INDUSTRY NEWS
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Housing affordability drops to a new low
Australians are struggling to afford housing like never before as rising interest rates and soaring housing and rental prices continue to bite.
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Foreign investment fees up, aiming to ease Aussie housing crisis
The Federal Government will triple foreign investment fees for the purchase of established homes and double ‘ghost house’ fees for foreign-owned dwellings in a bid to boost Australia’s housing stock.
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Agency operating costs and commissions impacting profit margins
Challenging market conditions over the past few years with rising costs and declining commissions have been weighing on real estate businesses according to a new report.
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Store linked to bushranger Ned Kelly hits the market
A Benalla store where Ned Kelly battled with police has hit the market for the first time in 35 years.
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Perth house prices hit a new record high
Strong demand for property in Perth has seen the median house price hit a record high of $585,000 in November according to new data.
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RBA appoints a new chief economist and assistant governor
Sarah Hunter has been appointed chief economist and assistant governor (Economic) at the Reserve Bank of Australia (RBA).
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Property prices could rise 4 per cent next year
The rebound in the property market is expected to continue in 2024, with values to rise by up to 4 per cent according to a new report.
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Aussies are stashing cash in their offset accounts
Borrowers are stashing spare cash in their offset accounts in a bid to help fend off higher interest rates and rising cost of living.
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The Block serial buyer Danny Wallis to offload his 11 Victorian properties
One of the biggest buyers on The Block, Danny Wallis, is set to sell all of Victorian investment properties, with new taxes and regulations making it untenable for the investor.
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Leanne Pilkington named president of REIA
A powerhouse trio of female real estate experts will lead the Real Estate Institute of Australia into 2024, with Leanne Pilkington being named president and Hannah Gill taking on the deputy president role.
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Darwin property market poised for major growth
Double digit property price growth is tipped for Darwin in 2024, with one expert forecasting a return to the dizzying heights of 2012.
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Confidence returns as auction volumes hit a 19-month high
Vendors have been busy trying to sell their properties before the Christmas break, with capital city auction volumes surging to a 19-month high.
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Australians under extreme financial stress compared to 2020
Despite the Reserve Bank of Australia (RBA) keeping rates on hold, Australians are still facing mounting financial stress according to a new survey.
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Aussie mortgage holders spared a Christmas interest rate rise
The Reserve Bank of Australia has provided mortgage holders a Christmas time reprieve, electing to keep interest rates on hold at 4.35 per cent at today’s board meeting.
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Renters facing a tight changeover period as vacancy rates remain low
The traditional summer changeover period is shaping up as an incredibly challenging period for renters with the latest vacancy data showing supply remains at record low levels.
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Leading Cairns agencies join Ray White
Top Cairns agents Ray, David and Sharyon Murphy are rebranding their market-leading agencies, to become Ray White Cairns and Ray White Palm Cove.
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QLD unit prices ‘awaken from their slumber’
QLD home buyers are starting to chase affordability with new data showing that unit price increases are starting to outpace freestanding homes.
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Real estate networks champion charitable causes
Real estate agents are a philanthropic bunch and with Christmas just around the corner, three networks have given back to charitable causes aimed at making the lives of others better.
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See inside the tiny apartment worth $500,000
A minuscule apartment in Bondi Beach has been snapped up at auction for a staggering $511,000, surpassing its reserve by more than $41,000.
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Australia’s most viewed properties in 2023
A chapel with a graveyard, a fixer-upper with 19 bedrooms, a house from The Block, an abode with a Raffles Hotel bar and a breathtaking rural property were among the most viewed homes on Domain this year.
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Borrowers to be spared a Christmas interest rate hike
This week’s lower-than-expected inflation number is shaping up as an early Christmas present for borrowers, with the Reserve Bank of Australia (RBA) set to keep rates on hold at next week’s board meeting according to the experts.
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New Zealand property prices continue to recover
Property prices in New Zealand ticked higher last month adding to the recent string of increases suggesting the market has turned the corner for the time being.
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Property prices hit record high despite growth slowing
Australian property prices have hit a new record high, climbing 0.22 per cent in November, according to PropTrack.
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The RBA was ‘too hasty’ in raising interest rates again
The Reserve Bank of Australia (RBA) might have been too hasty in hiking interest rates last month, with the latest inflation data showing inflation slowed down in October.
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Sydney super prime sales buck the worldwide trend
Rising interest rates have been slowing down the super prime market around the world, however, Sydney has bucked the trend and seen sales rise according to a new report.
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US home sellers file another commission lawsuit
Another lawsuit has been filed in the US against the National Association of Realtors (NAR) and major real estate companies, accusing them of conspiring to keep commissions high.
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Property prices tipped to rise further in 2024
Combined capital city house and unit prices are tipped to reach a record high in 2024, after price expectations defied forecast declines in 2023.
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Two-thirds of buyers and renters want energy-efficient homes
Increasing energy costs are leading homebuyers and renters to turn towards energy-efficient homes according to a new report.
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Help to Buy scheme set to get more people into a home
Thousands of Australians looking to buy a home and struggling with affordability will soon get more government help, with the introduction of the Help to Buy scheme.
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Sea change out, tree change in: Australians flock inland for an affordable lifestyle
Buyers are swapping the beach for the bush when it comes to relocating to more affordable regional areas, new research reveals.
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Unlocking confidence in Australia’s property market: agents hold the key to easing frustration and uncertainty
Australians are feeling frustrated, unbalanced and uncertain about the current property market, providing agents an opportunity to solve the confidence equation and get ahead of the competition as a trusted industry advisor.
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Reforms needed to boost housing supply
Reform is needed to help boost housing supply amidst an unprecedented population increase according to an expert.
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Andrew Hauser appointed Deputy Governor of the RBA
The Federal Government has appointed Andrew Hauser as Deputy Governor of the Reserve Bank of Australia (RBA) for a five‑year term.
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Home ownership hurdles: 2023 sees soaring costs, sinking affordability
Housing affordability has plummeted on three fronts in 2023, with simultaneous rises in rent values, housing values and interest rates putting home ownership further out of reach for many.
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Buying beats renting in over a third of Australian homes
Rent growth over the past 12 months means it’s still cheaper to buy than rent more than one-third of Australian homes.
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