INDUSTRY NEWS
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Perth house prices hit another record high
The Perth property market continues to steadily increase in value, with prices hitting a new record high of $560,000 in July.
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National property prices set to rise up to five per cent over the backend of 2023
Property prices are expected to increase as much as a further 5 per cent nationally by the end of 2023, new data shows.
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Highland to open new office on the Gold Coast
Leading Sydney real estate agency, Highland, will expand into the vibrant Gold Coast property market with the opening of its sixth office.
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REIACT hosts the first Australian Auslan interpreted Auctioneering Championships
The Real Estate Institute of the Australian Capital Territory (REIACT) has hosted the first Australian Auslan interpreted Auctioneering Championships, in a push to build awareness for hearing-impaired home buyers.
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Dwelling approvals and loan commitments drop
The Reserve Bank of Australia may have kept interest rates on hold this week, but that hasn’t stopped property industry experts from hitting out at the central bank after the latest lending figures showed the number of loans for buying and building a new home has dropped alarmingly.
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RBA keeps interest rates on hold a 4.10 per cent
Australian mortgage holders are breathing a sigh of relief this afternoon after the Reserve Bank of Australia opted to keep interest rates on hold.
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More student accommodation needed to keep up with demand
Developers haven’t been building enough student accommodation, and with international student numbers surging, it’s been putting more pressure on housing supply according to an expert.
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Property prices have nearly recovered all their declines
Property prices rallied again in July and have now nearly recovered all of their 2022 declines, according to PropTrack.
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Adelaide house prices hit a new record high of $700,000
Adelaide’s property market has been arguably the best performed over the past few years, with the median house price hitting another record high in June.
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First 3D-printed house in Wolf Ranch completed
The first house in the world's largest 3D-printed neighbourhood has just been completed.
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Auction volumes keep rising, but buyers are still out in force
Despite the unseasonal increase in auction activity, the preliminary auction clearance rate continues to hold above 70 per cent with a “massive” number of registered bidders showing up on auction day.
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Could empty offices become affordable housing?
Empty office buildings in Melbourne’s CBD could be turned into apartments and create as many as 12,000 homes, new research has discovered.
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Kolmeo integrates with CustomerGauge
Property management software provider Kolmeo has integrated with customer experience platform CustomerGauge, to unlock Net Promoter Score (NPS) reporting capabilities for its customers.
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Experts predict the RBA will keep interest rates on hold
With inflation cooling, experts have predicted the Reserve Bank of Australia (RBA) will keep interest rates on hold, in what would come as welcome relief for struggling households.
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Harcourts to attempt 500 auctions on ‘Blue Friday’
Harcourts is hoping to “hit the ground running”, this spring with a world record attempt for the most number of auctions in one day.
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When will movers return to the NZ market?
Owner-occupiers in New Zealand have been quiet over the past 12 months, with weak sentiment and higher interest rates holding movers back from relocating.
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Real estate experts call for action against rental crisis
Real estate experts have called on property managers, agency owners and investors to make a serious amount of noise about the worsening rental crisis, imploring state and federal governments to ditch thoughts of rent freezes and rent caps, which they say will only make the problem worse.
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Property prices have recovered half their declines
Property prices have continued to gain momentum in the June quarter with values now halfway into their recovery according to a new report.
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Odds of an August rate hike slashed as inflation cools
There might be relief ahead for mortgage holders with the odds of an August rate hike slashed after a softer-than-expected inflation reading.
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Real estate consumers call for one agency for life
Almost two-thirds of Australian real estate consumers would prefer to have one agency for all of their property needs in their lifetime, according to new research.
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New Zealand claim honours in Real Estate of Origin
The Kiwis have claimed bragging rights after Ray White’s 12th Real Estate of Origin, securing a huge 2498 appraisals in just four hours this week.
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Property settlement volumes finish FY23 strongly
Property settlement volumes have trended significantly downward in the most recent financial year, but remain well up on pre-pandemic levels, according to new data from PEXA.
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Building Inspections Gold Coast: Palm Beach shacks signal rising trend
An original Palm Beach shack that sold within a day of hitting the market for the first time, is evident of a building and renovation boom in the highly-sought Gold Coast suburb.
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House in the same street as The Block homes comes up for sale
If you think you can do a better job of renovating a home than the contestants on TV series, The Block, then a Hampton property in Melbourne, might just give you an opportunity to test your skills as a renovator.
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Property market still faces “significant headwinds” despite a rebound in prices
After six months of property prices rising in the face of high-interest rates, the ongoing recovery still faces “significant headwinds” in the second half of 2023 according to the latest Herron Todd White (HTW) Month in Review.
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Tasmania top of the states for economic performance
Tasmania has the nation’s best performing economy, including leading the way on equipment investment and dwelling starts.
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NZ sales activity jumps and prices should follow
There are signs of life in the New Zealand property market, with new data showing that sales volumes are on the rise, which will begin to put upward pressure on prices.
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Higher cash rate hitting new home sales
The sharpest increase in the official cash rate in history has seen new home sales across the country continue to fall.
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Some relief for QLD renters as vacancy rates rise
There are some green shoots appearing for desperate renters in Queensland, with vacancy rates slowly starting to rise.
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Suburbs set to thrive from Brisbane Olympics
As Victoria deals with the fallout from cancelling the 2026 Commonwealth Games, the 2032 Brisbane Olympic precinct in Brisbane’s Inner South has topped a list of the city’s property hotspots.
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Victorian properties at high risk of damage from rising seas
By 2100 more than 150,000 Victorian properties could be at high risk of damage from sea level rise and storm surge, according to new research on the impact of climate change on the state.
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First home buyers saving deposits faster
First home buyers are saving almost $200 more per month than they were last year but it still takes more than eight years to gather enough for a deposit.
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Why a lower cash rate likely equals lower rents
With the cash rate still expected to peak this year, tenants are likely also in for a reprieve, with a property market expert explaining rent values usually move in line with interest rates.
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National Property Manager’s Day: Celebrating ‘the heart of every agency’
Kirsten Williams and Maree Chisnall have been named the Australian and New Zealand winners of MRI Software’s 1:1 Leadership Coaching Package to mark National Property Manager’s Day celebrated in Australia on Friday, July 21 and Wednesday, July 19 in New Zealand.
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Are international students behind Australia’s housing crisis?
International students could absorb 70 per cent of the new homes built in Australia between now and 2028, a new study has revealed.
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