Latest property News

Downsizers and first-timers underpin value in regional NSW in 2019

Friday 11 Jan 2019

Downsizers eager to take advantage of Sydney’s long-term capital growth, along with first home buyers, more rainfall and less banking red tape, are set to underpin property values in regional NSW in 2019, according to one leading network. Executive chairman of Raine & Horne Angus Raine said that it’s a matter of simple economics. “Despite softer dwelling prices in Sydney, downsizer activity is driving demand for real estate in some of NSW’s major regional growth centr ....

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Commission cuts, agent evolutions and recovering markets ahead in 2019, network chiefs predict

Friday 11 Jan 2019

REB asked three industry leaders how they anticipated 2019 might pan out — for agents in particular, and the industry in general. Predictions ranged from changes to the agent value proposition and commission cuts to recovering markets and royal commission mop-ups. CEO at Better Homes and Gardens Real Estate Simon Cashman said that the industry is likely to migrate from being simply transactional to becoming a full-service business in the year ahead. In a similar vein, Purplebricks Aus ....

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Listing fell more than expected in December

Tuesday 08 Jan 2019

Although declines are expected in the holiday period, national listings fell more than anticipated by 9.2 per cent in December 2018 to 328,203, figures released by SQM Research reveal. The research house said that this seasonal decline is typical as vendors withdraw advertising and inspections over Christmas and New Year. However, the declines, especially in Sydney, Melbourne and Canberra, were larger than expected at 17.7 per cent, 17.2 per cent and 15.5 per cent, respectively.  Hobart rec ....

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Sydney, Melbourne account for massive resale profits, data shows

Monday 07 Jan 2019

Property resales in the September quarter last year have accounted for an impressive $14 billion in profits, new data is showing, with Sydney and Melbourne unsurprisingly doing most of the heavy lifting. During the September 2018 quarter, the sheer majority of Australian property resold for a profit at 88.9 per cent, accounting for $14.06 billion in profit, according to the latest edition of the CoreLogic Pain & Gainreport. Of this profit, Sydney and Melbourne resale ....

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Google, Facebook to challenge realestate.com.au, Domain in 2019?

Friday 04 Jan 2019

One network CEO is predicting that Google and Facebook will take an even bigger interest in real estate marketing in 2019 and move more deliberately into the traditional property portal space, dominated currently by realestate.com.au and Domain. CEO at Professionals Real Estate David Crombie said that both Google and Facebook have the wherewithal to do it. “Both these organisations have significant user bases and are able to very cost-effectively target real estate consumers on a ....

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Credit, flat markets to rise in 2019, says network CEO

Wednesday 02 Jan 2019

With the royal commission mostly behind us, the banks will respond by making finance more readily available to first home buyers and investors, and a steadier flow of funding will help get some real estate markets moving again after a couple of challenging years, says Angus Raine, executive chairman, Raine & Horne. “The grey cloud of the royal commission will dissipate in 2019,” he told REB. In particular, the executive chairman expects Perth and Darwin to rebound. &ldq ....

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Capital city values continue to soften

Monday 10 Dec 2018

Adelaide remained steady last week while all other capital cities recorded value falls, latest data shows. Combined, the daily home value index fell by 0.1 of a percentage point in the week ending 9 December. Sydney, Melbourne, Perth and Brisbane repeated their declines from the week prior, falling by 0.5 of a percentage point, 0.3 of a percentage point, 0.2 of a percentage point and 0.1 of a percentage point, respectively. Meanwhile, Adelaide remained steady and saw no movement, CoreL ....

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CBD Smoking Ban

Thursday 11 Oct 2018

One Sydney council area will be the first in Australia to make its CBD smoke-free… with an initial emphasis on education, says its pharmacist mayor At the October meeting of the Strathfield Council, it was decided that smoking will be banned in the Strathfield CBD, and that signage be erected advising locals not to smoke there. It’s an issue which has been discussed for some time, says Mayor Gulian Vaccari, who told the AJP that a report was tabled at the October meeting a ....

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Surprising number of Aussie parents delay retirement to help kids get into the market

Thursday 27 Sep 2018

The 2018 Generational Property Ladder Survey, commissioned by homeloans.com.au, has found that from delaying retirement and sacrificing luxuries such as a new car or a holiday to dipping into their savings, parents are making both personal and financial sacrifices on behalf of their generations to come. The survey revealed that almost two in three parents (65 per cent ) were either currently making financial and personal sacrifices for their children and/or grandchildren to help t ....

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Mixed bag in NSW: Vacancy rates up, rents down

Wednesday 19 Sep 2018

Vacancy rates in the core metropolitan Sydney area saw a rise of 0.2 of a percentage point up to 3 per cent, the August 2018 edition of the REINSW Vacancy Rate Survey detailed. Leanne Pilkington, president of the REINSW, also said that the survey showed vacancy rates in the middle Sydney and the outer Sydney regions both rose to 3.1 per cent from rises of 2 per cent and 4 per cent, respectively. The inner Sydney region also saw a rise in its vacancy rate of 2 per cent up to 2.9 per cent. “ ....

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