INDUSTRY NEWS
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Iconic 1920s bungalow in Sydney’s Tamarama smashes records with $45 million sale
A 1920s brick bungalow in the Sydney suburb of Tamarama that last traded for £9750 in 1959, has sold for what’s believed to be about $45 million.
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Small investors remain active in the commercial market
Higher interest rates have contributed to slowing commercial property sales, however, assets under $5 million are still popular with investors according to an expert.
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Mark Carter: understanding and delivering value can generate more listings
Understanding your value proposition and knowing how to add value can help grow your real estate business according to an expert.
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Federal Budget doesn’t do enough to address long-term housing shortage
Real estate and housing industry experts have said the Federal Budget looks good on the surface but lacks the depth to address the nation’s long-term housing shortage.
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Feeling bored? Go for an indoor swim
A stunning Olinda house with its very own indoor, spring water pool and spa has officially hit the market with a price guide of $2.4-$2.64 million.
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Building approval drop adds more fuel to the housing crisis
The housing crisis across the country could get worse after building approvals dropped to their lowest level in a decade, according to experts.
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Protect your business and clients’ privacy: O*NO Legal’s Privacy Prepared Health Check
There’s no better time than now to make sure you’ve got your legals covered when it comes to your clients’ privacy.
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Rent assistance forms part of first surplus Federal Budget in more than a decade
Cost of living relief has formed the centrepiece of Jim Chalmers’ second Budget in under a year, with the treasurer delivering a surplus for the first time in 15 years.
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New AI to give agents micro market insights
The Real Estate Institute of Victoria has joined forces with PropTech business PointData in a move that will enable agents to drill down to street level to generate market insights.
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Are renters being forgotten with the focus on mortgage holders?
Despite the ongoing attention on mortgage holders getting hit with higher interest rates, renters are actually the ones that are far worse off according to new research.
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Market downturn sees eXp World Holdings revenue and profits fall
eXp World Holdings, the parent company of virtual real estate brokerage eXp Realty, has announced its financial results for the first quarter of 2023 with significant drops in revenue and profit.
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Redfin joins the AI race – launches chat-based search plugin
The AI race is well and truly on in the US with real estate brokerage Redfin launching a ChatGPT plugin just days after Zillow did the same.
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Foreign buyers return to the Australian housing market
Foreign buyers are returning to the Australian market following a drop in numbers in 2022, according to a new property report.
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The big four banks pass on the latest rate hike
There’s no relief in sight for borrowers, with all big four banks announcing they will pass on the latest 25 basis point rate hike.
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First-home buyers lead the way as new loan commitments rise
New loan commitments for housing have risen for the first time since early 2022, climbing 4.9 per cent in March, including a substantial 15.8 per cent increase in new owner-occupier first-home buyer loan commitments.
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Remote investing soars, but it could trouble tight rental markets
Remote investing has accelerated for the third year running, despite the easing of Covid restrictions, and it could spell bad news for some of our tightest rental markets.
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Simon Cohen launches seller’s advocacy agency
Could seller’s advocates be the next big thing in real estate?
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Why real estate agents can’t “bury their head in the sand” with AI
In less than six months, Chat GPT has exploded onto the scene and has changed the way businesses all around the world are operating.
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Some capital city vacancy rates starting to ease
The nation’s vacancy rate remained at its lowest point on record in April at 0.8 per cent, despite the number of available rentals increasing slightly in five capital cities.
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Perth house prices continue to rise, units stable
Perth’s house market is on the rise, while the city’s unit market has remained stable, according to the latest figures.
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Zillow launches ChatGPT plugin for seamless house hunting.
Buyers will no longer have to fall down the endless scroll hole when searching for a property in the US, with Zillow launching a game-changing plugin that will transform the house hunting experience.
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Technology and digitisation to disrupt 23 per cent of jobs
Almost one-quarter of jobs will be disrupted in the next five years, with technology and digitisation fuelling the fastest growing and declining roles.
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We need a ‘lemon law’ to make all the homes we buy and rent more energy-efficient
A long-awaited increase in energy-efficiency requirements for new homes is part of revised Australian construction standards that have taken effect this week.
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Interest rates rise for the 11th time in this cycle
The Reserve Bank of Australia has increased interest rates for the 11th time in 12 months, lifting the cash rate 25 basis points to 3.85 per cent.
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Zillow CEO to be questioned in rival’s antitrust lawsuit
Seattle-based real estate platform, REX - Real Estate Exchange, has been granted permission to question Zillow Group Chief Executive officer Rich Barton in the company's antitrust lawsuit against Zillow and the National Association of Realtors (NAR).
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Confidence returns to the property market
Confidence is slowly returning to property markets across the country, with demand for quality properties still remaining high according to experts.
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Federal Government boosts housing packages ahead of the May Budget
The Federal Government has announced a raft of increases to national housing initiatives ahead of its May 9 Budget, including an additional $2 billion for social and affordable rental housing.
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The rate debate: 55 per cent of experts expect a rate rise
Despite the Reserve Bank of Australia (RBA) holding rates steady last month and inflation appearing to reach a peak, 55 per cent of experts think the board will hike the cash rate again at the May meeting.
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Australian housing downturn has likely ended with positive growth trend emerging
Three of Australia’s leading real estate data providers have suggested the property market downturn is over.
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Ouwens Casserly wins AREAs Residential Agency of the Year
Transitioning to a shared leadership model forced upon them in difficult circumstances has been credited with Ouwens Casserly taking out the 2022 Annual REA Excellence Award for Residential Agency of the Year.
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REIV calls for an alternative to stamp duty
The Real Estate Institute of Victoria (REIV) has urged policymakers to do away with “lazy” taxes like stamp duty and find a more effective solution such as a land tax.
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Sydney’s Woollahra named most affluent Local Government Area
Waterfront locations dominate the list of Australia’s wealthiest LGAs, with Woollahra topping the list of the most affluent areas.
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Buyers increasingly focused on lifestyle and location: HTW
While interest rates and affordability have dominated the headlines, most home buyers are increasingly focused on access to transport, lifestyle and community when making their purchase decision according to the latest Herron Todd White (HTW) Month in Review.
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REA Group announces all the AREAs winners
Winners in the Annual REA Excellence Awards (AREAs) have been announced with Ouwens Casserly Real Estate taking out the coveted Residential Agency of the Year Award.
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Is the downturn over? House prices on the rise
Australia's property market is showing cautious signs of recovery, with house prices across the combined capitals increasing in the March quarter for the first time in a year.
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