INDUSTRY NEWS
-
One in five first home buyers take a year to buy a property
Tight supply and rapidly rising prices has seen many first home buyers taking over two years to purchase a property.
Read More » -
Westpac and NAB predict two more 50bps rate hikes
Borrowers should brace themselves for “more rate pain”, as Westpac and NAB follow ANZ predicting the Reserve Bank of Australia will lift the official cash rate higher and faster than previously expected.
Read More » -
The slowdown we had to have?
Australia's median house price increased by 32 per cent from March 2020 to December 2021, making it the fastest period of price growth we have ever experienced.
Read More » -
The three buckets you need to fill for success
Leading a successful real estate office requires energy as well as business acumen and Phill Broom ensures he is ready for the busy day ahead with his morning exercise workout.
Read More » -
What kind of property will $700,000 buy you?
After two years of record price growth, there are still opportunities to find good value properties for under $700,000 around the country, according to the latest Herron Todd White (HTW) Month in Review.
Read More » -
Queensland rental market feeling the ‘squeeze’ of tight vacancy rates
Incredibly tight rental conditions are continuing to ‘squeeze’ renters across Queensland, with many areas still experiencing vacancy rates below 1 per cent.
Read More » -
Further increases in the cash rate will be needed: RBA
The official cash rate is still lower than it needs to be, according to the Reserve Bank of Australia, who maintain households are well-positioned for higher borrowing costs.
Read More » -
Auction activity increases for second consecutive week
Auction activity has risen for the second consecutive week, with 1818 homes going under the hammer across the combined capital cities this week, resulting in a preliminary clearance rate of 56.1 per cent.
Read More » -
Chinese property buyers to return to Australia
Chinese property buyers are likely to head back to Australia sooner than expected as Australia emerges from COVID stronger than many other countries, according to an expert.
Read More » -
Commercial property settlements surged higher last financial year
The volume of commercial property settlements has surged by as much as 60 per cent across the east coast of Australia, according to new data.
Read More » -
REA Group celebrates Australia’s Property Managers
REA Group is today applauding its Property Manager customers across the country on National Property Managers Day.
Read More » -
Elite Retreat giveaway winners announced
An app that powers up a consumer’s knowledge bank before they buy or sell a home and increased use of video messaging are among the trends agents have tipped to play out in the industry in 2023.
Read More » -
ANZ says cash rate will hit 3 per cent this year
One of Australia’s biggest banks has dramatically revised its interest rate forecast, predicting the Reserve Bank of Australia will lift the cash rate above 3 per cent this year.
Read More » -
Real estate industry celebrates National Property Managers Day
Often the unsung heroes of a real estate agency, property management can a tough gig that requires a specialised skillset and dedication.
Read More » -
Rate rises now to avoid sharper economic slowdown
The Reserve Bank of Australia hopes taking swift action on soaring inflation will halt the need to increase the cash rate as high as previous economic cycles.
Read More » -
Music keeps Amy Bennett on the right track
Amy Bennett has always been a massive music fan.
Read More » -
Outer Melbourne and regional Victoria continue to set record prices
Melbournians have continued to leave the inner-city, with values in outer suburbs and regional areas at record highs.
Read More » -
First home buyers exceed their budget to get on the property ladder
Record high home prices and underquoting are forcing first home buyers to pay more than they expected with 37 per cent exceeding their budget.
Read More » -
Home prices falling in 40 per cent of markets
Declining property prices have gathered steam with 40 per cent of house and unit markets falling in the past three months.
Read More » -
Office occupancy levels hold steady in June
Workers returning to CBD offices has slowed down last month, as the impacts of floods, the flu season and interruptions to rail networks forced people to stay home.
Read More » -
Prospective Perth tenants lose thousands in rental scams
Scammers have targeted prospective tenants in Perth, with two unsuspecting victims losing $23,500.
Read More » -
Sixth week of auction clearance rate below 60 per cent
Auction activity remains 20 per cent lower than this time last year, with 1667 properties taken to auction this week, resulting in a preliminary clearance rate of 56.4 per cent.
Read More » -
Toorak mansion set to become state’s most expensive home
A stunning Melbourne home designed in 1936 is set to smash Victoria’s property price record if it sells for its $65 -$70 million price tag.
Read More » -
Knight Frank and Fred Schebesta examine how crypto, NFTs and the metaverse might shape Australian real estate
Global property consultancy Knight Frank has turned its attention to the rise of cryptocurrency, NFTs, and the metaverse, with the group joining forces with Finder founder and crypto investor Fred Schebesta to decode some of the Australian trends emerging and how they impact real estate.
Read More » -
Property market records busiest start to winter in a decade
The Australian property market has started winter strongly, with new listing volumes reaching the highest June level in more than a decade.
Read More » -
Rents surge by a record 12 per cent across the capitals
Australia's rental crisis has deepened with tight vacancy rates contributing to a record 12 per cent jump in house rents over the past year.
Read More » -
Rent.com.au partners with Origin Energy
Rent.com.au has entered into a new partnership with electricity giant Origin Energy to offer electricity and gas services to Rent.com.au customers.
Read More » -
Retail customers ‘flock back’ to in-person shopping
After a surge in online retail sales, customers have begun to “flock back” to in-person shopping, with experts suggesting bricks and mortar stores are far from dead.
Read More » -
NSW Government to appoint independent statutory property services commissioner
The NSW Government has announced it will appoint an independent statutory Property Services Commissioner from August 1 to drive reform, boost industry standards and support consumers.
Read More » -
Perth sales activity jumps 20 per cent
Real estate sales activity in Perth surged 19.8 per cent during the 2021-22 financial year, according to the latest data from the Real Estate Institute of WA (REIWA).
Read More » -
The 10 Perth suburbs where house prices rose at least 26 per cent
Five of Perth’s top 10 price growth suburbs now saw their median house sale price soar above $1 million for the first time last financial year.
Read More » -
Clearance rate inches higher despite subdued auction market
Auction markets remained subdued this week with just 1610 properties going under the hammer across the combined capitals, resulting in a preliminary clearance rate of 58.6 per cent.
Read More » -
ANZ tips next rate rise to be 50 basis points
One of Australia’s biggest banks has tipped another 50 basis point cash rate rise in August as the Reserve Bank of Australia moves swiftly to put a lid on rising inflation.
Read More » -
‘Little respite’ for falling New Zealand property market
New Zealand could be on the cusp of a Global Financial Crisis-like property market downturn with “little respite” for falling house prices in the coming months, according to an industry expert.
Read More » -
NAB, CBA and ANZ all lift variable home loan and savings rates
The NAB, CBA and ANZ have all passed on the full interest rate hike to variable rate mortgage customers following the Reserve Bank of Australia lifting the cash rate 50 basis points last week.
Read More »