INDUSTRY NEWS
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Queensland’s vacancy rate inches higher in December quarter
The Sunshine State's rental market remains incredibly tight despite a slight uptick in vacancy levels during the December quarter, a new report from the Real Estate Institute of Queensland shows.
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Ray White Surfers Paradise’s The Event sees 94 properties go under the hammer
Ray White Surfers Paradise's annual The Event auction saw a clearance rate of 59 per cent, with 302 registered bidders and more than 1200 attendees.
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Louise Schofield joins PMVA to elevate property management success
Industry authority Louise Schofield has joined real estate outsourcing company PMVA, aiming to create better workplace culture, more streamlined workflows and a better customer experience for property management businesses.
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REIA announces finalists for National Awards for Excellence 2023
The Real Estate Institute of Australia has published its 2023 finalist list the REIA National Awards for Excellence (NAFE), which will be held in Perth on March 9.
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Queensland ranked number one state economy by CommSec
An uptick in sea and tree changers heading north has led to Queensland being ranked the best-performing state economy for the first time in the 13-year history of CommSec’s State of the States report.
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Residential land prices stabilise after 26 per cent surge
The cost of new residential land has stabilised following a strong two years of growth, with rising interest rates the key reason, according to the Housing Industry Association.
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One in two property markets declined in 2022: CoreLogic
Record high inflation, rising interest rates and weak consumer sentiment are leading to falling home prices, with new data showing that one in two markets declined in value in 2022
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Our favourite new tech ideas from CES 2023
The annual Consumer Electronics Show in Las Vegas was back with a bang this January, with no shortage of new tech ideas that could help give agents the upper hand.
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Katie Lance: 3 social media predictions for 2023
Real estate agents should focus on three key areas when it comes to social media in 2023, according to US social media expert Katie Lance.
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Million Dollar Bogan raises $35,000 for mental health support
Geelong real estate agent and Big Brother star Daniel Hayes has helped raise $35,000 for telephone crisis support organisation Lifeline, with his charity motorcycle ride.
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New Zealand unlikely to ease borrowing restrictions in 2023
The Reserve Bank of New Zealand is unlikely to ease current loan-to-value ratio restrictions that require investors to cough up a minimum deposit of 40 per cent, CoreLogic New Zealand's Chief Property Economist Kelvin Davidson says.
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Rental listings the lowest they’ve been since 2003, PropTrack finds
The number of rental listings advertised in Australia's capital cities has reached its lowest point in nearly 20 years, according to PropTrack.
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Code Property Group: the tech PMs are using to beat burnout
Property managers are experiencing added pressure as they start a new year in one of the tightest rental markets Australia has ever seen.
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Perth vacancy rate at lowest level in four decades
Perth’s vacancy rate has dropped to its lowest level in 42 years, after falling to just 0.6 per cent in December.
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Mortgage refinancing activity up as survey shows borrowers are fudging the numbers
Owner-occupiers are refinancing in record numbers according to new statistics from the Australian Bureau of Statistics, as separate figures from Finder show that more than 10 per cent of borrowers lied about details on their loan application.
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Victorian property market not all one-way
Demand for regional Victorian property continued in 2022 with house prices rising eight per cent.
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Australia’s rich-listers buy and sell over Christmas
Australia's mega-rich have been buying and listing lavish properties during the Christmas-New Year period, with Atlassian Co-founder Scott Farquhar paying a whopping $130 million for the Point Piper trophy home ‘Uig Lodge’.
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Nerida Conisbee: Australian economy slows but interest rates will keep rising for now
The latest inflation figures showed that it increased at a faster rate in November than it did in October, dashing hopes of a stop to interest rates rises at the start of this year.
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Construction costs show signs of easing after record increase
Residential construction costs rose by a record amount last year, new data shows, but signs of a slow down emerged in the latter months of 2022.
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When should NSW first-home buyers consider stamp duty over property tax?
It would take more than a decade for first-home buyers in NSW to be better off opting for stamp duty over the state's new property tax, though the scheme does risk inflating prices for properties under $1.5 million, Domain's Chief of Research and Economics says.
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Entire Tasmanian town of Tarraleah is back on the market
Tarraleah, a former hydro town in Tasmania, is back on the market following a Covid-disrupted campaign, with listing agent Ed McKay hoping 3D tours and a targeted video campaign will help bring it to the attention of high-profile investors.
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Call for athlete villages to be turned into low-cost housing
Real estate bodies and community housing advocates have called on the Victorian Government to turn Commonwealth Games accommodation, built for athletes in rural areas, into much-needed social and low-cost rental homes once the games are over.
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@realty creates a free AI tool for all agents to use
The real estate sector has experienced a major shift in the way agents and agencies conduct their business.
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New UK start-up aims to split costs of owning a second home
A UK-based fractional ownership startup that aims to make owning a second home more affordable has launched, offering the chance to purchase a share in one of four luxury London apartments.
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Rental home cull as rents rise at their steepest annual rate on record
Australia’s rental crisis isn’t looking like it will ease anytime soon with more than 6000 affordable rentals to be scrapped under a national scheme this year, while the latest Domain Rent Report shows Australia recorded its steepest annual rental increase on record in 2022.
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Australia’s top 100 streets for property values revealed
A new report from Suburbtrends has uncovered the top 100 streets in Australia for high-value properties.
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Inflation figures bounce back in November
New inflation data from the Australian Bureau of Statistics shows the consumer price index rose 7.3 per cent in the twelve months to November, up from October's 6.9 per cent.
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Casey Estate Agents are preventing property manager burnout in 2023
Melbourne-based property management agency, Casey Estate Agents, are giving their team access to technology that will streamline their workload and help manage burnout, particularly over the school holiday.
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Western Australia’s housing supply hits a new low
The number of properties for sale and rent in Western Australia hit a 12-year low in December, according to the Real Estate Institute of Western Australia.
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PropTrack, CoreLogic report slowdown in rental price growth
Rental prices finished 2022 at a significantly higher level than they were the year prior, but price growth began to moderate during the December quarter, according to a new report from PropTrack.
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The best locations for cash flow in 2023 revealed
Property investors chasing lower holding costs should set their sights on larger regional cities, according to a new report from Propertyology.
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Building approvals fall again as RBA’s rate rises hit home
An economist is urging the Reserve Bank of Australia to "hold fire" on future rate rises after new building approvals declined again during the month of November.
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New property listings plunge in December as homes stay on the market longer
The number of new listings hitting the market in December fell by 31.1 per cent when compared with Novembers figures, according to the latest update from SQM Research.
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Foreign buyers look to Australia after Canada ban
Canada’s decision to shut the door on foreign buyers could prove a bonus for the Australian property market, according to experts.
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Australian property values record largest decline on record
Australian property values have clocked the largest decline on record, dipping by 8.4 per cent between their peak on May 7 2022 and January 7 2023, according to CoreLogic.
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