INDUSTRY NEWS
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Sydney’s prime rental market hits new heights
A chronic undersupply of existing rental stock and low construction volumes have fuelled a surge in Sydney’s prime rents, with the city jumping to third on a global list measuring luxury residential rental growth.
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Rents surged up to 27.5 per cent in the past 12 months
Rents have jumped by as much as 27.5 per cent over the past 12 months marking the largest increase since 1994.
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Queensland Budget offers “little hope” for long-term housing solutions
The Real Estate Institute of Queensland says Queenslanders looking to enter the property market or secure long-term shelter for their family will find “little hope” in the State Budget.
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A silver lining in NZ’s soft property market: values rise in 128 suburbs
Soft property market conditions continue across New Zealand, but there is some positive price news, with more than 120 suburbs increasing in value in the past three months.
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REIV leader Quentin Kilian and Charter Hall co-founder Cedric Fuchs named in King’s Birthday Honours List
Real Estate Institute of Victoria Chief Executive Officer Quentin Kilian has been named in the King’s Birthday Honours List, receiving a Medal of the Order (OAM) for his service to the real estate industry.
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Could Chinese developers Forbes Global 2000 rankings spark hope for Aussie build-to-rent solutions?
One of China’s largest residential property developers, with a key stake in build-to-rent in the country, has ranked second on Forbes’s Global 2000 list of the 10 largest real estate companies in the world.
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Escalating mortgage defaults as Australians grapple with mounting financial pressure
The number of Australians defaulting on their home loan is on the rise, according to new research.
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More land needed in South-East Queensland to ease the housing crisis
The influx of people moving to Queensland from both overseas and interstate is putting the housing market under extreme pressure, with an expert calling for more land to be released to help ease the crisis.
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Unlocking the potential: Transform winners experience breakthroughs with AI and efficiency
Artificial Intelligence mastery, soaring productivity and a more purposeful, peaceful workday are just some of the improvements the latest cohort of Transform winners have reported in their business after completing the 30-day challenge.
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More than 40 per cent of suburbs see rents increase by double-digits
Surging migration and tight supply have led to 44.4 per cent of house and unit markets seeing rents increase by 10 per cent in the past 12 months.
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Property prices could make new highs in 2024
If the current rebound in property values can continue, prices will make fresh highs in January 2024 according to a new report.
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Luxurious Perth French chateau-style home labelled the ‘finest in the country’, hits the market
A custom-designed Perth home, with a French-inspired feel, has just been listed for sale with price hopes of more than $14 million.
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One in four properties purchased without a mortgage
Cash buyers have been active on the East Coast, with a new report showing that 25 per cent of all property purchases in 2022 were made without a mortgage.
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Build-to-rent case study: the Smith Collective’s lasting legacy
The head of Australia’s first build-to-rent community, the Smith Collective, has called on the Queensland Government to include the housing model as part of the Brisbane Olympic’s legacy.
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RBA doubles down on interest rates as REIA says housing affordability at its worst this century
The Reserve Bank boss has doubled down on the need for this week’s interest rate hike, despite admitting some households are feeling the pinch and mortgage arrears have increased.
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Perth homes snapped up with listings at 13-year low
Perth listing levels have fallen to their lowest point in 13 years, with homes selling at their fastest rate on record.
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Interest rates rise to highest level since April 2012
The Reserve Bank of Australia has lifted interest rates a further 25 basis points to take the cash rate to 4.1 per cent.
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Real estate institute urges Coalition to protect renters from Greens rent freeze
The Real Estate Institute of Australia (REIA) has called on Peter Dutton’s Coalition to support the Housing Australia Future Fund (HAFF) after the Greens laid down an ultimatum to the Government in exchange for its support on the housing bill.
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House and unit rents finally fall in some cities, while room rents surge
Pressure might be starting to ease in some of the country's most tightly held rental markets with new data showing that asking rents fell in a number of capital cities last month.
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Apple unveils groundbreaking spacial computer called Apple Vision Pro
Apple has introduced Apple Vision Pro, a groundbreaking device that seamlessly integrates digital content with the physical world, while keeping users connected and present.
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Number of borrowers struggling to pay their home loan has surged
The record increase in interest rates is starting to weigh on borrowers with new research finding 40 per cent of mortgage holders struggled to pay their home loan in May.
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Do low listings beget low listings?
Australia’s low levels of property listings could be creating a self perpetuating cycle and influencing would-be vendors to sit on their property, according to a property market expert.
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Affordable capital cities the best option for buyers
The cheaper capital cities of Adelaide and Perth continue to attract buyers and have the potential for more capital growth according to an expert.
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Taxing vacant homes and holiday rentals could help ease the housing crisis
Incentivising investors, taxing vacant homes and holiday rentals and releasing more land are all measures being considered to address the current housing crisis according to the industry.
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Rate Hike? Aussie property market says ‘No problem’ as price rebound continues
The Reserve Bank’s decision to lift the cash rate in May has not dampened the nation’s house price rebound with both PropTrack and CoreLogic reporting strong growth for the past three months.
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Inflation rises as RBA boss suggests sad solution to rental crisis
In a shock few experts saw coming, inflation has risen to almost 7 per cent in April, with higher petrol prices fuelling the increase.
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The Sydney suburbs tipped to see values rise
With home prices rebounding across Sydney in recent months, a number of high-profile suburbs including Kogarah Bay, North Bondi and Paddington are tipped to see even more growth according to a new report.
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Rental affordability at the worst level in 8 years
Surging immigration and fewer people per home has seen rental affordability fall to the lowest level in eight years according to a new report.
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Cashback offers for refinancers ‘dropping like flies’
The surge in refinancing as borrowers attempt to combat the Reserve Bank of Australia’s (RBA) hiking cycle is putting pressure on lenders with cashback offers getting slashed.
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Capital city auctions record highest clearance rate in more than a year
The combined capital cities have recorded their highest preliminary auction clearance rate since November 2021, with 75.9 per cent of properties selling under the hammer last week.
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Covid fallout to cause supply shortages for another two years
The impact of COVID-era policies is likely to lead to a lack of housing supply for the next two years according to new research.
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Bank of Mum and Dad prepared to give kids $33,000 to buy a home
The bank of Mum and Dad has long been the way many first-home buyers get into the market and a new report has found that parents are prepared to give their kids $33,000 to get them into a property of their own.
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Top takeaways AREC 2023 – Day 2
Day 1 at AREC 2023 was a tough act to follow, but Day 2 certainly turned up the inspiration, motivation and real life impact of digging deep and committing to your goals. Olympic gold medallist and media personality Caitlyn Jenner gave an insightful reflection on her sporting career and the impact believing in yourself can have, while former think tank…
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How to apply Grant Cardone’s number 1 rule for success
In a world where success can be elusive and multifaceted, a single rule emerges as the key ingredient to achieving your goals: showing up.
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Rising home prices might see listings increase
If the current growth in home prices continues, listings could increase by two per cent this year, according to an expert.
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