality (AR) and Virtual Reality (VR) technology and doing away with the traditional showroom.
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Tasmania’s bold housing plan: pets, tax cuts, and eco upgrades promised
The Tasmanian Government has vowed to allow pets in rental properties, boost its Private Rental Incentive Scheme and abolish millions of dollars in stamp duty costs if re-elected in next month’s State Election.
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Ray White encourages their agents to ‘get uncomfortable’ to grow
Get prepared to be uncomfortable if you want to grow was the message coming out of Ray White’s 2024 Launch event this week.
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You can now rent out your pool for extra income
Pool owners are now able to make extra income by renting out their pools on the side with some people making as much as $5000 over the summer.
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Are first-time buyers really closer to home?
First-time buyers can save a 20 per cent deposit two months faster now than they could a year ago but there is a catch, according to the latest data from Domain.
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Australian property professionals drag their feet on AI
More than one-third of property professionals believe Artificial Intelligence (AI) will have a “revolutionary impact” on the sector, but few have truly started to implement it.
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Demand for share accommodation surges over summer
The housing crisis continues to force renters into share accommodation with demand for rooms soaring in January.
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The Sydney suburbs where house prices are set to grow
A host of Sydney suburbs are set to see house prices grow by more than five per cent in the next six months led by the more affordable end of the market.
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House and unit price gap hits record $300k in capital cities
The gap between capital city house and unit prices has never been wider, with detached homes now costing almost $300,000 more.
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New Zealand sales volumes near 40-year lows
High interest rates continue to weigh on New Zealand's housing market, with monthly sales volumes seeing the second-slowest January in 40 years.
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@realty celebrates a decade of innovation and success
This week @realty, a leading player in the real estate industry, is commemorating its remarkable 10-year anniversary.
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The value of property purchases falls as buyers tighten their belts
Rising interest rates led Australian borrowers to tighten their purse strings last year, with the total value of property purchases down 12.7 per cent according to new research
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McGrath posts $7.5 million profit and plan for more offices
McGrath now has 16 more offices and 81 more agents than it did a year ago, with a view to add 115 high quality new offices to the network over the next three to four years.
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NSW Government floats levies and day caps on short-term rentals
Revenue levies and lower day caps are among the options the NSW Government will consider in a review of short-term rental accommodation in the state.
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New Zealand homeowners struggle to pay mortgage
New Zealanders are struggling afford a home, with higher interest rates and elevated property prices squeezing borrowers.
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Forget about making zillions, Zillow posted a net loss for 2023
A fourth quarter surge in revenue hasn’t stopped US listings platform Zillow from posting a calendar year loss of US$158 million in 2023.
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New listings surge in Sydney and Melbourne
A surge of sellers have listed their homes, with Sydney and Melbourne reporting the biggest jump in new listings in more than a decade.
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Busselton leads the way for regional price growth in WA
The coastal community of Busselton in Western Australia’s South West was the top-performing regional centre for the December 2023 quarter according to new data.
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