INDUSTRY NEWS
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Rental market is ‘extremely challenged’ as listings drop and rents soar
A chronically challenged rental market, fuelled by record low supply and soaring weekly rents, is creating a self-perpetuating housing crisis where would-be first-home buyers are finding it increasingly difficult to stop renting and buy a home.
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Aussies could be making an extra $667 per month renting their spare room
Homeowners could be raking in an additional $667 every month if they rent out their spare room according to a new survey.
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REIA proposes plan to tackle housing crisis
The Real Estate Institute of Australia (REIA) has released bold suggestions to tackle the ongoing housing crisis and help more people get into the market.
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Queensland’s biggest property law shake-up in 50 years: REIQ flags some concerns
The Real Estate Institute of Queensland (REIQ) has largely welcomed the state’s new property laws, but warned there are a few illogical and ambiguous provisions that remain.
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Investors flee Victoria causing more pain for tenants
Already in the grips of a rental crisis, investors are selling off their Victorian investment properties en masse, discouraged by the raft of taxes and regulatory burdens that are being thrust upon them.
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Surging immigration sees overseas buyers targeting Australian property
Overseas buyers are increasingly targeting Australian property, with new data showing online searches have surged back above 2019 levels.
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South Australia’s property market goes from strength to strength
South Australian property prices continue to rise, despite the headwinds of higher interest rates and economic uncertainty.
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Inflation jumps as banks predict a November rate hike
Borrowers could be in for a Melbourne Cup day rate hike according to the major banks as the latest inflation data suggests the Reserve Bank of Australia (RBA) might have more work to do.
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Buyers seek transparency: 72 per cent skip properties without prices listed
Property listings without prices are buyers' biggest pain point when searching for a new home on realestate.com.au, according to new research from REA Group.
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First National equips property managers to handle domestic violence skilfully
In Australia, a domestic violence incident occurs every two minutes and with 88 per cent of incidents occurring in the family home, property managers are at the forefront of dealing with these troubling situations.
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Property market to recoup 2022 downturn by the end of the year
Australia’s property market has almost entirely recovered from the 2022 downturn and will do so by the end of the year, according to Domain.
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REIA looks to tackle real estate ethics score head-on
The Real Estate Institute of Australia (REIA) has taken a proactive approach to the industry recently being perceived as the least ethical occupation, teaming up with the Governance Institute of Australia (GIA) to brainstorm ways to change the public’s views.
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First-home buyers opting for “memories not mortgages”
First home buyers are increasingly First-home buyers are increasingly opting for “memories not mortgages” as the high cost of getting into the market makes owning a home less appealing to younger generations in the post-Covid world.
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$6.23 billion defence boost to elevate Northern Territory economy and property market
A multi-billion dollar defence building boom in the Northern Territory is set to create more than 7500 jobs, rapidly spur the economy and lift rental and residential property sales prices.
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3 things you need to know about the US buyer-agent commissions trial
Week one of the Sitzer/Burnett class action lawsuit has drawn to a close, in a case that has the potential to shake up the industry and change the way US agents get paid.
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Building trust and breaking moulds: How Katie Kepner is elevating the real estate experience in Newcastle
Katie Kepner has always been crystal clear on the type of real estate agent she did and didn’t want to be.
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Fleeing the CBD: Australia’s rising rents force tenants to the fringes
Australia’s combined capital city rents have soared a further 10 per cent in the year to September, with tenants forced to look further away from the CBDs to find cost-effective properties.
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Perth and Adelaide tenants battle skyrocketing enquiry rates amid rental crisis
Tenants in Perth and Adelaide are facing increasingly tough rental conditions, with super low vacancy rates sending enquiry levels on properties in many suburbs soaring.
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Ballarat’s $3 million project adds 11 new homes for vulnerable Victorians
Delacombe, in the historic regional Victorian city of Ballarat, is the location of 11 new social and affordable homes set to be completed next month.
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New McGrath Lithgow and Rylstone offices evidence of surging demand from city buyers
McGrath Central Tablelands has launched a second and third office in the space of three months, with the latest venture in Lithgow quickly following on the heels of the Rylstone office.
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Can housing keep up with Australia’s forecast population boom?
Australia’s population is set to grow by $7.4 million by 2041, requiring an extra two million homes across four major cities to cater for more than 65 per cent of the forecast population spike.
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Rental costs rise sharply as vacancy rates hit record lows across Australia
The top 25 regions in the nation in Suburbtrends’ Rental Pain Index all scored either 100 or 99, underlying the currency of the rental crisis.
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One in 10 young adults forced to move back in with their parents
Increasing numbers of younger Australians are being forced to move back in with their parents as the cost of living bites.
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First-home buyers dominate the NZ market
The number of New Zealand property sales in September were 8 per cent higher than a year ago, with first-home buyers dominating the market.
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Landlord scores partial win in tussle over burst pipe claim
An Australian landlord is set to recover some of their $15,400 renovation costs following a ruling by the Australian Financial Complaints Authority (AFCA).
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November sellers can achieve a premium price
Homeowners who want to sell should consider selling in November, with new data showing that sellers achieve a 0.8 per cent premium compared to the rest of the year
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Transparency and efficiency: Why you need to get an inspection report upfront
Transparency is the key to establishing trust in any industry, but it holds particular significance in Australian real estate today.
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Borrowers are slashing non-essential spending as rates bite
Rising interest rates are forcing borrowers to cut back, with new research showing that Australians are trimming their non-essential purchases to deal with mortgage stress.
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Simon Cohen and Joshua Meli join forces to help everyday Aussies build wealth through property
Leading property buyer’s agent and Cohen Handler Chief Executive Officer Simon Cohen, has joined forces with Joshua Meli to form CH Secure.
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Industry welcomes extension of WA stamp duty relief
The move by the WA government to extend stamp duty relief on apartments that are under construction is a step in the right direction according to the industry.
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Andrew Bell set to hand over the reins of Ray White Surfers Paradise Group
Queensland real estate icon Andrew Bell OAM has announced his succession plans for Ray White Surfers Paradise Group (RWSPG).
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Adapting to thrive: How Liam McAlister’s Darwin-inspired philosophy drives his real estate success
Liam McAlister is a big believer in Charles Darwin’s Origin of Species and that it’s not necessarily the strongest or smartest of the species that survives, but the one that’s most adaptable to change.
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Propertyology boycotts Victorian real estate
National property market analysts and buyers’ agency, Propertyology, will boycott investing in Victorian real estate until the State Government improves its attitude towards investors, policies, government finances and economic management.
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Industrial assets to remain an investor favourite for now
Industrial property has been hot over the past few years, however, as alternative assets continue to gain attention and office and retail bounce back, demand will likely slow down according to an expert.
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NSW and Queensland vacancy rates take another dip
Vacancy rates across NSW and Queensland dropped in September, signalling a growing rental crisis.
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