INDUSTRY NEWS
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South Australia set to ban no-cause evictions under new rental changes
South Australia is set to be the next state to reform its rental laws, with tenants to be protected from no-cause evictions under the proposed changes.
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No Commonwealth Games, but more social housing
The Victorian Government has committed to spending $1 billion on more than 1300 social housing homes across the state as a result of pulling out of hosting the 2026 Commonwealth Games.
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Fast-track your real estate license with Entry Education
You're already a seasoned real estate agent, but you're ready to take your career to the next level.
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Trend towards lifestyle locations set to continue
Queensland and Western Australia are set to be the big winners as people continue to flee the big cities and seek out affordable lifestyle locations.
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Unit prices surge across Melbourne
Unit prices in Melbourne have bounced back strongly, with some suburbs seeing quarterly growth as high as 25 per cent, according to the Real Estate Institute of Victoria (REIV).
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An “extended pause” on the cards for interest rates
The ANZ bank has predicted the Reserve Bank of Australia will keep interest rates steady in an "extended pause" next month.
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Queensland Government reviewing new rental laws to stop landlords skirting rent rise rules
The Queensland Government is reassessing regulations curbing rent increases in light of allegations suggesting property owners are exploiting loopholes to bypass the recently introduced rental caps.
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Queensland tenants forget millions in bond money
More than 110,000 Queensland tenants have forgotten to reclaim a collective $52 million in rental bonds, according to the state’s residential authority.
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Homeowners forced to work 3.6 weeks per month just to pay their mortgage
If it feels like you’re working all week long just to end up with nothing to show for it, then you might be right, with new data showing a single-income household spends 3.6 weeks, on average, working each month just to pay the mortgage.
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New housing construction continues to decline but costs are easing
Despite record demand for homes, the latest ABS construction data shows the pipeline of new homes continues to slow, with building starts down 16.4 per cent compared to last year.
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Michele Bullock named new RBA Governor
Reserve Bank of Australia Governor Philip Lowe will step down at the end of his term in September, with Michele Bullock moving into the top job.
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Gold Coast real estate agency ordered to compensate tenants for property maintenance issues
A Gold Coast real estate agency has been instructed to pay substantial compensation to tenants of a prestigious rental property due to its failure to address multiple maintenance issues, including water damage and electrical faults.
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New listings rise in some capitals but down nationally
New listings and total listings may be down at a national level, but some capital cities recorded a rise in fresh properties coming to market in June, new analysis shows.
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Commercial sales drop as interest rates bite
Higher interest rates have hit commercial property hard, with sales activity down 37.6 per cent on last financial year.
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Former Fairfax family estate hits the market for $12 million
A stunning country estate that was built for media mogul John Fairfax's grandson, has hit the market with an asking price of $12 million.
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Victorian investors are selling up over costly land tax
Stockdale & Leggo agencies across Victoria have reported a large number of mum and dad investors selling up ahead of the state’s new land tax coming into effect next year.
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Perth’s growing population to support property market prices
Perth’s property market has managed to defy 12 interest rate hikes and remain resilient, with strong population growth likely to continue the trend.
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NSW Government appoints first rental commissioner
The NSW Government has appointed its first-ever rental commissioner in a role it has termed will be a “voice for renters”.
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Easing rental market, but rising rents loom nationwide
Rental market conditions have eased the most since November 2020, but weekly rents are expected to continue rising.
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NAB lowers refinancing stress test for select borrowers
NAB has joined CBA and Westpac in lowering the stress test on selected refinance applications for borrowers who do not pass the bank’s standard serviceability test.
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NSW Government’s Rental Fairness Bill could worsen the housing crisis
The NSW Government’s proposed Rental Fairness Bill is anything but fair according to real estate experts who fear it will only make the state’s housing crisis worse.
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Surging demand meets limited stock: capital city clearance rates rebound
The demand is there but limited stock has seen the combined capitals auction clearance rate hit a five-week high at a time when it traditionally plateaus.
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Four amazing tips you need to know from Elite Retreat 2023
Adaptability is the new competitive advantage, building a community around your business, developing a positive workplace culture and using AI to grow your business without growing your costs, were just some of the main themes to come from Elite Retreat 2023.
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Rents continue to rise, but growth is slowing
Record immigration and tight supply have seen rents across the country continue to rise, however, some cities are now starting to see rents fall as a multispeed market begins to develop.
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Investors urged to ‘stop chasing cash flow’ alone
With ever-rising interest rates along with cost of living pressures, investors are being warned to not focus just on cash flow and should look to locations that offer good capital growth opportunities.
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Australia’s rental crisis persists as rents jump again
There’s still no relief in sight for struggling tenants, with rents recording a two per cent rise over the past quarter, according to PropTrack.
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RBA issues a reprieve and holds interest rates
Borrowers are breathing a sigh of relief today after the Reserve Bank of Australia (RBA) decided to leave the official cash rate on hold at 4.1 per cent.
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Leading agent Taney Jain to established his own business
One of Australia’s top agents, Taney Jain has announced he’s departing Reliance Real Estate after nine years.
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Florida law bans some international buyers
Certain groups of foreigners will no longer be able to purchase property in Florida in the US after Governor Ron Desantis signed a new bill limiting foreign ownership.
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Property prices continue to defy rate hikes
National property prices keep on moving higher last month, despite the Reserve Bank of Australia (RBA) continuing to hike the cash rate.
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Stone Real Estate joins forces with Propic to leverage leading Artificial Intelligence technology
Stone Real Estate has announced a game-changing partnership with Propic, a leading Australian real estate PropTech innovator.
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It now takes 15 years for house prices to double in value
The old saying that property prices double every 7-10 years, might need to be updated, with new data showing that it now takes 15 years for properties in Australia to double in value.
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ACT and WA likely to see an uptick in listings
The ACT and Western Australia are likely to see the largest percentage of vendors listing their homes for sale in the coming months according to CoreLogic.
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Sad day as :Different goes into voluntary administration
Australian PropTech company :Different has gone into voluntary administration, with KPMG set to sell the platform’s assets and intellectual property.
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South Australia bans rent bidding
The South Australian government has followed New South Wales’ lead and outlawed rent bidding in the hope it will help ease some pressure on the rental crisis.
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