INDUSTRY NEWS
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WA’s new short-term accommodation rules miss the mark, industry expert claims
The short-term accommodation market has long been the “whipping boy” for the rental crisis, but a Stayz director says the sector is not to blame and new regulations the Western Australian Government has introduced will have a limited impact.
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More high-profile departures from NAR after US commission case
National Association of Realtors’ (NAR) staff member Donna Gland has announced her retirement following the CEO's exit, as the fallout continues after a federal jury ruled the NAR and two major real estate companies had conspired to inflate buyers’ agent commissions.
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National vacancy rate hits record low… again
The national vacancy rate has hit a new record low of 1.02 per cent, according to PropTrack’s latest Market Insight report.
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One in 10 homes must be affordable to end homelessness
With the housing crisis leaving many Australians without a place to live, there are calls for one in ten homes to be affordable to help end homelessness.
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Demand for share accommodation heats up
Demand for share accommodation is ramping up this year, with the number of people looking for a room already well ahead of the typical summer peak season.
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WA rent relief to aid struggling tenants and landlords
Western Australia's peak real estate body has welcomed the State Government's new rent relief measures, saying they will provide a "circuit breaker" for struggling tenants and support worried investors.
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Propic’s CLAIRE upgrade to revolutionise real estate customer service
Propic has completely rebuilt its innovative Artificial Intelligence technology, equipping its virtual concierge with more than 160 new features, including generative AI, that change the paradigm of service real estate agents can offer their customers.
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The legal must-haves to take you from success to succession
With more and more principals planning early exits, it’s become increasingly important that you plan your succession strategically to protect your legacy and ensure financial security for your next adventure.
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First home buyer demand across New Zealand hits a record high
Despite reduced housing affordability and higher living costs, first home buyers (FHBs) in New Zealand are buying homes are a record rate.
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Immigration surge putting short-term pressure on rental markets
The flood of overseas migrants is putting the rental market under extreme pressure in the short term and the Government needs a more consistent long-term target according to an expert.
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Australians believe energy-efficient features make properties more valuable
Seven out of 10 Australians believe energy-efficient features will make their homes more valuable, a new survey has discovered.
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Cup Day rate rise: RBA lifts interest rates to 4.35 per cent
The Reserve Bank of Australia has lifted interest rates for the first time in five months, hiking the cash rate 25 basis points to 4.35 per cent, which is a 12-year high.
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How Ray White agents sold The Block house for a record profit
Sunday night marked a historic day for The Block, with Steph and Gian Ottavio, of House 4, selling their home for an eye-watering $1.65 million over reserve and setting the record for the highest profit ever recorded on the Channel 9 show.
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Auction volumes hit an 18-month high as confidence returns
Spring selling season has seen a surge in the number of vendors taking their properties to auction as confidence comes back to the market.
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Fraudster Melissa Caddick’s penthouse takes a price cut
Sydney’s property scene has taken an intriguing turn with the price slashed on the luxury penthouse once owned by conwoman Melissa Caddick.
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NAR boss Bob Goldberg announces early retirement
Embattled National Association of Realtors Chief Executive Officer Bob Goldberg has brought forward his retirement.
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Tough conditions for buyers across Queensland, South Australia and Victoria
Property buyers in parts of Queensland, South Australia and Victoria are facing the toughest buying conditions in the country, according to an expert.
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New real estate platform to help vendors sell without agent fees
A new real estate platform is set to shake up the traditional role of a sales agent, offering vendors the ability to sell their property without paying real estate agency fees.
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The interest ‘rates’ that stop the nation
It’s not often something steals the show on Melbourne Cup Day, but all eyes will certainly shift from the racetrack to Reserve Bank of Australia (RBA) at 2.30pm on November 7.
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Will there be rental homes for new year movers?
There's no relief yet for tenants who are struggling to find a property to rent, with the rental vacancy rate remaining at a record low 0.8 per cent.
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Tiny, but mighty, house on 30sq m wins national architecture award
A unique house with a tiny 30sq m footprint (about the size of a hotel room) has won the 2023 Robin Boyd Award from the Australian Institute of Architects.
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Unlocking agent potential: Laing+Simmons’ innovative mentoring approach
A new Laing+ Simmons mentoring program that matches agents according to their values and personalities has already proved successful, with one of the first participants confidently establishing herself in a new, more senior position.
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New Zealand property prices rise for the first time in 18 months
The first signs of a recovery in New Zealand property prices have begun with values increasing 0.4 per cent last month and 0.1 per cent for the quarter according to CoreLogic NZ.
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NSW overtakes QLD as most popular location for people leaving the cities
Regional New South Wales has overtaken regional Queensland as the most popular destination for people looking to move out of the city.
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REIA’s plan to reduce the environmental impact of commercial property
The Real Estate Institute of Australia (REIA) has released a new report that outlines long-term measures commercial property owners, builders and developers can implement to make their properties more environmentally friendly and hit government targets.
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Investor numbers fall 27 per cent even as prices rebound
Despite the strong rebound in property prices, investors continue to exit the market spooked by higher rates according to the industry.
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From ordinary to extraordinary: The Block leaves lasting impression on property market
The 19th season of hit renovation show, The Block, may be nearing its finale, but it will leave a much longer lasting legacy on the Australian property market, according to Domain Editor Alice Stolz.
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Perth’s crazy fast property market sees homes sell in just over a week
Perth houses are selling almost twice as fast as they were a year ago, with buyers snapping them up in a median of just eight days in October.
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New brokerages sued after jury rules against agencies in antitrust commissions case
Just minutes after a federal jury ruled the National Association of Realtors and two major real estate companies had conspired to inflate buyers' agent commissions, the plaintiffs attorney filed another class-action lawsuit against NAR and new residential brokerages.
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Australian property prices hit a new record
The downturn is officially over, with property prices hitting a new peak after rising 0.36 per cent in October.
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REA Group secures multi-grand slam champion for its 2024 headline property industry event
REA Group has secured former world number one and eight time Grand Slam champion, Andre Agassi, as the keynote speaker for Ready24.
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ASQA to audit real estate training for standards compliance
The Australian Skills Quality Authority (ASQA) will monitor the performance and conduct audits of registered training organisations (RTOs) across the country, following reports standards in three real estate qualifications are not being met.
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The home ownership dream feels out of reach for Millennials and Gen-Z
With property prices sitting at record highs a growing number of younger Australians feel that home ownership is increasingly out of reach.
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Demand for regional property ‘here to stay’
The pandemic-infused flight to the regions is here to stay with a number of more affordable areas likely to see continued growth according to a new report.
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Chaotic auction sets a new record with 161 registered bidders for damaged home
When Cory Boyd and Keron Petzer listed the dilapidated home at 19 Billabong Drive, Crestmead, they had no idea of the chaos that would ensue on auction day.
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