INDUSTRY NEWS
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Cunninghams expands on the Northern Beaches
Cunninghams Northern Beaches has continued its expansion after merging with the former LJ Hooker Collaroy team.
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Property market was a rollercoaster in 2022
From a once-in-a-generation property boom to a clear downturn, Australia’s property market has been a rollercoaster in 2022.
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Refinancing burst takes off as rates rise
More Australians are refinancing their home loans at greater rates and for larger amounts on the back of rising interest rates, new data shows.
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Big Four banks quick to pass on interest rate rise
Well, that didn’t take long. Just a few hours after the Reserve Bank lifted the cash rate 25 basis points to 3.10 per cent at its final meeting for 2022, all four big banks announced they would pass the hike on in full.
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Cash rate hits highest point in a decade
The cash rate is now at its highest level since 2012, with the Reserve Bank of Australia (RBA) using its last monetary policy meeting of 2022 to lift the cash rate 25 basis points.
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REIV calls on re-elected State Government to act on stamp duty reform
Disappointed that the real estate sector still doesn’t have a dedicated ministerial portfolio, the Real Estate Institute of Victoria is calling on the re-elected State Government to focus on “good property sector policy”.
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Adelaide and Brisbane to be the strongest performers in 2023
The smaller capital city markets of Adelaide and Brisbane are set to be the top-performing property markets of 2023 according to a new report.
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Jarrod O’Neil joins The Agency in WA
One of Western Australia's top real estate agents and recently crowned REIWA Grand Master for 2021/2022, Jarrod O'Neil, has joined The Agency.
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Auction clearance rates hit a seventh-month high
Auction clearance rates have bounced back to a seventh-month high as vendors are now more prepared to meet the market according to a new report.
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First-home buyers choosing pets over family
First-home buyers would rather have more space for a pet than be close to their family according to new research.
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New home lending falls to lowest level in three years
New home lending has fallen to the lowest level in three years as industry experts believe it's time for the RBA to stop hiking interest rates.
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High performers turn to tech for the edge
Technology continues to play an increasing role in the real estate industry, with more and more high performers relying on online platforms, such as Market Buy, to drive their success forward.
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Auction volumes drop across Sydney in November but sentiment starting to change
Sydney auction volumes have halved compared to this time last year as uncertain vendors have moved across to private treaty sales according to an expert.
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Busiest auction week since June
The combined capital cities have had the busiest auction week since mid-June, with 2506 homes going under the hammer.
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Cash rate expected to rise again on Tuesday
The odds of another cash rate rise at this month’s Reserve Bank of Australia (RBA) meeting remain high, with 88 per cent of experts tipping another hike is on the cards.
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Vacancy rates hold steady in November
Vacancy rates across the country remain at record low levels, holding steady at 0.8 per cent according to Domain.
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Record low rental affordability puts low-income earners under severe rental stress
Surging rents and low vacancy rates are putting an increasing number of households under rental stress, with low-income earners the hardest hit according to a new report.
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Queensland housing crisis action plan revealed
A multimillion dollar cash injection to help struggling tenants stay in their homes, along with an audit of government-owned land will be among the Queensland Government’s response to the recent Housing Summit.
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Property values fall for seventh consecutive month
Property values have dropped more than $50,000 since their peak in April according to the latest CoreLogic Home Value Index.
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Home prices fell in November as rates pressure buyers
Interest rate pressure is contributing to the “downward trend” in home prices, with new data showing values declined again last month.
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The Agency expansion gathers momentum with Rockhampton launch
National real estate group The Agency has continued its expansion in Queensland, launching an office in Rockhampton.
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Otago named Australia’s most family-friendly suburb
It’s getting easier for homebuyers to get into family-friendly suburbs as more stock comes onto the market according to new research.
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Prime residential price growth to slow in 2023
Prime residential property prices in Sydney and Melbourne are expected to remain flat next year, after performing well in 2022, according to a new report.
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Unit growth falls into negative territory
Annual growth for units across the country has slipped into negative territory, with values down 1.4 per cent compared to this time last year, according to CoreLogic.
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Nerida Conisbee: Where you should have bought a decade ago
Over the past decade, the median in Sydney has increased the most. There are a lot of factors that have driven this.
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Tenancy law reforms haven’t stopped investors
Tenancy law reforms in NSW and Victoria have only had a small impact on landlords’ decisions to purchase or sell rental properties according to new research.
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Agent of the year on the property marketing tool you need in 2023
Brisbane Inner West Realty Director Kathleen Luck is doubling down on technology to take her property marketing to the next level in 2023, and says other agents need to do the same to set themselves apart.
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Renters now need to work six hours more to pay rent than before the pandemic
Rising rents are forcing US tenants to work more than six extra hours per week, just to afford the same property compared to prior to the pandemic.
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Properties selling faster than prior to the pandemic
Despite overall demand slowing down since the peak of the boom, properties across the country are still selling faster than they were before the pandemic, according to new data.
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Lisa Pennell joins Barry Plant as chief operating officer
Lisa Pennell will approach her new role as the Barry Plant Group’s chief operating officer with curiosity and a deep desire to understand the group as a brand as well as individuals.
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Vendors slash asking prices as selling conditions get tougher
Some vendors across Sydney are cutting their asking prices by as much as $800,000 as the market continues to shift.
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New real estate reality show rumoured to be in the works
With Luxe Listings Sydney becoming one of the big TV hits of the past few years, a new real estate-based reality show is rumoured to be in the works.
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Auction volumes continue to rise in lead-up to Christmas
Auction volumes have risen further this week, and the trend is tipped to continue in the lead-up until Christmas.
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More land is required to build one million new homes
The government will need to release more land if they’re to meet their goal of building one million new homes in five years according to experts.
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Property values have soared in the past 20 years while rents lag
House prices across Australia have more than doubled in the past 20 years, however, rents have not been able to keep pace with soaring values.
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