INDUSTRY NEWS
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New listings off to a strong start this spring
The spring selling season appears to have started early with new listings growing 9.4 per cent across Australia in August.
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Has the interest rate rising cycle run its course?
Two-thirds of experts believe interest rates have peaked, while 97 per cent say the Reserve Bank of Australia will keep the cash rate steady at the next meeting.
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Property prices have bounced again in August
Spring selling season has arrived and property prices are continuing to heat up, with new data showing that values jumped 0.28 per cent in August.
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NZ property prices inching closer to a “floor”
The “floor” in New Zealand property is getting close, with values falling just 0.2 per cent last month according to CoreLogic NZ.
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The suburbs where owners hold homes more than 20 years
Clarinda, in Melbourne’s south-east, has been named the country’s most tightly held suburb for houses, with homeowners holding onto their properties for an average 24.4 years.
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Three reasons rent growth could slow in 2024
There could be some relief on the way for struggling renters, with rental growth likely to start slowing down according to an expert.
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Sydney’s luxury rental growth surges 13.1 per cent
Demand for Sydney luxury property has continued to surge with new data showing that rents have increased 13.1 per cent over 12 months.
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@realty sold $2.59 billion in property last financial year
Despite rate rises and economic challenges, @realty has reported robust results in its End of Financial Year (EOFY) review.
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PEXA acquires environmental analytics company Land Insight
Digital property settlements platform PEXA Group is expanding their offering after acquiring environmental analytics company Land Insight.
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REIA calls for more to be done to help ease rental crisis
The Real Estate Institute of Australia (REIA) is calling for an all-encompassing approach to deliver more homes and better conditions for renters to help ease the current rental crisis.
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Strong yields on offer in new home markets
Investors looking to buy new house and land are able to achieve yields of more than 7 per cent, thanks to the ongoing shortage of housing according to a new report.
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It costs $75,000 less to build a new home closer to Sydney CBD
Housing built closer to the Sydney CBD could end up saving $75,000 in infrastructure-related costs per home according to new research.
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Katrina Garwood and Ian McCallum join The Agency in Tasmania
The Agency is expanding in Tasmania with the highly successful team of Katrina Garwood and Ian McCallum joining the national real estate brand.
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Affluent Sydney suburbs expected to outpace more affordable areas
Suburbs in the middle and upper end of the Sydney property market are expected to grow by as much as nine per cent in the next six months, far more than more affordably priced homes according to a new report.
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Strata managers struggling with verbal abuse and long hours
Strata managers are increasingly facing difficult working conditions, with nearly two-thirds facing verbal abuse from both owners and tenants on top of long hours.
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MyBrix set to shake up property finance
A peer-to-peer platform that enables buyers to fund and invest in Australian real estate is set to launch next month, promising no interest and no repayments for homeowners.
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The Agency increases market share and poised for more growth in 2024
The Agency sold more homes in the 2023 financial year despite national market transactions dropping more than 20 per cent, according to the group’s newly released financial and operational update.
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‘Retiring renters’: Australia’s future crisis as home ownership falls 18 per cent for young adults
Home ownership rates have fallen almost 20 per cent in the past 40 years, with further headwinds propelling Australia towards a growing population of “retiring renters”, according to the REIA.
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Rents likely to rise as vacancy rates fall again
There’s still no relief for struggling renters, with vacancy rates falling again in July.
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Bunbury tops the list of promising regional locations
Bunbury in the southwest of Western Australia has emerged as a top growth candidate, as the state's population continues to grow at a rapid rate.
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Soft new home sales to hit builders in 2024
Australia is on the cusp of home building hitting a decade low at the same time demand for housing has reached crisis levels.
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REA Group identifies ways to ease the NSW rental crisis
Unlocking housing supply, including improved use of existing properties and streamlined government planning processes to boost fast and effective development, are among the key recommendations from REA Group to solve the rental crisis in NSW.
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Social housing boost for Sydney’s Waterloo Estate
Almost 500 additional social and affordable homes will be added to Waterloo Estate, under revised plans for the rejuvenations of one of the nation’s largest social housing estates.
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FHBs need up to two decades to save for a home deposit
Young Australians hoping to get into a home of their own are needing to spend up to two decades saving for a deposit according to new research.
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Agents need to plan auction campaigns early ahead of a busy Spring
With listings set to rise this Spring selling season, it’s critical that agents start planning their auction campaigns early to ensure they get the best possible result, according to an expert.
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Renters turn a blind eye to property flaws to secure a property
Renters are putting up with mould, bad smells and even being forced to share a room in a bid to secure a rental property according to a new survey.
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New Zealanders spending half their income on mortgage repayments
Despite property prices easing across New Zealand, mortgage holders are still spending nearly half their income on repayments according to a new report.
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New Zealand AI firm ListAssist selected for Miami pitch battle
New Zealand AI company ListAssist has been selected to compete in the Innovation, Opportunity & Investment Summit’s Pitch Battle in Miami next week.
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Troubled Chinese developer Evergrande files for bankruptcy
Troubled Chinese developer Evergrande has filed for bankruptcy in the US as it attempts to work out an offshore debt restructuring plan for its $468 billion in liabilities.
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40,000 low-income earners able to access the government’s shared equity scheme
Up to 40,000 low-income earners will get additional government help to purchase a home under the new Help to Buy scheme.
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New listings on the rise, with more stock on the way
New listings are on the rise in Sydney and Melbourne, but the smaller capital cities could be about to see an influx of new stock according to new data.
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McGrath posts $6.2 million profit with 18 new offices
McGrath has posted a solid net profit after tax of $6.2 million for the 2022-2023 financial year, despite a tough property market, driven by historically low listings.
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Building industry says “yes we can” build 1.2 million homes
The building industry has thrown its support behind the Federal Government’s “ambitious” plans to build 1.2 million homes over five years to tackle the ongoing housing crisis.
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Further industry recognition for the award-winning McGill Group
Hot on the heels of taking out the award for Small Residential Agency of the Year in 2022, The McGill Group is celebrating further recognition, being named as finalists in five categories of the Real Estate Institute of Queensland Awards for Excellence in 2023.
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New listings on the rise in Sydney and Melbourne
New listings are rapidly rising across Sydney and Melbourne, setting up a busy spring for agents, according to a new report.
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